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Saturday, 7 May 2016

A site on market this week

Leading Stock exchange NSE said that it’s going to introduce a new scheme of weekly options contracts on Bank Nifty index from May 27. They have received an approval for the same from SEBI. These contracts will be made available for trading in future and options segment, this service will come in to effect from march 27.Sources says that Tata Steel may sell its UK assets to Excalibur Steel. Tata Steel UK employees may get offered 10 percent stake from Excalibur Steel. By the end of the week Tata Steel closed at Rs 329.45 which was down by 0.77%. In banking sector, private banks like HDFC Bank were reported with good earnings in their fourth quarter and other banks were having mixed and match numbers.Being cheaper ATF this year, the stocks of Aviation companies are continuing to move upwards regularly. The stocks of Jet Airways, Indigo and Spice jet have made a great jump of 300% this year. The fertilizer firm MCFL (Mangalore Chemicals and Fertilizers Limited) reported a net loss of about 5.78 crore in its fourth quarter. To promote Make In India, government has decreased the import duty on mobile accessories to 29 percent. For brands like Apple, it would be a tough competition as it is importing Ready-To -Sell products in India. According to the industry, smartphone companies will take their order back of increasing the prices of their products.  At the end of the week Sensex and Nifty were ended comparatively down. The Sensex closed at 25228.50 points this week and was down by 0.13%. And nifty stayed up at 7733.45 points having a tiny downfall of 0.03%.