Share markets in India remained subdued in the afternoon session and finished flat ahead of UP state elections to be announced tomorrow. At the closing bell, the BSE Sensex stood higher by 17 points, while the NSE Nifty finished up by 8 points. Meanwhile, the S&P BSE Mid Cap finished flat and the S&P BSE Small Cap finished down by 0.1%. Gains were largely seen in IT stocks and capital goods' stocks.
Top gainers on the Sensex included Bharti Airtel, Infosys, ONGC, L&T and TCS.
Kotak Mahindra Bank share price finished in green (up 0.5%) after Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) can now invest from 40% to 42% of the paid up capital of Kotak Mahindra Bank, under the Portfolio Investment Scheme.
Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.48% and the Hang Seng rose 0.29%. The Shanghai Composite lost 0.12%. European markets are higher today with shares in France leading the region. The CAC 40 is up 0.49% while Germany's DAX is up 0.48% and London's FTSE 100 is up 0.39%.
The rupee was trading at Rs 66.68 against the US$ in the afternoon session. Oil prices were trading at US$ 49.47 at the time of writing.
According to a leading financial daily, ICRA in its latest report has said that higher oil and gold imports are likely to widen the current account deficit to US$30 billion or 1.2% of GDP in the fiscal 2017-18 from US$20 billion or 0.9% of GDP in 2017, arresting the trend of moderation recorded for four consecutive years since fiscal 2014.
Moving on to news from stocks in energy sector. Oil India Ltd share price finished the trading day on an optimistic note (up 2.8%) after the company signed a MoU with the University of Houston in a bid to augment its reserves base and maximize recovery from its ageing oilfields.
ONGC share price finished the day up by 0.9% on the BSE.
In another development, Manappuram Finance Ltd share price fell 4.5% & Muthoot Finance Ltd share price fell 3.9% after the Reserve Bank of India (RBI) said non-banking finance companies (NBFCs) cannot issue more than Rs 20,000 in cash against gold loans.
Read the complete Indian stock market update. For the terms of use, go here.
No comments:
Post a Comment