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 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 Middle East’s biggest aviation event, the Dubai Airshow 2019, opened on Sunday. The show draws major commercial and military firms from around the world, as well as smaller manufacturers competing for business.
Sanad Aerotech (Sanad), a wholly owned subsidiary of Mubadala Investment Company (Mubadala) and a leading engine Maintenance, Repair and Overhaul (MRO) solutions provider, has signed a Dhs 500 million landmark agreement with GE
The Mazda 3 was awarded the Supreme Award for the Women’s World Car of the Year (WWCOTY) at the Dubai International Motor Show in the presence of Founder of WWCOTY, Sandy Myhre from New Zealand and the GCC Jury Shereen Shabnam.
The Ministry of Health and Prevention, MoHAP, and the Department of Economic Development — Ajman (Ajman DED), agreed upon enhancing the electronic connectivity in the field of licensing private medical and pharmaceutical facilities,