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Stock Market News - PSU Banks Gain, HDFC Top Gainer

RBI monetary policy: The Reserve Bank of India is likely to go for yet another rate cut on October 4, the fifth in a row, as inflation is within the comfort zone and the need to boost the economy is pressing. RBI Governor Shaktikanta Das has already hinted that benign inflation provides room for further monetary policy easing while space for fiscal space is limited.

BPCL trades flat with negative bias -- The international Credit Rating Agency Moody's on Thursday warned of downgrading Bharat Petroleum Corporation (BPCL) to Ba1 if the government goes ahead with privatization by selling its stake to a private entity.

HDIL slips 4% after EOW arrests Rakesh and Sarang Wadhawan Alert: They are the promoters of HDIL

Rupee Update: Rupee traded with mild gains ahead of RBI policy rate decision. The Indian currency traded 8 paise higher at 70.82 per dollar around 0945 hours IST.

Oil price update: Oil futures edged higher on Friday but were on track for a large weekly loss on fears that slower global economic growth will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent attacks.

PSU Banks Gain; Syndicate Bank Up Nearly 3% The NSE Nifty PSU Bank Index advanced over 1 percent, led by the rally in Syndicate Bank, Allahabad Bank and State Bank of India

Manpasand Beverages Locked In Lower Circuit For Nineteenth Day Shares of Manpasand Beverages was locked in lower circuit of 5 percent for the nineteenth consecutive trading session, their longest ever losing streak. Batliboi & Purohit resigned as statutory auditor to Manpasand Beverages Ltd., citing its inability to audit because of a lack of cooperation from the maker of MangoSip juice.

HDFC Top Gainer On Sensex, Nifty After Sharing Quarterly Updates Shares of HDFC rose as much as 1.6 percent to Rs 2,007. The company’s profit on the sale of investments rose 83 percent on a yearly basis to Rs 1,632 crore in the September quarter.

Yes Bank Halts Rally After Large Trade Shares of Yes Bank swung to a fall of as much as 2.4 percent after rising as much as 8 percent. About 10 lakh shares of the Mumbai-based lender changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Sensex | Market News | RBI | Monetary Policy | Bank Nifty | Top Gainers 


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