The market continues to surge ahead with support from banks. The Sensex is up 392.48 points or 1.6 percent at 24171.83, and the Nifty is up 131.35 points or 1.8 percent at 7353.65. About 1823 shares have advanced, 337 shares declined, and 80 shares are unchanged.
It is a relief rally for PSU banks as RBI has provided on capitalisation, approved revaluation reserves (land / property) to be counted as common equity tier 1 capital for banks.
SBI management has said that it should get upward of 100 basis points of capital. SBI is up 9 percent, while BHEL, Hindalco, Adani Ports and Hero MotoCorp are top gainers in the Sensex. Among losers are M&M, ITC, Coal India, Wipro and TCS.
Gold prices fell Rs 91 to Rs 29,135 per 10 grams in futures trade today as participants trimmed their positions, largely in line with a weak trend overseas. Analysts said there is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for a safe-haven assets, which weighed on the precious metal in futures trade.
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SBI management has said that it should get upward of 100 basis points of capital. SBI is up 9 percent, while BHEL, Hindalco, Adani Ports and Hero MotoCorp are top gainers in the Sensex. Among losers are M&M, ITC, Coal India, Wipro and TCS.
Gold prices fell Rs 91 to Rs 29,135 per 10 grams in futures trade today as participants trimmed their positions, largely in line with a weak trend overseas. Analysts said there is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for a safe-haven assets, which weighed on the precious metal in futures trade.
For More Detail Visit -- http://www.monetarysolution.in/
Or Call on - 8818884090, 8223888886
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