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Equities slide as COVID-19 pandemic cripples global businesses

New Delhi, Mar 19 (ANI): Equity indices recovered some lost ground from the intraday low point on Thursday but ended over 2 per cent lower due to concerns over the economic impact of coronavirus pandemic. In money markets, the rupee fell to a low of 75.05 versus the US dollar against the previous close of 74.26. The BSE S and P Sensex closed 581 points or 2.01 per cent lower at 28,288 while the Nifty 50 was down by 242 points or 2.42 per cent at 8,263. All sectoral indices at the National Stock Exchange were in the negative zone with Nifty auto down by 5.8 per cent, metal by 5.2 per cent, realty by 3.4 per cent and IT by 3 per cent. Among stocks, Bharti Infratel dropped by 18.2 per cent to Rs 122.50 per share while Axis Bank traded lower by 9.6 per cent. Zee Entertainment closed 13.8 per cent down and ONGC lost by 10.6 per cent. The other prominent losers were Bharat Petroleum Corporation, Bajaj Finance, Hindalco, Maruti and Mahindra and Mahindra. As a result, Asian markets traded low

Sensex takes another big dive as COVID-19 pandemic cripples businesses globally

Mumbai, Mar 19 (ANI): Equity benchmark indices floundered during early hours on Thursday with eroding investor confidence due to worries about the economic impact of coronavirus pandemic. In money markets, the rupee fell to a low of 74.89 versus the US dollar. At 10:15 am, the BSE S-P Sensex was down by 1,571 points or 5.44 per cent to 27,299 while the Nifty 50 edged lower by 456 points or 5.38 per cent to 8,013. All sectoral indices at the National Stock Exchange were in the negative terrain with Nifty private bank down by 8.2 per cent, financial service by 8 per cent, realty by 7 per cent and auto by 6.5 per cent. Among stocks, Bharti Infratel dropped by 15.1 per cent to Rs 127.15 per share while IndusInd Bank and Kotak Mahindra Bank traded lower by 12.4 per cent and 9.1 per cent respectively. Yes Bank was down by 13.65 per cent, a day after resuming complete services which were stopped as the Reserve Bank of India placed it under moratorium earlier this month.

Yes Bank Administrator hails its staff members for handling customers well

Mumbai, Mar 17 (ANI): Yes Bank Administrator Prashant Kumar on March 17 held a press brief in Mumbai. While addressing the mediapersons he said the staff of Yes Bank handled the situation very well when the RBI had superseded Yes Bank's board and capped withdrawals at Rs 50,000. "On the very first day there were long queue outside the banks but subsequently customers were handled very well and there were not a single untoward incident," Kumar added that on the very first day, the ATMs were made available to our customer and within 48 hours other banks ATMs were also made available to the customers. On March 05, the RBI had superseded Yes Bank's board and capped withdrawals at Rs 50,000.

Yes Bank customers can enjoy bank's normal operations from March 18, informs Administrator Kumar

Mumbai, Mar 17 (ANI): Yes Bank Administrator Prashant Kumar on March 17 held a press brief in Mumbai. While addressing the mediapersons he said that the bank will resume normal operations from 6 PM on March 18. He said that all Yes Bank ATMs has sufficient cash and all the branches have adequate cash supply.

Equity indices volatile amid losses in global markets, Yes Bank gains by 30 pc

New Delhi, Mar 17 (ANI): Equity indices reversed early losses on March 17 morning after shares in Wall Street plunged to their biggest day drop in more than three decades overnight. Investors said the Reserve Bank of India's assurance on liquidity front, fall in crude oil prices and reports on coronavirus will remain major triggers for the session. At 10:15 am, the BSE S and P Sensex was up by 435 points or 1.39 per cent to 31,825 while the Nifty 50 edged higher by 145 points or 1.57 per cent to 9,342. Most sectoral indices at the National Stock Exchange were in the green with Nifty pharma up by 3.1 per cent, metal by 2.3 per cent, FMCG and auto by 1.5 per cent each and PSU bank by 1.1 per cent. Among stocks, Yes Bank surged ahead by 30.32 per cent to Rs 48.35 per share a day after RBI Governor Shaktikanta Das said the moratorium on private sector lender will be lifted on Wednesday evening and that the depositors' money is absolutely safe.

