Indian share markets continued to trade on a positive note during closing hours of trade and ended the day marginally higher. Gains were largely seen in the realty sector, consumer durables sector, and banking sector, while telecom stocks witnessed selling pressure.
At the closing bell, the BSE Sensex stood higher by 118 points (up 0.3%) and the NSE Nifty closed higher by 40 points (up 0.4%). The BSE Mid Cap index ended the day up by 0.7%, while the BSE Small Cap index stood flat.
Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 1.7% and the Nikkei was trading down by 0.2%. The Shanghai Composite stood higher by 1.3%.
European markets were trading on a negative note. The FTSE 100 was down by 0.07%. The DAX was down by 0.22% while the CAC 40 was down by 0.54%.
The rupee was trading at 72.13 to the US$ at the time of writing.
In the news from aviation sector, Jet Airways share price was in focus today on reports that Tata Sons Chairman N Chandrasekaran is expected to present a business viability plan to the board on the proposed acquisition of the struggling Jet Airways.
Share price of the company climbed up as much as 24% on the NSE today – it’s biggest intraday move in around 3 years – on the back of above news.
Note that last month reports stated that Jet Airways is trimming its workforce and operations further as it struggles through its financial crisis.
As per a leading financial daily, at least 15 people at manager or general manager level in departments such as engineering, security, and sales have been asked to leave in October. It is also reported that the airline has grounded eight of its planes at the Mumbai and Chennai airports.
The company has also deferred announcing the June quarter numbers to an unspecified late date.
Amid rising concerns over the airline’s financial health and proposed salary reductions for employees, Jet Airways chairman said a new committee would be set up to improve public perception.
