Friday, May 22, 2020
Markets in India were trading flat today (22nd May 2020) as the Reserve Bank of India (RBI) slashed repo rate by 40 bps to 4 percent.
Among headline indices, the S&P BSE Sensex was up 40 points at around 30,970 levels and the Nifty50 index reclaimed the 9,100 marks. Infosys gained 2 percent after the class-action lawsuit filed against the company in the US was dismissed. Reliance Industries gained 1 percent after the conglomerate said that KKR would invest Rs 11,367 crore into Jio Platforms for a 2.32 percent equity stake.
The trends among Nifty sectoral indices were mixed. Nifty PSU Bank index, up 1.8 percent, gained the most.
Twenty-five companies including Alembic Pharmaceuticals, IDFC First Bank, and UPL, are scheduled to announce their March quarter earnings later in the day.
