ANI
21 Jan 2020, 12:48 GMT+10
Mumbai (Maharashtra) [India], Jan 21 (ANI): Equity benchmark indices were flat during early hours on Tuesday after the International Monetary Fund (IMF) trimmed its global growth forecasts to 2.9 per cent for 2019 and 3.3 per cent for 2020.
The Washington-based institution forecast in October a global growth rate of 3 per cent for 2019 and of 3.4 per cent for 2020. The revision was mostly due to a sharp slowdown in India and other emerging markets.
At 10:15 am, the BSE SP Sensex was down by 91 points to 41,438 while the Nifty 50 edged lower by 15 points at 12,209. Sectoral indices at the National Stock Exchange were mixed.
Among stocks, Asian Paints fell by 1.9 per cent at Rs 1,813.90 per share. UPL dropped by 1.7 per cent, Mahindra and Mahindra by 1.5 per cent, Tata Steel by 1.3 per cent and Hero MotoCorp by 1.1 per cent.
However, Bharti InfraTel gained by 5.7 per cent to Rs 234.60 per cent. Zee Entertainment, Coal India, IndusInd Bank and ICICI Bank witnessed marginal gains.
Meanwhile, Asian shares got off to a cautious start lacking any lead from Wall Street and after the IMF revised outlook for world growth this year. Concerns also mounted about a new strain of pneumonia in China, sending a ripple of risk aversion through markets.
The mood change saw MSCI's broadest index of AsiaPacific shares outside Japan slip by 1 per cent after a steady start. Hong Kong, which suffered badly during the SARS outbreak, saw its index fall by 2 per cent.
Japan's Nikkei lost by 0.8 per cent and Shanghai blue chips by 1.5 per cent with airlines under pressure.(ANI)Get a daily dose of Brazil Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Brazil Sun.
More InformationNew Delhi [India], March 17 (ANI): Peru's Foreign Minister Elmer Schialer on Monday emphasised the importance of improving logistics...
Termas de Rio Hondo [Argentina], March 17 (ANI): The MotoGP riders took to the track this Sunday afternoon at Termas de Rio Hondo for...
Washington DC [US], March 17 (ANI): The Donald Trump administration is considering imposing a new travel ban that could affect citizens...
New Delhi [India] March 16 (ANI): Andrew Brownlee has become the oldest person to play international cricket, making his debut for...
New Delhi [India], March 16 (ANI): Global leaders from across the world are flying into New Delhi to participate in the Raisina Dialogue...
RIO DE JANEIRO, March 16 (Xinhua) -- From February to March each year, Brazil enters its most vibrant season. As the rhythm of the...
HARRISON, New York: PepsiCo is on the verge of expanding its portfolio with a major acquisition. The beverage giant is reportedly in...
GOODLETTSVILLE, Tennessee: Dollar General is bracing for a challenging year ahead, forecasting weaker-than-expected sales and profits...
SANTA CLARA, California: Intel's stock soared nearly 15 percent this week following the announcement that former board member Lip-Bu...
DETROIT, Michigan: Volkswagen's decision to scale back production at its Chattanooga, Tennessee plant has sparked backlash from the...
STOCKHOLM, Sweden: Spotify set a new milestone in 2024, paying out US$10 billion in royalties—the highest annual payout to the music...
NEW DELHI, India: Jaguar Land Rover (JLR) has decided against manufacturing electric vehicles at Tata Motors' upcoming $1 billion factory...