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Erasing gains equity indices end flat; banking stocks fall

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Sensex
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Mumbai, July 13: Shedding all the gains made early in the day, the key Indian equity indices ended flat on Friday weighed down by heavy selling in banking, capital goods and healthcare stocks.

Although the market had opened on a positive note continuing the Thursday’s bull run, with the BSE Sensex touching a fresh all-time high of 36,740 points in the morning session, the indices could not hold on to the gains.

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 11,021.65 points — lower by 1.55 points or 0.01 per cent — from its previous close of 11,023.20 points.

The barometer 30-scrip Sensex on the BSE, which had opened at 36,635.14 points, closed at 36,541.63 points (3.30 p.m.) — down 6.78 points or 0.02 per cent — from its previous close of 36,548.412 points.

As mentioned, Sensex touched a record intra-day high of 36,740.07 points and a low of 36,501.61 points. The BSE market breadth was bearish with 1,824 declines and 813 advances.

The top gainers on the Sensex were Infosys, Bajaj Auto, Reliance Industries, Coal India and Asian Paints whereas ITC, Axis Bank, ONGC, State Bank of India (SBI) and ICICI Bank were the top losers.

On the NSE, Titan, BPCL and Bajaj Finance were the highest gainers while Zee Entertainment, UPL and Bharti Infratel lost the most.

IANS

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India’s wholesale inflation eases to 5.09% in July

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wholesale inflation

New Delhi, Aug 14: India’s annual rate of inflation based on wholesale prices eased to 5.09 per cent in July from a rise of 5.77 per cent in June, official data showed here on Tuesday.

The data on wholesale price index (WPI) furnished by the Ministry of Commerce and Industry showed that the rate of inflation had risen 1.88 per cent during the corresponding month in 2017.

IANS

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Rupee hits record low of 70.08 against US dollar

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India Rupee

New Delhi, Aug 14: Fears over a rise in global protectionist measures, along with a strong US economy, dragged the Indian rupee to a fresh intra-day low of over 70 against a US dollar during the pre-afternoon hours on Tuesday.

Around 11.00 a.m., the rupee plunged to 70.08 to a US dollar. However, soon afterward the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee’s free fall.

The intervention aided the rupee to stabilise just a tad below 70 to a USD at 69.98 around 11.05 a.m.

IANS

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Macro-data, global cues push equity indices higher

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SENSEX NIFTY MARKET

Mumbai, Aug 14: Positive macro-economic inflation data along with supportive Asian stock exchanges pushed the key indices of the Indian equity market higher during the morning trade session on Tuesday.

According to market observers, healthy buying was witnessed in banking, consumer durable and FMCG stocks.

Around 9.40 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 11,396.35 points — higher by 40.60 points or 0.36 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 37,749.59 points, traded at 37,790.70 points — higher by 145.80 points or 0.35 per cent — from its previous session’s close of 37,644.90 points.

Sensex has so far touched a high of 37,829.83 points and a low of 37,689.71 points during the intra-day trade.

ANI

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