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: 14 Aug, 2019  

BSE.9.Thmb.jpg Sensex gains 353 pts on US tariff delay

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 | 14 Aug, 2019
Stock markets globally saw major recovery on Wednesday after the US surprisingly put on hold the 10 per cent import tariff on Chinese products it had announced earlier, which had ever since roiled the global financial markets.

Sensex surged as much as 515 points before settling 353.37 points higher at 37,311.53. The broader Nifty jumped by 103.55 points, or 0.95 per cent, to 11,029.40. The rupee also gained 12 paise against the US dollar to close at Rs 71.27 per dollar.

A sharp fall in prices of safe-haven assets like gold was also seen. The prices of the precious metal had jumped significantly over the escalation of the trade tension.

"Nifty rose on Wednesday, pulled up by gains in cyclicals including metals, cement, auto, oil & gas and select financials. Delaying of tariffs on some Chinese imports by the US has raised hopes of improvement in the economic growth scenario globally," said Deepak Jasani of HDFC Securities.

"Select pharma stocks came under profit post their results announcements and regulatory development," he added.

After opening strongly in the positive, the Asian markets gave up some of their gains after China reported weak factory data.

Growth of China's industrial output slowed much more than expected to 4.8 per cent in July from a year earlier.

European markets, however, opened lower after a contraction for the export-reliant German economy in the second quarter.
 
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