Sensex zooms 255 points as Fed status quo fuels rate cut hopes

Market benchmark Sensex on Friday rallied by 255 points while the NSE Nifty hit the 8,000-level led by gains in realty and baking stocks on hopes that the US Federal Reserve maintaining status quo would give RBI some headroom to loosen key lending rates. 

Rupee, which rebounded by close to 80 paise during the day also boosted sentiment. 

The Fed on Thursday had postponed its decision to increase the rates till the end of the year. "This is a sigh of relief in the interim for emerging markets like India," said Hitesh Agrawal, Head Research at Reliance Securities Stock Market Trading Tips

Consequently, rate sensitive counters like realty, banks along with healthcare and oil&gas saw good buying interest. 

Brokers say the Fed's move and domestic disinflationary pressures provide a good opportunity to the RBI to provide support to India's subdued economic growth with a rate cut. 

The 30-share barometre started off on a strong footing and reclaimed the crucial 26,000-mark to hit the day's high of 26,471.82 on intensified buying Financial Astrology Trading Tips 

But profit-booking at higher levels and a lower opening at European markets contained initial gains, with the index slipping to a low of 26,130.36 before ending higher 254.94 points or 0.98 per cent at 26,218.91 - its highest closing since August 31. 

The NSE Nifty after breaching the 8,000-mark hit a high of 8,055.00, the highest since August 28, but succumbed to profit-booking and surrendered part of gains to close the session at 7,981.90 up 82.75 points or 1.05 per cent. 

On a weekly basis, the Sensex rallied 608.70 points or 2.37 per cent, while the Nifty zoomed 192.60 points or 2.47 per cent, posting gains for the second straight week. 

Axis Bank emerged as the top gainer in the banking space, up 4.70 per cent, followed by SBI, HDFC Bank and ICICI Bank Indian stock market astrology prediction

Globally, other Asian markets ended mixed with Shanghai Composite ending 0.38 per cent higher as Hong Kong's Hang Seng rose 0.30 per cent and Japan's Nikkei shed 1.96 per cent. 

"Globally, investor sentiment is still cautious as the Fed is still going to hike rates after all, and growth in emerging markets remain subdued," said Vijay Singhania Founder Director of Trade Smart Online. 

European markets were lower in their early trade as the Federal Reserve's decision to hold off raising interest rates stoked concerns about global growth Commodity Market Astrology Tips

Future belongs to innovative entrepreneurs: Jitendra Singh

Ability to innovate and experiment irrespective of distinctions of gender or religion is going to be the yardstick for entrepreneurship in a world that is undergoing a paradigm shift, Union Minister Jitendra Singh has said. 

"Tomorrow belongs to innovative entrepreneurs regardless of age, sex, religion or even country as we have a global market now. One does not need to be confined to India or to Pakistan for that matter," Singh said Stock Market Trading Tips

Singh, the Minister of State in the Prime Minister's Office, was speaking after inaugurating the Flo-SCWEC exhibition and conferences on Best Practices in Intra-Regional Business amongSAARC countries. 

The event has been organised by the Ficci ladies' organisation in collaboration with SAARC Chamber Women Entrepreneurs Council (SCWEC). 

"It's going to be a play of ideas and there will be no gender differences. The globalisation which is happening everywhere is a phenomenon that occurs regardless of other situations," Singh said Himanshu Tiwari Astrologer Blog 

The event was attended by delegates from all the other SAARC members - Bhutan, Nepal, Pakistan, Sri Lanka, the Maldives, Afghanistan and Bangladesh. 

Shaida Mohammad Abdali, the Afghan Ambassador to India, and Shaista Pervaiz Malik, parliamentarian from Pakistan and the SCWEC Chairperson, were present at the event. 

"I am a firm believer that women are leaders by their very nature. We should focus on areas like closing the gender gap in business in South Asia and increasing female entrepreneurship and partnership," Malik said, adding that "women should reach boardrooms Indian stock market astrology prediction

More reforms in pipeline, no investment proposals held up: Arun Jaitley

Promising to make India an attractive investment destination and a better place to do business, Finance MinisterArun Jaitley said on Friday that changes to arbitration laws and several other legislations are in the pipeline while the bankruptcy code is ready to push ahead the reforms process. 

