March 19, 2019 Latest News Aggregator

Sensex Rises Over 90 Points As Markets Recover Early Losses: 10 Things To Know

Domestic stock markets recovered early losses shrugging off weakness in Asian peers. The Sensex rose as much as 90.41 points to touch 36,154.22, and the Nifty moved to 10,895.75, up 32.25 points from the previous close. Advances in auto, metal and energy stocks outweighed weakness in information technology counters. Meanwhile, the rupee edged higher to 70.81 against the US dollar in early trade, from its previous close of 70.92 against the greenback.

At 11:14 am, the Sensex traded 65.57 points higher at 36,129.38 while the Nifty was up 27.65 points at 10,891.15.

Top gainers on the 50-scrip benchmark index at the time were Tata Motors, Indiabulls Housing Finance, Hindustan Petroleum, Bharat Petroleum and Hero MotoCorp, trading between 3.16 per cent and 8.87 per cent higher.

Activity in the country’s services sector likely accelerated, with the Nikkei/IHS Markit Services Purchasing Managers’ Index rising to 52.5 in February from January’s 52.2.

That marked a reading above the 50 mark – indicating growth – for a ninth straight month. The likely pickup was partly due to an increase in domestic new business which induced firms to maintain a solid hiring pace.

On the other hand, the Nifty IT – a sectoral index on the National Stock Exchange comprising IT counters – fell as much as 0.75 per cent. Heavyweights Tata Consultancy Services (TCS) and Infosys declined as much as 0.75 per cent and 0.82 per cent respectively.

Equities in other Asian markets stepped back on Tuesday with MSCI’s broadest index of Asia-Pacific shares outside Japan dipping 0.2 per cent and Japan’s Nikkei falling 0.3 per cent. China cut its growth target for this year to 6.0 from 6.5 per cent, in line with expectations, and pledged measures to support the economy amid growing challenges from rising debt, and a trade dispute with the US.

The US trade chief’s office said that Washington intends to scrap the preferential trade status granted to India and Turkey. India has failed to provide assurances that it would allow required market access, while Turkey is “sufficiently economically developed” that it no longer qualifies, it added.

The Sensex added 0.54 per cent and the Nifty climbed 0.67 per cent in the past week. During this period, official data showed the country’s GDP growth slowed to 6.6 per cent in the quarter ended December 31, 2018, the slowest rate recorded since the quarter ended September 2017.

Read: After ‘Berlin Patient’, London Man Becomes Second to be Cured of HIV

Even as the global economy will further weaken in 2019 and 2020, India’s economy will grow at 7.3 per cent in both the calendar years as it is less exposed to the global slowdown, according to US-based ratings agency Moody’s.
Pointing at downside risks to global growth and slowing of the monetary policy normalisation in 2019, it said the world economy weakened significantly in the fourth quarter of 2018 and will continue to weaken throughout 2019 and 2020.

in Market
Related Posts

Life Biosciences appoints Dr. Mehmood Khan as CEO

March 5, 2019

March 5, 2019

Life Biosciences Inc. has announced Dr. Mehmood Khan, former PepsiCo Vice Chairman and Chief Scientific Officer, is incoming Chief Executive...

Bharti Airtel Board Approves Plan To Raise Rs. 32,000 Crore

March 1, 2019

March 1, 2019

MUMBAI: Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising up to Rs. 32,000...

Gold slips below Rs 34,000 on weak global cues

March 2, 2019

March 2, 2019

New Delhi, Mar 2 (PTI) Gold prices fell by Rs 310 to Rs 33,770 per 10 grams at the bullion...

Ravneet Gill takes charge as Yes Bank MD, CEO

March 2, 2019

March 2, 2019

New Delhi, Mar 1 (PTI) Yes Bank Friday said Ravneet Gill has taken charge as its MD and CEO with...

Renault’s new CEO reiterates commitment to alliance partnership

March 5, 2019

March 5, 2019

PARIS (Reuters) – Renault’s new CEO, Thierry Bollore, reiterated on Tuesday that all the parties in the Renault-Nissan-Mitsubishi alliance were...

Sensex turns negative, falls over 50 points in cautious trade; Nifty trades below 10,800-mark

February 28, 2019

February 28, 2019

Mumbai: Reversing its initial recovery, the benchmark BSE Sensex slipped into the negative terrain in afternoon trade on Thursday amid...

Jet Airways Founder Naresh Goyal Agrees To Step Down As Chairman: Report

March 1, 2019

March 1, 2019

Jet Airways’ founder Naresh Goyal has agreed to step down as chairman of the airline’s board, two sources with direct...

Crude oil prices to trade firm on falling oil supply

March 2, 2019

March 2, 2019

Precious metals closed the week with negative gains after the US reported strong economic data leading to a strong dollar....

Prashant Nagre, CEO, Fermenta Biotech receives Best CEO of the Year Award

March 5, 2019

March 5, 2019

The Pride of Maharashtra Award 2018 was presented by Dr Raghunath Mashelkar, President, Global Research Alliance & Former Director General,...

Sensex, Nifty Erase Gains As IT, Auto Shares Fall Ahead Of F&O Expiry

February 28, 2019

February 28, 2019

Domestic equity benchmarks erased intraday gains as selling pressure in information technology and auto heavyweights outpaced gains in power and...

Glenmark announces Q3 FY 2019 results

March 5, 2019

March 5, 2019

Glenmark Pharma has announced its financial results for the third quarter ended December 31 of the financial year 2018-19. In...

Growth In India’s Housing Prices Likely To Slow To 1.3% This Year: Poll

March 5, 2019

March 5, 2019

Housing prices in India will barely rise this year as a slowing economy and a liquidity crisis keep buyers on...

Merck gets Canadian CRISPR Nickase Patent

March 5, 2019

March 5, 2019

Merck, a leading science and technology company and leader in genome editing has announced that the Canadian Patent Office has...

Sensex Jumps Over 250 Points, Nifty Hits 10,870

March 1, 2019

March 1, 2019

Domestic stock markets started Friday’s session on a strong note tracking gains in Asian peers, a day after official data...

Wockhardt receives USFDA nod for Prostate Cancer Drug

March 1, 2019

March 1, 2019

Pharmaceutical and biotechnology major Wockhardt has received approval from the United States Food & Drug Administration (US FDA) for an...