Author Archives: nimishshah

All SBI loans are expensive


Mumbai: Country’s largest public sector bank State Bank of India (SBI) has increased its marginal cost-based lending rate (MCLR) rate. SBI has increased its MCLR by about 0.05 percent for all the period. In this order, all types of loan including SBI’s home loan, auto loan have become expensive. Let us know that earlier HDFC Bank had also made all kinds of loans expensive.
Thus increasing the bank’s overnight and one-month Msielar 8.15 percent went to 8.20 percent Huh.Yes have went to for a period of three months to 8.25 per cent from Msielar 8.20 percent. Similarly, the 6-month MCLR has increased from 8.45 percent to 8.40 percent. For two years and three years, MCLR has now become 8.65 per cent and 8.75 per cent respectively. It is clear that all loans, including auto loans, personal loans and home loans, will now become expensive. This increase in debt has come into effect from December 10.
The Bank has in addition to Msielar rate benchmark prime lending (BPLR) also has 13.75 per cent 13.80 per cent per annum, while the base rate by 9.05 per cent to 9 per cent. This increase has come into effect from December 10, 2018.

Senior citizens get tax in gift

stock market news

Mumbai-Income Tax Department has given a big gift to senior citizens. The Central Board of Direct Taxes (CBDT) has said that tax on income less than 50 thousand rupees from interest to senior citizens can not be taxed. The Board has said that according to section 194A of Income Tax Act, senior citizens will have to pay tax on income of more than 50 thousand rupees.
According to section 80TTB, a provision of 50 thousand rupees for the citizens above 60 years of age has been provided for 1 April 2018. The Finance Minister had said in his Budget speech this year that the deduction limit for health insurance premium or medical expenditure under Section 80D has been increased from Rs. 30 thousand to 50 thousand rupees.
Now all senior citizens will be able to claim the benefit of deduction of 50 thousand rupees per annum in terms of health insurance premium or any medical treatment. In the case of Senior Citizens 60 thousand Proposed one lakh rupees for all senior citizens by raising from Rs. 80 thousand to Rs. . With these concessions senior citizens will get an additional tax benefit of 4 thousand crore rupees.

Sensex closes 713 points down

Sensex ends down

Mumbai: The weakness in global markets and negative signals of exit poll have started the week with a sharp decline in the market. Sensex slumped more than 700 points on Monday and broke the crucial level of 35000. While the Nifty has also closed 200 points and closed below 10500. Bank Nifty also suffered a loss of around 500 points. All Sector Indices of BSE are also closed today in the red mark.

At the end of the turnover, BSE’s 30-share index Sensex closed at 34,959.72 with 713.53 points, which is 2 per cent weakness. On the other hand, NSE’s 50-share index Nifty closed at 205.25 points i.e. 1.9 per cent, at 10,488.45 level. The biggest drop in the business was seen in Kotak Mahindra Bank, Ultratech Cement, Indiabulls Housing and Bajaj Finance. At the same time, IOC, BPCL, HPCL and Maruti saw the highest increase.

In the mid-and smallcap stocks, there has been a huge decline as well as with giant stocks. The BSE Mid-Cap Index has closed 1.84 per cent down at 14446.47 levels. Smallcap index, however, closed 1.8 per cent down at 13845.70. Oil and gas shares also remained under pressure, with BSE’s oil and gas index closing down at a level of 12872.44, with a 0.7 per cent weakness.

Show all-round sales pressure in the market Bank Nifty closed 1.8 per cent down at 26,102.65 due to heavy selling in banking stocks. Pharma, IT, FMCG and auto stocks were among the worst weaknesses. Nifty’s pharma index fell 1.7 percent, IT index 1.6 percent, FMCG index 1.5 percent and auto index closed nearly 1 percent.

Higher Delivery Quantity (05/12/2018)

INOXWIND 2419154 33672 80.85
GAYAPROJ 102431 6557 170.90
IFBIND 22140 1956 830.35
STARCEMENT 04620 10683 100.50
GMDCLTD 374180 60035 86
CUB 2746064 462919 176.30
HATSUN 12407 2345 623.30
NAVKARCORP 173791 40188 55.85
DEN 131489 40104 69.20

Closing with the Sensex decline

Sensex ends down

Mumbai- The pressure of the sell-out in the market was clearly visible. The Sensex has closed down by 100 points. The Nifty has also closed close to 10870 with a slight weakness that means it is almost flat closed. On the other hand, before the RBI’s credit policy, there was a trend of weakness in the bank nifty.

Bank Nifty closed with a weakness of 150 points. The midcap index is also 0.25 percent broken. At the same time, the smallcap index closed with a modest gain of 0.08 percent. Due to the weakness in the market, bluechip stocks declined. Most heavy shares, including Reliance Industries (RIL), Hindustan Unilever, ITC, HDFC Bank and SBI, declined between 0.5% and 2%. Stock market red marks were closed by selling in all sectors except IT (IT).
In the top-end stocks, BPCL was the biggest climbing stock with a gain of 3% in the Nifty 50. Indiabulls Housing Finance recorded a gain of 2.64 per cent. Apart from this, there is an increase of 2 to 2.50% in UPL, ONGC and Infosys.

On the other hand, Sun Pharma was the top stock in the fall for the second consecutive day, with 2.74 per cent weakness. In addition, Mahindra & Mahindra saw 2.73 per cent, Grasim Industries at 2.18 per cent, HDFC 2.09 per cent and SBI 1.50 per cent. Between the trend of decline, good stocks were seen in the IT sector stocks. Wipro was 1.89 percent, Infosys 1.89 percent, HCL Tech at 1.85 percent, Tech Mahindra 1.45 percent and TCS 1.38 percent.