Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Sensex Soars 793 Points to Close at 3-Month High After FPI Surcharge Rollback; Nifty Reclaims 11,000

Among the prominent gainers were Yes Bank, Adani Ports, Indiabulls Housing Finance, HDFC and HDFC Bank. However, steel majors were down with JSW Steel showing a loss of 3 per cent, Vedanta by 1.82 per cent and Tata Steel by 1.81 per cent.

News18.com

Updated:August 26, 2019, 4:49 PM IST
facebookTwitterskypewhatsapp
Sensex Soars 793 Points to Close at 3-Month High After FPI Surcharge Rollback; Nifty Reclaims 11,000
File photo: People walk past a bronze replica of a bull at the Bombay Stock Exchange (BSE) building in Mumbai. (Reuters)
Loading...

New Delhi: Clocking the biggest single day gain in three months, markets erased early losses as the Sensex surged over 700 points in the afternoon and closed at 793 points after US President Donald Trump said China had contacted US trade officials overnight to say they wanted to return to the negotiating table.

Besides Trump's announcement, the withdrawal of surcharge proposed in the Budget on foreign portfolio investors by Finance Minister Nirmala Sitharaman on Friday and the measures announced last week to prop-up the economy worked in favour of the markets.

At closing, the BSE S&P Sensex was up by 793 points at 37,494 while the Nifty 50 edged higher by 228 points to 11,057.

At the National Stock Exchange, all sectoral indices except for Nifty metal were in the green.

Nifty financial services gained by 3.8 per cent, PSU banks by 3.6 per cent and realty by 3.1 per cent. But metals slipped by 1.3 per cent.

Among the prominent gainers were Yes Bank, Adani Ports, Indiabulls Housing Finance, HDFC and HDFC Bank. However, steel majors were down with JSW Steel showing a loss of 3 per cent, Vedanta by 1.82 per cent and Tata Steel by 1.81 per cent.

Sun Pharma and Hero MotoCorp also lost by about 1.9 per cent each.

"Subdued demand conditions that led to weak performance by Indian automakers in the first quarter of the financial year ending 31 March 2020 (FY20) will likely persist, adding to the challenges from the implementation of stricter emission norms under BS6 from April 2020, Fitch Ratings said.

Most auto OEMs reported lower volumes and profitability in QQFY20 as domestic sales volumes of passenger vehicles and medium and heavy commercial vehicles fell by 18.4 percent and 16.6%, respectively, according to the Society of Indian Automobile Manufacturers.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
20 Microns 37.45 6.70
Hexaware Tech 377.15 0.24
Atul 3,801.00 3.46
Amrutanjan Heal 314.15 1.32
Company Price Change %Gain
NESCO 543.80 3.49
Monotype India 0.19 0.00
Mirch Tech 0.54 3.85
Manugraph Ind 17.15 3.00

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results