MUMBAI: The BSE benchmark Sensex marked biggest loss not seen since five weeks, dropping 448.86 points to finish at 26,040.70, while the broader Nifty dipped below the psychological 8,000-level.

Bearishness tagged the trading momentum from day-one of the week, borne by cascading effect of demonitization, it was further restricted by mute sentiment across the globe due to long Christmas and New Year holidays.

Washington: US President Barack Obama has signed into law the $618 billion defence budget for 2017, which enhances security cooperation with India and conditions nearly half of the funding to Pakistan on a certification that it is taking demonstrable steps against the Haqqani Network.

Currently vacationing in Hawaii, Obama on Friday signed the National Defence Authorisation Act (NDAA) 2017, which asks defence secretary and secretary of state to take steps necessary to recognise India as America’s “major defence partner”.

New Delhi: Private sector Yes Bank on Saturday said it has raised Rs3,000 crore from bonds to fund business expansion. With this capital raising, the bank’s Tier-1 Capital Ratio will be at 12% including profits and adjusted for pro-rata dividends, Yes Bank said in a statement.

The Basel-III compliant additional Tier-1 (AT1) Bonds will be listed on the Bombay Stock Exchange (BSE) and its proceeds will qualify for Basel III Tier-I Capital. The bonds, carrying a coupon rate of 9.50%, witnessed participation from insurance companies, mutual funds, pension funds, provident funds, banks amongst others.

New Delhi: India’s largest car maker Maruti Suzuki India Ltd on Friday said that it has started to see an uptick in demand for its vehicles after weeks of sluggishness caused by demonetization.

The combined retail sales for Maruti in the festive months of October and November were 6-7% higher than the year-ago period but bookings in November fell drastically, company chairman R.C. Bhargava said.

Markets regulator Sebi has barred Sunshine AgroInfra Ltd (SAIL) and its directors from mobilising funds from investors through issuance of securities till further orders.

The entities have also been restrained from accessing the market, the Securities and Exchange Board of India (Sebi) said in an interim order.

State-run Oil and Natural Gas Corporation Ltd (ONGC) on Friday approved the plan to acquire the entire 80 per cent participating interest of Gujarat State Petroleum Corporation Ltd’s (GSPC) block in the Krishna- Godavari basin at $995.26 million.

ONGC will also pay part consideration of $200 million to GSPC towards future consideration for six discoveries other than the Deen Dayal West Field, which will be adjusted upon valuation of the discoveries subsequent to approval their field development plans by the Directorate General of Hydrocarbons. The transaction would be documented by signing a farm-in agreement with GSPC.

New Delhi: To tackle growing congestion woes and lack of parking space across the country, the central government is looking to make it compulsory for car buyers to obtain an adequate parking space certificate.

Addressing a press conference in the national capital, urban development minister M. Venkaiah Naidu said that in the future it would be compulsory for cars to provide an adequate parking space certificate.

Mumbai: Breaking a seven-day losing pattern, the Sensex on Friday reclaimed the key 26,000-mark by recovering 61 points, helped by gains in pharma, auto and capital goods.

For the week, the Sensex lost 448.86 points, or 1.69%, while the broader NSE Nifty dropped 153.70 points, or 1.88%. This is their biggest weekly in five, which is since the week ended 18 November. Domestic investors backed up and covering-up of short positions gave equities a push too.

Reliance Communications Ltd (RCom) said it has signed a binding agreement with Brookfield Infrastructure Group to sell its tower assets.

It will receive an upfront payment of Rs11,000 crore, besides ‘B’ class non-voting shares in the tower company.

MUMBAI: ICICI Bank has launched a mobile application for merchants that allows consolidation of all modes of payments, including digital wallets, Unified Payments Interface (UPI), QR code, and credit & debit cards. The app, eazypay , which is designed for business, allows multiple users to connect to the same account. This makes it possible to be used for cash-on-delivery payments.

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