Inviting global investors, he said India is no more a nation suffering from policy paralysis and uncertain tax regime and assured them of continuing the reforms for development of the investment-friendly environment Stock Market Trading Tips

"The bankruptcy code is ready and changes to arbitration laws and several other legislations are in the pipeline... For the next few years, we have our agenda full, reforms are an ongoing process," Jaitley said. 

The finance minister was speaking at a 'dialogue session' with nearly 300 Singapore-based business leaders and investors including representatives of global entities from Europe and America on the first leg of his four-day visit to Singapore and Hong Kong. 

In an apparent reference to the lack of numbers in Rajya Sabha where the government is not able to push major bills, he said the legislations which could be taken in the form of Money Bill would be pursued Himanshu Tiwari Astrologer Blog

He, however, regretted that the key indirect taxation reform bill - Goods and Services Tax (GST) - could not be pushed through in the last session of Parliament. 

"Investors world over have been quite appreciative of what is happening in India, so they have great hopes of India being an important player in the world economy today," Jaitley told reporters after the session. 

"This is particularly because, notwithstanding the slowdown world over, Indian economy is able to maintain a fairly rapid pace. Therefore, the idea is that the economy should continue to grow, and for growth you need investment," he added Indian stock market astrology prediction

Jaitley said a lot of public investment is taking place in India and the government is trying to ensure that private investment, including from abroad, also goes up to support economic growth. 

He said that investors from the world over have been quite appreciative of what is happening in India and "they have great hopes of India being an important player in the world economy today".

Over 56,000 Honda motorcycles, scooters sold in a day

 Honda Motorcycle & Scooter India (HMSI) has crossed the 56,000-units sales mark in a single day on Thursday, backed by auspicious buying on Ganesh Chaturthi and Vishwakarma Jayanti. It marks a 40% increase in retail sales in comparison with those last year. 

"Customer demand remained bullish as footfalls soared across all Honda two-wheeler outlets. Honda dealers nationwide worked overtime till late night to meet the overwhelming customer demand for Honda's motorcycles and scooters," the company said in a statement Indian stock market astrology prediction

Elaborating on the sales during Ganesh Chaturthi and Vishwakarma Jayanti, Yadvinder S Guleria, senior vice president - sales & marketing, Honda Motorcycle & Scooter India said: "The 40% increase in sales shows the high customer trust and confidence in brand Honda and has surpassed all our expectations. To further delight our valued customers this festive season, Honda has launched the attractive retail finance scheme on India's No. 1 selling 125cc motorcycle - CB Shine which delight our customers with Rs 7,300 additional saving. Building on this record high start of festive sales, we are confident that customers in India will chose to ride home on a Honda two-wheeler this auspicious season Himanshu Tiwari Astrologer Blog

Through the festive special CB Shine scheme, customers can now avail Honda's World's highest selling motorcycle - CB Shine at an attractive low down payment of Rs 5,999 marking the festive offer. On offer to customers are easy EMIs as low as Rs 999 and attractive low down payment of Rs 5,999. 

HMSI isn't the only one. Car, SUV and two-wheeler makers are readying for the festival season by launching special edition models and kicking off promotional schemes, including discounts and other benefits. The Dussehra -Diwali festive season is the most important sales point for the automobile industry in India. It starts with Onam and ends with Diwali spanning a little over 45 days to cover festivals across India Stock Market Trading Tips

RBI's job is to keep inflation low at all times, says Rajan

Despite the clamour for a rate cut to boost the stagnating economy, Reserve Bank governor Raghuram Rajanhas made it clear that the central bank favours a rate of interest that benefits both borrowers and savers Stock Market Trading Tips
"For the RBI, the key tasks are to keep inflation low not just today but well into the future so that we get moderate nominal interest rates that satisfy not just the vocal borrowers but also the silent savers," Rajan said while delivering the C K Prahalad Lecture in the city on Friday. 

