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Sensex, Nifty end at record levels; realty stocks up
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SME Times News Bureau | 07 Nov, 2019
Despite weakness in the Indian economy, the equity markets continued to
hit record levels in expectation of a revival. Nifty Realty index jumped
by 0.88 per cent after Finance Minister Nirmala Sithraman, announced a
Rs 25,000 crore fund relief fund for distressed homebuyers.
The
benchmark Sensex closed at record level while the Nifty closed above the
critical 12,000 mark over improved global cues. The Sensex closed
183.96 points higher at 40,653.74 while the Nifty closed 50.05 points
higher at 12,016.10.
"Reforms and earnings are the market
drivers, the measures to support realty sector augers well for the
sector to outperform. The proposed measure will help to start the
recovery of stalled projects and can see a ripple effect in NBFCs, banks
and cement sector," said Vinod Nair, Head of Research, Geojit Financial
Services.
Besides the global markets have also gained after
China and US agreed to a phased removal of tariffs that has brightened
hope for a trade deal.
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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 02 Jun, 2020 |
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