Indian share markets witnessed selling pressure in the final hour of trade but still closed at a record high for a third straight session.
At the closing bell, the BSE Sensex and the NSE Nifty finished flat. The S&P BSE Mid Cap finished down by 0.6% while & S&P BSE Small Cap finished down by 0.5%. Gains were largely seen in bank stocks, and capital goods stocks.
HDFC share price, HDFC Bank share price and Asian Paints share price are major gainers with gains to the tune of 5.8%, 2.2% and 1.3% respectively.
Meanwhile, software stocks finished in red. TCS share price finished down by 2.8% while Infosys share price fell 2.2%.
Asian stock markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.71% while Japan’s Nikkei 225 is up 0.15% and China’s Shanghai Composite is up 0.06%. European markets are mixed today. The CAC 40 is up 0.38% while the FTSE 100 gains 0.06%. The DAX is off 0.58%.
The rupee was trading at Rs 64.12 against the US$ in the afternoon session. Oil prices were trading at US$ 48.8 at the time of writing.
In news from economy sector, in a bid to develop India’s infrastructure, improve economic growth and community wellbeing, the Global Infrastructure Hub (GI Hub) in its report titled ‘Global Infrastructure Outlook’ has said that India will need investments to the tune of around US$ 4.5 trillion by 2040. It also noted that this will make India the second largest infrastructure market after China.
The report has stated that the significant demand for infrastructure investment in India over the next 25 years is likely to be driven by increasing income levels and economic prosperity.
In absolute terms, it explained that the total investment needed to meet the sustainable development goal is greatest in India, a total of US$ 1.3 trillion of investment is needed by 2030, more than China, which is US$ 257 billion.
