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Jun 8, 2018 3:37 PM

Market closes flat after recovering towards the end of the session.

The market closed flat with a negative bias after recovering towards the end of the session. The BSE Sensex closed at 35,443 points and the NSE Nifty closed at 10,767 points. Pharma stocks were the top gainers throughout the session while Power Grid Corp, Hindalco, among others were the top index losers in intraday trade.

Jun 8, 2018 3:33 PM

The market turns red towards the close, after a sharp recovery.

Jun 8, 2018 3:29 PM

The rupee is extending losses, at 67.70 against the US dollar.

Jun 8, 2018 3:26 PM

Iran slams US for seeking Saudi oil output hike, says OPEC won't comply.##Iran slams USfor seeking Saudi oil output hike, says OPEC won't comply.

Iran criticised a US request that Saudi Arabia pump more oil to cover a drop in Iranian exports and predicted OPEC would not heed the appeal, setting the stage for a tough meeting of the producer group later this month, a Reuters report said.

Iran’s OPEC governor, Hossein Kazempour Ardebili, was responding to news that the US government had unofficially asked Saudi Arabia and some other OPEC producers to raise output.

“It’s crazy and astonishing to see instruction coming from Washington to Saudi to act and replace a shortfall of Iran’s export due to their Illegal sanction on Iran and Venezuela,” Kazempour said in comments to Reuters.

Jun 8, 2018 3:26 PM

Just in: Tata Steel has said that it has not submitted any bid for Usha Martin's steel business.

Jun 8, 2018 3:24 PM

Bonds rally on hopes government will bolster markets.##Bonds rally on hopes government will bolster markets.

Indian bonds rallied on Friday on optimism that the government will soon take steps to ease a jump in bond yields after word spread that the interim finance minister had met a handful of bankers and analysts to seek feedback on the economy.

In the meeting held late on Thursday, Piyush Goyal allayed concerns around India's fiscal deficit and rising inflation, and sought feedback on massive losses in banks' bond holdings, two participants who attended the meeting told Reuters.

Goyal wanted to know ways in which the government could help banks reduce the trading losses on their bond portfolios due to soaring yields, one of the participants said.

Some of the suggestions from the participants included issuance of floating rate bonds and bond buybacks by the government, he said.

(From Reuters)

Jun 8, 2018 3:16 PM

The market has reversed its losses, benchmark indices in the green but trade flat.

Jun 8, 2018 3:05 PM

The Nifty has turned positive, trading at 10,771 points.

Jun 8, 2018 3:04 PM

Reliance is currently trading at day's high.

Jun 8, 2018 2:54 PM

Market recovers in trade, Sun Pharma gains 7%.

The market has recovered in trade with the BSE Sensex trading at 35,438 points and the NSE Nifty trading at 10,763 points. Pharma stocks remain the top index gainers while Power Grid Corp, Hindalco, among others continue to be the top index losers.

Jun 8, 2018 2:52 PM

Tata Motors: The May total global wholesales rise 24%, at 1,07,343 units.

Jun 8, 2018 2:39 PM

BEML gains nearly 4% in trade. Here's why.

Jun 8, 2018 2:32 PM

Check out how RBI's rate increase will affect your finances.##Check out how RBI's rate increase will affect your finances.

With a move to raise the federal funds rate this week, Urjit Patel notched his first interest rate increase as the Reserve Bank of India (RBI) governor. For the rest of us, the first rate increase in four and a half years is significant for changing the terms by which you borrow money and access credit.

The Monetary Policy Committee of the RBI opted for a hike in key interest rates by 25 basis points to 6.25 percent. While rising rates help savers, the escalating cost of debt puts pressure on them too.

Read the full story here

Jun 8, 2018 2:20 PM

Marketcontinues to trade in the red, Hindalco loses.

The market continues to trade in the red with the BSE Sensex trading at 35,336 points and the NSE Nifty is trading at 10,731 points amid weak currency and global cues. The oil prices fell in in intraday trade and it remains volatile, according to experts. Power Grid Corp, Hindalco, BPCL, HDFC and Grasim are the top index losers while four pharma stocks - Sun Pharma, Dr Reddy's Labs, Lupin and Cipla - and Idea Cellular are the top index gainers of the hour.

Jun 8, 2018 2:03 PM

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