Markets may be volatile; Reliance, Yes Bank shares in focus1 min read . Updated: 11 Sep 2020, 08:54 AM IST
- Asian markets were mixed on Friday morning in response to declines in technology stocks that began last week and growing concerns about another round of negotiations on the UK's departure from the European Union
MUMBAI: Indian markets may be volatile on Friday while trends in SGX Nifty suggest a soft opening of benchmark indices. On Thursday, The BSE Sensex ended at 38,840.32, gaining 646.40 points or 1.69%. The 50-share index Nifty was at 11,449.25, adding 171.25 points or 1.52%.
Asian markets were mixed on Friday morning in response to declines in technology stocks that began last week and growing concerns about another round of negotiations on the UK's departure from the European Union.
The European Union told Britain on Thursday it should abandon a plan to break their divorce treaty, but Prime Minister Boris Johnson's government refused and moved forward with a draft law that could sink four years of Brexit talks.
On Wall Street on Thursday, the Dow Jones Industrial Average fell 405.89 points, or 1.45%, to 27,534.58, the S&P 500 lost 59.77 points, or 1.76%, to 3,339.19 and the Nasdaq Composite dropped 221.97 points, or 1.99%, to 10,919.59.
Back home, Yes Bank said it has fully repaid the ₹50,000 crore provided by RBI as a special liquidity facility (SLF) amid the crises faced by the lender earlier this year, its chairman Sunil Mehta said. He also said FY21 will be a year of transition for the bank, which has just come out of an unprecedented ₹10,000 crore bailout led by SBI after setbacks received under the founding team.
Reliance has said a report about the company planning to sell a stake in its retail business to US rival Amazon is speculative.
Prime Minister Narendra Modi on Thursday launched fisheries and animal husbandry projects worth more than ₹20,000 crore in Bihar, which goes to polls later this year. The projects launched virtually by Modi, who gave the slogan Jai Kisan (farmers), Jai Vigyan (science), Jai Anusandhan (research), included the ₹20,050 crore scheme Pradhan Mantri Matsya Sampada Yojana (PMMSY) and the e-Gopala mobile app.
The euro rose to a one-week high against the dollar on Thursday after European Central Bank President Christine Lagarde suggested the ECB was unlikely to undertake measures to weaken the euro despite its recent gains.
Oil prices slid again after US data showed a build in crude stockpiles last week stemming in part from ongoing reductions at refineries along the Gulf of Mexico after Hurricane Laura.
Reuters contributed to the story.