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Sensex ends lower for ninth consecutive day
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SME Times News Bureau | 19 Feb, 2019
Major indices Sensex and Nifty fell for the ninth consecutive trade
session on Tuesday after heavy selling in the final hour of the trade on
account of profit booking.
Initially investor sentiments were
upbeat owing to the transfer of interim dividend from the RBI to the
government and a possibility of easing trade tension as a new round of
trade talks between the US and China are set to begin.
However,
other factors like high crude oil prices in the range of $66-67 per
barrel, weak rupee and continued tensions between India and Pakistan
capped the gains.
"Though the amount is not huge but it is a
breather for the government keeping in mind the fiscal deficit. Markets
rejoiced as the RBI dividend will make way in the markets through
welfare spending which will in turn boost rural consumption," Saurabh
Jain, AVP, SMC Global, told IANS.
Also, a sharp decline in IT
stocks, closing over 2 per cent lower, dragged the markets which
analysts said was the result of profit booking.
"Market opened on
a positive note as transfer of interim dividend from RBI helped the
indices to rebound after days of correction. However, the reversal was
short-lived due to mixed global market and investor strategy to book
profit on every rally," said Vinod Nair, Head of Research, Geojit
Financial Services.
"Albeit, rate sensitive sectors stand positive due to the stimulus measures from RBI and reforms by the government."
The
BSE Sensex closed 145.83 points or 0.41 per cent lower at 35,352.61
from its previous close of 35,498.44 while the Nifty settled at 36.60
points lower at 10,604.35.
Top Sensex gainers was led by Vedanta
which jumped over 3 per cent followed by ICICI Bank, ONGC, Mahindra and
Mahindra and Larsen and Toubro.
TCS declined by 3.39 per cent, the most on Sensex, followed by NTPC, IndusInd Bank, IndusInd Bank, Infosys and HeroMoto Corp.
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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 13 Aug, 2022 |
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