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Sensex snaps 9-day long losing streak
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SME Times News Bureau | 14 May, 2019
The Sensex snapped its nine-day long losing streak on Tuesday to end
227.71 points higher. Except for IT, stocks of all other sectors ended
in the green.
Lower prices of manufactured items and key
transportation fuels eased India's annual rate of inflation based on
wholesale prices to 3.07 per cent in April from 3.18 per cent in March,
which helped sooth investors sentiments.
Scrips of Jet Airways
closed over 7.42 per cent lower after the resignation of the beleaguered
airline's deputy chief executive and chief financial officer (CFO) Amit
Agarwal.
"Short covering was seen in beaten down indices like
banks and pharma while IT continues to under-perform due to strength of
the rupee," said Vinod Nair, Head of Research, Geojit Financial
Services.
"Investors are not very aggressive in the market as
every rally will be used as an opportunity to book profit and remain
watchful on quarterly earnings and the election verdict," he added.
The
BSE Sensex jumped over 227.71 points, or 0.61 per cent, to 37,318.53
and the Nifty gained 73.85 points, or 0.66 per cent, at 11,222.05.
"Asian
shares started with losses on Tuesday amid a fresh deterioration in the
Sino-US tariff war, although comments from US President Donald Trump
that he expected trade negotiations to be successful helped stabilise
sentiments," 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
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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