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Closing Bell: Nifty holds 11K, Sensex falls 261 pts; OMCs care for a beating, Titan up 2% – Moneycontrol.com

Closing Bell: Nifty holds 11K, Sensex falls 261 pts; OMCs care for a beating, Titan up 2% – Moneycontrol.com

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Sep 16, 2019 03: 45 PM IST | Supply:Moneycontrol.com

The Sensex used to be down 261.68 points at 37,123.31, while Nifty used to be down 72.40 points at 11,003.50.

  • FIIs rep sold Rs 751.26 crore in equities while DIIs rep sold Rs 308.56 crore in equities this day as per provisional recordsdata available on NSE.

  • Usual Motors and TCS launched new partnership in world automobile engineering.

  • Oil Impact

    “The most new attack on Saudi Arabia’s largest oil processing plant has despatched oil prices taking medications by greater than 20 percent. If manufacturing is no longer resumed rapidly, this form of upward push might perchance well anxiousness the world economy as person prices will additionally paddle up. This might perchance well merely positively affect India, where the economy is already pressured out. The rupee has fallen to 71.4 in opposition to the greenback already and is probably going to stay unstable. This volatility will anxiousness exporters the most, particularly MSMEs which will be no longer in a area to hedge considerably. Besides the petroleum-linked merchandise which will be directly impacted by oil prices, sectors equivalent to plastics and textiles might perchance well even be hit particularly laborious by the double whammy of rising oil prices and a unstable rupee,” Pushkar Mukewar, Co-Founder and Co-CEO of Drip Capital mentioned.

  • Cox & Kings:Company defaulted on interest funds on NCDs due September 15.

  • Rupee Closing

    The Indian rupee closed at 71.59 in opposition to the US greenback, decrease by 67 paise in comparison with Friday’s close of 70.92 a greenback.

  • Wipro signed pact with German-basically basically based fully firm for digital products and providers.

  • Market Outlook

    “The inviting surge in crude oil prices has positively impacted sentiments as it has an destructive impact on Indian economy. Going forward, investors would care for a detailed witness on geopolitical trends as any extra escalation might perchance well care for oil prices even elevated and it would be detrimental for Indian markets and economy. Moreover, the FOMC meet (17-18th September) would additionally be on investors’ radar whereby there are expectations for a charge slice. However, commentary on boom and charge outlook would be a key yelp to witness out for,” Ajit Mishra Vice President, Research, Religare Broking mentioned.

    “On the domestic entrance, the most new measures announcement are sure, but the expectations of GST charge slice are excessive, particularly for the auto sector. The GST meet is scheduled on September 20th. Therefore, given the most new challenge, we depend on the markets would stay unstable in the near time-frame,” he added.

  • Rupee Update: Indian rupee has recovered marginally from the low point of the day but trading decrease at 71.53 per greenback, down 61 paise from the old close.

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