RSS Sensex, Nifty Extend Losses For Fifth Day

Currently reading:
 RSS Sensex, Nifty Extend Losses For Fifth Day

Status
Not open for further replies.

Crax Bot

Staff member
Administrator
Amateur
LV
0
Joined
Nov 5, 2021
Threads
6,211
Likes
1,916
Credits
32,784©
Cash
0$
On Friday, Indian stocks opened lower, continuing to fall for the fifth consecutive day. This decline stems from concerns over U.S. President-elect Donald Trump's possible fiscal, trade, and tariff policies, which could influence the Federal Reserve’s decision to halt its rate-cutting trajectory.

In the early morning trading, the S&P/BSE Sensex dropped by 292 points, or 0.4%, landing at 78,825. Similarly, the NSE Nifty index saw a decrease of 67 points, or 0.3%, reaching 23,884.

Leading the losses, companies such as Larsen & Toubro, UltraTech Cement, JSW Steel, Tech Mahindra, and Axis Bank experienced declines between 1 and 2 percent.

Conversely, Acme Solar saw a 2% increase following the successful commissioning of a 1,023 MW solar power project in Rajasthan. Tata Consumer Products appreciated close to 1%, as the company refuted rumors that coffee chain operator Starbucks was contemplating an exit from the Indian market.

Amara Raja Energy & Mobility recorded a modest gain of 0.5% after Hyundai Motor India announced it would utilize Amaron batteries in its upcoming vehicles. On the downside, DOMS Industries slipped around 1% after its Italian promoter, FILA Group, divested a 4.6% stake in the company valued at Rs 798 crore.

In some positive news, Indian Oil Corporation rose by 0.5% after revealing plans to invest Rs 21,000 crore in expanding its Bihar refinery capacity.

Lastly, SpiceJet fell 2% following the resolution of a financial dispute with aircraft lessor Genesis concerning the settlement of a $16 million debt.

The material has been provided by InstaForex Company - www.instaforex.com
 
Status
Not open for further replies.
Tips
Top Bottom