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Sensex closes 209 points down; automobile stocks plunge

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Mumbai: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), closed Friday’s trade 208.59 points or 0.73 percent down as auto stocks plunged.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day’s trade in the red. It closed 63.75 points or 0.74 percent down at 8,570.90 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 28,465.44 points, closed at 28,261.08 points, down 208.59 points or 0.73 percent from the previous day’s close at 28,469.67 points.

The Sensex touched a high of 28,484.36 points and a low of 28,209.66 points in intra-day trade.

Charting the market’s movements, analysts said sustained selling was witnessed during the day in the absence of major positive triggers.

“Markets ended the week marginally lower despite the US Fed giving out relatively dovish comments on interest rate hikes. The week also saw important bills like the Mineral and Mines Bill getting passed in parliament,” said Dipen Shah, head, private client group research, Kotak Securities.

“Markets are awaiting developments on important bills like the land acquisition bill. Moreover, markets are also awaiting the 4Q results, which are expected to be subdued,” Shah added.

According to Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, the market in India is continuing its consolidation phase which presently stands at about -6 percent.

“Next week expiry, March-April effect, poor fourth quarter expectation and likely break in the budget session has impacted the market. Most importantly, we need to start the post-budget reform,” Nair said.

“The immediate trend will depend on the timeline and degree of accomplishment. As we know the intention is in the right direction, we may have difficulty in the short-term,” Nair added.

All sector-based indices of the BSE closed the day’s trade in the red, except for information technology (IT) and technology, entertainment and media (TECK).

Sectors like automobile, healthcare, consumer durables, capital goods, banking, fast moving consumer goods (FMCG), metal, oil and gas and realty came under heavy selling pressure.

The S&P BSE automobile index plunged 264.60 points, healthcare index dropped by 262.75 points, consumer durables index fell by 204.37 points, capital goods index was lower by 200.58 points, banking index was down 191.62 points.

Indices like FMCG went down by 167.81 points, metal index fell 86.63 points, oil and gas index was lower by 69.27 points and realty index declined by 65.25 points.

However, IT index gained 99.22 points and TECK index moved up by 30.82 points.

The major Sensex gainers on Friday were: Wipro, up 2.92 percent at Rs.651.85; Infosys , up 1.30 percent at Rs.2,258.95; Coal India, up 0.75 percent at Rs.368.10; Tata Consultancy Services (TCS), up 0.59 percent at Rs.2,609.65; and HDFC Bank, up 0.34 percent at Rs.1,055.20.

The losers were: NTPC, down 6.25 percent at Rs.145.50; BHEL, down 3.68 percent at Rs.245.75; ICICI Bank, down 3.36 percent at Rs.319.10; Gail, down 3.31 percent at Rs.377.15; and Mahindra and Mahindra (M&M), down 2.70 percent at Rs.1,173.

Among the Asian markets, Japan’s Nikkei went up by 0.43 percent, while Hong Kong’s Hang Seng closed lower by 0.38 percent and China’s Shanghai Composite Index, gained by 0.98 percent.

In Europe, London’s FTSE 100 was marginally up by 0.13 percent, France’s CAC 40 was up 0.54 percent and Germany’s DAX Index was higher by 1.00 percent at the closing in the Indian markets.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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