Three of India's leading state-run lenders reported a drop in their first quarter net profits, weighed down by rise in provision for bad loans.» Read More
MUMBAI, Oct 8- India's main stock index fell for a second straight session on Monday, marking its biggest daily fall since July 27, as profit-taking, coupled with business outlook concerns, hit recent outperformers such as Reliance Industries.
*Shares in Indian banks hit by heavy profit-taking after recent fiscal and economic reforms had sparking a rally in the sector by raising the raised the prospect of potential RBI rate cuts.
India's main BSE index fell 1 percent while the 50- share NSE index was also down 1.07 percent on profit-booking after the BSE index rose to 17- month high on Friday, while the NSE hit its highest in nearly 18 months. India's benchmark 10- year bond yield. India's benchmark 5- year down 2 bps at 6.98 while the 1- year rate also fell 2 bps to 7.58 percent.
India's main BSE index fell 0.2 percent, the 50- share NSE index was also down 0.3 percent. India's benchmark 10- year bond yield. India's benchmark 5- year down 1 bp at 6.99 while the one-year rate up 1 bp at 7.61 percent.
MUMBAI, Oct 5- Indian shares fell on Friday, snapping a four-day rise, as profit-taking hit recent out-performers such as ICICI Bank, while sentiment was also hit after dozens of erroneous orders by a financial firm triggered a brief halt in the NSE index. The National Stock Exchange index.
MUMBAI, Oct 5- Indian banks would reduce their interest rates if the Reserve Bank of India cuts its key lending rate at its mid-term policy review on Oct. 30, the chief of an Indian banks' body assured the central bank governor on Friday.
MUMBAI, Oct 5- Indian shares fell on Friday, snapping a four-day rise, as profit-taking hit recent outperformers such as ICICI Bank, while investor sentiment was also hit after dozens of erroneous orders triggered a brief halt in the NSE index.
By Manoj Kumar and Frank Jack Daniel. NEW DELHI, Oct 4- India's cabinet approved bills on Thursday to attract foreign investment into insurance and pensions among a package of new measures to restore confidence in the economy, although the reforms will face a tough fight in parliament.
NEW DELHI, Oct 4- India's cabinet approved bills on Thursday to attract foreign investment into insurance and pensions in the latest move by Prime Minister Manmohan Singh to restore confidence in the economy, but the reforms will face a tough fight in parliament.
MUMBAI, Oct 4- India's main BSE index rose to a 15- month peak on Thursday, while the NSE index hit a 17- month high, after the government's reform proposals for the insurance and pension sectors sparked gains in financial stocks such as ICICI Bank.
MUMBAI, Oct 4- India's main BSE index rose to a 15- month high, while the NSE index hit 17- month highs, after the government's reform proposals for the insurance and pension sectors sparked gains in financial stocks such as State Bank of India and ICICI Bank. State Bank of India gained 2.2 percent, while ICICI Bank rose 3.1 percent.
MUMBAI, Oct 4- India's 50- share NSE index rose above 5,800 points on Thursday, joining the BSE index in breaching key psychological levels, after continued government reform measures sparked hopes for continued action. Banks led gainers, with ICICI Bank up 3.6 percent.
gains 1 percent to above 19,000 points for the first time since July 8, 2011 on hopes for additional fiscal and economic reforms. adds 2.5 percent having earlier hit a record high at 953.90 rupees. *Blue chip lead gains: ICICI Bank rises 2.6 percent, Reliance Industries gains 1.1 percent.
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Indian stocks have been sliding since the New Year amid inflation fears but there are still places where investors can get in, said Ron Shah, managing partner at Jina Ventures.
With President Obama visiting the Subcontinent, Ron Shah of Jina Ventures recommends playing these Indian companies in the long-term.
India's stock market has jumped almost 19% over the past year, far outpacing the Dow Jones Industrial Average, and it may not be done yet....A report from TheStreet.