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

Sun, 21 Jul 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 Tampa Star.

More Information

International

Islamic Revolutionary Guards Corps capture British tanker

TEHRAN, Iran - Iran has seized a British Oil tanker in the Strait of Hormuz, apparently in retailiation for Britains ...

UN hailed astronauts as 'three great pioneers'

NEW YORK, New York - As the world remembers Saturday's 50th anniversary of the "giant leap for mankind" made by ...

Smith Advertising a virtual ponzi scheme, says FBI

TAMPA, Florida - In the United States, an elderly man in a wheelchair lost more than $100,000. A woman lost ...

19-year old stole 4 cars in 24 hours in NSW Central West

DUBBO, Central West, NSW, Australia - A 19-year old youth appeared in court in the Central West of New South ...

Major casualties as 2 car bombs explode outside police HQ in Kandahar

KANDAHAR, Afghanistan - At least a dozen people were killed and and around ninety were wounded on Thursday when two ...

Millions of children impacted by severe flooding in Asia

SOUTHEAST ASIA - Heavy rainfall, severe flooding and landslides across Nepal, India and Bangladesh have killed at least 93 children, ...

Business

UAE leads Middle East in wooing China

ABU DHABI, UAE - Whilst the United States and China are at odds, impacting the economies of both countries, as ...

U.S. dollar in sharp recovery, stocks fall

NEW YORK, New York - Stocks in the U.S. defied the global trend on Friday and lost ground. Markets elsewhere ...

Publishing group announces 135 new tech jobs in Waterford, Ireland

WATERFORD, Ireland - The Agora Companies, the global publishing consortium, are to increase their workforce in Ireland by the creation ...

In Tokyo, Nikkei 225 rises by 420 points

SYDNEY, Australia - Stocks soared in Asia on Friday, while the U.S. dollar rebounded from sharp falls in New York.In ...

Education the biggest growth sector in UAE job postings

DUBAI, UAE - The United Arab Emirates has registered an impressive 18 percent growth in online job postings compared to ...

U.S. stock markets close slightly higher, dollar drops sharply

NEW YORK, New York - U.S. stocks were slightly higher on Thursday with the main action on foreign exchange markets ...

Movie Review

Life (2017)