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MARKETS LIVE: Nifty tests 10 700 before the RBI board meets; PSU banks slide

November 19, 2018 Business 2 Views The reference indices have prepared their opening gains and are now trading in a…

The reference indices have prepared their opening gains and are now trading in a narrow range with some positive increases with their signatures from their Asian comrades.

Jet Airways dropped by 12 percent to Rs 303.05 on the National Stock Exchange (NSE) in the opening trade after Tata Sons said on Friday that it was in preliminary talks with Jet Airways but has not submitted a proposal to acquire a effort, cooling speculation that an agreement was imminent.

In key sectors, the Nifty PSU Bank Index has exceeded 0.5 percent weighted by the Oriental Bank of Commerce and the Bank of India.

The rupee trade is somewhat weaker on Monday and is lowered to 72.08 against the dollar in intradags trading so far, compared with the previous closing of 71

.92 against the greenback.

The RBI Board Meet Today

The India Reserve Bank (RBI) Board is likely to meet today. In recent days, the government and the RBI have had discussions in an effort to arrive at a common ground of at least two government demands – light PCA standards for some banks together with adjusting the regulatory capital requirement for banks with international standards and a special dispensation for MSME.

Global markets

Asian stocks cautiously cut higher on Monday by conflicting signals of chance of violence in the China-US trade dispute, while a new air of concern at global outlook in the Federal Reserve undermined the dollar.

MSCI’s broadest Asia Pacific Asia-Pacific outlook Japan dropped 0.1 percent and South Korea 0.5 percent. Japan’s Nikkei got 0.4 percent.

Oil prices

Oil prices rose on Monday when trading companies expected the largest exporter Saudi Arabia to run OPEC producer club to reduce supply by the end of the year.

Last month Brent crude Oil futures, the international benchmark for oil prices, traded at $ 67.29 a barrel, up 53 cents, or 0.8 percent, from their last closing. US West Texas Intermediate (WTI) crude futures were up 61 cents, or 1.1 percent, at $ 57.07 per barrel.

(with Reuters entrances)

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