Stock markets snap 9-day fall, Sensex gains 228 points

Thu, 23 May 2019

Stock markets snap 9-day fall, Sensex gains 228 points

ANI
14 May 2019, 23:27 GMT+10

Mumbai (Maharashtra) [India], May 14 (ANI): Indian equity markets snapped a nine-day fall on Tuesday and closed in the green after erasing morning losses as European stocks opened higher.

Besides, low retail inflation in April at 2.92 per cent brought hopes of a key interest rate cut in June. Except IT, all sectoral indices closed in the positive zone.

The SP BSE Sensex was up 228 points to close at 37,319 while the Nifty 50 gained 74 points to wind up at 11,222.

Indiabulls Housing Finance was the top outperformer, gaining nearly 6.5 per cent to close at Rs 701.85.

Bharti Airtel too gained over 6 per cent and closed at Rs 338 after announcement of scrapping its low-valued post-paid plans to improve its average revenue per user (ARPU) and boost profitability.

But shares of Jet Airways fell 7.4 per cent to close at Rs 129.10 each after the company's chief financial officer resigned with immediate effect citing personal reasons.

Most IT stocks were in the red. Tech Mahindra, Tata Consultancy Services, HCL Tech and Wipro lost between 1.4 and 3 per cent.

Meanwhile, European shares bounced in early trading after US President Donald Trump said that he was optimistic about resolving the trade dispute with China.

Asian shares were mixed as China said it would impose higher tariffs on 60 billion dollars of US goods following Washington's decision last week to hike its levies on 200 billion dollars of Chinese imports. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Jose Sun.

More Information

US Sports

Raptors thump Bucks to level NBA Eastern Conference finals at 2-2

United States - The Toronto Raptors closed ranks around hurting star Kawhi Leonard, turning in a total team effort in ...

Thousands of Czechs Demand Justice Minister Resign

PRAGUE - Tens of thousands of protesters rallied in the Czech capital Tuesday as demands intensified for the resignation of ...

New Lakers coach Vogel calls for 'togetherness'

United States - Los Angeles Lakers head coach Frank Vogel said forging a sense of "togetherness" would be crucial as ...

Johnson blasts Lakers GM after shock exit

Los Angeles - Former Los Angeles Lakers executive Magic Johnson said a breakdown in relations with the team's general manager ...

Leonard stars as Raptors claw back with win over Bucks

United States - Kawhi Leonard scored eight of his 36 points in the second overtime period Sunday to lead the ...

Ex-NBA star used 'fake penis' to cheat drug testers in 2004

Los Angeles - Former NBA star Lamar Odom has revealed he used a prosthetic penis to dupe drug-testers before competing ...

Business

India gets 3/4 billion dollar loan for railways track electrification

NEW DELHI, India - The Indian government is borrowing $750 million equivalent in Indian Rupees, in what will be the ...

Stalling of trade talks weighs on Wall Street

NEW YORK, New York - The U.S. stock markets were largely unchanged on Wednesday, although all the major indices recorded ...

Irish Trade Minister warns businesses to prepare for no deal Brexit

DUBLIN, Ireland - The Irish deputy leader has briefed the cabinet on the risks to Ireland of a no-deal Brexit ...

Stocks in Asia drift, British pound sinks further

SYDNEY, Australia - Stocks traded in a tight-range on Wednesday in Asia, with no bourse showing any major variance.Japan's Nikkei ...

U.S. accused of reneging on agreements with China over trade

NEW YORK, New York - It was the United States that went back on previously reached trade agreements, and not ...

Wall Street closes higher on Tuesday

NEW YORK, New York - U.S. stocks were sharply higher on Tuesday, particularly in the tech sector after the U.S. ...

Movie Review

Deathdream (aka Dead of Night) [Blu-Ray]