BSE down 65 points on weak global cues
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The BSE and National Stock Exchange (NSE) were trading in the red on Monday morning following weakness in the Asian markets.
The BSE was trading at 27,172.78, 65.28 points or 0.24% while the NSE was trading at 8383.00 down 17.35 points or 0.21% lower from previous close.
Fears over a 'hard Brexit' plan and Donald Trump taking office as the US President gripped the global markets on Monday, keeping all the key indices down. The sterling and the dollar felt the impact of the concerns in the market.
On Monday, the shares of Reliance Industries would be in focus as the company is slated to announce its third quarter results for FY17. In early trade, its shares were trading at Rs 1,088, down Rs 2.15 or 0.20% from previous close.
Budget expectations from various industries and wholesale inflation data due later today will also drive markets on Monday. According to a Cogencis poll, wholesale inflation (WPI) is seen at 3.6% in December compared to 3.16% in November.
The Goods and Services Council (GST Council) is also likely to meet on Monday to iron out issues over dual control of assesses. Finance Minister Arun Jaitley reiterated recently that the Council would be working to iron out all the issues to ensure meeting the April 1, 2017 roll out.
On the BSE, the top gainers were DLF up 3.46%, Manappuram Finance 2.45%, HDIL 2.40%, Religare 2.25%, Fortis Healthcare 2.13%. Among the top losers were, DB Corp 3.59%, Network18 3.54%, JP Associates 3.26%, Den Networks 2.79%.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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