Sensex Ends 197 Points Higher; Healthcare & FMCG Stocks Witness Buying


Indian share markets continued to trade on a positive note during closing hours of trade and ended the day higher. Gains were largely seen in the healthcare sector and FMCG sector, while metal stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 197 points (up 0.6%) and the NSE Nifty closed higher by 66 points (up 0.6%). The BSE Mid Cap index ended the day flat while the BSE Small Cap index ended the day down by 4%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.3% and the Nikkei was trading down by 0.6%. The Shanghai Composite stood higher by 0.4%.

European markets were trading on a positive note. The FTSE 100 was up by 0.2%. The DAX was up by 0.5% while the CAC 40 was up by 0.3%.

The rupee was trading at 72.79 to the US$ at the time of writing.

In the news from the aviation spaceJet Airways share price was in focus today on reports that the struggling airline is close to a deal with Indian conglomerate Tata Sons.

As per the news, the board of Tata Sons is in the midst of a meeting to vet a proposal to buy out the cash-strapped Jet Airways.

Share price of the company has also climbed up as much as 26% yesterday 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 had 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.

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