Top Business Highlights October 9: Sensex closes over 600 points at 38,177 with surge in bank shares
Publish Date: Wed, 09 Oct 2019 05:59 PM IST
New Delhi | Jagran Biz Desk: At Jagran English Business Desk, we try to focus on top business trends to provide our readers key insight into financial news with brief coverage of the stock exchange, fuel prices, gold prices, among others.
Today our main focus is on the stock exchange and gold prices amid trade talks between US and China over Washington's decision to impose tariffs on Chinese products.
Here's how the markets fared today:
Equity markets closed on a positive territory with Sensex rising by 645 points to 38,177 points while Nifty surged 186 points to 11,313 following a surge in bank shares such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank, HDFC and IndusInd Bank ahead of second-quarter corporate earning results.
However, Yes Bank shares were down by 5.1 per cent at Rs 43.30. Hero Motocorp, Titan, Zee Entertainment, HCL Technologies and ITC also lost between 1.2 to 2.8 per cent.
Nifty 50: 11,313
Rupee: 71.02 per USD (flat)
Here's how the markets opened today:
The benchmark S&P Sensex opened on a higher note in early trade on Wednesday. It rose 0.10 per cent or 36 points higher at 37,568 points while Nifty opened flat at 11, 127 points as markets remain cautious amid growing uncertainty over US-China trade war and unabated fund outflows. Earlier, Sensex had closed at 37,151 points and Nifty at 11,126 on Monday. The equity markets were closed on Tuesday on account of Dussehra.
The rupee continued its losses from Monday. It depreciated by 9 paise to 71.11 against the US dollar in the opening session.
Rupee: 71.11 per USD
Fuel prices remained flat on Wednesday after witnessing six consecutive days ofprice cut.
Brent crude: USD 58.02 per barrel
Petrol: Rs 73.65per litre in Delhi
Diesel: Rs 66.97per litre in Delhi
Meanwhile, the Gold price rose higher for second consecutive days, it increased by 0.23 per cent to Rs 38,472 per 10 grams. The surge comes after the addition of Chinese companies to US trade blacklist ahead of trade talks between the two major economies. Among other precious metals, prices of Silver remained stable.
Gold: Rs 38,472 per 10 grams of pure gold.
Silver: Rs 48, 500 per kg
Posted By: James Kuanal