Business, Market, 23rd May 2019, News & Stories from India

Friday, May 03, 2024 | Last Update : 03:01 AM IST

Business Market 23 May 2019

Business, Market, 23 May 2019

In line with weaker rupee on Thursday, the benchmark BSE Sensex erased early gains to end 299 points lower.

Rupee pares gains, settles 36 paise down at 70.02

At interbank foreign exchange, rupee opened at 69.45 a dollar and gained to touch a high of 69.37.

23 May 2019 8:00 PM

The 30-share index zoomed over 2 per cent to hit an intra-day high of 40,000 on Thursday.

Sensex sheds 298.82 to close at 38,811; Nifty shrinks to 11,650

Sensex and NSE Nifty went on to record highs even as Lok Sabha election results showed that PM Modi-led NDA leading on over 300 seats.

23 May 2019 4:17 PM

Globally, spot gold was trading marginally higher at USD 1,276 an ounce, while silver was slightly up at USD 14.53 an ounce in New York. (Representional Image)

Silver up on increased offtake; gold steady

Traders said silver prices rose on pick-up in offtake by industrial units and coin makers at the local spot market.

23 May 2019 3:35 PM

From the Sensex pack, 25 scrips were trading with gains led by Yes Bank, IndusInd Bank, L&T, SBI, ICICI Bank, Kotak Bank and RIL. (Photo: Representational)

Investor wealth zooms Rs 2.87 lakh cr as market hits record high

Nearly two hours into counting, television channels on Thursday showed India's ruling NDA leading in more than 300 seats.

23 May 2019 1:08 PM

Top Sensex gainers in morning trade include IndusInd Bank, SBI, L&T, PowerGrid, Yes Bank, Kotak Bank, ICICI Bank, RIL, HDFC, Bharti Airtel and Axis Bank, rallying up to 7 per cent.

Sensex, Nifty hit record highs as early trends hint at NDA win

According to traders, investor sentiment was boosted by initial trends that suggested a win for the ruling NDA.

23 May 2019 9:58 AM

Foreign fund outflows however dampened the sentiment of forex traders.

Rupee rises 26 paise to 69.40/USD in early trade ahead of Lok Sabha poll outcome

Forex traders said, besides polls outcome, easing crude prices and higher opening in domestic equities supported rupee.

23 May 2019 9:48 AM

On Monday, the Sensex zoomed over 1,422 points and the Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections.

Sebi steps up surveillance to check markets on elections results day

Markets are likely to witness significant movements on Thursday, especially after a rally on Monday following exit polls.

23 May 2019 8:17 AM

The market ended with moderate gains on Wednesday, the day before the counting votes of the general elections.

Expect a volatile day in market

The Sensex rose 140 points or 0.36 per cent to close at 39,110, while the Nifty gained 29 points or 0.25 per cent to end at 11,738.

23 May 2019 3:31 AM

Ahead of the big event, the volatility index, India VIX, jumped to a four-year high to 30.18, indicating high volatility ahead in the equity market on Thursday.

Stock market readies for roller-coaster ride

The predicted rise is much smaller than the 15 per cent stock market surge in the first six months after Modi came to power in 2014.

23 May 2019 3:18 AM

Sectors like fast moving consumer goods (FMCG), auto, consumer staples were the worst hit from sluggish rural demand and a general slowdown in consumption.

Earnings season disappoints again

Overall, the market was hoping for a 20 per cent growth in earnings but the results have come below expectation.

23 May 2019 2:53 AM

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Sanjeev Ahluwalia