Weekly Wrap: Modi Stimulus, Oil Relief Fail To Lift Stocks As Weak Global Cues Weigh


Weekly Wrap: Modi Stimulus, Oil Relief Fail To Lift Stocks As Weak Global Cues Weigh

Indian equity benchmarks ended lower despite gains from declining oil prices and government stimulus measures as rout in the global markets deepened. The S&P BSE Sensex fell 0.61 percent to 35,742 and the NSE Nifty 50 Index dropped 0.48 percent to 10,754.

The Sensex and Nifty rose for the first three days as the Reserve Bank of India announced that it will buy more government bonds to ease liquidity crunch and a day after the Modi government said it’ll increase the amount it has committed to recapitalise public-sector banks in the current financial year amid falling crude oil prices.

However, a rout in global market overshadowed positive domestic developments after the Federal Reserve raised borrowing costs for the fourth time this year  Read More

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