Market Live: Nifty opens F&O expiry day lower, Sensex falls 100 pts And The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday While PNB moving to quickly resolve disputes with peer banks over fraud.
Market Live: Nifty opens F&O expiry day lower, Sensex falls 100 pts.
Benchmark indices opened lower on the day of expiry of March derivative contracts, tracking the negative lead from global stocks.
The 30-share BSE Sensex was down 124.15 points at 33,050.24 and the 50-share NSE Nifty fell 56.10 points to 10,128.10.
Tata Steel, Vedanta, SBI and Yes Bank were lowered in early trade.
Benchmark indices opened lower on the day of expiry of March derivative contracts, tracking the negative lead from global stocks.
The 30-share BSE Sensex was down 124.15 points at 33,050.24 and the 50-share NSE Nifty fell 56.10 points to 10,128.10.
Tata Steel, Vedanta, SBI and Yes Bank were lowered in early trade.
Nifty Midcap was down 146 points.
Kwality plunged 20 percent, hitting fresh 52-week low. Fortis Healthcare, Persistent Systems, Edelweiss Financial, Delta Corp, Balrampur Chini, Indoco Remedies, Bandhan Bank, Cummins and IDBI Bank fell up to 9 percent.
Tejas Networks, Bodal Chemicals, and Biocon gained.
The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday.
Kwality plunged 20 percent, hitting fresh 52-week low. Fortis Healthcare, Persistent Systems, Edelweiss Financial, Delta Corp, Balrampur Chini, Indoco Remedies, Bandhan Bank, Cummins and IDBI Bank fell up to 9 percent.
Tejas Networks, Bodal Chemicals, and Biocon gained.
The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday.
Indian rupee opens 10 paise higher at Rs 64.88 per dollar.
The rupee is expected to remain in the range of 64.50-65 with a positive bias, says Pramit Brahmbhatt of Veracity.
The rupee is expected to remain in the range of 64.50-65 with a positive bias, says Pramit Brahmbhatt of Veracity.
The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday.
Pramit Brahmbhatt of Veracity said, "The rupee is expected to remain in the range of 64.50-65 with a positive bias. Support from the domestic equity market and pressure on US dollar globally may push the USD-INR towards 64.50."
The US dollar rebounded in trade, surging from a 5-week low on the back of easing tensions of a global trade war and support from month-end flows. Euro slipped as inflation concerns resurface.
Dhawal Dalal of Edelweiss said, "Government bond market witnessed an unprecedented relief rally yesterday after the government surprised with lower-than-expected market borrowing for H1FY19."
"We expect govt bond market to maintain its momentum in the near term ahead of the financial year-end and negative bond supply in April 2018."
"We expect the 10-year benchmark bond yield to trend towards 7.25 percent and consolidate in 7.20-7.4 percent range in the near term," he added.
Pramit Brahmbhatt of Veracity said, "The rupee is expected to remain in the range of 64.50-65 with a positive bias. Support from the domestic equity market and pressure on US dollar globally may push the USD-INR towards 64.50."
The US dollar rebounded in trade, surging from a 5-week low on the back of easing tensions of a global trade war and support from month-end flows. Euro slipped as inflation concerns resurface.
Dhawal Dalal of Edelweiss said, "Government bond market witnessed an unprecedented relief rally yesterday after the government surprised with lower-than-expected market borrowing for H1FY19."
"We expect govt bond market to maintain its momentum in the near term ahead of the financial year-end and negative bond supply in April 2018."
"We expect the 10-year benchmark bond yield to trend towards 7.25 percent and consolidate in 7.20-7.4 percent range in the near term," he added.
PNB moving to quickly resolve disputes with peer banks over fraud says report.
Punjab National Bank is working with the government and the Reserve Bank to try to settle a dispute over claims from counterparty banks in a $2 billion fraud by the end of March, sources told Reuters. Top PNB executives met senior Finance Ministry officials on Tuesday for discussions on the fraudulent letters of undertaking, the source said, adding PNB was likely to meet RBI officials on the issue this week.
Punjab National Bank is working with the government and the Reserve Bank to try to settle a dispute over claims from counterparty banks in a $2 billion fraud by the end of March, sources told Reuters. Top PNB executives met senior Finance Ministry officials on Tuesday for discussions on the fraudulent letters of undertaking, the source said, adding PNB was likely to meet RBI officials on the issue this week.
PAN-Aadhaar linking deadline extended to June 30: CBDT
The policy-making body of the tax department issued an order extending the deadline from the current last date of March 31.
The CBDT today extended the deadline for the PAN-Aadhaar linking to June 30.
The CBDT today extended the deadline for the PAN-Aadhaar linking to June 30.
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The policy-making body of the tax department issued an order extending the deadline from the current last date of March 31.
The order said the deadline for PAN-Aadhaar linking for filing I-T returns is being extended after "consideration of the matter".
It is understood that the latest order by the Central Board of Direct Taxes (CBDT) has come in the backdrop of the Supreme Court, earlier this month, directing extension of the March 31 deadline for linking Aadhaar with various other services.
The order said the deadline for PAN-Aadhaar linking for filing I-T returns is being extended after "consideration of the matter".
It is understood that the latest order by the Central Board of Direct Taxes (CBDT) has come in the backdrop of the Supreme Court, earlier this month, directing extension of the March 31 deadline for linking Aadhaar with various other services.
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