Of late, several corporates leaders and industry chambers have been trying to pressure the central bank in to cutting interest rates. While lower rates benefit corporates who work with borro wed money , they invariably lead to lower deposit rates.And in a low-rate regime, it is often the retired people, with their life's savings in bank and post office deposits, who struggle Himanshu Tiwari Astrologer Blog 
Although there were expectations that the RBI chief may hint at what the central bank is going to decide in the policy meeting later in the month, especially in the light of US Fed's Thursday night decision to hold rates steady at record low levels, Rajan didn't oblige. 

In his speech, Rajan also criticised the 'jugaad' mentality, a purely Indian attitude of 'working around' difficulties by hook or crook. Rajan said he agreed with management guru C K Prahalad, who believed that Indian businesses were capable of scaling world heights. "But there are no easy paths to the top. Jugaad... is a thoroughly Indian way of coping but it is predicated on a difficult or impossible business environment," he said Indian stock market astrology prediction

USFDA warning on Baidyanath supplements

The US Food and Drug Administration has warned consumers against the use of certain dietary supplements manufactured by Shree Baidyanath Ayurved Bhawan, being sold in the US, as they contain high levels of lead andor mercury Stock Market Trading Tips

Testing by the New York Department of Health and USFDA has found that these products contain high levels of lead and or mercury, which can cause serious health problems, says a communication posted on the regulator's website. A company official told TOI that all its products were approved by the Indian FDA. 

The USFDA has recommended that consumers avoid the following products: Baidyanath Agnitundi Bati, Baidyanath Arogyavardhini Bati, Baidyanath Brahmi Bati, Baidyanath Chitrakadi Bati, Baidyanath Gaisantak Bati, Baidyanath Marichyadi Bati, Baidyanath Rajahpravartini Bati, Baidyanath Saptamrit Lauh, Baidyanath Sarivadi Bati and Shankh Bati Financial Asttrology Trading Tips 

"All Baidyanath products are approved by Indian FDA and conform to standards set by Indian pharmacopeia.The products contain ayurvedic metallic preparations duly manufactured in accordance with the procedures laid out in the ayurvedic texts by virtue of which they are rendered purified, non-toxic and endowed with medicinal properties. In this context, the Ayush ministry has clarified the matter to US FDA," a company official told TOI Commodity Market Astrology Tips

Won't influence RBI for low rates: FM

Pitching for an in terest rate cut to boost growth, finance minister Arun Jaitley on Friday said everyone including policy planners wants lower rates, but emphasized he would not like to influence RBI's decision on the issue Stock Market Trading Tips 

Asked if the status quo by US Federal Reserve could prompt RBI to cut interest rate, Jaitley said, "RBI is managed very professionally, they look at all the figures and developments, both internal and external environment, and take their own decision." 

RBI is scheduled to come out with its fourth bi-monthly policy review for the fiscal on September 29 and with uncertainty getting over with regard to the US Fed rate, the central bank may yield to the pressure of easing rates Himanshu Tiwari Astrologer Blog

"Any policy planner would like a cheaper cost of capital, but that's not a decision which I would like even to influence at this stage because it's a decision which RBI has to take," Jaitley told TV channels. RBI governor Raghuram Rajan had earlier said the central bank will be closely watching the decision of the US Federal Reserve. 

