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Banks, cap goods drive markets higher
Mon, 2 Mar Closing

Today's volatile session came to an end with the BSE-Sensex gaining about 98 points and NSE-Nifty gaining about 55 points. S&P BSE Midcap and S&P BSE Smallcap indices garnered gains of 1.3% and 0.9%, respectively. Indian Rupee is trading at 61.95, up 0.2% while crude oil is trading higher by Rs 10 at Rs 3,073 per barrel. Gold and Silver gained positive momentum with gains of about 0.8% each.

Investor sentiment towards European market has gained traction as better than expected economic numbers impressed investors. These economic numbers includes unemployment and inflation numbers that directly affects the Eurozone's economy. The DAX and FTSE have gained about 0.3% each.

Banks, oil and gas and cement stocks were the major gainers of today's session. Banks namely Axis Bank and Yes Bank gained 5% and 2.3%, respectively. The Finance Minister, Mr. Arun Jaitley had proposed to do away with the difference between Foreign Direct Investment (FDI) and foreign institutional investors (FIIs). With this move, Axis Bank awaits approval of its shareholders to allow the bank increase the FII limit to 74%. FDI, in terms of percentage, in Axis Bank is 52% and the FII limit is 62%.

In a move that could potentially bring in significant domestic funds into the markets, the government has stated that all non-government provident funds will compulsorily have to invest 5% of their corpus in to equities. The finance ministry is in the process of modifying its rules in this regard. The new rules when notified, will apply to all non-government PFs, Superannuation funds and Gratuity funds.

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Views on News

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Market Updates)

Feb 26, 2021 | Updated on Feb 26, 2021

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JK CEMENT Announces Quarterly Results (3QFY21); Net Profit Up 73.2% (Quarterly Result Update)

Feb 10, 2021 | Updated on Feb 10, 2021

For the quarter ended December 2020, JK CEMENT has posted a net profit of Rs 2 bn (up 73.2% YoY). Sales on the other hand came in at Rs 18 bn (up 25.3% YoY). Read on for a complete analysis of JK CEMENT's quarterly results.

SHREE CEMENT Announces Quarterly Results (3QFY21); Net Profit Up 102.0% (Quarterly Result Update)

Feb 1, 2021 | Updated on Feb 1, 2021

For the quarter ended December 2020, SHREE CEMENT has posted a net profit of Rs 6 bn (up 102.0% YoY). Sales on the other hand came in at Rs 33 bn (up 16.2% YoY). Read on for a complete analysis of SHREE CEMENT's quarterly results.

JK CEMENT 2019-20 Annual Report Analysis (Annual Result Update)

Dec 1, 2020 | Updated on Dec 1, 2020

Here's an analysis of the annual report of JK CEMENT for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of JK CEMENT. Also includes updates on the valuation of JK CEMENT.

ACC 2018-19 Annual Report Analysis (Annual Result Update)

Oct 20, 2020 | Updated on Oct 20, 2020

Here's an analysis of the annual report of ACC for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of ACC . Also includes updates on the valuation of ACC .

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