Stocks in Mumbai edged lower after the Reserve Bank of India hiked rates by 0.25% as expected but lifted the current fiscal year inflation estimate to 8% from 7%. Rate sensitive automakers, banks and real estate developers led the decliners.
Stocks in Mumbai closed higher following gains in Asian markets and a rebound in sentiment ahead of the rate decision tomorrow. The ten largest companies by market cap paid 25% more advance tax for the current quarter.
Stocks in Mumbai plunged more 2.7% at the opening but recovered to close down 1.3% after a panic selling in Japan sparked a selloff in Asia. Indian government needs to shed more light on its recently signed treaty with nuclear power plant makers on the safeguard provisions and liability assignments.
Stocks in Mumbai trading surged after crude oil prices eased. The benchmark Sensex index soared 1.4% and Reliance Industries and state controlled refineries gained more than 5%. Reliance Capital soared 10% after it sold 26% stake in its life insurance subsidiary to Nippon Life.
Stocks in Mumbai traded lower after industrial production rose less than expected in January. Markets opened lower on weak economic data in U.S. and spread of unrest in the Middle East to Saudi Arabia.
Stocks in Mumbai declined on a weakness in global markets and crude oil traded near recent highs. The latest read on inflation showed a decline in food prices. Exports in February increased 49.8% to $23.6 billion but trade deficit hovered near $8 billion.
Stocks in Mumbai closed higher as gold and silver traded near record prices. Market is awaiting industrial production data on Friday. After the close China Development Bank finalized the $1.9 billion loan facility for Reliance Communications.
Stocks in Mumbai rebounded on the second day after a regional party that earlier withdrew its support to the ruling coalition in New Delhi. The slight decline in oil price also lifted sentiment in trading. Hero Investments agreed to acquire the 26% stake from Honda in Hero Honda.
Mumbai stocks closed lower after oil hit another high and political concerns rose in New Delhi. Regional party DMK withdrew its support to the ruling coalition that may stymie government economic agenda. Rate sensitive stocks led the decliners.
Mumbai stocks surrendered earlier gains. Union Cabinet approved the banking reform bill that will increase shareholder voting right proportional to holding and require an approval for a stake higher than 5%. Tata Power plans to increase its generating capacity eightfold in the next seven years.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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