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Sensex down 222 points, breaks 8-day winning streak
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SME Times News Bureau | 22 Mar, 2019
The Sensex reversed early gains
and closed lower on Friday, as investors took to booking profit after
gaining for eight straight sessions. All sectors, except real
estate index, on the NSE ended in the red. The Nifty banking index which
touched an all-time high also succumbed to the overall decline.
Saurabh
Jain of SMC Global said that Friday's decline is rather healthy.
Investors booked profit after consecutive sessions of strong gain and we
expect it to continue for two-three more sessions.
The BSE Sensex closed 222.14 points lower at 38,164.61 while the Nifty declined by 64.15 points or 0.56 per cent.
"Domestic
market ended on a weak note as investors turned to profit booking given
the sharp rally in last two weeks and weak global cues. US Fed has
indicted that there will be no rate hike this year and ended its ongoing
Quantitative easing (QE) tightening program due to concern over
economic growth," said Vinod Nair, Head of Research, Geojit Financial
Services.
"Besides, uncertainties over Brexit deal and delay in trade deal between US-China continued to impact global markets."
Nair
also added that global bond yields were on decline as global central
banks were tweaking their monetary policy to support growth. This is
likely to benefit emerging markets like India in the medium term.
The
Sensex pack saw Tata Motors (DVR) losing the most followed by Tata
Motors, Reliance Industries, Maruti Suzuki and State Bank of India
declining in the range of 1 to 3 per cent.
The top gainers were
NTPC, up 3.67 per cent followed by Larsen and Toubro (L&T), Asian
Paints, Tata Steel and Power Grid, which advanced up to 1.60 per cent.
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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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