SME Times is powered by   
Search News
Just in:   • South Korea's current account surplus widens amid US tariff pressure  • SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore  • India will soon be world’s third-largest economy: PM Modi  • India’s chemical sector can reach $1 trillion by 2040, create 7 lakh jobs by 2030: NITI Aayog  • Intense talks continue to reach interim India-US trade deal ahead of deadline 
Last updated: 08 Apr, 2021  

BSE.9.Thmb.jpg Sensex sheds major gains, rupee continues to weaken

Bse.9..jpg
   Top Stories
» SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore
» Intense talks continue to reach interim India-US trade deal ahead of deadline
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
SME Times News Bureau | 08 Apr, 2021
As the resurgent Covid cases raise concerns of impact on economic recovery, key Indian equity indices shed their major initial gains to end marginally higher on Thursday.

Noting that equity markets gained for the third day in a row, Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that last hour selling in banking and financials capped the gains.

"Global markets were mixed after Federal Reserve's commentary reinforced that the central bank plans to maintain its policy support despite massive fiscal spending from the recent government stimulus package," he said.

The BSE Sense closed at 49,746.21, higher by 84.45 points, or 0.17 per cent, from its previous close of 49,661.76.

It had opened at 49,885.26 and touched an intra-day high of 50,118.08 and a low of 49,581.61 points.

The Nifty50 on the National Stock Exchange closed at 14,873.80, higher by 54.75 points, or 0.37 per cent, from its previous close.

Analysts were of the view that going ahead, Indian markets are likely to track global cues along with the earnings season which would kick start from next week and would keep markets volatile.

"Lot of stock specific action is likely to be witnessed due to this. We expect Q4 to be another strong quarter, aided by a deflated base of 4QFY20 and healthy demand recovery for the large part of 4QFY21 - as attested by high-frequency indicators. Performance is expected to be healthy despite headwinds of commodity cost inflation in various sectors," Khemka said.

However, concerns over the fast spreading second wave of Covid in India continues to remain.

Further, rupee also continued to depreciate on Thursday amid the rising concerns over the economic recovery.

It settled at 74.60 per dollar, against the previous closed of 74.55 per greenback.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter