Stock market closing commentary indian
The gauge had lost On similar lines, the NSE Nifty declined by 26 points, or 0. Banking stocks came under heavy selling pressure after the Punjab government announced farm loan waiver for small and marginal farmers, which is likely to impact the PSU banks. According to sources, Sebi wants to make special resolution mandatory for removal of an independent director as such a provision will reduce the arbitrariness of promoters in deciding upon the ouster of such directors.
The US currency's increasing appeal among importers and banks led to foreign capital outflows. The share BSE index rose It had gained The sentiment was also boosted after market regulator Sebi said it plans to relax norms for direct registration of foreign investors and fast-track the listing process as part of efforts to make the Indian stock market more attractive.
The rupee opened a tad higher at It gained further ground to hit an intra-day high of Opening strong, the BSE share index hit a high of 31, On Friday, the rupee had closed higher by 10 paise at Both the BSE and the NSE recorded their second straight weekly fall by losing The share BSE index recovered sharply by points, or 0.
Forex dealers said the greenback's gains against other currencies overseas helped, which complemented the increased demand for the US currency from importers. The BSE 3 0-share Sensex, after opening higher, scaled a high of 31, The index had moved up Consumer prices unexpectedly fell on month in May and the annual increase in core CPI slipped to 1.
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This week, online marketplace Paytm Mall announced a three-day Pre-GST Clearance Sale from June , in which over 6, retailers sold more than brands. Even though they chose to stick to their calls of a pause, economists at foreign brokerages HSBC and Nomura said chances of a rate cut are higher given the data print. The data released on Monday showed core inflation, too, dropped from 4.
Dealers attributed the rupee's fall to fresh demand for the US currency and a lower opening in domestic stocks, too. The market today opened on a positive note, helped by a string of factors like better monsoon forecast and the status quo on policy rates by the RBI yesterday.
RBI Governor Urjit Patel-led MPC for the fourth straight bi-monthly review kept the repo rate unchanged at 6.
Forex dealers said increased demand for the US currency from importers as also the greenback's gains against rivals overseas put pressure on the rupee. The NSE Nifty also went up by Brokers said investors were seen holding their bets awaiting the outcome of the RBI's bi-monthly Monetary Policy Committee meet. Market participants holding their bets ahead of the UK general elections and the European Central Bank ECB meeting added to the overall weak sentiment.
On Friday, the rupee had gained 4 paise to a fresh one-week high of The share Sensex scaled an all-time high of 31, The rupee had firmed up by 3 paise to close at Stocks of auto majors including Maruti Suzuki, Mahindra and Mahindra, Hero MotoCorp and Tata Motors were in demand and rose by up to 1.
Forex dealers said that besides sustained selling of the greenback by banks and exporters, the dollar's weakness against some currencies overseas backed up the rupee. The share barometer retreated from its record closing by losing The gauge had rallied by See More See Less.
Global & Indian Stock Market Analysis: NSE/BSE Indices & Market Trends at IIFL
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