Equity indices in green, Tata Steel gains 3.4 pc

ANI
14 Aug 2019, 10:48 GMT+10

Mumbai (Maharashtra) [India], Aug 14 (ANI): Equity benchmark indices were in the positive zone during early hours on Wednesday led by a rally in global stock markets and after retail inflation data boosted chances of another interest rate cut.

At 10:15 am, the BSE SP Sensex was up 101 points at 37,060 while the Nifty 50 edged higher by 41 points to 10,967. At the National Stock Exchange, sectoral indices were mixed with Nifty pharma down by 3.2 per cent. Nifty auto, FMCG and IT too were in the red.

Among stocks, Tata Steel gained by 3.4 per cent to trade at Rs 360.65 per share. Hindalco and Vedanta too gained by 3.1 per cent each. The other prominent gainers were GAIL, UPL, Hero MotoCorp, Bharat Petroleum Corporation and IndusInd Bank.

But pharma stocks were on slippery ground with Dr Reddy down by 5.8 per cent, Sun Pharma by 5.7 per cent and Cipla by 1.3 per cent. Wipro, Coal India, Power Grid and ONGC also shed gains by over 1 per cent.

Meanwhile, Asian indices opened in the green following a rally overnight in US markets where President Donald Trump extended the imposition of proposed trade tariffs on China. This saw oil prices rise sharply and energy stocks rallied along with short covering in financials.

The surge in US stocks lifted MSCI's broadest index of Asia Pacific shares outside Japan by 0.9 per cent. The Shanghai Composite Index advanced by 0.6 per cent while Hong Kong's Hang Seng rose by 0.5 per cent.

South Korea's KOSPI also advanced by 0.8 per cent and Japan's Nikkei rose by 0.6 per cent.

(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 Malaysia Sun.

More Information

null in null

Southeast Asia

Section

Family of missing Baloch resident calls for urgent intervention for his safe return

Balochistan[Pakistan], March 8(ANI): The family of Zulfiqar Ali Marri, a resident of Kohlu district in Balochistan, has urged authorities...

WHO emphasises on rights, equality and empowerment on International Women's Day

New Delhi [India], March 8 (ANI): On the occasion of International Women's Day, the World Health Organisation on Saturday called for...

Social media storm throws cat owners in Kashmir into tizzy

SRINAGAR, INDIA — Viral social media posts threw cat lovers in Indian-controlled Kashmir into a tizzy. Panic spread and local veterinarians...

US arrests suspect linked to 2024 Moscow terrorist attack

Mohammad Sharifullah, a member of ISIS-K, has been linked to the deadly assault on the Crocus City Hall concert venue in Russia ...

Champions Trophy 2025: Tickets for final between India, New Zealand at Dubai sold out

Dubai [UAE], March 8 (ANI): The International Cricket Council (ICC) Champions Trophy 2025 final between India and New Zealand, scheduled...

Gautam Adani expresses gratitude to Women Envoys for visit to Adani Renewable Energy Park

Ahmedabad (Gujarat) [India], March 8 (ANI): Adani Group Chairman Gautam Adani expressed his gratitude after hosting nine women ambassadors...

Business

Section