Equity parameters close flat after choppy trading, Yes Bank spurts 36 pc

New Delhi, Mar 11 (ANI): Equity benchmark indices wobbled through a choppy trading session on March 11 but closed in the green amid unabated coronavirus concerns globally. The BSE S-P Sensex closed 62 points higher at 35,697 but the Nifty 50 dipped by 3 points at 10,449. Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 3.86 per cent, realty by 2.71 per cent, metal by 2.06 per cent and IT by 1.25 per cent. Among stocks, Yes Bank was up by 36.71 per cent at Rs 29.05 per share as State Bank of India readied a reconstruction plan for the troubled private sector lender, which has been grappling with mounting bad loans and struggling to raise fresh capital.

Equity indices up in line with Asian peers, metal and pharma stocks gain

New Delhi, Mar 03 (ANI): Equity benchmark indices were in the green during early hours on Tuesday as investors hoped that central banks will take action to combat the economic impact of coronavirus outbreak. At 10:15 am, the BSE S-P Sensex was up by 485 points or 1.27 per cent to 38,629 while the Nifty 50 edged higher by 159 points or 1.43 per cent at 11,292. All sectoral indices at the National Stock Exchange were in the green with Nifty metal gaining by 3.28 per cent, pharma by 2.73 per cent, realty by 2.15 per cent and IT by 1.45 per cent. Among stocks, Vedanta added gains of 5.2 per cent at Rs 116.80 per share while JSW Steel was up by 4.5 per cent, Tata Steel by 3.1 per cent and Hindalco by 2.5 per cent. The other prominent gainers were Sun Pharma, Eicher Motors, Hero MotoCorp, Yes Bank and HCL Technologies.

Sensex closes 392 points lower on coronavirus fears, auto and metal stocks suffer

New Delhi, Feb 26 (ANI): Equity indices tracked their global peers and closed deep into the red on Wednesday as effects of coronavirus outbreak reverberated beyond China. Profit-booking accelerated with automobile and metal sectors bearing the brunt as market undertone remained weak since opening following fears of deepening adverse economic impact of coronavirus pandemic. The BSE S-P Sensex closed 392 points or 0.97 per cent lower at 39,889 while the Nifty 50 was down by 119 points to 11,679. All sectoral indices at the National Stock Exchange were in the negative zone with Nifty auto skidding by 2.15 per cent, realty by 1.67 per cent, metal by 1.63 per cent, pharma by 1.25 per cent. Among stocks, Sun Pharma was down by 3.8 per cent at Rs 374 per share while Hindalco and Vedanta dipped by 2.6 per cent and 1.9 per cent respectively.

Amazon is best place to fail as we practice a lot: Jeff Bezos

New Delhi, Jan 15 (ANI): Amazon Chief Executive Officer (CEO) Jeff Bezos attended an interactive session at 'Amazon Smbhav'. Amazon chief pondered on the idea of failure and talked about the culture in Amazon. He said, "Amazon is the best place to fail and the reason is that we have a lot of practice. There are experiments where you try to figure out something new. That is high quality failure because when you are experimenting you don't know it it's going to work." He further added, "Innovation is all about maximizing the rate of experimentation. You have to have a culture that supports failure." Amazon Smbhav focuses on empowering small and medium businesses (SMBs) in India. Bezos landed in India to attend the Smbhav event and also paid tribute to Mahatma Gandhi.

Equities crash on US-Iran tensions, Nifty sinks below 12,100

New Delhi, Jan 06 (ANI): Equity indices suffered a blow during early hours on Monday on the back of escalating geopolitical tension after a senior Iranian military official was killed by a US airstrike. At 10:15 am, the BSE S-P Sensex was down by 456 points to 41,009 while the Nifty 50 edged lower by 136 points at 12,094. All sectoral indices were in the negative terrain with Nifty PSU bank falling by 3.2 per cent, metal by 2.2 per cent, auto by 1.7 per cent and FMCG by 0.8 per cent.

