Indices recover from day's low to end flat, PSU Bank stocks gain over 1.5%

All that happened in the markets today.

8:37 AM

RBI bars banks from issuing LoUs after Nirav Modi, Choksi fraud at PNB

 

The Reserve Bank of India (RBI) on Tuesday discontinued issuance of letters of undertaking (LoUs) and letters of comfort (LoCs) for importers with immediate effect, in an attempt to prevent fraud such as the one allegedly carried out by jewellers Nirav Modi and Mehul Choksi.

 

Letters of credit (LCs) and guarantees will continue to be issued like before if they meet certain criteria. READ MORE

8:34 AM

US crude falls 1% on concerns over rising output

 

Oil prices stabilised early on Wednesday after posting two days of falls at the start of the week. US West Texas Intermediate crude futures were at $60.86 a barrel, up 15 cents, or 0.25 per cent, from their previous close. Brent crude futures were at $64.70 per barrel, up 6 cents, or 0.1 per cent.

8:28 AM

Markets on Tuesday

S&P BSE Sensex	33,856.78		-0.18%
Nifty 50	10,426.85		0.05%
S&P BSE 200	4,543.78		0.28%
Nifty 500	9,157.90		0.40%
S&P BSE Mid-Cap	16,269.25		1.00%
S&P BSE Small-Cap	17,602.36		1.14%

8:25 AM

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 35 points or 0.34 per cent. The Nifty futures were trading around 10,394-level on the Singaporean Exchange.

8:22 AM

Asian shares slip on US protectionism fears

 

Asian shares eased on Wednesday amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and eyes hefty tariffs on Chinese imports.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, retreating from a 1-1/2 month high hit on Tuesday.

 

Australian shares stumbled 0.8 per cent in early trade, while Japan's Nikkei dropped 0.8 per cent. South Korea's Kospi index declined 0.7 per cent.

8:20 AM

Wall Street slides on Tillerson exit, tariff worries

 

Wall Street’s major indexes fell on Tuesday as the dismissal of US Secretary of State Rex Tillerson and the possibility of additional U.S. import tariffs against China dragged down stocks across sectors.

 

The Dow Jones Industrial Average fell 171.58 points, or 0.68 per cent, to 25,007.03, the S&P 500 lost 17.71 points, or 0.64 per cent, to 2,765.31 and the Nasdaq Composite dropped 77.31 points, or 1.02 per cent, to 7,511.01.

8:19 AM

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