Commuters walk past the Bombay Stock Exchange in Mumbai. Reuters
The Sensex on Tuesday ended 382 points in the red, after touching a record high of 39,572 minutes into the trade. The session started on a firm note with Sensex hitting a life-time high of 39,572, but it failed to hold on to the early gains and ended over 380 points lower.
The S&P BSE Sensex closed 382.87 points or 0.97 per cent lower at 38,969.80 and the broader Nifty fell by 119.15 points or 1.01 per cent. The Bank Nifty and the Nifty index also hit a 52-week high. “The market gave up the gains after testing a new high as the positive sentiment on exit polls was gradually priced-in. The pre-election rally may continue, and quality mid & small caps may out-perform if the election verdict comes in tandem with the exit polls,” said Vinod Nair, Head of Research, Geojit Financial Services.
The downside risk in the market is likely to be protected in the near-term by the extension in economic reforms and the pick-up in earnings. Already the global peers are trading positive with signs of ease in trade tensions,” Nair added.
Shares of Tata Motors fell 7.05 per cent on the BSE after it reported a weak set of numbers for the quarter ended March 2019. Its consolidated net profit fell by 49 per cent to Rs 1,108 crore.
Dr Reddy’s Laboratories shares rose 4.45 per cent on Monday’s correction of created value-buying opportunities for the investors.
Shares of Jet Airways rallied 14.73 per cent on reports of Hinduja Group’s likely bid for the grounded airline this week after it received approval from the airline’s key stakeholders, including founder Naresh Goyal and Etihad Airways, said Deepak Jasani of HDFC Securities.
Indo-Asian News Service
The key Indian equity indices rose on Thursday with the BSE Sensex gaining over 280 points. Buying activity in banking, finance and auto stocks supported the indices.
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
Mumbai: Sensex and Nifty ended lower after the weak auto sales figures and surging oil prices dampened investor sentiments on Wednesday. The Sensex closed 173.78 points or 0.45 per cent lower at 38,557.04 while the Nifty settled at 11,498.90, down by 57 points. “Consolidation continued as weak auto sales have dimmed
The Abu Dhabi National Oil Company (Adnoc) signed on Sunday, two framework agreements with Mubadala Investment Company (Mubadala) and Emirates Nuclear Energy Corporation (Enec)
Khalaf Ahmad Al Habtoor - Founding Chairman of the Al Habtoor Group (AHG) - welcomed Shlomi Fogel of Ampa Group, Co-owner, Chairman and CEO - at the AHG headquarters on Al Wasl Road, Dubai.
The European Union (EU) wants to arm itself with new powers to control big technology companies, a newspaper reported on Sunday. The proposed plan includes forcing tech giants to break up or sell some of their European operations
Dubai Chamber of Commerce and Industry (DCCI) has announced the launch of the Dubai Chamber Interview Series, a virtual event series featuring live-one-on-one interviews with prominent local and international business figures from a wide range of industries.