StockMarket

ECBpower struggle will all end in tiers
By Marcus Ashworth

With Mario Draghi halfway out of the door, the battle is on for the future direction of European Central Bank monetary policy. The nature of the contest is arcane, to say the least.

For a while now, the Banque de France governor Francois Villeroy de Galhau has been pushing the idea of ‘tiering’ deposit rates to ease the pain tha

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After Market: Equity investors richer by Rs 9L cr in FY19; MSTC makes tepid debut
NEW DELHI: Financial year 2018-19 turned out to be the best in four for domestic equities, despite several headwinds and a crippling bear hug midway through the year.

Sensex wrapped up the financial year with 17 per cent gains to close at 38,672 on Friday, up 127 points, or 0.33 per cent, for the day, while Nifty settled 54 points, or 0.47 per

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Share market update: Auto shares in the green; Bharat Forge rises 3%
NEW DELHI: Auto shares were trading in the green in Friday's morning session.

Shares of Bharat Forge (up 3.28 per cent), Ashok Leyland (up 2.77 per cent), Tata Motors (up 2.55 per cent) and Tata Motors (up 2.37 per cent) were the top gainers in the index.

Mahindra - Mahindra (up 2.07 per cent), Motherson Sumi Systems (up 1.99 per cent),

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NEW DELHI: Benchmark stock indices ended FY19 on a strong note after starting the fi nancial year on a weak footing as foreign entities pumped in money and the prospects of the Narendra Modi-led NDA government retaining power appeared brighter. But broader markets ended weaker owing to sharp losses in the early part of the fiscal year.

The gains

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Govt to borrow Rs 4.42 lakh crore in H1FY20, introduce 7-year benchmark bond
Announcing borrowing calendar for the next financial year, Economic Affairs Secretary Subhash Chandra Garg on Friday said the government will raise Rs 4.42 lakh crore through gilts in the first half of FY20. The borrowing for the second half is set at Rs 2.68 lakh crore.

Interim Finance Minister Piyush Goyal in Budget for FY20 had pegged gross

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PNB sells stake in PNB Housing Fin for Rs 1,851.60 crore
NEW DELHI: Punjab National Bank (PNB) will sell its stake in PNB Housing Finance to General Atlantic and Varde Partners for Rs 1,851.60 crore, the lender told exchanges on Friday.

Varde Partners and General Atlantic will buy 1.09 crore shares each. The shares will be acquired at Rs 850 per share, valuing the purchase at Rs 925.80 crore each for

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Trade optimism pulls Wall Street higher on final day of quarter
US stocks rose on Friday, with the S-P 500 set to post its best quarterly performance in more than nine years, boosted by optimism over the latest round of trade negotiations between the United States and China.

Treasury Secretary Steven Mnuchin said U.S. held "constructive" talks in Beijing, while Chinese state news agency reported the two

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China, US giving final touches to the text of trade deal
By Jenny Leonard and Jeffrey BlackChinese and U.S. negotiators have been working line-by-line through the text of an agreement that can be put before President Donald Trump and counterpart Xi Jinping to defuse a nearly year-long trade war, according to officials familiar with the matter.

U.S. Treasury Secretary Steven Mnuchin and U.S. Trade

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MSTC lists at 7.5% discount to issue price of Rs 120
MUMBAI: Shares of Kolkata-headquartered MSTC on Friday made a tepid market debut, as the scrip got listed at Rs 111 on BSE, a discount of 7.5 per cent to its issue price of Rs 120.

The Rs 226 crore initial public offer, which opened on March 13, could not sail through during the stipulated three-day period.

The company had to extend initial

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Disappointed with S P rating downgrade: JLR
New Delhi: Tata Motors-owned Jaguar Land Rover (JLR) Friday said it is disappointed by S-P's decision to downgrade its credit rating but added that it expects better cash flow in the fourth quarter.

