The Reserve Bank of India (RBI) on Wednesday came out with comprehensive draft guidelines to harmonise and regulate gold loans across all financial entities, including putting a cap of 75 per cent on loan-to-value (LTV) ratio. The draft guidelines also aim to address concerns related to certain lending practices, provide clarity on specific aspects, and strengthen the conduct-related standards in the sector.
The rupee on Tuesday recovered from its all-time intra day low of 77.79 to close higher by 7 paise on a stellar rally in domestic stock markets. After opening lower at 77.67, the local unit plunged further to its all-time intra-day low of 77.79 due to a spike in crude oil prices and disappointing macroeconomic data. However, a strong rally in domestic equities helped the rupee rebound and close at 77.48 (provisional), showing net gains of 7 paise over the last close of 77.55. The forex market was closed on Monday on account of Buddha Purnima.
The government and farmer unions have held 11 rounds of talks so far, the last being on January 22, to break the deadlock and end the farmers' protest. Talks have not resumed following widespread violence during a tractor rally by protesting farmers on January 26.
The dollar index was last trading up by 0.04 per cent against a basket of six major global rivals.
The rupee ended lower by 7 paise to 62.31 against the American currency on fresh dollar demand from banks.
Passage of the long-pending Goods and Services Tax bill and a unanimous resolution on Kashmir were the highlights of the "highly productive" Monsoon session of Parliament which was adjourned sine die on Friday after 20 sittings.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player Index of IPL 2023 after Game 52.
Doctors have suggested immediate hospitalisation of yoga guru Ramdev whose indefinite fast against corruption and black money entered seventh day today as his health parameters continued to remain "worrisome".
Senior Congress leader Digvijaya Singh on Sunday ended his seven-day-long fast in Guna seeking immediate disbursal of compensation to farmers affected by the crop damage and a Central Bureau of Investigation probe into the alleged Madhya Pradesh Professional Examination Board scam.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Due to weakness in domestic equities and strong dollar demand, rupee shed its month and a half high against follar.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 7 per cent, followed by SBI, ICICI Bank, HDFC twins, Axis Bank, Bajaj Finserv and UltraTech Cement. NSE Nifty soared 245.35 points to 14,923.15.
Sena leaders had claimed that the governor had granted 72-hours to the BJP (105), the single largest party, to stake claim to form a government. The BJP on Sunday declined to form a government for want of numbers.
On the Sensex chart, major laggards were SBI, Axis Bank, L&T, Hero MotoCorp, Asian Paints, ONGC, Tata Steel and Bajaj Finance -- dropping up to 3.56 per cent. Among the top gainers were Infosys, RIL, TechM, Tata Motors, Maruti, PowerGrid, HCL Tech, TCS and Yes Bank - rising up to 3.78 per cent.
The dollar was firm against some global currencies.
RIL, HDFC Bank, Hindalco, Coal India among the top losers.
Top seeds Sania Mirza and Martina Hingis continued their rampaging form and recorded a straight set victory in their opening match of the year-ending $7 million WTA Finals in Singapore.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
MotorOctane tells you how to make them enjoyable as you soak in the glory of your journeys.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
The decline was led by index heavyweight Reliance Industries along with ITC and HDFC.
The market staged a smart recovery on Tuesday following bargain hunting in stocks at lower levels, after six straight sessions of losses. \n\n
Carlo Ancelotti has become Real Madrid president Florentino Perez's latest managerial victim, just 366 days after delivering the club their much-awaited La Decima, a 10th Champions League title.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
The broader markets also ended lower in line with the benchmark indices
On Monday, ISRO scientists will run a test of the Mars orbiter satellite's main engine and make a small course correction. This is crucial because the engine has been idle for nearly 10 months. T E Narasimhan reports
The market for compact cars has become really cut-throat.
Ruthless Bayern Munich scored five goals in the first 35 minutes on the way to a 7-1 demolition of AS Roma on Tuesday which bore an uncanny resemblance to Germany's win over Brazil by the same score in the World Cup semi-final.
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