Indian stock markets tumbled on Wednesday, despite initially opening strong, following anticipated Consumer Price Index (CPI) figures out of both India and the United States.The S&P BSE Sensex, the Indian equity index, fell by 78 points, a decrease of 0.1 percent, to close at 73,589. The wider NSE Nifty index was down by 55 points, representing a decline of 0.2 percent, to finish at 22,281.Public Sector Unit (PSU) stocks experienced a sharp downturn, with both Power Grid Corporation and NTPC seeing reductions of between 3 and 4 percent. There was also notable selling pressure on Adani Group stocks, with Adani Enterprises and Adani Ports each dropping by around 3 percent.Conversely, ITC shares rose by 6 percent following a high-volume block deal. Jet Airways also saw an increase, their shares rocketing by 5 percent after acquisition of ownership by Jalan Kalrock Consortium was endorsed by the National Company Law Appellate Tribunal (NCLAT).Likitha Infra’s shares also fared well, surging by 3.6 percent due to securing an order worth Rs 106 crore from Hindustan Petroleum Corporation Limited (HPCL). Shalby made moderate gains following its strategic investment decision in Healers Hospital.Ethos, however, suffered a dip in share price of 5 percent after the company chose to decrease its stake in Silvercity Brands AG, from 100 percent to 35 percent.The material has been provided by InstaForex Company – www.instaforex.com
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