Meanwhile, describing the decision of the US Fed to maintain status quo a 'nonevent', NITI Aayog vice-chairman Arvind Panagariya expressed the hope that the RBI will cut interest rate by 0.5%. Earlier in the day, minister of state for finance Jayant Sinha said in New Delhi that there is a "favourable" environment for monetary policy action by RBI Indian stock market astrology prediction

Sensex up 255 points, rupee sees biggest 2 year gain of 79p

The US Federal Reserve's decision to not raise interest rates in the world's largest economy, mainly due to the fragile global macroeconomic conditions, led to a rally on Dalal Street on Friday with the sensex closing 255 points up at 26,219. Along with equities, rupee, bond and gold also rallied as the dollar weakened Stock Market Trading Tips

The domestic sentiment was also helped by strong Asian markets, although the US indices closed flat after the Fed decision on Thursday night. Marketmen here feel that US Fedchief Janet Yellen's decision to keep rates unchanged was prompted by global concerns. "Fed's stance is pro-growth. It has kept rates unchanged due to global concerns even though US employment is inching up. They are expecting that inflationary pressure will remain under check despite low rates," said Nilesh Shah, MD, Kotak Mutual Fund. 

The US rate decision also makes for a strong case for the RBI to cut rates in its policy meeting on September 29. Some economists even expect a rate cut in India before the policy meet, mainly to boost the economy which is again showing signs of stagnation. According to Soumya Kanti Ghosh, chief economic adviser, SBI, now that Fed is again holding rates, "RBI will get more room for an accommodative monetary policy stance" in its next policy review meeting Jackpot Stocks Trading Tips

Economists are also expecting that a rate hike in the US may come only in 2016 and not even in its December policy meeting. According to Ghosh, US Fed has assigned more uncertainty emanating from global economy, without pointing out to any specific country. "Although the world may like to believe it is mainly because of economic turmoil in China, but the current recession in Canada, the biggest trading partner for the US, is also posing a big challenge to the world's largest economy," he said. 

The US Fed's decision also led to a short rally in the bond market with the benchmark 10-year gilt yields softening 6 basis points (100 basis points = 1 percentage point) to close at 7.70% on Friday. As a result, rate-sensitive stocks gained in the stock market with Axis Bank, ICICI Bank, M&M, SBI and HDFC Bank among the top advancers. A lower rate usually boosts business for companies involved in banking, financial services, auto and capital goods Commodity Market Astrology Tips 

The market rally also saw FIIs turning big buyers after mostly remaining net sellers of Indian stocks for several weeks. This, in turn, boosted the rupee which strengthened 79 paise to close at 65.67 to a dollar — its biggest single-session gain in two years and also its highest close in nearly a month. 

Following the global trend, in Mumbai's bullion market gold prices too shot up by Rs 300 per 10 grams to Rs 26,500 in late trades. Globally, since gold is priced in dollars, the price of the yellow metal moves inversely with the greenback's price against other major currencies Financial Astrology

Fed holding rates will give time to adjust policies: Govt

The government has said that the decision of the US Federal Reserve to hold interest rates provides time to emerging countries to adjust their policies and strengthen their economies. 

Offcials said the environment was favourable for monetary policy action but it was up to the Reserve Bank of India to take a decision, keeping all the factors in mind Stock Market Trading Tips

"...In India we were in any case prepared for all eventualities and government will continue to take various reform measures...so policy action will continue to further stabilise the economy," economic affairs secretary Shaktikanata Das said. 

He said the US Fed seemed concerned about getting certain about job revival figures. "The unemployment figures are down to pre-2008 level but it appears that the US Fed would want to be more certain about the job figures. Once the US economy revives, it's good for Indian software exporters," Das said. 

He said the Indian economy is expected to grow over 7.5% in the current financial year. "Our economy continues to be strong and government will continue to take various measures. Our fundamentals are strong. Our economy is stable.""Investment, demand revival and job creation are government priorities Himanshu Tiwari Astrologer Blog

Measures will continue. We were prepared for a modest increase in rates by US Fed. No ripples for the present. We will continue to focus on our stability," Das tweeted after the Fed announcement. 

Policymakers have said that the Indian economy is better prepared to meet any impact of a possible interest rate hike by the US and have cited the improving fundamentals of the economy, such as sliding inflation, robust foreign exchange reserves and better data across sectors. 

Finance minister Arun Jaitley, who is in Singapore to meet investors, said the government has undertaken various reforms in different sectors, including taxation, labour, land and skill development and power sector, among others. He added that the government has taken various initiatives to revive the stalled projects especially in the infrastructure sector. 

