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Sensex ends 85 points higher, Nifty closes above 11,680
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SME Times News Bureau | 17 Jul, 2019
Sensex and Nifty on Wednesday advanced for the third successive day
despite US President Donald Trump saying that a hike in tariffs on
Chinese products is still an option.
The Sensex closed 84.60 points higher at 39,215.64, while the Nifty closed 24.90 up at 11,687.50.
"The
market was range bound while bank nifty outperformed in expectation of
transfer of RBI reserves to the government. Q1FY20 is unlikely to
provide cheer to the investors due to risk of downgrade in FY20 earnings
given the muted expectation," said Vinod Nair, Head of Research, Geojit
Financial Services.
Nair added that the finance and cement
sectors are expected to be strong performers, while auto, metal and oil
and gas sectors are likely to underperform due to weak consumer demand,
lower realisations and slowdown in the global economy.
Spice Jet
closed nearly 8 per cent higher at Rs 141.95 apiece, while private
lender Yes Bank shed over 5 per cent to end at Rs 98.45 per stock ahead
of its quarterly results.
DCB Bank shares closed down 16.3 per
cent after the lender reported dismal set of earnings for the quarter
ended June 2019. Fall in credit growth, elevated provisions and weak
asset quality with rising slippages hit earnings in the June quarter.
Resurgent
trade tensions, concern over the outlook for corporate America and the
growing risk of a chaotic Brexit in the United Kingdom dampened appetite
for equities on Wednesday while keeping alive interest in the dollar
and government bonds, said Deepak Jasani of HDFC Securities.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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