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

Mon, 20 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 Cardiff Star.

More Information

United Kingdom

Honeywell employee among four killed in light plane crash in Dubai

DUBAI, UAE - Honeywell International has confirmed one of its personnel was on board the small plane which crashed five ...

Amid border wrangles, Eritreans wrestle with staying or going

An unexpected rapprochement last year between Ethiopia and Eritrea, and the subsequent opening of the border, seemed to offer hope ...

UK keeps limits on cash aid in Syria over counter-terror fears

Despite criticism, the UK has only partially reversed a cash aid freeze in northeastern Syria and is still suspending monthly ...

Proteas depart for 2019 Cricket World Cup

Cape Town - And they're off!The Proteas have departed for the 2019 Cricket World Cup in England and Wales.Led by ...

ICC releases official 2019 CWC song

Cape Town - The ICC has released the official song of the upcoming 2019 Cricket World Cup in England and ...

Dwayne Johnson shares pictures from rehearsals of 'Jungle Cruise'

New Delhi (India), May 20 (ANI): Dwayne Johnson aka The Rock who recently wrapped up shooting for his upcoming film ...

International

At least 11 dead in mass shooting in northern Brazilian city

BELEM, Brazil - At least eleven people have been killed in a mass shooting in Brazil. Gunmen opened fire on ...

U.S. Navy Seal pleads guilty to causing death of colleague

WASHINGTON DC - A U.S. Navy SEAL who killed a Green Beret in extraordinary circumstances in the West African nation ...

Attack on UN mission in Mali which left peacekeeper dead condemned

BAMAKO, Mali - A violent attack in the West African nation of Mali on Saturday has left at least one ...

Report: GCC countries to host U.S. troops to counter Iranian threat

RIYADH, Saudi Arabia - A newspaper in Saudi Arabia in a report published on Saturday says the kingdom and other ...

Incumbent PM Scott Morrison snatches victory in Australian election

CANBERRA, Australia - In Australia, the Liberal-National Party Coalition has been re-elected in a shock result in which Labor lost ...

Report says Israeli PM pushing Trump to attack Iran

JERUSASLEM - Behind the continual hostility towards Iran by the United States, and the recent flare-up in tensions is lsrael, ...

Movie Review

Jacob's Ladder

jacob's ladder