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Markets closed today on account of assembly elections in Maharashtra

The currency, debt and equity markets will be closed on Monday on account of assembly elections in Maharashtra. The polling for 90 Assembly seats of Haryana and 288 seats of Maharashtra started at 7 am and will continue till 6 pm.


The counting of votes will take place on October 24. Financial markets will resume trading on Tuesday, October 22.

The benchmark S&P BSE Sensex closed up 0.63 percent at 39,298.38 on Friday, while the broader NSE Nifty ended 0.65 percent higher at 11,661.85. On a weekly basis, both Sensex and Nifty ended with 3 percent gains. The 10-year benchmark bond yield closed at 6.70 percent, while the rupee settled at 71.15 to the dollar.

IMF backs India's corporation tax cut, says it will help revive investment

The International Monetary Fund on Friday supported India's recent decision to reduce corporate income tax, saying it has a positive impact on investment. It, however, said India should address continued fiscal consolidation and secure long-term stability of the fiscal conditions.

"We believe India still has limited fiscal space so they have to be careful. We support their corporate income tax cut because it has a positive impact on investment," Changyong Rhee, Director, Asia, and Pacific Department, IMF, told reporters at a news conference here.

UltraTech Cement Q2 preview: Expect strong profit growth on higher realizations, EBITDA - UltraTech Cement is expected to post stellar numbers for the July-September quarter, driven by strong operating income and higher realizations year-on-year (YoY), but sequential numbers are likely to be weak amid lower realizations from south/east markets.

South Indian Bank shares jump 7% after firm's Q2 profit rises - Shares of South Indian Bank jumped almost 7 percent in intraday trade on BSE on October 18, a day after the bank reported a 20.5 percent year-on-year (YoY) rise in net profit at Rs 84.48 crore in the second quarter of FY20 against a net profit of Rs 70.13 crore in the July-September quarter a year ago.

The bank's net interest income (NII) grew 15.37 percent YoY while other incomes rose 57.9 percent. The operating profit improved 32.82 percent YoY during the September quarter to Rs 411.45 crore.


Sensex | Market News | Assembly Election | UltraTech | South Indian Bank 
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