Jewellery
Stocks were in limelight after the Reserve Bank of India allowed
nominated banks to provide gold on loan to jewellers, thereby
reducing their funding cost. The central bank also removes
restriction on import of gold coins.
the
RBI said, "Nominated banks are now permitted to import gold on
consignment basis. All sale of gold domestically will, however, be
against upfront payments. Banks are free to grant gold metal loans.on
November 28 last year, gold imports were linked with its exports.
shares of jewellery
maker such as Gitanjali Gems, Tribhovandas Bhimji Zaveri (TBZ), PC
Jeweller, Rajesh Exports and Titan Company were trading higher by up
to 5% on reports that the Reserve Bank of India allowed nominated
banks to provide gold on loan to jewellers.
On the sectoral
front, metal, consumer durables and capital goods witnessed the
maximum gain in trade, while fast moving consumer remained the lone
loser on the BSE sectoral space.
The broader indices
too were going neck-to-neck with benchmarks, while the market breadth
on the BSE was positive; there were 1243 shares on the gaining side
against 729 shares on the losing side while 62 shares remain
unchanged
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