SME Times is powered by   
Search News
Just in:   • Arun Jaitley passes away  • Samsung Galaxy M30s with 48MP camera in India next month  • Johnson, Trump speak ahead of G7  • Facebook downplayed Cambridge Analytica data scandal  • Google cracks whip on political debates at workplace 
Last updated: 13 Aug, 2019  

BSE.9.jpg Sensex tanks 623 pts despite RIL's 10% surge

Bse.9..jpg
   Top Stories
» Arun Jaitley passes away
» Spectacular opening to WorldSkills Kazan 2019
» MSMEs, startups get relief as Govt announces support measures
» Amid FPI sell-off govt withdraws enhanced surcharge
» Exporters hail initiatives to propel economy
SME Times News Bureau | 13 Aug, 2019
Indian markets on Tuesday sharply declined in line with sell-off in global markets after massive protests in Hong-Kong, heightened trade-tension between US and China and weakening of the Indian Rupee.

Financial markets globally reacted to the risk posed to Hong Kong's economy, home to global multi-national companies, by the anti-government mass protests.

Besides, global crackdown due to political uncertainty in Argentina and Italy also impacted the market.

Even the best-in-a-decade performance by Reliance Industries could not save the day for Sensex which closed 623 points lower. The country's second-largest company by market cap closed nearly 10 per cent higher on the BSE after it announced several investor-friendly deals and plans in its Annual General Meeting (AGM) on Monday.

Auto companies bled on Tuesday after the monthly sales data by Society of Indian Automobile Manufacturers (SIAM) showed continued stress on the industry.

The passenger vehicle sales for the month of July declined by 31 per cent while the sales of commercial vehicle -- a popular indicator of the health of the economy -- slipped by 25 per cent.

TVS Motors, Maruti Suzuki, Eitcher Motors, Mahindra and Mahindra, Bosch Limited, Bharat Forge Limited and Motherson Sumi Systems fell in the range of 5 to 8 per cent.

The Sensex tanked by 623.75 points or 1.66 per cent to 36,958.16 while the Nifty dropped by 183.80 points or 1.65 per cent to 10,925.85.

"Indian markets have been tagging-along global markets in palpable risk-off sentiment due to multiple challenges of intensification of US-China trade war, sell-off in Argentina and Hong Kong markets, said Jagannadham Thunuguntla of Centrum Broking Limited.

"Sell-off is all pervasive across the sectors fuelled by less-than-inspiring Indian corporate results and a weakening rupee," Thunuguntla added.




 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 24 Aug, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» Calicut University Collaborates with ACCA(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter