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Sensex drops over 100 points, bank stocks drag
Posted on 23rd July 2019
Domestic equity benchmark BSE Sensex fell below the 38,000 mark, shedding nearly 100 points in early trade, on July 23 amid heavy foreign fund outflow and weak domestic cues.

The 30-share index was trading 103.50 points or 0.27% lower at 37,927.63 at 0930 hours; and the broader Nifty also fell 28.50 points or 1.25 per cent to 11,317.70.

In the previous session, the 30-share index cracked 305.88 points or 0.80% to settle at 38,031.13, and the broader NSE Nifty sank 82.10 points 0.72% to close at over two-month low of 11,337.15.

In early trade, Yes Bank and HDFC duo were the top losers, slipping up to 2.47%.

Bajaj Auto, Tata Motors, SBI, L&T, IndusInd Bank, M&M, ICICI Bank and RIL too fell up to 1.56%.

On the other hand, Kotak Bank, Infosys, Bharti Airtel, PowerGrid, Axis Bank, Hero MotoCorp, Bajaj Finance and NTPC rose up to 1.75%.

According to experts, market has entered a bearish phase amid concerns over an economic slowdown and weak corporate earnings.

Heavy foreign fund outflow and weak monsoon is also hurting investor sentiment here, they said.

On a net basis, foreign institutional investors sold equities worth ₹1,916.91 crore, while domestic institutional investors purchased shares to the tune of ₹1,829.90 crore, provisional data available with stock exchanges showed on July 22.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading in the green in their respective early sessions.

Equities on Wall Street too ended on a positive note on July 22.

Meanwhile, the Indian Rupee depreciated 10 paise (intra-day) to 69.03 against the U.S. Dollar.

The global oil benchmark Brent crude futures were trading marginally higher at 63.33 per barrel.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
Former Union minister Arun Jaitley passes away at 66
Posted on 24th August 2019
New Delhi: Former Union Minister and senior BJP leader Arun Jaitley passed away at the All India Institute of Medical Sciences (AIIMS) at 12:07 pm on Saturday after battling months of ill health.

"It is with profound grief that we inform about the sad demise of Shri Arun Jaitley. Honourable Member of Parliament and former finance minister, government of India at 12:07 pm on 24 August, 2019," the AIIMS statement read.


ISRO tech to detect illegal sand mining, augment water in forests: Govt
Posted on 24th August 2019
Plans are afoot to detect illegal sand-mining across the country with the help of ISRO satellites and also augment water and fodder in forest areas to prevent man-animal conflict, Union Environment and Forest Minister Prakash Javadekar said Saturday.

The government plans to use satellite image technology by ISRO (Indian Space Research Organisation) to map every area and river to check illegal sand-mining.


MSMEs to get pending GST refunds within 30 days: Nirmala Sitharaman
Posted on 24th August 2019
The government on Friday unleashed a series of reforms — from payment of all pending goods and services tax (GST) dues in 30 days to easier borrowing norms — for the struggling micro, small and medium enterprises (MSME) sector.

Facing a severe liquidity crisis since demonetisation in 2016, the MSME sector had repeatedly made several demands.


PMO's suggestion to NHAI: Stop building roads, sell assets through an InvIT
Posted on 24th August 2019
The NHAI should discontinue constructing roads and encourage the private sector to take over the running of completed projects. These are two of the key suggestions that the Prime Minister’s Office has made to the National Highways Authority of India (NHAI).

In a letter dated August 17, Nripendra Misra, Principal Secretary to the Prime Minister, wrote to Sanjeev Ranjan, Secretary, Ministry of Road Transport and Highways, collating suggestions to improve the operational performance of NHAI.


Frankfurt Motor Show: The future of Hyundai’s electric vehicle design
Posted on 24th August 2019
At the forthcoming IAA Frankfurt Motor Show (September 10-22), Hyundai Motor will display the company’s focus towards the future direction of car design. Inspired by looking back at the brand’s first model in the 1970s, the ‘45’ fully-electric concept car will act as a symbolic milestone for Hyundai’s future EV design.

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