In a regulatory filing, JLR said it expects improved financial results in the fourth quarter period to March 31, 2019, compared to the first nine

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Tech View: Nifty50 forms Pin Bar candle, a hold above 11,570 key to upside
NEW DELHI: Nifty50 on Friday topped the 11,600 level and formed a bullish Pin Bar candle on the daily chart. The lower wick of the candle was long, suggesting buying at lower level. This was the fourth session when the index hit higher highs and lows. Analysts see signs of caution, but said Friday’s session failed to give any clear sell signal.

Mo

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Sensex jumps 150 points, Nifty tops 11,600 amid firm global cues
NEW DELHI: Domestic equity indices opened higher on Friday, tracking gains in global peers amid revived hopes of progress in US-China trade talks.

The domestic currency edged higher amid firm foreign inflows which lent further support to the market sentiment. The rupee on Friday opened 15 paise higher at 69.18 against the US dollar due to some

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Falling inflation Numbers from states don't say so: HDFC Bank
The economy is far from a sustainably low inflation environment as there is a divergence between the states on the price rise, a report has said.

The report by house economists at largest private sector lender HDFC Bank Friday comes days ahead of the monetary policy review scheduled for next Thursday.

"The real question is how deep or shallow this

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F O: A small followup rally can lift Nifty50 to new lifetime high
By Chandan TapariaThe Nifty50 opened positive on Friday and headed towards the 11,630 mark. But it consolidated in a range of 50 points for most part of the session, being the last day of FY2018-19. The index has been forming higher highs and lows for last four sessions and formed a Pin Bar on the daily scale on Friday while a strong bullish
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SBI Life, Landmark Properties among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 83.59 points up at 38,629.31 on Friday on account of buying in frontline bluechip counters.

Shares of Landmark Properties (down 14.21 per cent), RMC Switchgears (down 12.89 per cent), Prakash Constrowell (down 11.69 per cent), Vama Industries (down 10.86 per cent), Hind Everest (down

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UK lawmakers reject PM May's Brexit deal for third time
LONDON: Lawmakers rejected Prime Minister Theresa May's Brexit deal for a third time on Friday, sounding its probable death knell and leaving Britain's withdrawal from the European Union in turmoil on the very day it was supposed to quit the bloc.

The decision to reject a stripped-down version of May's divorce deal has left it totally unclear how,

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Share market update: IT shares advance; Infibeam Avenues rises 2%
NEW DELHI: IT shares were trading higher in Friday's morning session.

Shares of Infibeam Avenues (up 2.37 per cent) , Wipro (up 1.16 per cent) , Oracle Financial Services Software (up 1.07 per cent) and Infosys (up 0.58 per cent) were the top performers in the index.

Mindtree (up 0.45 per cent) , Tata Elxsi (up 0.31 per cent) , Tech Mahindra (up

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Vodafone Idea, Tata Metaliks among top gainers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 141.95 points up at 38,687.67 on account of buying in frontline bluechip counters.

Shares of Ishaan Infrastructures - Shelters (up 18.61 per cent) , Blue Chip Texiles (up 18.25 per cent), Arihant Institute (up 14.62 per cent), Vodafone Idea (up 14.22 per cent), Nagarjuna

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HDFC Bank says not party to United Spirits case in PMLA court
Mumbai: HDFC Bank Friday said it is not a party to the proceedings in the PMLA court regarding liquidation of shares of United Spirits to recover dues owned by Vijay Mallya companies.

PTI had erroneously reported on Thursday that HDFC Bank had moved the special PMLA (Prevention of Money Laundering Act) court here against SBI-led bankers'

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Britannia replaces HPCL in Nifty50 club; stocks rise up to 3%
NEW DELHI: Shares of Britannia Industries rose over 1 per cent on Friday as the company replaced Hindustan Petroleum Corporation in the Nifty50 today.

The scrip jumped over 1 per cent to hit a high of Rs 3124. Later, the scrip was hovering at Rs 3100.30, up 0.40 per cent at 10:12 am. This was against 0.23 per cent rise in the BSE Sensex.

