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Markets extend gains as investors cheer US court tariff verdict; Sensex climbs 480 pts

Mumbai, Feb 23 (PTI) Equity benchmark indices Sensex and Nifty closed higher on Monday, tracking gains in PSU bank, auto and financial stocks, as investors’ sentiments improved after the US Supreme Court struck down the Trump administration’s sweeping tariffs. The 30-share BSE Sensex climbed 479.95 points, or 0.58 per cent, to settle at 83,294.66. During the session, the benchmark jumped 671.44 points, or 0.81 per cent, to hit an intraday high of 83,486.15. The 50-share NSE Nifty advanced 141.75 points, or 0.55 per cent, to close at 25,713. In the intraday session, it appreciated 200.2 points, or 0.78 per cent,

RBI not looking to revisit lending rules for proprietary traders, brokers, governor says

MUMBAI, Feb 23 (Reuters) – RBI is not planning to revisit recently announced rules for bank financing of proprietary traders and brokers, its governor said on Monday. In rules released earlier this month, the Reserve Bank of India raised the collateral requirements for bank guarantees to brokers and barred lending for proprietary trading by them. The changes are due to take effect from April 1. Shares of brokerage firms fell last week on concerns the rules would impact brokers’ profit margins and reduce trading volumes. Brokers have sought a review of the rules in a letter sent to the market

Trump hikes global tariffs to 15% as fallout from Supreme Court loss continues

Brisbane, Feb 22 (The Conversation) US President Donald Trump has announced the United States will increase baseline tariffs on imports from all countries to 15%, as the fallout continues from a seismic Supreme Court ruling on Friday. Trump had imposed sweeping “reciprocal tariffs” last year under an emergency powers act, but the court ruled this law did not authorise him to do so. Speaking in the wake of the ruling on Friday, Trump admonished the justices of the Supreme Court. He called the Democratic justices who ruled against the tariffs a “disgrace to the nation”. He also said he felt

RBI watching development around IDFC First Bank fraud, no systemic issue: Guv Malhotra

New Delhi, Feb 23 (PTI) The RBI is watching the development around the Rs 590 crore fraud at IDFC First Bank and there is no systemic issue, Governor Sanjay Malhotra said on Monday. IDFC First Bank had on Sunday disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana state government accounts. “We are watching the development, there is no systemic issue,” Malhotra told reporters at a press briefing after the customary post budget address by Finance Minister Nirmala Sitharaman to the Central Board of Directors of

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