The BSE Mid-cap Index is trading up 0.30% at 11,489, whereas BSE Small-cap Index is trading up 0.23% at 11,793.SBI, Tata Steel, Sun Pharma, Lupin, HDFC, Bharti Airtel and ITC are among the gainers, whereas Cipla, Tata Motors, Hindalco, Dr. Reddy's, ONGC, Vedanta and Infosys are losing sheen on BSE
The BSE Mid-cap Index is trading up 0.30% at 11,489, whereas BSE Small-cap Index is trading up 0.23% at 11,793.
SBI, Tata Steel, Sun Pharma, Lupin, HDFC, Bharti Airtel and ITC are among the gainers, whereas Cipla, Tata Motors, Hindalco, Dr. Reddy's, ONGC, Vedanta and Infosys are losing sheen on BSE.
Global cues are not really upbeat with most of the Asian markets in the red. What could change the tide is as and when further announcements of executive action come as the Modi government seeks to push the economy ahead. Else, the week is expected to be dull in absence of any significant event. A handful of results like Valecha Engineering, Indsil Hydro Power & Manganese and Asahi Infrastructure & Projects are scheduled for the day.
With the earning season behind us market-participants would be tailing the momentum of crude, FIIs and Rupee for further cues. On the global front, investors would be eyeing slew of economic data from world’s largest economy, United States, starting from Housing Starts data on August 18, followed by Consumer Price Index, FOMC Minutes, Jobless Claims, Philadelphia Fed Business Outlook Survey and finally, Existing home sales data on August 20, 2015.
During the annual Independence Day speech at Red Fort, Prime Minister Narendra Modi said Team India -- a team of 125 crore Indians -- will take the country to new heights. Modi said that the next priority of his government is to provide electricity to 18500 villages in the country
The Union Finance Minister Arun Jaitley said that for some years, banks are facing challenging time but there is no cause for panic. Jaitley said that the Government has taken various new initiatives and policy decisions to revamp the Public Sector Banks(PSBs) and improve their overall performance.
Good ethical practices and corporate governance norms followed by the companies can boost the gross domestic product (GDP) by 1.5-2 per cent much like the potential spinoff benefits of the goods and services tax (GST), union power minister, Piyush Goyal said at an ASSOCHAM event.
The country's foreign exchange reserves fell by $113.5 mn to $353.347 bn in the week ended August 7, according to RBI data.
US stocks ended higher after upbeat US economic data. The Dow Jones industrial average rose 69.22 points, or 0.4 per cent, to 17,477.47, while the S&P 500 gained 8.18 points, or 0.39 per cent, to 2,091.57 and the Nasdaq Composite added 14.68 points, or 0.29 per cent, to 5,048.24.
Niko Resources of Canada called off 10% stake sale in Reliance Industries' KG-D6 block apparently because it could not find a buyer, according to reports. Earlier in February, the company announced plans to sell its 10% stake in the KG-D6 block to pay off $ 340 mn debt.
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