After opening their day on a negative note, Indian share markets witnessed buying interest and ended their session marginally higher. Gains were largely seen in the realty sector and healthcare sector, while losses were largely seen in the IT sector and telecom sector.
At the closing bell, the BSE Sensex stood higher by 113 points (up 0.3%) and the NSE Nifty closed higher by 48 points (up 0.5%). The BSE Mid Cap index ended the day up by 0.3%, while the BSE Small Cap index ended the day up by 0.6%.
Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng was down 1.6% and the Nikkei was trading up by 0.3%. The Shanghai Composite stood down by 1.5%.
The rupee was trading at 65.4 to the US$ at the time of writing.
From the automobile sector, Tata Motors share price witnessed selling pressure today. Losses were seen on the back of weakening of demand for the company’s subsidiary Jaguar Land Rover (JLR) after fresh reports suggested jobs and production cuts at two of JLR’s British factories.
At the closing hours, Tata Motors share price was trading down by 4.7% on the BSE.
Gruh Finance share price witnessed buying interest today after the company informed bourses that its board has recommended issue of bonus shares in the ratio of 1:1 to its shareholders, subject to the approval of shareholders.
The board also recommended a dividend of Rs 3.3 per equity share of face value of Rs 2 each for the financial year ended March 31, 2018.
In the news from the banking sector, as per an article in the Economic Times, the Reserve Bank of India (RBI) may relax some of the stringent norms for treatment of bad loans that it announced in February without diluting their spirit.Gruh Finance share price ended the trading session up by 3.6%.
The finance ministry has made a case for providing some relief, especially for small and medium enterprises, as the tighter rules could force defaulters into rapid bankruptcy, which could further dent jobs generation.
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