Jaitley said there is an urgent need to step-up the growth as India has a potential to achieve double-digit growth. He said the government has taken various steps to utilise the savings from low crude oil prices to make additional investment in the infrastructure sector, especially highways, railways and irrigation Commodity Market Astrology Tips

Honda recalls 2L cars to fix airbags

Japanese car major Honda has recalled over two lakh cars — comprising CR-V SUV , City and Civic sedans and the Jazz hatchback — to fix problems with airbags. This is the biggest car recall in India. The models were manufactured between 2003 and 2012 Stock Market Trading Tips 

The company will recall 2,23,578 cars to replace airbag inflators. The defective airbag inflators were supplied by tainted Japanese supplier Takata. Honda and other Japanese car makers like Toyota and Nissan had to recall lakhs of cars across the world due to defective airbags supplied by Takata. 

The replacement would be carried out free-of-cost at Honda dealerships across India in a phased manner, starting from October 12, the company said. Honda's recall is the largest such exercise in size in the country and beats the 1.66 lakh units that Ford had recalled in India in 2013 to fix problems with some of its mo dels. The exercise will cover 13,073 units of the CR-V manufactured between 2004-11, 54,290 units of Civic produced between 2003-2012, 1,40,508 units of the City made between 2007 and 2012, and 15,707 units of Jazz manufactured between 2009 and 2011 Indian stock market astrology prediction

Problems with Takata airbags have sparked off a massive recall crisis across countries, with a big portion of the recall happening in the US. Some Takata air bags have opened with too much force, sending shrapnel into vehicles.

For startups, India is most competitive, says Nandan Nilekani

Infosys co-founder and former UIDAI chief Nandan Nilekani has become closely involved with the Indian startup ecosystem over the past one year. He has advised mobile ad network InMobi, invested in space startup Team Indus, and very recently backed prepaid mobile tracker Mubble. 

In an interview to TOI, Nilekani talks about how startups are innovating for the Indian market Himanshu Tiwari Astrologer Blog

There's a lot of talk about a valuation bubble in the startup space. Do you think a bust is imminent?

I'm no expert on market timing. But I think India is the most hyper competitive internet market in the world. In the US, you don't have Chinese companies — WeChat and Alibaba may be huge in China, but they don't exist in America. Conversely, the American companies are not there in China. India is the only country in the world where the American, Chinese and home-grown companies are competing. Suddenly, there are three levels of competition. You have Amazon competing in e-commerce, companies like Alibaba and Softbank investing in Paytm and Snapdeal, and you have a home-grown company like Flipkart. There will be winners and losers in any hyper competitive market. The good news is the sector will be transformed and customers will benefit. 

You have been talking about a WhatsApp-like movement in the Indian financial sector. Can you elaborate? 

We are at a stage in the financial sector where the telecom sector was when WhatsApp was launched in 2009. WhatsApp was not launched by the big telecom companies like AT&T or Verizon. It was launched by a startup. We have a similar situation in the banking sector today where there is a massive disruption happening — tech, government and regulatory disruption with payments banks, and unified payment interface (designed to enable account holders to send and receive money from their smartphones with a single identifier — like Aadhaar number or mobile number — without entering any bank account information). Incumbents like the large banks, as also startups and mobile companies which are getting payments bank licences, can take advantage of it. It's an open environment. And any which way, the customer will get superior products and services  Indian stock market astrology prediction

Do you feel Indian startups are simply copying Western innovations? And if so, are these sustainable models? 

I think everybody is doing things keeping the Indian condition in mind. A lot of them have to do with the weaknesses in our system. If you look at the great innovation of the mobile industry, it is the prepaid model. The telecom players realized that millions of Indians don't have the ID systems required for postpaid, and that many want to control their spends. Today, 95% of phones in India is prepaid. Similarly, in e-commerce, companies came up with cash-on-delivery. It's an Indian innovation and it's come to a point that Uber is also offering it. I think those who adjust their business model to Indian conditions and come up with brand new models adjusted to Indian conditions, are going to succeed. 