Meanwhil

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Buzzing stocks: Vodafone Idea, SBI,YES Bank, TCS, RIL
NEW DELHI: Vodafone Idea with over 0.99 crore shares changing hands was leading among the most traded stocks on NSE on Friday.

Shares of Reliance Power (number of shares traded: 0.24 crore) , Suzlon Energy (number of shares traded: 0.21 crore) , PNB (number of shares traded: 0.19 crore) , SBI Life Insurance Company (number of shares traded: 0.18

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Pakistan central bank raises interest rate to 10.75%
ISLAMABAD: Pakistan's central bank raised its key interest rate by 50 basis points to 10.75 percent on Friday, citing continuing inflationary pressures and a high fiscal and current account deficit.

The State Bank of Pakistan said pressure on foreign exchange reserves had eased since the last meeting of the monetary policy committee in January,

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Share market update: PSU Bank shares mixed; Canara Bank dips 2%
NEW DELHI: Shares of PSU banks were trading on a mixed note in Friday's morning session.

Shares of IDBI Bank (up 3.59 per cent), Central Bank of India (up 3.00 per cent), Vijaya Bank (up 2.11 per cent) and Indian Bank (up 1.68 per cent) were trading higher.

Canara Bank (down 1.99 per cent), Bank of India (down 1.65 per cent), Union Bank of India (

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‘Council, curbs on grants by govts to help fiscal consolidation&
New Delhi: Fifteenth finance commission chairman NK Singh pushed for an alternative institutional mechanism to keep a check on the fiscal consolidation road maps of both the centre and states. Singh also pitched for circumscribing the Article 282 of the Constitution that allows centre and states to make grants for any public purpose that makes it
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Investor wealth zooms Rs 8.83 lakh crore in FY19
New Delhi: Investors' wealth zoomed Rs 8.83 lakh crore during 2018-19 fiscal driven by a rally in the broader market where the BSE benchmark jumped over 17 per cent.

The 30-share Sensex advanced 5,704.23 points or 17.30 per cent during 2018-19. It rose 127.19 points to finish at 38,672.91 on Friday, the last trading day of the financial year.

Durin

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WABCO India jumps 11% on merger agreement with ZF
NEW DELHI: Shares of WABCO India jumped 11 per cent on Friday as the company entered into a definitive merger agreement with ZF Friedrichshafen AG, a privately-held global leader in driveline and chassis technologies.

The scrip surged 11 per cent to hit a high of Rs 7082.65. Later, the scrip was hovering at Rs 6793.45, up 6.77 per cent at 10:00

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Buy Indian Bank, target Rs 290: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a buy call on Indian Bank with a target price of Rs 290. The current market price of Indian Bank is Rs 276.45. Time period given by the analyst is Intra Day when Indian Bank price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 270. Indian Bank, incorporated in 1907, has a market
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Trade deficit pushes CAD to 2.5 per cent of GDP in Q3
The country's current account deficit widened to 2.5 per cent of GDP in the third quarter of the current fiscal from 2.1 per cent a year ago, primarily on account of a higher trade deficit though the foreign exchange reserves continued to soar.

Meanwhile, the data released by the Controller General of Accounts (CGA) revealed that the central

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Voda Idea surges 16%; operator seeks equal stake in optic fibre JV
NEW DELHI: Shares of Vodafone Idea surged 16 per cent on Friday on reports that the company is pushing for equal stake in a proposed Rs 40,000-crore optic fibre joint venture with Bharti Airtel.

The scrip surged 16 per cent to hit a high of Rs 20.45. Later, the scrip was hovering at Rs 19.25, up 10 per cent at 09:48 am. This was against 0.23 per

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Investors and traders are increasingly complaining of benchmark indices — Nifty and Sensex — not giving the real picture of the market. While the Nifty is up 12 per cent in the past year, more than 75 per cent stocks are in the negative. Hence, smart investors are now increasingly tracking advance-to-decline ratio more closely, a technical tool
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