Afternoon D & C Dedicated To Mumbai
Home > Business > Markets breathe easy after 7 days; earnings, global cues lift mood

Markets breathe easy after 7 days; earnings, global cues lift mood

Friday, February 09, 2018

Domestic equities yesterday heaved a sigh of relief after corporate earnings and Asian markets optimism broke the seven-day losing streak, with benchmark indices Sensex and Nifty ending in the green.

The BSE flagship index Sensex jumped over 330 points, or 0.97%, to close at 34,413.16 -- its biggest single- session gains in two weeks. The 30-share pack had lost 2,200.54 points in the last seven sessions amid negative domestic and global cues.

The NSE Nifty too recovered over 100 points, or 0.96%, to end at 10,576.85.

An emergence of value-buying in recently battered banking counters as also pharma and IT stocks revived optimism on domestic bourses.

Also, investor sentiments got a boost from improved outlook on economic growth and falling crude prices.

Brent crude futures tumbled to a six-week low of USD 65.16 per barrel. A fall in crude prices is seen as positive for India, which imports most of its oil requirements.

"Domestic earnings positivity and optimism in Asian peers led Indian market higher after RBI’s status quo stabilised markets. However, investors will continue to keep a watchful eye on global volatility, with Europe continuing to see vulnerability ahead of BOE rate decision," Anand James, Chief Market Strategist, Geojit Financial Services Ltd, said.

The Reserve Bank yesterday projected growth rate at 7.2% for the next financial year as the rollout of GST stabilises and credit offtake improves.

In its 6th bi-monthly policy review, the RBI yesterday maintained its status quo on the policy front, retaining the repo rate at 6% and the reverse repo at 5.75%.

The Sensex yesterday resumed higher at 34,208.11 and traded between a high of 34,634.35 and a low of 34,108.76 before ending at 34,413.16.

Similarly, the Nifty closed above the key 10,550-level at 10,576.85, up 100.15 points. It shuttled between a high of 10,637.80 and low of 10,479.55.

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
After multiple raids were conducted nationwide in
Regardless of the assumption that electronic mete
BJP has no choice but to go in ...
We got married recently. I am 32 and my wife is 3
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Applications made for a job will bring favorable response. Students will do very well in their written tests or interviews. Business people who may have been anxious about the falling profits will find new avenues to revive their sagging business. Grab the opportunity when it comes along. Plans for a quick get away with your beloved or mate is a good idea and a great possibility. It will give you quality time together.
- Advertising -
With JEE Main round the corner, students are gear
Women who start their own business often find the
Adding sports in your resume allows your personal
Read More