Source: Agencies16 May 2016 09:55:30
Mumbau, May 16: The 30-share S&P BSE Sensex is currently trading lower by 10.66 points, or 0.04%, to 25,478.91, while the Nifty 50 of the National Stock Exchange (NSE) falls 4.85 points, or 0.06%, to 7,810.05.
Bank of Baroda falls 5% to Rs.147.15. Bank of Baroda on Friday reported a net loss of Rs.3,230.14 crore for the March quarter due to higher provisions for bad loans. The loss was restricted due to a tax write-back of Rs.1,055.06 crore in the quarter.
The Indian rupee on Monday weakens against the US dollar at 66.86, down 0.18% from its previous close of 66.77, on concerns that the delay of monsoon and weak macro economic data could dampen the prospects of further rate cuts by the RBI.
The dollar is steady at ¥108.685 after spiking briefly on Friday to 109.57, its highest since late April, in reaction to the strong US data. The euro was flat at $1.1314 after slipping to a two-week low of $1.1283 on Friday.
Asian stocks rebounds from a one-month low as Japanese shares advanced after a report the government may delay a planned sales tax increase.