We had mentioned in Friday’s closing report that Nifty, Sensex will move higher.
The major indices ended with major gains today. On the NSE, there were 1,197 advances, 622 declines and 366 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
With British travel giant Thomas Cook going belly up, India's inbound travel could be severely hit and hence adverse impact on foreign exchange (forex) earning too in the months to come. The collapse of Thomas Cook will be a "big, big blow" to the tourism industry in Goa, president of the Travel and Tourism Association of Goa Savio Messias said on Monday. Travel industry sources said that Thomas Cook sends a lot of high-spending tourists to India from countries such as UK, Germany and France. Countries like UK, Germany and Italy where Thomas Cook has good presence are the key source markets for India.
State Bank of India, the country’s largest lender, has decided to adopt RBIs repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans from October 1. The SBI said it has voluntarily extended the external benchmark based lending to Medium Enterprises also, to boost lending to the MSME sector as a whole. The SBI had introduced repo-linked floating rate home loans from July 1. It said a few modifications have been made in the scheme effective October 1 to comply with the latest regulatory guidelines.
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned five pumping units of the 7x139 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package 8, in Telangana. Significantly, the pump for each unit is designed to lift 89.14 cumecs (cubic metres per second) of water by 120.98 metres. The greenfield lift irrigation project is located in Karimnagar district of Telangana. In the project, water shall be lifted from Ragampet Village near Kakatiya canal to feed Mid Manair reservoir and will be used for irrigation and water supply in nearby areas, thereby contributing to the overall development of the area and the state of Telangana.
The investment committee of Canara Bank has permitted to initiate the process of stake sale in full in M/s Commonwealth Trust (India) Ltd and invites expression of interest for sale of 37,500 Equity shares, representing 30% of paid-up share capital held by Canara Bank in M/s Commonwealth Trust (India) Ltd.
Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys announced the successful completion of a global blockchain trial in partnership with R3. The trial was completed in under 5 weeks.
Eighteen banking groups joined the test network of Finacle Trade Connect - a blockchain based trade finance application, available on R3's Corda platform. By creating a distributed, global business network of nodes running Finacle Trade Connect, the trial simulated real-world trade finance transactions. Finacle Trade Connect was launched in 2017 and is currently powering a trade network comprising of over 250 corporates.
ICICI Bank will expand its retail network by adding 450 new branches this financial year. Of these, the bank has made 320 branches operational for customers and in the process, it has crossed the milestone of having 5,000 branches, ICICI Bank said in a statement.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: