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Equities recover previous losses led by gains in media, realty, metal stocks
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SME Times News Bureau | 20 May, 2022
Domestic equity benchmark indices erased all its losses they witnessed
in the previous session to close sharply higher on Friday.
China's cutting of its key lending rate also supported the indices back home.
In
a bid to stimulate economic activity hit by the latest outbreak of the
Covid, the Chinese central bank cut the five-year prime rate by 15 basis
points to 4.45 per cent.
All the Nifty sectoral indices were
sharply higher on Friday, with Nifty realty, media, and metal rising the
most. They rose 4.2 per cent, 4.5 per cent, and 4.2 per cent,
respectively.
On Friday, Sensex closed at 54,326 points, up 1,534
points or 2.9 per cent, whereas Nifty was at 16,266 points, up 457
points or 2.9 per cent.
On Thursday, Indian equity benchmark indices took a sharp cut in line with weakness in the US markets.
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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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| Daily Poll |
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| PM Modi's recent US visit to redefine India-US bilateral relations |
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