Business

Sensex up 254 points, Indiabulls Housing surges 14.7 pc

ANI | August 09, 2019 04:25 PM
Indiabulls Housing Finance gained by 14.77 pc but Yes Bank tanked by 7.85 pc

Mumbai (Maharashtra) [India], Aug 9 (ANI): Equity benchmark indices ended higher for the second consecutive day on Friday, a day after reports said that the government is likely to roll back the recently-imposed higher tax on foreign portfolio investors (FPIs).

The introduction of a surcharge on higher income brackets announced in the Budget by Finance Minister Nirmala Sitharaman had led to a brisk selloff by FPIs.

The BSE S&P Sensex closed 255 points higher at 37,582 while the Nifty 50 edged up by 77 points to 11,110. However, sectoral indices at the National Stock Exchange were mixed.

Nifty auto up by 2 per cent, financial services by 1.5 per cent, private banks by 1.2 per cent and realty by 0.8 per cent. But IT, media, metal, pharma and PSU banks were in the negative territory.

Among stocks, Indiabulls Housing Finance gained by 14.77 per cent to close at Rs 510 per share. Eicher Motors was up by 4.7 per cent, Titan by 3.4 per cent, Maruti by 3.3 per cent and Bajaj Finserv by 2.8 per cent.

However, Yes Bank tanked by 7.85 per cent to close at Rs 82.20 per share. Pharma major Cipla was down by 3.6 per cent, Tech Mahindra by 2.5 per cent, Hindalco by 2.2 per cent and Coal India by 2.1 per cent.

Meanwhile, Asian indices saw a positive start led by the Japanese Nikkei and South Korean Kospi but fresh concerns about US-China trade ties were likely to limit gains.

MSCI's broadest index of Asia Pacific shares outside Japan rose 0.2 per cent. Japan's Nikkei average advanced 0.4 per cent while South Korean stocks gained 0.89 per cent. Hong Kong's Hang Seng and Shanghai Composite were in the red. (ANI)

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