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Sensex ends at record closing high; Nifty ends over 11,000 mark

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SENSEX-

Mumbai, July 12: The BSE Sensex settled at the highest ever closing level on Thursday at 36,548.41 points after touching an intra-day record high of 36,699.53 points.

Tracking broadly positive global cues, the wider Nifty50 on the National Stock Exchange also rose to end over the 11,000-mark.

Globally, the Asian markets traded in the green after reports on Wednesday said China and the US may resume talks to ease the ongoing trade tensions.

At 3.30 p.m., the Nifty50 provisionally closed at 11,023.20 points — higher by 74.90 points or 0.68 per cent — from its previous close of 10,948.30 points.

The barometer 30-scrip Sensex, which had opened at 36,424.23 points, closed higher by 282.48 points or 0.78 per cent at 36,548.41 points (3.30 p.m.). The previous close on Sensex was 36,265.93 points.

As mentioned, it touched an all-time high of 36,699.53 points during the intra-day trade and a low of 36,422.08 points. The BSE market breadth, however, was bearish with 1,472 declines against 1,169 advances.

The Indian rupee opened at Rs.68.76 per dollar, against its previous close of Rs.68.77.

The top gainers so far on the Sensex were Reliance Industries, Wipro, HDFC, Larsen and Toubro (L&T) and Hindustan Unilever whereas Vedanta, Infosys, Tata Motors (DVR), Mahindra and Mahindra (M&M) and Bajaj Auto were the losers.

On the NSE, Reliance Industries, BPCL and Bajaj Finance were the highest gainers while UPL, Vedanta and Bajaj Auto lost the most.

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Business

Domestic political uncertainty subdues equity indices

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Mumbai, July 18: Domestic political uncertainty in the wake of a no-confidence motion against the central government dragged the equity indices lower on Wednesday.

According to market observers, profit booking in mid-and-small-cap stocks also subdued the equity indices.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,980.45 points — lower by 27.60 points or 0.25 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,722.41 points, closed at 36,373.44 points — lower by 146.52 points or 0.40 per cent — from its previous session’s close of 36,519.96 points.

The barometer index fell after it touched a fresh all-time high of 36,747.87 points. The index had dipped to a low of 36,320.92 points during the intra-day trade.

On Tuesday — the previous trade session — both the indices had made gains on the back of a slide in global crude oil prices along with expectations of fund infusion into public sector banks.

IANS

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Business

Government increases sugarcane FRP to Rs 275

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Sugarcane

New Delhi, July 18: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a Rs 20 per quintal increase in the Fair and Remunerative Price (FRP) for sugarcane to Rs 275 for the 2018-19 season starting October.

“The cost of sugar production is estimated to be only Rs 155 per quintal against which we have decided to give FRP of Rs 275 per quintal. This is 77.42 per cent higher than the cost of production,” Law Minister Ravi Shankar Prasad told reporters here after the cabinet meeting.

The FRP is the minimum price legally guaranteed to farmers for sugarcane.

As per the estimates issued by industry body Indian Sugar Mills Association (ISMA), total sugar production in season 2018-19 starting October is expected to be 35-35.5 million tonnes.

Prasad said that the total remuneration for sugarcane to farmers for the year 2018-19 is estimated to be Rs 83,000 crore.

IANS

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Slide in crude prices lift indices; Nifty regains 11k-mark

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Mumbai, July 17: Slide in global crude oil prices along with expectations of fund infusion into public sector banks and value buying lifted the key domestic equity indices higher on Tuesday.

However, broadly negative Asian and European indices capped gains.

According to market observers, healthy buying was witnessed in banking, oil and gas, automobile and consumer durables stocks.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 11,008.05 points — higher by 71.20 points or 0.65 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,390.99 points, closed at 36,519.96 points — higher by 196.19 points or 0.54 per cent — from its previous session’s close of 36,323.77 points.

Sensex touched a high of 36,549.55 points and a low of 36,261.78 during the intra-day trade.

On Monday — the previous trade session — both the indices closed in the red due to a rise in wholesale inflation rate and broadly weak global cues.

IANS

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