There are a few poster boys in the startup space — Flipkart's Bansals, Ola's Bhavish Aggarwal, InMobi's Naveen Tewari. Any favourites? 

I'm a big admirer of these guys. I like Naveen Tewari and Abhay (of InMobi). They are very strategic in the way they approach the global markets. Paytm's Vijay Shekhar Sharma wants to be a large player in payments, Sachin is my neighbour in Koramangala... doing a great job in retail. Bhavish is from my college and he is half my age, but he's doing a great job with Ola. All these guys are impressive and I wish them all the best Share Market Astrology

Startups are debating whether to go app-only. What do you make of it? 

The number of internet connections through broadband is static and the number of mobile internet is going up at the rate 20 million per quarter. So all the growth is coming from smartphones. If you look at Mary Meeker's (partner in Kleiner Perkins) presentation, she says e-commerce in India is the most "mobilized" in the sense that the highest proportion of transactions coming from mobile phones is in India. So maybe it makes sense to maintain just one platform — it reduces the overheads of managing two platforms.

Etihad, partners raise $700m, Jet to get $110m

Etihad Airways and its equity partner airlines have increased the funds raised from their unique platform financing transaction from $500 million to $700 million. Jet Airways, in which Etihad has a 24% stake, will get 16% of this amount or about $110 million. Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Aliltalia and Jet Airways had raised $500 million following roadshows in Abu Dhabi, Dubai and London Stock Market Trading Tips

"After unprecedented increased demand from financial institutions in a range of markets, the airlines reopened the transaction and have raised an additional $200 million, taking the total to $700 million," Etihad said in a statement. 

The funds, which will be split across the seven businesses, will be used for a mixture of capital expenditure and investment in fleet, as well as for refinancing, depending on each airline's individual needs. 

Etihad president and CEO James Hogan said: "Together, we are creating compelling network and product offers for our customers, while cutting costs and sharing a wide range of syner gies... These additional funds will allow this group of airlines to accelerate further the realisation of this vision and these strategies. Individually, each of these partners is building an increasingly strong business. But together, that strength is multiplied. This transaction recognises and endorses that strength Himanshu Tiwari Astrologer Blog

Dabur to take on MNCs in skin care

Just before the start of the festive season, home-grown consumer products maker Dabur is preparing to take on the might of MNCs in the professional skin care and salon market. Dabur, the maker of Fem fairness bleaches, will this month strengthen its presence in the salon market with the launch of a range of new professional facial products under the OxyLife brand. This will also mark the company's foray into the male professional grooming market Himanshu Tiwari Astrologer Blog

People familiar with the development say this is just the beginning and the firm will be rolling out a slew of new professional skin care products for the Rs 2,500 crore domestic salon & spa market with a new launch slated every quarter.These professional facial kits have been created exclusively for parlour channel, a growing market in India that has hitherto been dominated by MNCs and beauticians such as, Shahnaz Hussain Indian stock market astrology prediction

"Women coming to parlours for facials have common problems like uneven and patchy skin, clogged pores, dull complexion and lack of glow which make it appear sapped out of life. We will be launching products such as, OxyLife Salon Professional ProWhite Pure Oxygen Facial for women and men. We have a large dedicated team for professional channel and we plan to utilize their expertise for making this facial range available for parlours & salons," Dabur India marketing head-skin care & salon Minoo Phakey said. Dabur will host special sessions for professionals across the country where reknowned beauty consultants and cosmetologists will train the parlour professionals Commodity Market Astrology Tips

Tata Steel sells Rs 2.5k crore stock in Tata Motors

Tata Steel has sold stocks worth Rs 2,500 crore ($380 million) in sister concern Tata Motors as the alloy producer continues to offload non-core assets to pare its Rs 70,000 crore-plus debt, which is one of the highest among steel companies globally. 

