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August 2019
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News Headlines
Former Finance Minister Arun Jaitley passes away        I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        
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Business News
Market ends flat after RBI rate cut; rate sensitive stocks turn volatile
 
Mumbai, Feb 7 (PTI) Benchmark equity indices gave up gains to end almost flat on Thursday as investors booked profits at higher levels, after the the Reserve Bank surprisingly reduced the repo rate by 0.25 per cent.

After rising nearly 200 points, the 30-share BSE Sensex ended 4.14 points, or 0.01 per cent, lower at 36,971.09; while the broader Nifty settled 6.95 points, or 0.06 per cent, higher at 11,069.40.

India VIX, the fear gauge for domestic equities, rose 1.40 per cent.

Rate-sensitive stocks swung between gains and losses after the rate-cut announcement, with BSE realty index slipping 0.02 per cent, Bankex gaining 0.04 per cent and auto index soaring 1.77 per cent.

The Reserve Bank of India cut the repo rate by 0.25 per cent to 6.25 per cent on expectation that inflation will stay within its target range, a move that may make home and other loans cheaper.

The RBI, under its new Governor Shaktikanta Das, changed the monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening of rates if inflation remain benign.

From stock market point of view, the policy decision is already discounted in indices. Traders are looking to book some profit from here, which can push indices to lower levels, said Debabrata Bhattacharjee, Head of Research, CapitalAim.

"In a medium-term, market has always reacted positively to a rate cut. Since we are in an environment where RBI is now neutral with a focus to keep growth in an economy and tab on inflation, we may attract long term money that can move the market.

"This is a positive event for the market though on a cautious note - we have an election in the next three months. So that needs to be taken into account," Mustafa Nadeem, CEO, Epic Research, said.

In the Sensex pack, Sun Pharma was the biggest gainer, rallying 4.48 per cent, followed by Bajaj Auto, Tata Motors, Coal India, Hero MotoCorp, Maruti and HCL Tech, rising up to 3.01 per cent.

While, RIL, PowerGrid, HDFC, L&T, IndusInd Bank, NTPC and Bajaj Finance declined up to 1.50 per cent.

On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 694.97 crore Wednesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 525.26 crore, provisional data available with BSE showed.

Elsewhere in Asia, Japan's Nikkei fell 0.59 per cent, while Korea's Kospi ended flat. Bourses in China were closed for Lunar New Year break.

In the Eurozone, Frankfurt's DAX was down 0.48 per cent and Paris CAC 40 fell 0.30 per cent in late morning deals; while London's FTSE was up 0.18 per cent.

The rupee, meanwhile, appreciated 11 paise against the US dollar to 71.45 intra-day.

The benchmark Brent crude futures rose 0.06 per cent to USD 62.73 per barrel.


No more dessert names, Google to officially call new OS 'Android 10'
Sensex, Nifty rebound on hopes of FPI tax rollback
Nirav Modi to appear via videolink for remand hearing in UK
Rupee slips 17 paise to 71.72 vs USD in early trade
SBI plans to establish nearly 10 lakh YONO Cash Points
Sensex tumbles 268 pts; Tata Motors tanks 9 pc
Huawei dismisses new suspension of 'unjust' US ban
Rupee hits fresh 6-mth low of 71.71; dives 28 paise
China lost 20 lakhs jobs in short period of time: Trump
Rupee plunges to over 6-mth low of 71.43; skids 29 paise
Ready to help J&K hold investment summit in Mumbai: Fadnavis
Credit demand subdued, economy needs stimulus: SBI Chairman
Trump says Apple will spend 'vast sums' in US
Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park
Sensex, Nifty edge higher on stimulus talks; post weekly loss
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
Gaana looking to break-even in next 4-5 years
Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
 Thiruvananthapuram: A 30-member film crew from Kerala, including award-winning actress Manju Warrier  
Ex-Deputy Commandant of AR camp held in connection with constable's death
"More flights to Kerala from Gulf countries during Onam"
Flood in Kerala: CM conducts aerial survey
INTERNATIONAL NEWS
Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
 Islamabad: Pakistan on Friday said that despite tensions with India, it stands ready to open the Kar
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
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