SBI Share Price

Category: Finance

Indian equity benchmarks extended their previous session losses with a gap-down opening on Thursday as Brent crude oil prices have risen sharply near $120 a barrel mark coupled with back-to-back hikes in petrol, diesel rates. But, markets trimmed some of their losses and are trading lower with cut of around 0.20% each in early deals. Broader indices -- BSE Mid and Small cap -- are outperforming larger peers with gains of around half a percent each. Initially, traders got worried as the Ministry of Commerce & Industry said total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year. However, some respite came in as the government data showed that the country’s exports for the first time crossed the $400 billion mark in a fiscal on healthy performance by sectors such as petroleum products, engineering, gems and jewellery, and chemicals. Traders took note of report that the commerce ministry will extend the existing foreign trade policy (FTP) for some more months beyond March 31. On the global front, Asian markets are trading mixed amid negative cues overnight from Wall Street, as worries about the ongoing war in Ukraine with related spike in price of crude oil and concerns about inflation weighed on market sentiment. Meanwhile, the latest survey from Jibun Bank showed the manufacturing sector in Japan continued to expand in March, and at a faster pace, with a manufacturing PMI score of 53.2. Back home, real estate industry stocks were in focus with a private report that investments in the real estate sector in India are bound to grow by 5-10 per cent in 2022, with the sector poised to hit the pre-pandemic levels of 2019. In scrip specific development, Zee Entertainment surged amid reports that its largest shareholder Invesco said it will not pursue an EGM to add six independent directors to Zee’s Board as it backed the merger between the company and Sony. The BSE Sensex is currently trading at 57551.64, down by 133.18 points or 0.23% after trading in a range of 57138.51 and 57575.50. There were 18 stocks advancing against 12 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index rose 0.45%, while Small cap index was up by 0.44%.