Daily Archives: Tuesday January 1st, 2019

Market closes with edge

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The Mumbai-New Year’s Anuj Bazaar has done a great deal of speed. Although the beginning may have been weak, but there were excellent returns from the lower levels in the market after crossing it. The market also got support from a better global signal. Nifty has managed to close above 10900 and Sensex above 36000 today. In today’s trade, the Nifty was up by a whopping 100 and Sensex by 350 points.
At the turn of the end, the BSE 30-share index Sensex climbed 186.24 points, or 0.52 per cent, to close at 36254.57. On the other hand, NSE’s 50-share index Nifty climbed 47.55 points, or 0.44 per cent, to close at 10,910.10. Public sector banks and real estate stocks today witnessed good purchases. The small and mid-cap index also closed with good growth.

Bharti Airtel, Bharti Infra, HDFC and HDFC Bank are among the biggest gainers. At the same time, the worst decline was seen in M & M, Hindalco, HUL and ONGC. With the government’s capital infusion, the public banks are lively. A sum of Rs 3,676 crore has been earmarked in UCO Bank, while central bank has Rs 1675 crore. At the same time, the Bank of Maharashtra has given a new capital of Rs 450 thousand crore. Today all these shares are run by getting the capital. UCO Bank has raised about 10 per cent, while Bank of Maharashtra has seen an increase of 3 per cent. Central Bank has also grown 1.5 percent.

Aviation companies have taken off the flight from ATF prices. In fact, the ATF in Delhi has become almost 14.75 per cent cheaper since today. For the second time in a row, ATF prices have been cut in double digits. The reason for this is that Jet Airways, Interglobe Aviation and SpiceJet have seen an increase of 0.5 to 1 per cent.

The beginning of the year for wine companies has happened with the pressure. The Maharashtra government has increased the excise duty on liquor by 20 percent. Increasing excise duty has resulted in the weakness of 1.5 to 2 per cent of shares of alcohol companies like Radico Khaitan and United Spirits.

HDFC increased interest rates

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Mumbai-based housing major HDFC has increased its interest rates by 10 basis points. This will give more interest to new customers for housing loans. With this increase, loan rates in different slabs will be between 8.90 percent and 9.15 percent.
However, for women, this interest rate will be 8.90 percent. At the same time, housing loans of less than Rs 30 lakh and less than Rs 75 lakh will be available at 9.10 percent interest rate. For women, this rate will be 9.05 percent. For men now housing loans up to Rs 30 lakh will be available at an interest rate of 8.95%.
From April 1, the RBI will fix the interest rate according to the repo rate, individuals will have to pay an EMI accordingly. Banks will reduce your EMIs as RBI rates drop. This will bring transparency in the way the RBI will meet the benefits of reduction in policy rates.
Explain that despite the reduction of the repo rate by the RBI, the banks were not able to deduct interest rates in the expected manner, citing their expensive funds. However, from April 1, 2019, they have to adhere to the externational benchmarking system. With this, the interest rate reduction or increase of interest by RBI will be available to borrowers soon.

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