RBI monetary policy wears a party hat for bonds and bankshttps://t.co/LPQQ0tuotJ @aparnaviyer02
— Mint Mark to Market (@livemint_m2m) April 6, 2018
Highlights
- 9.43 am ISTRCom shares rise 2%
- 9.40 am ISTBinani Industries shares gain 7%
- 9.37 am ISTInterGlobe Aviation shares trade lower
- 9.35 am ISTRBI monetary policy wears a party hat for bonds and banks
- 9.33 am ISTRupee trades flat against US dollar
- 9.30 am ISTMarket update
BSE Sensex and NSE Nifty trade lower on Friday. Photo: Mint
- Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 opened flat and soon turned negative on Friday as trade war tension between US and China escalated after US President Donald Trump said on Thursday that he is ordering the US trade representative to consider $100 billion in additional tariffs on Chinese goods. Markets gained nearly 2% on Thursday as traders cheered RBI’s decision to cut inflation forecast and maintain status quo in monetary policy. Here are the latest updates from the markets:
- 9.43 am IST RCom shares rise 2%Reliance Communications Ltd shares rose 2.6% to Rs24 after the Supreme Court on Thursday cancelled a March order of the Bombay high court that had rejected the company’s appeal of an order from an arbitration tribunal barring the sale or transfer of its assets.
- 9.40 am IST Binani Industries shares gain 7%Binani Industries Ltd shares rose 7.6% to Rs109.25 after the company said it has filed application for termination of insolvency resolution process of its debt-ridden subsidiary Binani Cement.
- 9.37 am IST InterGlobe Aviation shares trade lowerInterGlobe Aviation Ltd shares fell 1.3% to Rs1,430.15 after the company said that it will not bid to acquire divestment-bound Air India’s entire airline business as its interest only lay in the national carrier’s international operations and subsidiary Air India Express.
- 9.35 am IST RBI monetary policy wears a party hat for bonds and banksRBI’s inflation forecast cuts have fired up the bond market that was already pleased with a lighter supply load
- 9.33 am IST Rupee trades flat against US dollarThe Indian rupee was trading little changed against US dollar on Friday in opening trade. The rupee opened at 64.99 a dollar. At 9.15am, the home currency was trading at 64.99 a dollar, down 0.03% from its Thursday’s close of 65.96. The 10-year bond yield was trading at 7.144% compared to its previous close of 7.127%. Bond yields and prices move in opposite directions.
- 9.30 am IST Market updateBSE Sensex traded lower by 34.43 points, or 0.10%, to 33,562.37, while the Nifty 50 edged down 10.20 points, or 0.10%, to 10,314.95.