Gold Silver Reports (GSR) – Axis Bank Posts First Ever Loss As Bad Loans Pile Up — The private lender reported a net loss of Rs 2,188.7 crore in the January-March quarter compared with a profit of Rs 1,225 crore a year ago, according to its exchange filing. Analysts tracked by Bloomberg had estimated a Rs 663 crore profit. The bank also reported tax write-back of Rs 1,300 crore, without which the net loss would have been wider.
Money Market
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Money Market Update April 26, 2018
Gold Silver Reports (GSR) – Money Market Update – The rupee is seen opening steady at around its weakest in nearly 14 months at 66.8950 per dollar, pressurised by foreign fund outflows and rising oil prices. ANZ, Standard Chartered and Maybank are among a spate of foreign bank and brokerages that have lowered their forecasts for the rupee amid worries about a widening current account deficit.
Stocks To Watch: Wipro, Kitex, Future Retail, Emami
Gold Silver Reports (GSR) – The S&P BSE Sensex fell 0.3 percent or 115.37 points to 34,501.27 and the NSE Nifty 50 index declined 0.4 percent or 43.80 points to 10,570.55. India’s benchmark indices snapped their two-day winning streak dragged down by bank and metal stocks amid the weakening rupee which fell to a fresh 13-month low.
Jute Product Makers Surge As Government Raises MSP
Gold Silver Reports (GSR) – Jute Product Makers Surge As Government Raises MSP – Shares of the jute product makers surged after the government raised minimum support prices for raw jute to Rs 3,700 per 100 kgs.
✅ Ludlow Jute & Specialties rose as much as 18.39 percent to Rs 103
✅ Cheviot rose as much as 5.68 percent to Rs 1,610
DCM Shriram Falls After Profit; Zensar Technologies Hits Record As Board Approves Stock Split
Gold Silver Reports (GSR) – DCM Shriram Falls After Profit Declines In March Quarter – Shares of the Delhi-based packaged food and fertiliser maker fell as much as 15 percent, the most in 17 months, to Rs 373.35 after its profit in March quarter declined 67 percent.
Gains In RIL, Bharti Airtel Cap Losses For Sensex, Nifty
Gold Silver Reports (GSR) – Gains In RIL, Bharti Airtel Cap Losses For Sensex, Nifty – Indian equity benchmarks edged lower dragged by HDFC Bank, Kotak Mahindra Bank and HDFC. However, the losses were capped as index heavyweight Reliance Industries, Bharti Airtel and Wipro saw buying interest. The S&P BSE Sensex fell 0.1 percent or 30 points to 34,585 and the NSE Nifty 50 index declined 0.13 percent or 14 points to 10,600.
Rise In U.S. Real Rates Could Dent Flows To EMs: Priya Mishra On Rising U.S. Bond Yield; Rupee Opens Higher Against U.S. Dollar
Gold Silver Reports (GSR) – Rise In U.S. Real Rates Could Dent Flows To EMs: Priya Mishra On Rising U.S. Bond Yield, In an exclusive conversation, Priya Misra of TD Securities said continued rise in U.S. real rates could dent flows to emerging markets.
✅ Rise in real rates responsible for rising yields
✅ Rising deficit putting pressure on rates in U.S.
✅ Treasury supplies to double in 2019
✅ Rise in real rates to hurt U.S. economy
✅ Spread between U.S. and German bonds to compress