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 International Technology.

More Information

null in null

Computers

Section

Apple allows outside payment links under EU pressure

SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...

Elite Women's Boxing Tournament: Lovlina Borgohain storms into semifinals

Hyderabad (Telangana) [India], June 29 (ANI): Olympic Games Tokyo 2020 medalist Lovlina Borgohain eased past Punjab's Krisha Verma...

Ankushita Boro, Nikhat Zareen advance to semi-finals at Elite Women's Boxing

Hyderabad (Telangana) [India], June 29 (ANI): Former youth world champion Ankushita Boro showcased her class on Day 2 of the Elite...

Raj Bhavan Annadhan scheme launched in Goa by Kerala Governor Arlekar

Panaji (Goa) [India], June 29 (ANI): The 'Raj Bhavan Annadhan' scheme was officially launched on Sunday at Old Durbar Hall, Raj Bhavan,...

China's TEDA transforms Egypt's desert into blooming industrial hub

CAIRO, June 28 (Xinhua) -- Sixteen years back, what is now the China-Egypt TEDA Suez Economic and Trade Cooperation Zone was nothing...

Forum highlights regional growth, attracts global partners in Xizang

LHASA, June 28 (Xinhua) -- International business leaders gathered at a forum in southwest China's Xizang Autonomous Region this week,...

Internet

Section

Canadian tax on US tech giants dropped after Trump fury

WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...

DeepSeek faces app store ban in Germany over data transfer fears

FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...

"This kind of behaviour is not in line with BJP's ideology": Aparajita Sarangi condemns assault on Bhubaneswar Municipal Corporation official

Bhubaneswar (Odisha) [India], July 1 (ANI): Bharatiya Janata Party (BJP) leader and Bhubaneswar MP Aparajita Sarangi on Monday condemned...