Sensex, Nifty erase gains; banks, IT, FMCG under pressure

 Reliance Communications in focus While talking in Reliance Communications AGM, Anil Ambani says the company targets to reduce debt by Rs 15,000 crore in 24 months. Debt currently stands at Rs 35,000 crore, he adds. The company is looking to monetise both real estate and DTH. "We are looking to demerge real estate assets. We are working on contours of real estate demerger," says Ambani. He further said the company will be participating in next round of auctions that will enable company to launch 4G in 2015-16. The stock fell over 2 percent.

Live Market Updates: Sensex, Nifty sluggish; RBI keeps key rates unchanged

The market is still sluggish as RBI did not spring up any surprise move. The central bank has kept key rates unchanged. The Sensex is up 43.32 points at 26640.43 and the Nifty is down 4.20 points at 7954.70. About 1322 shares have advanced, 933 shares declined, and 69 shares are unchanged. HDFC, Bajaj Auto, Maruti, Dr Reddy's Labs and Sun Pharma are top gainers while GAIL, Hindalco, Infosys, Tata Steel and TCS are among the laggards in the Sensex. Asian markets were in hesitant mood on Tuesday as investors wondered what China's response would be to civil unrest in Hong Kong, while the U.S. dollar was on track to post its biggest monthly gain in well over a year. Tens of thousands of pro-democracy protesters blocked Hong Kong streets on Tuesday, in one of the biggest political challenges to Beijing since the Tiananmen Square crackdown 25 years ago. The unrest was an added complication for investors amid long-standing concerns about the health of China's economy.

Induslnd Bank inaugurates first Digital Branch at Gurgaon

Induslnd Bank, one of the fastest growing new-generation private sector banks in the country, has inaugurated its first Digital Branch at Induslnd Cybercity Rapid Metro station, Gurgaon. With this launch, the bank has become the first bank in India to have a fully Digital Branch at a metro station, whose branding rights are owned by the bank. The bank’s fully digital branch aims to deliver best-in-class service to its growing tech savvy customer base. This digital branch is strategically located in the heart of Cybercity, which houses Cyberhub and many other key commercial establishments of Gurgaon. One of the USPs of the Digital Branch is the Interactive Video Branch machine - another first in India. This Video Branch machine allows customers to connect with the remote teller over a real-time video call and perform regular banking transactions like statement printing, cheque deposits, opening of FD account and encashment, funds transfer along with dispensation of cash. The Digital Branch lobby also has a smart table with iPads on which customers can do a host of banking and non-banking transactions. Induslnd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Induslnd Bank has 638 branches, and 1238 ATMs spread across 439 geographical locations of the country. The Bank also has representative offices in London and Dubai.

All eyes on RBI policy today; Nifty may open weak

Today, all eyes will be on the RBI monetary policy. Most market experts and economist believe that RBI will leave the key rates unchanged, according to CNBC-TV18 poll. Majority also expect the governor Raghuram Rajan to retain his hawkish tone. With the SGX Nifty trading 39-points down following weak global cues, the Nifty is expected to see gap down opening. Yesterday, major indices ended with marginal losses but midcaps continued to rally. Traders too were cautious ahead of the Reserve Bank of India credit policy review. On the global market front, US stocks ended lower on Monday following protests in Hong Kong that added to worries about Chinese growth and after a disappointing forecast from Ford Motor Co. In Europe, shares closed down with disappointing data weighing on sentiment and protests in Hong Kong affecting some financial firms with exposure to the region. Asian markets too were cautious over developments in Hong Kong and as investors focused on data in China and Japan. Kospi weighed down by data showing August industrial output posted its worst monthly fall since 2008. From the currency space, the dollar is hovering at a four-year peak against a basket of major currencies and is on track to post its biggest monthly gain in well over a year In commodities, crude hovers around USD 97/bbl on support from strong US economic data last week From precious metals space-- gold holds steady above a nine-month low but poised to post its sharpest monthly loss in 15 months as a rapid climb in the dollar dimmed the metal's appeal. On the domestic front, the Indian Prime Minister after giving speeches at the United Nations Central Park and Madison Square Garden, yesterday he got down to business as his USvisit enters the most crucial The prime minister met with top CEOs of corporate America. He held a break-fast meeting with 11 CEOs including the heads of Google, Pepsi, Citigroup, Carlyle group among others. Then he held one-on-one meetings with Jeffrey Immelt of General Electric, James Mcnerney of Boeing, Virginia Rometty of IBM, Henry Kravis of K-K-R among others. US companies sought clarity from India on its FDI policy and PM is learnt to have assured the CEOs that he has an open mind. Speaking about the recent coal scam verdict, Prime Minister said: “We want to convert the SC judgment on coal allocation into an opportunity to move forward and clean up the past.” RELATED NEWS