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Sensex, Nifty settle at record closing highs; Nifty Bank ends above 25,000

All that happened in Monday's trade

SI Reporter  |  New Delhi 

Vinod Nair, Head of Research, Geojit Financial Services    Good results from index heavyweights continue to add liquidity, while country’s largest PSU bank SBI's interest rate cut decision attracted investors to the banking stocks on expectations of more peers to follow the trend. Additionally, moderation in inflation to below RBI's target of 4% heightened the hopes of rate cut in the next monetary policy. Q1 Earnings   Tech Mahindra reported 34.3% sequential growth in its consolidated net profit at Rs 791.8 crore against 589.7 crore reported in the same quarter of the previous fiscal year. The IT major's revenue growth in CC terms rose 2.1% to Rs 7336.1 crore, while dollar revenue growth came in at $1138 million, up 0.6% QoQ. HEATMAP: Top Sensex gainers and losers Source: BSE Market breadth turns negative The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,425 shares fell and 1,255 shares rose. A total of 196 shares were unchanged. Broader markets trail behind    The BSE Midcap index added 0.3%, while the BSE Smallcap gained 0.1% at close. Nifty PSU Bank (up 3.6%) was the leading sectoral gainer, led by gains in SBI (up 4.5%), Bank of Baroda (up 2.9%) and Punjab National Bank (up 2.4%). 

The markets ended at fresh closing highs on Monday after the country's biggest lender, State Bank of India, rallied as it introduced a 2-tier savings bank interest rate, while investors awaited a rate cut by the Reserve Bank of India in its two-day policy meeting which begins on Tuesday. Economists are divided on what action the RBI will take in its policy review that concludes on Wednesday. Of the 14 economists polled by Business Standard, five said there would be the status quo this time. In most cases where the economists said there would be a cut, they warned it was a ...

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First Published: Mon, July 31 2017. 15:33 IST
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Sensex, Nifty settle at record closing highs; Nifty Bank ends above 25,000

All that happened in Monday's trade

All that happened in Monday's trade The markets ended at fresh closing highs on Monday after the country's biggest lender, State Bank of India, rallied as it introduced a 2-tier savings bank interest rate, while investors awaited a rate cut by the Reserve Bank of India in its two-day policy meeting which begins on Tuesday. Economists are divided on what action the RBI will take in its policy review that concludes on Wednesday. Of the 14 economists polled by Business Standard, five said there would be the status quo this time. In most cases where the economists said there would be a cut, they warned it was a ... image
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Sensex, Nifty settle at record closing highs; Nifty Bank ends above 25,000

All that happened in Monday's trade

The markets ended at fresh closing highs on Monday after the country's biggest lender, State Bank of India, rallied as it introduced a 2-tier savings bank interest rate, while investors awaited a rate cut by the Reserve Bank of India in its two-day policy meeting which begins on Tuesday. Economists are divided on what action the RBI will take in its policy review that concludes on Wednesday. Of the 14 economists polled by Business Standard, five said there would be the status quo this time. In most cases where the economists said there would be a cut, they warned it was a ...

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