Metal stocks lift equity indices after govt's push on infrastructure

New Delhi, Jan 02 (ANI): Equity benchmark indices were steady during early hours on Thursday with all sectoral indices in the green led by the metal, infrastructure and IT stocks. Finance Minister Nirmala Sitharaman recently announced a Rs 102 lakh crore infrastructure project pipeline for the next five years at a time when overall economic growth is slowing, a move that is likely to help the country nearly double GDP's size to five trillion dollars by 2025. At 10:15 am, the BSE S - P Sensex was up by 128 points to 41,434 while the Nifty 50 edged higher by 35 points at 12,217. Among stocks, JSW Steel gained by 2 per cent to trade at Rs 273.45 per share while Tata Steel too moved up by 2 per cent, Hindalco by 1.2 per cent and Vedanta by 0.8 per cent. UltraTech Cement ticked up by 1.2 per cent and Grasim by 1.1 per cent. Private lenders IndusInd Bank and ICICI Bank added gains of 0.7 per cent and 0.6 per cent respectively while Tata Motors accelerated by 1 per cent. However, Bajaj Auto,

Equities begin 2020 on a positive note led by metal stocks

New Delhi, Jan 01 (ANI): Equity benchmark indices started calendar 2020 on a firm note with most sectoral indices in the green during early hours on Wednesday. A day earlier, Finance Minister Nirmala Sitharaman announced a Rs 102 lakh crore infrastructure project pipeline for the next five years at a time when overall economic growth is slowing. The move is likely to help the country nearly double the size of GDP to five trillion dollars by 2025. At 10:15 am, the BSE S-P Sensex was up by 79 points to 41,333 while the Nifty 50 edged higher by 20 points at 12,189. Most sectoral indices at the National Stock Exchange were in the positive zone with Nifty metal up by 0.52 per cent, IT by 0.39 per cent and realty by 0.2 per cent. Among stocks, JSW Steel gained by 1.15 per cent to trade at Rs 273.15 per share while Vedanta moved up by 0.98 per cent and Tata Steel by 0.73 per cent. Adani Ports added gains of 1.97 per cent and engineering major Larsen - Toubro ticked up by 1.5 per cent. The

Air India's privatisation will be done as quickly as possible: Civil Aviation Minister

New Delhi, Dec 31 (ANI): Union Civil Aviation Minister Hardeep Singh Puri said that Air India has to be privatized and its privatisation will be done as quickly as possible. In the media brief, Hardeep Singh Puri said, "Air India has to be privatised. Since, we started talking about the approach towards 'privatisation', there has been a lot of interest from private entities, interest from established airlines." He further said, "We do not become a slave to or victim of certain deadlines, we are doing it seriously. We are trying to do it (privatisation of Air India) as quickly as possible."

Equities close on a flat note, Tata Motors up by 4.3% in closing session

New Delhi, Dec 30 (ANI): Equity parameters erased early gains due to profit-booking by traders on December 30 and closed flat after a choppy session. The BSE S-P Sensex closed 17 points lower at 41,558 while the Nifty 50 edged up by 15 points at 12,261. Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty PSU bank tumbling by 1.7%. However, Nifty auto gained by 1.51% and metal by 1.2%. Among stocks, Tata Motors emerged as the star of the day by adding gains of 4.31 per cent to wind up at Rs 183.75 per share. Eicher Motors was also up by 2.6 per cent while UPL, Nestle India and Vedanta were up by 1.48 to 1.82 per cent. However, banking majors had a bad time with Yes Bank down by 1.1 per cent, ICICI Bank by 0.9 per cent, Axis Bank by 0.5 per cent and state-owned State Bank of India by 0.8 per cent.

