People walk past the Bombay Stock Exchange building in Mumbai. Reuters
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
Major Indian indices − Sensex and Nifty − closed at their highest-ever on Tuesday riding strong and sustained foreign fund inflows and bets of yet another rate cut over a near-normal monsoon forecast. Both indices touched their all-time highs − Sensex at 39,364.34 and Nifty 11,810.95 − during the early trade and mostly held on to the gains
Tokyo and Shanghai stocks closed higher on Friday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 per cent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12 per cent, or 1.96 points, to 1,616.93.
Sensex and Nifty ended lower on Thursday after advancing for four consecutive sessions as investors took to profit booking. Investors also treaded with caution ahead of Q4 results from index heavyweight Reliance Industries. Jet Airways was in the spotlight throughout the day over its steep fall.
Jebel Ali Free Zone (Jafza), the Middle East’s leading special economic zone and key growth engine of Dubai’s economy, has announced it will waive an estimated Dhs35 million in fines owed by its customers, in commemoration of the UAE Government’s designation of 2019 as the Year of Tolerance.
The Pakistan Tehreek-e-Insaf (PTI) government has accepted the long outstanding demand of stockbrokers to constitute a fund for stabilising the stock market. Adviser to Prime Minister on Finance Abdul Hafeez Shaikh accepted the proposal to form the fund at a meeting with the Pakistan Stock Exchange’s (PSX)
India’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $420 billion from $418.687 billion reported for the week ended May 3.
Smart Dubai has launched a report titled ‘Decentralised Data for Dubai’ in association with Outlier Ventures D3 Sandbox exploring the role of data and the Fourth Industrial Revolution in smart city building. The findings of the report underlined the opportunities presented by the convergence