Tata Steel sold nearly half of its 5.5% stake in the owner of Jaguar saloons and sporty Range Rovers through two separate transactions, equally dividing between parent Tata Sons and a group of institutional investors. While on one hand, the deal helped Tata Steel raise funds and partly cut its cross-holding in a group company , on the other, it has enabled Tata Sons to increase its stake in the steel giant by 1.3% to 27.3%. Tata Steel holds stakes in most group companies and its stake in the listed Tata entities is worth over Rs 8,000 crore Stock Market Trading Tips

The latest stake-sale comes five weeks after Tata Steel sold 2.18% in another sister company, Titan Industries, to Tata Sons for Rs 637 crore. Some time ago, it had sold shares of Tata Projects and Tata Industries. Tata Steel's debt has primarily been on account of its $13 billion Corus acquisition in 2007 as the Indian metal giant is still struggling to reap benefits from the deal. The T V Narendran-led Tata Steel said in June that the company raised about Rs 1,000 crore during the first quarter of fiscal 2015 by selling a part of its equity portfolio. 

The fresh fund raise would help the company in lowering its debt by a small percent, said a steel analyst.In fiscal 2015, Tata Steel's interest cost was Rs 4,848 crore, about 12% higher compared to the previous year. 

Steel companies have been going through a challenging phase domestically and globally because of muted demand and falling prices.A weak Chinese economy , the biggest consumer of metals and commodities has added to their troubles Himanshu Tiwari Astrologer Blog

As sugar stocks pile up, Centre asks producers to export 40 lakh tonnes

In its bid to deal with the huge stockpile of sugar in India, which is mainly responsible for its price crashing and the poor health of the industry, the food ministry on Friday set the minimum indicative export quota (MIEQ) for manufacturers to export 40 lakh tonnes during the next sugar season starting next month. 

Millers in Uttar Pradesh have to export 10 lakh tonnes while manufacturers in Maharashtra will need to export 13 lakh tonnes Stock Market Trading Tips

The move comes at a time when India is set to produce surplus sugar for the sixth straight year. According to estimates, 358 lakh tonnes of sugar will be available during 2014-15 while the total domestic consumption is projected at 284 lakh tonnes. In this context the government decision for mandatory export of the sweetener is being seen as a major intervention to reduce the glut in the sector. 

In its notification, the food ministry said, "In view of the inventory levels with the sugar industry and to facilitate achievement of financial liquidity and enable industry to achieve long run viability," the MIEQ has been specified Himanshu Tiwari Astrologer Blog

It added that the quota for each factory has been fixed by taking into account their average sugar production of three years including current and last two sugar seasons. The manufacturers have to submit the details with proof of their export within six months from the date of last shipment. Failure of this norm will be treated as violation of government notification. 

Abinash Verma, director general of the apex body of sugar industry (SIMA), said, "Exports from India continues to remain unviable, for which the industry will look up to the government for help Commodity Market Astrology Tips

Sensex jumps 258 points, closes at 2-week high ahead of Fed meet

The benchmark BSE Sensex today surged by 258 points to 25,963.97 on selective buying in blue-chips like Bharti Airtel, Sun Pharma and Bajaj Auto as investors are betting that the US Fed will not raise interest rates this week in view of Chinese financial crisis. 

All eyes are now on the crucial two-day US Federal Reserve meeting starting today, where the rate-setters are going to take a call on raising the borrowing costs Stock Market Trading Tips

Hiren Dhakan Associate Fund manager of Bonanza Portfolio said, "... markets are betting on the odds of interest rates not being raised this meet as Chinese financial crisis is still having its say on the world economy." 

No fresh weakness in rupee also helped. 

Sentiment remained upbeat as investors are hopeful that the Reserve Bank would cut rate for the fourth time this year at its policy review on September 29 after data showed retail inflation easing to 3.66 per cent in August Himanshu Tiwari Astrologer Blog

After opening in the positive zone, the 30-share Sensex barometer rose further to regain the 26,000-level and hit a high of 26,006.75 in afternoon trade. 

