Elite Investment Advisory

2 March, Sensex trades above 29,100 mark, Nifty at 8,987

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Business chart with glowing arrows and world map

Indian share markets have opened on Thursday on a positive note tracking positive leads from Asian markets. At 10.20 am, the BSE Sensex is trading higher by 130.60 points at 29,115.09 while the NSE Nifty is trading higher by 41.25 points at 8,987.05. The BSE Mid Cap index was up by 0.57% and BSE Small Cap index was up by 0.55%. The broad market depicted strength. About 1,118 shares rose, 454 shares fell and a total of 58 shares were unchanged.

ICICI Bank, Wipro, Bajaj Auto Tata Motors, GAIL, Hindalco and Tata Motors were early gainers while Dr Reddy’s Labs and Coal India were under pressure.
Overseas, Asian stocks were trading higher. U.S equities surged to all-time highs yesterday, with major indices posting their best day of the year, on the back of Trump’s speech to Congress.

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SEBI TO ENLIST RESOURCE PERSONS TO SPREAD FINANCIAL LITERACY

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Markets regulator SEBI will empanel financial education resource persons on part-time basis for different districts in Haryana, U.P, Punjab, Jammu &Kashmir, Himachal Pradesh and Uttarakhand with a view to help spread financial literacy, said SEBI in a notice. SEBI has invited applications from interested candidates by February 28.

Serving or retired teachers, professionals, bank and government officials as well as defence persons can apply for the opportunity. The candidates should have at least a graduate degree and minimum three years working experience, SEBI added.

SEBI would empanel individuals for seven districts in Himachal Pradesh, viz. Kinnaur, Lahaul-Spiti, Sirmour, Solan, Una, Kangra and Chamba, and five districts in Haryana, including Fatehabad and Faridabad.

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RBI keep’ Repo rate Unchanged at 6.25%

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The RBI Sixth bimonthly monetary policy review kept its repo rate unchanged at 6.25% in the meeting held today, opting to wait for more clarity on inflation trends and on how a drastic crackdown on black money after demonetization, is impacting economic growth.

Marginal Standing Facility and Bank rate kept unchanged at 6.75%. The Fiscal 2017 GVA (Gross Value Added) seen at 6.9% and the Financial year 2018-GVA seen at 7.4% with rick evenly balanced, while Consumer Price Index (CPI) seen below 5%. Repo rate is the rate at which the central bank of a country provide loadn to commercial banks in case of any shortfall of funds.

Meantime, Sensex is trading at 28228 down by 207 points or 0.38%. Nifty is trading at 8745 down by 23.45 points or 0.27% at 3.00 pm today.