Cabinet approves signing of protocol to amend air services pact with Switzerland

New Delhi, Dec 24 (ANI): The Union Cabinet on December 24 approved the signing of a protocol to amend the agreement between Swiss Federal Council and the Indian government related to air services. The protocol covers exchange of diplomatic notes with Switzerland for bringing amendments in the air services agreement into force as per Article 17, according to an official statement. "The amendments in air services agreement between India and Switzerland will bring it in tune with developments in the civil aviation sector. It will provide enabling environment for enhanced and seamless connectivity while providing commercial opportunities to the carriers of both the sides ensuring greater safety and security," said the statement.

Cabinet approves promulgation of IBC (Amendment) ordinance 2019

New Delhi, Dec 24 (ANI): The Union Cabinet approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016 on December 24. While addressing a press conference in the national capital, the Union Information and Broadcasting Minister Prakash Javadekar said, "Modi government started Insolvency and Bankruptcy Code (IBC) to resolve the commercial disputes in an easy way and to ensure the early recovery of bank loans and government dues." "Foreign Direct Investment (FDI) will be encouraged to come and participate and our country's own investors will be benefitted with this." he added. "After that it will go to President for his approval and laterwards this ordinance will come into force," I-B minister further stated. The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said. The move is aimed at easing the insolvency resolution process and promoting the ease of doing business.

Equity indices close flat after choppy session, Reliance falls by 1.7 pc

New Delhi, Dec 23 (ANI): Equity benchmark indices saw a sharp fall in the afternoon session on Monday and closed flat in line with Asian peers. The BSE S-P Sensex closed 39 points lower at 41,643 while the Nifty 50 lost by 6 points at 12,266. At the National Stock Exchange, sectoral indices were mixed with Nifty PSU bank falling by 1.3 per cent. Among stocks, index heavyweight Reliance Industries lost by 1.76 per cent at Rs 1,570.95 per share. Yes Bank was down by 3.8 per cent, Nestle India by 2.4 per cent, State Bank of India by 1.6 per cent and Coal India by 1.5 per cent.

Equity indices volatile, metal stocks lead in opening session

New Delhi, Dec 23 (ANI): Equity benchmark indices see-sawed between gains and losses during early hours on December 23. Asian markets were flat due to weak volumes ahead of the Christmas holiday break. At 10:15 am, the BSE S-P Sensex was down by 38 points to 41,643 while the Nifty 50 was up by 3 points at 12,277. Most sectoral indices at the National Stock Exchange were in the green except for Nifty PSU bank. Nifty metal and media gained by 0.7 per cent each. Among stocks, index heavyweight Reliance Industries slipped by 2.08 per cent to trade at Rs 1,565.80 per share. The others in negative zone included Coal India, Nestle India, HDFC Bank and Adani Ports.

Nirmala Sitharaman chairs GST council meeting

New Delhi, Dec 18 (ANI): Union Finance Minister Nirmala Sitharaman chaired Goods and Services Tax (GST) council meeting in New Delhi on December 18. Minister of State for Finance and Corporate Affairs Anurag Thakur and Revenue Secretary Ajay Bhushan Pandey also took part in the meeting.

GST should not be imposed on agricultural inputs, demands BKS in Pre-Budget consultations meet

New Delhi, Dec 17 (ANI): The Union Minister of Finance and Corporate Affairs Nirmala Sitharaman held fourth Pre-Budget consultations with different stakeholder groups from agriculture and agro processing sectors in connection with the forthcoming General Budget 2020-21 on December 17. Bharatiya Kisan Sangh's (BKS) Organising Secretary, Dinesh Kulkarni has put their demands in the meeting. He said, "GST should not be imposed on agricultural inputs, cotton and other products. It should be removed from the markets because neither it is benefitting the farmers nor the customers." The main areas of discussion during the meeting included agricultural marketing reforms, organic and Natural farming, Agricultural Commodity Markets and future trading, storage infrastructure for agricultural produce, animal husbandry, Agro processing industry among others.