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Domestic equity markets have staged a dramatic turnaround over the last two months. The frontline indices – the S&P BSE Sensex and Nifty – have rallied over 17 per cent each from their respective lows in June. Thus far in August, they have surged around 6 per cent each.
The BSE Sensex pared early gains and closed 650 points down at 59,650 on Friday, retreating sharply from the four-month high touched last session with pressure from the heavyweight auto and banking sectors in Mumbai. The Indian government announced on Thursday that it would raise taxes on fuel exports and reduce the windfall tax on local crude oil production. Still, auto manufacturers booked sharp losses, with Tata Motors and Hero Moto both losing more than 2%. Banks also closed in the red, led by a 4% decline for IndusInd Bank. On the other hand, tech stocks moved slightly higher. On the week, the Sensex closed marginally higher.
SENSEX Stock Market Index
The SENSEX (BSE30) is a major stock market index which tracks the performance of 30 major companies listed on the Bombay Stock Exchange. The companies are chosen based on the liquidity, trading volume and industry representation. The SENSEX, is a free-float market capitalization-weighted index.
The Index has a base value of 100 as of 1978-79.
The BSE Sensex pared early gains and closed 650 points down at 59,650 on Friday, retreating sharply from the four-month high touched last session with pressure from the heavyweight auto and banking sectors in Mumbai. The Indian government announced on Thursday that it would raise taxes on fuel exports and reduce the windfall tax on local crude oil production. Still, auto manufacturers booked sharp losses, with Tata Motors and Hero Moto both losing more than 2%. Banks also closed in the red, led by a 4% decline for IndusInd Bank. On the other hand, tech stocks moved slightly higher. On the week, the Sensex closed marginally higher.
SENSEX Stock Market Index
The SENSEX (BSE30) is a major stock market index which tracks the performance of 30 major companies listed on the Bombay Stock Exchange. The companies are chosen based on the liquidity, trading volume and industry representation. The SENSEX, is a free-float market capitalization-weighted index.
The Index has a base value of 100 as of 1978-79.
| 59646.15 | 60298.00 | 62245.43 | 113.28 | 1979 - 2022 | points | Daily |
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