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MCX SUPPORT & RESISTANCE LEVEL (21 SEP 2018)

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INTERNATIONAL MARKET UPDATE (21 SEP 2018)

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Opening Bell (21 Sep 2018)

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Sensex surges nearly 300 points, Nifty reclaims 11,300; Yes Bank recovers after crashing 30%

Barring information technology names, all sectoral indices are trading in the green, with maximum gains visible in banks, auto, metals, pharma, and energy names.

It’s a good start to the market on this Friday morning as benchmark indices have begun on a good note. Positive global cues and a stronger start to the rupee is aiding sentiment on D-Street. The Nifty reclaimed 11,300 in the opening minutes.

The Sensex is up 171.63 points or 0.46% at 37292.85, while the Nifty is higher by 69.20 points or 0.62% at 11303.60. The market breadth is positive as 461 shares advanced, against a decline of 129 shares, while 61 shares were unchanged.

Barring information technology names, all sectoral indices are trading in the green, with maximum gains visible in banks, auto, metals, pharma, and energy names. In the midcaps space, steel stocks are performing well. Overall, the Nifty Midcap index is trading higher by a percent.

Among stocks, shares of Yes Bank has fallen 15 percent following current MD & CEO Rana Kapoor’s term being cut short. Jet Airways is lower by 6 percent on the back of IT surveys at its premises.

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Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-surges-nearly-300-points-nifty-reclaims-11300-yes-bank-recovers-after-crashing-30-2972051.html

Govt considering merging PNB, OBC, Andhra Bank: Report

The development comes days after the Centre announced a plan to merge three public sector lenders -- Bank of Baroda, Dena Bank and Vijaya Bank

After deciding to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank, the government is likely to announce the merger of three other banks before the end of the year, according to a report by DNA Money.

The three public sector banks (PSBs) are likely to be Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and Andhra Bank, the report suggests.

"Government is analysing the merger of PNB, OBC and Andhra Bank, as it wants few large banks in the country," a source was quoted as saying.


The government is reportedly holding talks with banking officials to examine the feasibility of such a merger and will likely announce the move before December 31.

On September 17, the central government announced the proposal to merge three public sector lenders -- BoB, Dena Bank and Vijaya Bank.

Also listen | Podcast: Editor's pick of the day – All you need to know about Bank of Baroda, Vijaya Bank, Dena Bank merger

The cabinet is likely to approve a scheme of amalgamation of Dena Bank, Vijaya Bank and BoB next week, the report adds.

The three state-run banks would work on strict timeline and necessary regulatory process is expected to be over by the end of 2018-19, they said, adding that the merged entity should be operational from April 1, 2019.

The move follows top lender State Bank of India (SBI) merging five of its subsidiary banks with itself last year and taking over Bharatiya Mahila Bank, catapulting it to be among top 50 global lenders.

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Warren Buffett started investing when he was 11: Here's a look at the billionaire investor's fortune

Warren Buffett's precocious business acumen was on evidence since early childhood. Here's how the world's third richest man managed to gradually amass a fortune over the years.

Buffett bought his first stock in 1941 at the age of 11, buying six shares of Cities Service, an oil service company, at $38 per share. The world's third richest man filed his first tax return aged 14, after making $500 by delivering newspapers. By the time he finished high school, Buffett had bought a stake in a 40-acre farm in Omaha, Nebraska.

In December of 1962, Warren Buffett (then 32), was gaining notoriety as an investor in Omaha, this was also when he first began buying stock in Berkshire Hathaway. By mid-1965, he had bought enough shares to take control of the company. (Pictured here are caricatures of Buffet and Berkshire Hathaway Vice-Chairman Charlie Munger on Heinz bottles. Kraft Heinz is backed by Berkshire Hathaway and 3G Capital)

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Source:https://www.moneycontrol.com/news/business/warren-buffett-started-investing-when-he-was-11-heres-a-look-at-the-billionaire-investors-fortune-2835821-3.html