Indian stock traders watch share prices on their screen during intra-day trade in Mumbai. Agence France-Presse
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
Opec and allied nations agreed on Saturday to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost energy prices hard-hit by the coronavirus pandemic.
G20 members and invited countries have pledged more than $21 billion to fight COVID-19 and, with a spirit of solidarity, have shown they will spare no effort to protect lives and the most vulnerable.
Emaar chairman Mohamed Alabbar has told the UAE’s leading contractors that they must prepare for a new way of working as the economic activity gradually starts to pick up.