IndiaIndian shares tumble as domestic COVID-19 cases shoot past 20 million
Reuters
3 minute read
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 1, 2020. REUTERS/Francis Mascarenhas
Indian shares ended at their lowest level in more than a week on Tuesday, dragged by heavyweight financials, energy and IT stocks, as domestic coronavirus cases crossed the grim milestone of 20 million.
The NSE Nifty 50 index (.NSEI) dropped 0.94% to 14,496.5, while the benchmark S&P BSE Sensex (.BSESN) closed 0.95% lower at 48,253.51, after swinging in choppy trading for most of the session.
The surge of the highly infectious Indian virus variant has swamped the health system, forced states to enter lockdowns and ignited calls for a lockdown at the national level. read more
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India H2 Alliance asks Centre to set up hydrogen fund
May 04, 2021
The aim is to raise $1 billion by 2030 The India H2 Alliance (IH2A), an industry coalition of global and Indian companies, has proposed to the government to create a hydrogen-themed energy transition fund with the aim to raise $1 billion by 2030 for the deployment towards national hydrogen projects of a certain scale.
The newly formed industry group said on Tuesday that it has submitted a six-point agenda to the NITI Aayog and the Ministry of New and Renewable Energy for creating a domestic “Bharat H2” supply chain and to build hydrogen systems at scale, the statement said. The government should sign co-funding partnerships with sovereign partners, multi-lateral agencies, clean energy funds and industry, it added.
Oil and Gas stocks were trading with gains, with the S&P BSE Oil&Gas index rising 100.39 points or 0.67% at 14982.81 at 09:48 IST. Among the components of the S&P BSE Oil&Gas index, Hindustan Petroleum Corporation Ltd (up 2.61%), GAIL (India) Ltd (up 2.55%),Oil & Natural Gas Corpn Ltd (up 1.21%),Indian Oil Corporation Ltd (up 1.15%),Bharat Petroleum Corporation Ltd (up 1.08%), were the top gainers. Among the other gainers were Castrol India Ltd (up 0.68%), Gujarat State Petronet Ltd (up 0.59%), Indraprastha Gas Ltd (up 0.47%), and Petronet LNG Ltd (up 0.13%). On the other hand, Reliance Industries Ltd (down 1.28%), moved lower.
At 09:48 IST, the S&P BSE Sensex was down 129.43 or 0.27% at 48589.09.
RIL share slips 2.5% post Q4 earnings; here s what brokerages say
RIL share lost 2.55% to Rs 1,943.7 against previous close of Rs 1,994 on BSE
BusinessToday.In | May 3, 2021 | Updated 10:46 IST
RIL share trades higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.
Reliance Industries Ltd (RIL) share fell over 2% in early trade despite the Mukesh Ambani led conglomerate reporting more than doubling of its March quarter net profit. RIL share lost 2.55% to Rs 1,943.7 against previous close of Rs 1,994 on BSE.
The stock has fallen 2.73% returns in the period.
RIL share trades higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.
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