Key Indian benchmark indices close higher for the eighth consecutive session
Mumbai, Apr 16 (IBNS): The Indian market closed higher on Monday with BSE Sensex up 112.78 points at 34305.43 and NSE Nifty up 47.75 point at 10528.35.
Top gainers included Cipla, Grasim UPL, Hero Motocorp, Ktak Mahindra, Adani Ports, M&M, Bajaj Auto and Lupin while Tata Motors, Tata Motors (D), Infosys, Wipro, ONGC, Idea Cellular and SBI were some of the stocks that declined.
Meanwhile, the NSE and the BSE, along with ​b​anks, Stock Holding Corporation of India Limited (SHCIL), and designated ​p​ost ​o​ffices, has started selling Sovereign Gold Bond, 2018-19-Series-I bonds from Monday.
On Friday, the Union Finance Ministry said that the Government of India, in consultation with the RBI, has decided to issue Sovereign Gold Bond, 2018-19-Series-I, applications for which will be accepted from April 16 to 20.
The Certificate of Bond(s) will be issued on May 4, 2018.
The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
Tenor of the Bond will be for a period of 8 years with exit option in 5th, 6th & 7th year, to be exercised on the interest payment dates, the Ministry said.
Minimum permissible investment will be 1 gram of gold. Maximum limit of subscribed shall be 4 KG for individual & HUF and 20 Kg for trusts.
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