Friday , May 24 2019

India’s Sensex advances to snap losing streak

Bloomberg

Indian stocks advanced, snapping their longest stretch of losses since February, as some investors felt nine days of declines to be excessive.
The S&P BSE Sensex climbed 0.6% to 37,318.53 in Mumbai after falling as much as 0.4% earlier in the session. That avoided the longest ever losing streak for the benchmark gauge. The NSE Nifty 50 Index gained 0.7%.
Stocks have been weighed down in recent days as investors weighed their positions ahead of next week’s national ballot results and fretted over the escalating US-China trade dispute.
On the earnings front, 17 of the 27 Nifty companies that have reported so far have either met or exceeded estimates.
All but two of 19 sector indexes compiled by BSE Ltd. advanced, led by a gauge of telecom companies. Reliance Industries Ltd contributed the most to the index advance, increasing 2.3%. Sun Pharma had the largest gain, rising 5.4%.

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