Overseas, Asian shares were mixed, following reports that US President Donald Trump plans to postpone auto tariffs by up to six months. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency to protect US computer networks from "foreign adversaries". He signed an executive order which effectively bars US companies from using foreign telecoms believed to pose national security risks.
China reported surprisingly weaker growth in retail sales for April on Wednesday. Overall retail sales in April rose 7.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed.
US stocks closed higher on Wednesday after reports of delay in auto tariffs helped calm investors concern. US retail sales fell 0.2% in April, the Commerce Department said Wednesday.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,142.44 crore on 15 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 671.77 crore on 15 May 2019, as per provisional data.
Key benchmark indices ended with modest losses yesterday, 15 May 2019, as stocks dropped in late trade after hovering in positive terrain for most part of the session. Investors continued to be plagued by doubts surrounding slowing global growth and US-China trade relations. The barometer index, the S&P BSE Sensex, fell 203.65 points or 0.55% to 37,114.88. The Nifty 50 index fell 65.05 points or 0.58% to 11,157.
On the data front, India's overall exports (merchandise and services combined) in April 2019 is estimated to be $44.06 billion, exhibiting a positive growth of 1.34% over the April 2018. Overall imports in April 2019 is estimated to be $52.83 billion, exhibiting a positive growth of 4.53% over April 2018. Taking merchandise and services together, overall trade deficit for April 2019 is estimated at $8.78 billion as compared to $7.07 billion in April 2018, the Ministry of Commerce & Industry said in a statement yesterday, 15 May 2019.
India's merchandise exports in April 2019 were $26.07 billion, as compared to $25.91 billion in April 2018, exhibiting a positive growth of 0.64%. In Rupee terms, exports were Rs 1,81,021.34 crore in April 2019, as compared to Rs 1,70,052.96 crore in April 2018, registering a positive growth of 6.45%. Merchandise imports in April 2019 were $41.40 billion (Rs 2,87,432.93 crore), which was 4.48% higher in dollar terms and 10.52% higher in Rupee terms over imports of $39.63 billion (Rs 2,60,084.67 crore) in April 2018. The merchandise trade deficit for April 2019 was estimated at $15.33 billion as against the deficit of $13.72 billion in April 2018.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)