GulfBase Live Support
Leave a message and our representative will contact you soon
26/04/2015 00:26 AST
The benchmark BSE Sensex on Friday nosedived 297 points to its lowest in three-and-a-half months at 27,437.94 after IT major Infosys shares tanked 6 per cent on lower-than-expected earning numbers.
On a sequential basis, Infosys’ net profit fell 4.7 per cent in the March quarter, while revenue declined by 2.8 per cent, the company reported on Friday.
Brokers said, continued capital outflows by foreign funds on tax claims despite government’s clarification, muted earnings and forecast of a below-normal monsoon, were major factors behind the plunge.
Earlier in the day, on controversial tax issue faced by foreign investors, the CBDT said, claims coming under the ambit of DTAAs will be settled within a month of being filed.
Concerns of non-DTAA foreign investors, however, continue to weigh on sentiments.
Moreover, weakness in the rupee, which also fell to a fresh three-month low of 63.60 (intra-day), had a negative impact.
The 30-share BSE index tumbled by 297.08 points or 1.07 per cent to 27,437.94, a level last seen on January 14, when it closed at 27,346.82. Intra-day, the gauge shuttled between 27,829.11 and 27,344.70.
This is the seventh fall in last eight sessions.
On similar lines, the NSE Nifty dropped 93.05 points or 1.11 per cent at 8,305.25 after moving between 8,413.30 and 8,273.35, intraday.
Besides Infosys, other major on the Sensex included, Cipla, Sesa Sterlite, Hindalco, L&T, HDFC Ltd, Coal India, Axis Bank, Dr Reddy, GAIL, Hindustan Unilever and ICICI Bank.
Sectorwise, the BSE realty index suffered the most by falling 3.85 per cent, followed by consumer durables 3.18 per cent, IT 2.78 per cent, capital goods 2.57 per cent, teck 2.33 per cent, metal 1.65 per cent, banking 1.33 per cent, healthcare 1.09 per cent and power 0.96 per cent.
Kashmir Images
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
Index | Closing | Change |
---|---|---|
NIKKEI 225 | 21,292.29 | -96.29 (-0.45 |
DAX | 12,002.45 | -94.28 (-0.77 |
S&P 500 | 2,614.45 | 32.57 (1.26 |
05/04/2018
Stock markets recoiled on Wednesday as China retaliated in an escalating trade war with the United States, leaving investors reluctant to take positions in anything but the safest of assets.
The Gulf Today
04/04/2018
Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.
Gulf News
04/04/2018
Foreign investment in France rose 16 per cent in 2017 to levels not seen for a decade as President Emmanuel Macron’s (pictured) bid to attract money from abroad gains pace, a government report said o
Oman Daily Observer
03/04/2018
Explaining Japan’s economy to foreign audiences is hard.
One big reason for this is that explaining something as large and complex as a $5 trillion economy is an inherently difficult task - the
The National
03/04/2018
China raised import duties on a $3 billion list of US meat, apples and other products on Monday in an escalating dispute with Washington over trade and industrial policy.
The government of
The Gulf Today