Business

Sensex jumps 353 points, Nifty nears 11,030 after US delays tariffs on Chinese imports

ANI | August 14, 2019 04:15 PM
UPL was the top gainer with a gain of 4.7 per cent at Rs 526.90 per share

Mumbai (Maharashtra) [India], Aug 14 (ANI): The bulls staged a comeback on D-Street and benchmark indices closed nearly one per cent higher on Wednesday amid gains in Asian stocks after the United States delayed tariffs on some Chinese imports.

When the closing bell rang, the BSE S&P Sensex was up 353 points at 37,312 while the Nifty 50 was higher by 104 points to 11,029. At the National Stock Exchange (NSE), all sectoral indices were in the green except for Nifty pharma which dipped by 1.4 per cent.

Nifty media was up by 2.76 per cent, metals by 2.34 per cent, PSU banks by 1.52 per cent and private banks by 1.07 per cent.

Among stocks, UPL was the top gainer with a gain of 4.7 per cent at Rs 526.90 per share while Bajaj Finserv closed 4.5 per cent higher at Rs 7,413.

Zee Entertainment also gained 4.5 per cent at Rs 342.20 per share while Tata Steel and Vedanta were up by 4.1 per cent each. The other prominent gainers were Yes Bank, Grasim, JSW Steel, Hindalco, and Tech Mahindra.

But pharma stocks were on slippery ground with Sun Pharma plunging by 5.2 per cent and Dr Reddy by 1.7 per cent. Indiabulls Housing Finance lost nearly 5 per cent while Wipro slipped by 2.8 per cent.

The other prominent losers were Coal India, Britannia, Kotak Mahindra, ONGC, Tata Motors, and Adani Ports.

Asian indices were in the green following a rally overnight in the US markets where US President Donald Trump delayed the September 1 deadline for 10 per cent tariffs on some Chinese imports.

Delaying duties on a range of consumer goods to December 15 sent Wall Street stocks soaring a day earlier. The trade conflict has disrupted global supply chains and slowed economic growth, dampening sentiment across markets.

The surge in US stocks lifted MSCI's broadest index of Asia Pacific shares outside Japan by 0.9 per cent. The Shanghai Composite Index advanced by 0.4 per cent while Hong Kong's Hang Seng rose by 0.08 per cent.

South Korea's KOSPI also advanced by 0.65 per cent and Japan's Nikkei rose by 0.9 per cent. (ANI)

Have something to say? Post your comment
Must Read
Sukhbir Badal demands immediate dismissal of Kangar and Dhillon and registration of a murder case against them
Sukhbir Badal demands immediate dismissal of Kangar and Dhillon and registration of a murder case against them
Costly electricity issue an acid test for Captain-Jakhar and Gandhis: AAP
Costly electricity issue an acid test for Captain-Jakhar and Gandhis: AAP
 Jalandhar (Rural) Police busted inter-state liquor vends gang, Four held with Pistol
Jalandhar (Rural) Police busted inter-state liquor vends gang, Four held with Pistol
Chidambaram commends Punjab Assembly for taking up resolution against CAA today
Chidambaram commends Punjab Assembly for taking up resolution against CAA today
DC inaugurates six ‘she boxes’ in city for prompt redressal of complaints regarding crime against women
DC inaugurates six ‘she boxes’ in city for prompt redressal of complaints regarding crime against women
ADC (D) launches booklet on completion of 50 years of soil & water conservation department
ADC (D) launches booklet on completion of 50 years of soil & water conservation department
Cabinet Ministers Tript Bajwa and Balbir Sidhu announces grant of Rs 5 lac & 2 lac respectively to Shaheed Udham Singh Memorial Bhawan Society
Cabinet Ministers Tript Bajwa and Balbir Sidhu announces grant of Rs 5 lac & 2 lac respectively to Shaheed Udham Singh Memorial Bhawan Society
Awareness leads to change in mindset towards girl child: Balbir Singh Sidhu
Awareness leads to change in mindset towards girl child: Balbir Singh Sidhu
Balbir Sidhu advocates fixing of medicines' prices on salt not brand
Balbir Sidhu advocates fixing of medicines' prices on salt not brand
Capt Amarinder reiterates demand for VGF from centre for Biomass Power & Solar Hybrid Power Projects
Capt Amarinder reiterates demand for VGF from centre for Biomass Power & Solar Hybrid Power Projects
Punjab govt under Capt Amarinder Singh goes in for sweeping legal reforms to deal with crime against women & children
Punjab govt under Capt Amarinder Singh goes in for sweeping legal reforms to deal with crime against women & children
Capt Amarinder led Punjab cabinet okays enactment of water resources management ordinance
Capt Amarinder led Punjab cabinet okays enactment of water resources management ordinance