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Sensex, Nifty may extend gains

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Trading of 50 index futures on the stock exchange indicates that the could rise 18 points at the opening bell on positive global cues.

Overseas, Asian stock markets were trading higher on Tuesday. In the US market, stocks advanced as investors cheered the agreement struck between the US and to avoid tariffs being implemented.

Meanwhile, on the US-trade front, reportedly said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with Chinese at the summit. US reportedly expects to meet Xi at the June 28-29 summit in Osaka,

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 216.20 crore on 10 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 170.62 crore on 10 June 2019, as per provisional data.

Key domestic indices ended with modest gains on 10 June 2019, supported by positive global stocks. Investors concerns eased after the and struck a migration deal last week to avert a tariff war. Moreover, a weak US jobs data boosted hopes of interest rate cuts by the Federal Reserve. The barometer index, the S&P BSE Sensex, rose 168.62 points or 0.43% to 39,784.52. The 50 index rose 52.05 points or 0.44% to 11,922.70.

The (Sebi) on Monday, 10 June 2019, proposed an informant mechanism to blow the whistle on cases, wherein genuine whistleblowers could get monetary reward of Rs 1 crore as well as amnesty from regulatory action. Proposing a mechanism that provides near absolute confidentiality along with appropriate safeguards, Sebi said it would help strengthen the mechanism for early detection of cases.

The Reserve Bank of (RBI) on Monday, 10 June 2019, relaxed norms for (BSBD) account. Banks are now advised to offer card or ATM-cum-Debit card and allow minimum of four withdrawals in a month, including withdrawals. There shall be no limit on number and value of deposits that can be made in a month. The BSBD account holders should be allowed to deposit cash at as well as ATMs/CDMs. Receipt/ credit of money should be allowed through any electronic channel or by means of deposit /collection of cheques drawn by agencies and departments. The rules will come into force from 1 July.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 11 2019. 07:57 IST