Commuters walk past the Bombay Stock Exchange in Mumbai. Reuters
The Indian equity markets is set to face another volatile week ahead, as the ongoing flight of foreign funds is expected to continue on the back of latest taxation surcharge on the super rich category along with subdued quarterly earning numbers.
Strong gains by index major Infosys and Sun Pharma aided the Sensex in advancing over 160 points on Monday. Infosys hit its all-time high level with 7.2 per cent gain on the back of strong numbers in its quarterly results
Looking like the last day of the losing streak for the markets, Thursday’s trading session, however, proved no different that the developments over the past five days.
Ahead of the fourth quarter results of the IT heavyweights Infosys and TCS, and key macro data release, major equity indices ended the week on a higher note led by gains in banking stocks. The BSE Sensex closed 160.10 points or 0.41 per cent higher at 38,767.11. The broader Nifty finished 46.75 points or 0.40 per cent higher at 11,643.45. “Market turned positive despite a weak rupee as investors
Auto sales in China fell for a 15th consecutive month in September, data from its biggest auto industry association showed, dampening hopes for a second-half turnaround in the world’s largest auto market.
French energy giant Total SA said on Monday it will buy a 37.4 per cent stake in Indian gas distribution company Adani Gas, as it looks to capitalise on India’s push for cleaner sources of energy.
The German economy is unlikely to slide into a prolonged recession even as it languishes in a weak growth cycle, the Economy Ministry said on Monday.