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Sensex tanks 92 points on inflation woes
Posted on 15th November 2017
Key benchmark indices in stock markets traded under pressure taking cues from subdued trading activity in global stocks.

The market topped the key 33000-level multiple times only to make a close below it. The BSE Sensex fell 91.69 points, or 0.28%, to close at 32941.87.

On the other hand, Nifty ended down 38.35 points, or 0.38%, ending at 10186.60, after shutting between 10248 and 10175.55.

Larsen and Toubro fell 2.46%, PowerGrid moved down 2.20%, Asian Paints lost 1.77%, TCS ended down 1.53%, ONGC slipped 1.25% and Sun Pharma tanked 1.19%. Dr Reddy’s, Tata Steel, Tata Motors, Adani Ports, ITC, HDFC Bank, SBI and Coal India were among other losers.

Macro-economic data, showing a risk in India’s inflation last month also added to investor worries. Inflation based on consumer price index (CPI) accelerated to 3.58% in October 2017, mainly driven by higher prices of food and fuel.

Additionally, global cues like uncertainty over US tax reform, slowdown in Chinese factory output and growing political issues in the UK weaned investors away from placing more bets.

Share sale by foreign portfolio investors wasworth a net Rs 233.58 crore on Monday. Domestic institutional investors also let go of shares net Rs 268.77 crore.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
Sebi approves KYC norms for FPIs, new settlement mechanism
Posted on 18th September 2018
Mumbai: The Securities and Exchange Board of India (Sebi) today approved a slew of proposals, including revised framework for settlement of cases and new know-your-customer (KYC) norms for foreign portfolio investors (FPIs). The proposals were cleared by the Sebi board at its meeting in Mumbai.

FSSAI to review progress on de-listing of non-licensed restaurants in October
Posted on 18th September 2018
Food regulator FSSAI will review in the first week of October the progress made by the online food delivery platforms, including Zomato and Swiggy, on delisting of non-licensed restaurants and catering establishments. In July this year, FSSAI had directed the food delivery platforms to de-list non-licensed establishments after getting consumer complaints of sub-standard food being served through e-commerce platforms.

BHEL flags off its first 6K HP electric locomotive
Posted on 18th September 2018
Expanding its footprints in the transportation sector, state-run engineering major BHEL Monday flagged off its first 6,000HP electric locomotive from its Jhansi plant.

“As part of its diversification initiatives, Bharat Heavy Electricals Ltd (BHEL) has flagged off of its first 6,000HP electric locomotive (Type WAG-9H),” a company statement said.


RCom to monetise enterprise, global undersea cable businesses: Anil Ambani
Posted on 18th September 2018
NEW DELHI: Reliance Communications’ (RCom) Chairman Anil Ambani said that the debt saddled operator has complete backing of its global and Indian lenders in its asset monetisation plan and will monetise its enterprise and GCX businesses.

The operator’ asset monetisation deal is with Reliance Jio for fibre, spectrum, MCN, tower and some of its land parcels will go to Canadian asset management firm Brookfield for a total of about Rs 18,000 crore.


SBI to recover dues worth over Rs 3,900 crore by selling 8 NPAs
Posted on 18th September 2018
The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs). “In terms of the bank’s revised policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated,” the bank said in the bid document on its website.

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