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Market closes at record levels, ignoring high inflation
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SME Times News Bureau | 14 Jan, 2020
The benchmark Sensex on Tuesday closed at an all-time high of 41,952 as
the US and China were scheduled to sign a partial trade deal later this
week.
Sensex touched an intra-day high of 41,994.26 despite retail inflation rising to its highest in over 5 years in December.
After
the CPI jumped to a 5 year high, the WPI data released on Tuesday
showed that sharp uptick to 2.59 per cent in December from 0.58 per cent
in November.
Sensex's closing at 41,952.63 was higher by 92.94 points while the broader Nifty settled at 12,362.30, up by 32.75 points.
Vinod
Nair of Geojit Financial Services said: "Market is moving ahead,
ignoring the sudden jump in CPI with an optimistic view on the budget
and earnings growth visible in the on-going Q3 results."
Yes Bank
closed 8.43 per cent lower at Rs 38.55 after falling as much as 13 per
cent intra-day owing to prolonged uncertainty over its capital raising
plan.
While the Nifty Bank declined 0.3 percent and Nifty Realty
fell 0.1 percent, Nifty Media rose the most, up 2 percent, while Nifty
FMCG rose 1.4 percent.
Global markets were upbeat after the US
said China would no longer be designated a currency manipulator, in a
sign of easing trade tension between the two economies.
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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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