Rate cut fails to boost Indian stock markets, Sensex down – Gulf Today

Rate cut fails to boost Indian stock markets, Sensex down – Gulf Today

Investors watch share prices on a screen (not in picture) at the Bombay Stock Exchange.. Indian stock markets erased all their initial gains on Friday, with the BSE Sensex closing 131.18 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.. A company has to hold its AGM within a period of five months from the date of closing of the financial year.. The AGMs for financial year 2019-20 were originally due by August 31, and after the decision, companies can now hold their AGMs by September 30.. The relaxations announced on Thursday are among of a series of relief measures recently announced by the Securities and Exchange Board of India..