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 Myanmar Sun.

More Information

Southeast Asia

Section

14 dead after building collapses in Kumarhatt in India

SOLAN, Himachal Pradesh, India - As many as 14 people, including thirteen Army personnel were killed and 28 others injured ...

Widespread floods in Nepal lead to death and destruction

KATHMANDU, Nepal - Search and rescue operations are occurring across Nepal as the southeast Asian nation continues to be hit ...

Ten dead after extensive lightning strikes across Bangladesh

DHAKA, Bangladesh - Lightning has wreaked havoc across the southeast Asian nation of Bangladesh.At least ten people died on Saturday ...

South Asia monsoon leaves thousands in need

Monsoon floods and landslides sweeping through large swathes of South Asia have killed dozens of people and left hundreds of ...

Pompeo Hopes US, North Korea Can Be 'More Creative' in Nuclear Talks

WASHINGTON - U.S. Secretary of State Mike Pompeo said on Monday he hoped both North Korea and the United States ...

Pakistan Reopens Airspace To All Civilian Flights

Pakistan's aviation authority has announced the country's airspace has been completely reopened to civil aviation.'With immediate effect Pakistan airspace is ...