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June 26, Monday 2017 8:58 PM       

       HEADLINES: Dilip knew that actress would be attacked, Pulsar Suni tells police                                              Ticket-less travel by police officers in Kochi Metro, KMRL files complaint                                              Counterfeit note case to be handed over to CBI, one more arrested                                              Aju Varghese expresses support for Dileep                                              Attempts to make Joy’s suicide result of family problem: Brother                                              Surgical strikes prove India’s strength, no country questioned it: Modi                                              Miss Haryana Manushi Chhillar crowned Femina Miss India 2017                                              White House forgoes Iftar for first time in two decades                                              Chinese media says 'stubborn' India aiming to counter-balance Beijing's CPEC                                              China's fastest bullet train makes debut                                              Mahindra Racing to exit Moto3 at end of 2017                                              Kaumudi Facebook
       BUSINESS Next Article: RBI issues new Rs.500 bank notes with inset letter 'A'  
       Sensex closes higher, Nifty advances as inflation cools
 
         Posted on :22:46:57 Jun 14, 2017
   
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       Last edited on:22:46:57 Jun 14, 2017
         Tags: Sensex closes higher, Nifty advances as infla
 
Mumbai: Stocks were restrained in their movement today ahead of the US Fed policy decision as the Sensex saw deep fluctuations, but managed to close with an upward bias taking cues from a falling inflation.
 
Banking stocks were in the spotlight as the RBI identified 12 major NPA accounts for insolvency proceedings, which will be referred to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code for quicker resolution.
 
Inflation based on the wholesale price index fell to a five-month low of 2.17 per cent in May, which boosted investors' expectations that the RBI may finally snip rates.
 
But they decided not to go the whole hog as they waited for the US Federal Reserve's policy move later in the day.
 
The 30-share Sensex resumed higher before settling at 31,155.91, a gain of 52.42 points, or 0.17 per cent. The gauge had gained 7.79 points in the previous session.
 
The 50-share Nifty also ended higher by 11.25 points, or 0.12 per cent, at 9,618.15.
 
In the meantime, the Cabinet paved the way for a proposal to introduce a Bill in Parliament for setting up a Resolution Corporation to deal with bankruptcy in banks, giving the stocks more good news. The Nifty PSU Bank index jumped by 0.92 per cent.
 
"PSU banks exhibited a sharp surge taking cues from NPA resolution policies being formulated by RBI and bank consolidation plans from the central government," said Anand James, Chief Market Strategist, Geojit Financial Services.
 
RIL, L&T, Dr Reddy's and ICICI Bank ended higher.
 
In 30-share Sensex, RIL gained the most by 3.30 per cent on reports that its subsidiary Reliance Jio added 4 million new users to reach a consumer base of 112.55 million.
 
Sector-wise, the BSE realty rose by 1.50 per cent.
 
Capital goods, oil and gas and PSU counters provided support.
 
The broader market outperformed the key indices, with the small-cap index rising 0.46 per cent and the mid-cap 0.01 per cent.
 
Asia offered a mixed picture at the close. Key indices in Europe climbed.
 
Foreign funds sold shares net Rs 312.40 crore while domestic investors bought Rs 304.58 crore yesterday, as per provisional figures.
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       BUSINESS
Next Article: RBI issues new Rs.500 bank notes with inset letter 'A'
 
 
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Sensex closes higher, Nifty advances as inflation cools  
RBI issues new Rs.500 bank notes with inset letter 'A'  
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Actress case: Do you think Pulsar Suni's letter is part of a conspiracy?
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