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- Stocks to watch: IndusInd Bank, HDFC Life, Mindtree, Tata Steel, ICICI Pru
- IndusInd Bank Q4 preview: Profit may dip 95% QoQ on exposure to telecom cos
- Sensex up 700 pts as RBI rolls out Rs 50k crore liquidity facility for MFs
- Market Ahead, April 27: Top factors that could guide markets this week
- Finance Ministry, Sebi question mutual funds on Franklin Templeton fiasco
- Commodity picks: 27 April, 2020
Sensex up 700 pts as RBI rolls out Rs 50k crore liquidity facility for MFs
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SI Reporter |
Last Updated at April 27, 2020 11:36 IST
EVENT HIGHLIGHTS
The Indian markets surged on Monday, with major contribution from financial stocks after the Reserve Bank of India announced a Special Liquidity Facility (SLF) for Mutual Funds worth Rs 50,000 crore. READ MORE
"Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate. The SLF-MF is on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday," the RBI said in a statement.
The S&P BSE Sensex jumped 760 points, or over 2.4 per cent, to 32,060. The Nifty50 index surpassed 9,350 levels after the Reserve Bank of India announced a Special Liquidity Facility worth Rs 50,000 crore for Mutual Funds.
All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 3 per cent.
Among individual stocks, financial stocks including Axis Bank, ICICI Bank, and IndusInd Bank were among the top gainers.
"Under the SLF-MF, the RBI shall conduct repo operations of 90 days tenor at the fixed repo rate. The SLF-MF is on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday," the RBI said in a statement.
The S&P BSE Sensex jumped 760 points, or over 2.4 per cent, to 32,060. The Nifty50 index surpassed 9,350 levels after the Reserve Bank of India announced a Special Liquidity Facility worth Rs 50,000 crore for Mutual Funds.
All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 3 per cent.
Among individual stocks, financial stocks including Axis Bank, ICICI Bank, and IndusInd Bank were among the top gainers.
RESULTS TODAY
IndusInd Bank and Ambuja Cements are scheduled to announce their March quarter results today.
Private lender IndusInd Bank’s net profit may plunge by as much as 95 per cent sequentially when it reports its March quarter earnings for financial year 2019-20 (FY20) on Monday. The number, analysts fear, may drop on the back of higher provisioning amid asset quality concerns in the wake of coronavirus (Covid-19) outbreak, and weak loan disbursement. READ PREVIEW HERE
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