Written by Peter Noronha | Tuesday December 17, 2019
The metal index galloped by 3% at 2,673, with Tata Steel, Vedanta, Hindalco and JSW Steel surging by 2-5% each. Tata Motors, HDFC and Infosys were the other significant gainers on the NSE.
According to Asia Index, which is a 50-50 partnership between S&P Dow Jones Indices LLC and BSE, listed companies like Titan, UltraTech Cement and Nestle India will enter the barometer as part of the reconstitution exercise.
Consumer businesses are suffering in India as economic expansion has slowed to a six-year low, exacerbated by a credit crunch amid a shadow banking crisis.
Aramco is looking to float a 1 per cent to 2 per cent stake on the kingdom's Tadawul market, in what would be one of the largest ever public offerings, worth upwards of $20 billion.
On the National Stock Exchange (NSE), Axis Bank shares opened higher at Rs 718 apiece and advanced to as much as Rs 730 apiece, marking a increase of 2.42 per cent.
Reliance Jio Infocomm will charge customers 6 paise per minute for calls made to rival networks till such time that the telecom regulator moves to a zero termination-charge regime, the company said after market on Wednesday.
Yes Bank said on Wednesday that the steep fall in its shares the previous day was primarily on account of forced stake sale by a large shareholder. The statement from the private sector lender came a day after the Yes Bank stock nosedived as much as 29.92 per cent during the session before paring some of those losses to still close at its lowest level recorded in over a decade. In a regulatory filing, Yes Bank said its "financial and operating metrics remain intrinsically sound and stable".
