Sensex, Nifty snap 7-day losing streak after RBI hikes repo rate; Nifty eyes 17700 with support at 16850
BSE Sensex and NSE Nifty 50 ended nearly 2 per cent higher, snapping a 7-day losing streak on Friday. Investors cheered the RBI MPC announcement of the repo rate hike. BSE Sensex ended at 57,427, up 1,017 points or 1.8 per cent. The NSE Nifty 50 ended at 17,094, up 276 points or 1.64 per cent. Stocks of index heavyweights such as Reliance Industries Ltd (RIL), HDFC Bank, ICICI Bank, Housing Development Finance Corporation (HDFC), and?Bharti Airtel?were among the top index contributors. Broader markets performed in line with equity frontliners. S&P BSE MidCap index gained 1.4 per cent or 341 points to settle at 24,853.94, while the S&P BSE SmallCap index added 1.45 per cent or 406 points to finish at 28,453.
#Read More: https://www.financialexpress.com/market/sensex-nifty-snap-7-day-losing-streak-after-rbi-hikes-repo-rate-nifty-eyes-17700-with-support-at-16850/2696793/
RBI Monetary Policy Sep 2022: MPC hikes repo rate by 50bps for 3rd straight time; here’re key announcements
The?RBI?Governor ended his Monetary Policy Committee Update on September 30, 2022, with a quote from Mahatma Gandhi that reflected the need for optimism and confidence in the face of adversity. In my view, this quote pretty much summed up the RBI approach going forward. The RBI MPC speech which lasted for about 40 minutes, articulated that the repo interest rate has been increased by 50 basis points with a 5:1 majority in the MPC and the reasons for the same, primarily being persistent inflation on account of the global supply chain bottlenecks driven by the ongoing geo-political conflict between Ukraine and Russia.
LML Emotion targets Rs 300 crore revenue from the Indian, US, and European markets says MD Yogesh Bhatia
LML Emotion, the revived two-wheeler brand, which was acquired by SG Corporate Mobility last August, is all set to make its comeback to the Indian market.?
The manufacturer unveiled the concept versions of its upcoming electric two-wheeler models – the Star (e-Scooter), Moonshot (e-Hyperbike), and Orion (e-Bike).?
Southern Railway hikes platform ticket prices ahead of festive season; Check new rates at these stations
The Southern Railway on Thursday announced that the platform ticket rates will be hiked at eight stations in Chennai. The prices will see?an increase from Rs 10 to Rs 20 from October 1st to January?31st, 2023. The decision was taken to avoid overcrowding at railway stations and in trains during the season of festivals. Officials said that the increase in ticket prices will help control the number of people who enter the platform without any valid reason.
“Chennai Division of Southern Railway has decided to increase the Platform ticket fare from Rs 10 to Rs 20 per person for the upcoming festival season with effect from 1st October 2022 to 31st January 2023,” the statement from Southern Railway said,?reported ANI.
Jeevan Pramaan: 6 ways to submit Life Certificate for Super Senior Central Govt Pensioners from tomorrow
Jeevan Pramaan (Life Certificate) submission process: Central Government pensioners are required to submit their Annual Life Certificate (Jeevan Pramaan) in November for the continuation of their pension. However, the Central Government allows super senior pensioners in the age group of 80 years and above to submit Annual Life Certificate from 1st October onwards, instead of 1st November onwards, every year.
There are different modes for Jeevan Pramaan submission. Here’s a look at six ways in which super senior Central Government pensioners can submit their Annual Life Certificate from tomorrow (October 1). These methods can also be used by other pensioners for submission of Jeevan Pramaan in November.
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What is NPS Systematic Lump sum Withdrawal (SLW) proposed by PFRDA and how will it benefit subscribers?
Under National Pension System (NPS) rules, a subscriber is required to buy an annuity for at least?40%?of the total corpus while the remaining amount can be withdrawn as a lump sum in a single tranche or on an annual basis. Subscribers can even opt to buy an annuity with?100%?of the amount accumulated in his/her NPS account through years of investment. The Pension Fund Regulatory and Development Authority (PFRDA) is now inviting comments/suggestions on a new proposal that will allow monthly, quarterly, half-yearly or annual withdrawal of the lump sum amount till the age of 75 years.
Five movies Vikram Vedha will have to beat to become biggest grosser of 2022
Hrithik Roshan and Saif Ali Khan have returned to the big screen with mass action entertainer Vikram Vedha. The film has received rave reviews from fans and critics alike. Directed by Pushkar-Gayatri, the film is an official Hindi remake of the 2017 blockbuster of the same name starring R Madhavan and Vijay Sethupathi. As per the trade analysts, Vikram Vedha will open big at the box office considering the remake was loved by the viewers, the star power of Hrithik Roshan and his face-off with a power-packed performer Saif Ali Khan.
New CDS takes charge, expected to ensure synergy of Armed Forces
India’s second Chief of Defence Staff Gen Anil Chauhan took over charge on Friday (September 30) in a grand ceremony on the lawns of South Block and his day started with meeting Defence Minister,?Rajnath Singh?and the top military officers.
He will have three roles — these are CDS, Permanent Chairman of Chief of Staff Committee and Secretary, Department of Military Affairs (DMA).
5 ways to maximise credit card benefits this festive season
With its cultural significance, the festive season is seen as an auspicious time for purchases. It is also that time of the year when various brands offer lucrative discounts on big-ticket items such as household appliances, electronics, and even vehicles.
A credit card can be handy if you want to save further on your festive purchases. Many banks and credit card issuers offer additional discounts during the festive season. Some online financial marketplaces let you compare different credit cards and apply for one too. If you want to maximise your savings this festive season, here are five ways your credit cards can help you.