- Bond yeilds jump to 6.31 percent
- Rupee dropped 3 paise against the U.S. dollar
- RBI withdraws the incremental CRR effective from the fortnight starting December 10
#BQSpotted Oriental Veneer is locked in 5% lower circuit for the 5th straight day. By @shraddha_babla
— BloombergQuint (@BloombergQuint) December 7, 2016
Read| https://t.co/7D4YCDSEvd pic.twitter.com/mUDXnTid5o
Pre-RBI Policy Market Check @ 10.30AM:
— Shraddha Babla (@shraddha_babla) December 7, 2016
Nifty:+0.1%(8,152)
Bank Nifty: +0.3%(18,469)
10-yr bond yield: -2bps (6.182%)
USD/INR: flat@ 67.84 pic.twitter.com/FPzv5aa67Q
BQSpotted
Innovative Tech Pack Jumps On Dabur Contract
- Container manufacturer and packaging company
- Stock is up 16 percent today followed by 17 gain on Tuesday
- Market capitalisation of Rs 148 crore
- The company signed a 5-year contract with Dabur valued at around Rs 400 crore
#BQSpotted Manpasand Beverages is falling on high volumes. By @AgamVakil
— BloombergQuint (@BloombergQuint) December 7, 2016
Read| https://t.co/7D4YCDSEvd pic.twitter.com/oIUdb3iDHH
#BQSpotted @soumeet_sarkar puts the spotlight on MMTC, a stock that's been rallying ahead of its earnings
— BloombergQuint (@BloombergQuint) December 7, 2016
Read| https://t.co/7D4YCEafmL pic.twitter.com/RLpt5O88ao
Yesterday, the local currency had staged a strong recovery by gaining 31 paise to close at 67.90 -- its highest level in three weeks -- on heavy dollar selling and rising expectations of a rate cut by RBI.
(PTI)
Movers & Shakers: Lupin, IL&FS Transportation, Jubilant FoodWorks And More
For complete list of stocks to watch, click HERE
Talking Points- RBI will probably cut repurchase rate by 25 basis points to 6 percent, according to 31 of 44 economists in Bloomberg survey; 5 forecast 50 basis points reduction, 8 see no change
- Goldman Sachs slashes Indian growth estimates amid currency crackdown
- Tata decisions have potential to hurt shareholders: Mistry office
- India moving towards being a fully gas-based economy: Pradhan
- Numaligarh to sign term contract with Kenya for paraffin wax
- ExxonMobil sees demand for 175 million ton more LNG by 2030
- India joins Japanese calls for U.K. to work together on Brexit
- India November steel imports drop 31 percent YoY to 598,000 tonne
- India Dec. palm oil imports may drop at least 11 percent YoY: GGN
- Justice J.S. Khehar to be next chief justice of India (PTI)
- India’s indebted electric retailers seen scaring off investors
- Moody’s unit puts 3 India MFIs on negative watch after cash ban
- Government orders banks to install additional one million point of sale devices by March 31
- Global funds buy Rs 162 crore of local stocks; domestic funds sell Rs 165 crore yesterday: Provisional data
Asian stocks rise, following a rally in the U.S. markets. Crude hovers around $51.
— BloombergQuint (@BloombergQuint) December 7, 2016
Read| https://t.co/6QnMfihlte pic.twitter.com/45gMq9F0AM
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