But it failed to sustain momentum due to profit-booking at higher levels and slumped to 25,816.50, before settling higher by 258.04 points or 1 per cent at 25,963.97 -- its highest closing since August 31. 

The gauge had retreated from a two-week high by losing 150.77 points in the previous trading session yesterday. 

Also, the 50-issue NSE Nifty after reclaiming 7,900-level advanced to hit the day's high of 7,913.90, before closing at 7,899.15 up 70.05 points or 0.89 per cent Indian stock market astrology prediction

Both indexes marked their highest close since August 31. 

Stock exchanges will remain closed tomorrow on account of Ganesh Chaturthi. 

Shares of banking, power, healthcare, teck, auto and IT sectors firmed up, while consumer durable, refinery, realty and capital goods settled in the red. 

Among other Asian markets, Shanghai Composite jumped 4.89 per cent, while indices like, Hong Kong, Japan, Singapore, South Korea and Taiwan rose by up to 2.38 per cent. 

European stocks were also trading higher as key indices in France, Germany and the UK climbed by up to 1.25 per cent Commodity Market Astrology Tips

Sustained low inflation necessary for lower cost of fund: RBI

Ahead of the bi-monthly monetary policy review,RBI Deputy Governor Urjit Patel on Thursday said that sustained low inflation over medium- to long-term is necessary to bring down the cost of fund. 

"Sustained low inflation... at a low enough level is an important ingredient for making the cost apposite to that particular level of inflation and inflationary expectation Stock Market Trading Tips

"It's not inflation last week or last month but its medium- to long-term inflation," he said. 

Inflation, which RBI takes into account while deciding the interest rate, has remained low for the past several months. While the wholesale price index (WPI) remained in negative territory for 10 months in a row, the retail inflation (CPI) eased to 3.66 per cent in August. 

RBI is scheduled to announce bimonthly monetary policy review on September 29. 

In the last policy review on August 4, RBI had kept its policy rates unchanged because of elevated inflation level. 

Besides, Patel added, fiscal deficit of both the central and state governments also play an important role in determining the cost of fund as the center and states combined together are the largest borrowers in world over Himanshu Tiwari Astrologer Blog
"The other is credible programme of fiscal rectitude by the government... both the central and state governments can help... and the reason is they are in direct competition with other long-term borrowers," he said, adding the largest borrower across the world is the government. 

The deputy governor also said that higher cost of restructuring pushes the cost of fund and RBI is trying to address this issue. 

"The higher the cost of restructuring, the higher the cost of debt workout, the more it builds in the cost of capital from the side of the lender, and this is something we are in middle of addressing," he said Indian stock market astrology prediction

In addition, he said a competitive, vibrant banking system is important for lowering cost of capital, and a lower taxation too is helpful. 

As part of efforts to deepen financial inclusion, the RBI on Wednesday granted small finance bank licences to 10 entities. 

"We announced licences for small finance bank with focus on small borrowers. So, this addresses niche requirement that is there to be addressed for 'Make In India' for creating entrepreneurial numbers to create one million jobs per month," he added Commodity Market Astrology Tips

India plans to raise cap on equity investments by EPFO

India plans to lift the cap on equity investments made by the main state provident fund to 15 per cent from 5 per cent, Minister of State for Finance Jayant Sinha said on Thursday. 

Sinha told a business conference that the government is aiming to stabilise domestic equity markets by allowing greater investment by pension funds, which are typically long-term investors  Indian stock market astrology prediction

Sinha was referring to the Employees Provident Fund Organisation ( EPFO), which manages $100 billion in savings that are now mainly invested in government bonds paying a fixed rate of interest. 

Last week, the regulator of another, smaller, state pension fund said the government may raise its cap on equity investments on behalf of government workers to 50 percent of assets under management. 

The sums involved are small in relation to the $1.5 trillion market value of the Bombay Stock Exchange, but could grow quickly as Prime Minister Narendra Modi seeks to broaden India's tiny pensions net to cover more workers Commodity Market Astrology Tips