Stock markets snap 9-day fall, Sensex gains 228 points

ANI
14 May 2019, 23:27 GMT+10

Mumbai (Maharashtra) [India], May 14 (ANI): Indian equity markets snapped a nine-day fall on Tuesday and closed in the green after erasing morning losses as European stocks opened higher.

Besides, low retail inflation in April at 2.92 per cent brought hopes of a key interest rate cut in June. Except IT, all sectoral indices closed in the positive zone.

The SP BSE Sensex was up 228 points to close at 37,319 while the Nifty 50 gained 74 points to wind up at 11,222.

Indiabulls Housing Finance was the top outperformer, gaining nearly 6.5 per cent to close at Rs 701.85.

Bharti Airtel too gained over 6 per cent and closed at Rs 338 after announcement of scrapping its low-valued post-paid plans to improve its average revenue per user (ARPU) and boost profitability.

But shares of Jet Airways fell 7.4 per cent to close at Rs 129.10 each after the company's chief financial officer resigned with immediate effect citing personal reasons.

Most IT stocks were in the red. Tech Mahindra, Tata Consultancy Services, HCL Tech and Wipro lost between 1.4 and 3 per cent.

Meanwhile, European shares bounced in early trading after US President Donald Trump said that he was optimistic about resolving the trade dispute with China.

Asian shares were mixed as China said it would impose higher tariffs on 60 billion dollars of US goods following Washington's decision last week to hike its levies on 200 billion dollars of Chinese imports. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Wisconsin Star.

More Information

International

Section

Tanaiste issues statement of condemnation over Palestinian evictions

DUBLIN, Ireland - Tanaiste and Minister for Foreign Affairs Simon Coveney has taken issue with Israel over the forced evacuations ...

The disappearance of Burundian reporter Jean Bigirimana

BUJUMBURA, BURUNDI - When a journalist we know walks through the streets of his hometown in Burundi, his neighbors often ...

Demolition of homes in Sur Baher could just be the start, UN warns

RAMALLAH, Palestinian territories - UN officials on Monday slammed the decision by the Israeli army to demolish a number of ...

Hundreds of Israeli soldiers and bulldozers begin demolitions

SUR BAHER, West Bank - The Israeli army has begun widespread demolitions in the West Bank on the edge of ...

Europe turning blind eye to humanitarian crisis, says MSF

NEW YORK, New York - The international medical humanitarian organization Doctors Without Borders/Medecins Sans Frontieres (MSF) is to resume lifesaving ...

Imran Khan welcomed to U.S. by 30,000 supporters

WASHINGTON, DC - Pakistan's Prime Minister Imran Khan who has arrived in the U.S. for a meeting with President Donald ...

US Sports

Section