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Markets will remain closed on 19th & 20th October 2017.
We wish all our readers a very Happy Diwali!

Sensex ends the week up 6%
Fri, 28 Oct Closing

In what seemed to be a jubilant mood in the Indian stock market the indices had a strong opening today and managed to retain the momentum till the final hours of trade. Metal and auto stocks were particularly in favour. Banking stocks also evinced investor interest after the RBI's rate hike early this week. While the BSE-Sensex closed higher by around 516 points (up 2.9%), the NSE-Nifty closed higher by around 156 points (up 3%). The BSE Mid Cap and the BSE Small Cap indices gained 1.5% and 1% respectively. 10 stocks gained for every decline on the BSE 100 index today.

As regards global markets, other Asian markets also closed higher today while European indices have opened on a negative note. The rupee was trading at Rs 48.8 to the dollar at the time of writing.

The Reserve Bank of India (RBI) on Tuesday deregulated the savings deposit rate, the last administered bank rate in India. The deregulation of the rate is expected to spark off competition among banks to garner low-cost deposits. Typically banks with high CASA (current and savings account) base managed to sustain a higher net interest margin (NIM) during times of high interest rates. This was because a large portion of the deposits came at very cheap rates. Moreover the CASA rate remained fixed irrespective of the level of inflation and rate hikes in lending. However, going forward, sustenance of high margins will be a factor of the bank's market share as well as pricing power. New private sector banks, like Yes Bank and Kotak Mahindra Bank are expected to be more aggressive in pricing savings deposits. As per State Bank Of India (SBI), the hike cost of savings deposits that comprise about 34% of the bank's total deposit base would be around 1% to 1.5%. SBI has the highest CASA base amongst banks in India.

Titan Industries announced the results for the second quarter and half year ended September 2011. The watchmaker registered a sales growth of 48.4% YoY while the net profit was up 39.5% YoY for the half year period. The income for watches recorded a growth of 16.1% YoY. On the other hand jewellery business recorded an income growth of 44.7% YoY. The company had retail chain spanning 737 stores strong, as on 30th September ith a retail area crossing 9.2 lac square feet nationally for all its brands. The company has more than 11,000 dealers across 2,500 towns are involved in retailing of watches.

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Oct 19, 2017 (Close)

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