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π¨π¨Daily News Analysis π¨π¨
- Sensex declines 160 points as Nifty finishes at 18,090; big losers include Bharti Airtel and Tech Mahindra.
The benchmark Sensex for India concluded the day at 61193.30 points, down 0.26 percent, while the Nifty 50 Index fell to 18089.85 points, down 0.32 percent.
- Nifty opened lower and traded in a narrow range throughout the day to close with a loss of 58 points at 18089 levels. Sectorially it was a mixed bag with FMCG being a major gainer. Sectors like aviation, FMCG cement, paints and tyres saw good momentum, benefitting from the fall in oil prices.
- On Wednesday, Hindustan Aeronautics' market worth for the first time exceeded Rs 1 lakh crore. The stock increased by over 3% during the day. Since March, the stock has increased by more than 16 percent, and so far this year, it has increased by about 19 percent.
π¨π¨Daily News Analysis π¨π¨
Closing Bell:
After opening with and upside gap of 60 points, the market made an attempt to move up in the early part of the session.
Nifty closes around 18,150, sensex up 240 points.
Coal India output rises 7.7% in April:
Coal India said it logged an impressive 31% growth YoY in overburden removal (OBR) in april.
Coal India output rises 7.7% in April; availability comfortable, power plants stocked
RBI likely buying dollars to absorb inflows:
The Indian central bank is likely buying dollars via state-run banks to prevent the rupee from appreciating in the wake of inflows, three traders told Reuters on Tuesday.
The Indian rupee was trading at 81.8275 per U.S. dollar, having reached 81.7325 earlier.
The long weekend inflows and the dollar offers from foreign banks are "once again running into a resolute" Reserve Bank of India (RBI), a trader at private sector bank said.
