Sensex Ends Over 350 Points Lower; Healthcare And Finance Stocks Witness Selling

Indian share markets witnessed selling pressure throughout the day and ended the day lower. Barring IT stocks, all sectoral indices traded in red, with stocks in the finance sector and healthcare sector leading the losses.

At the closing bell, the BSE Sensex stood lower by 369 points (down 1%) and the NSE Nifty closed down by 119 points (down 1.1%). The BSE Mid Cap index ended the day down 1.9%, while the BSE Small Cap index ended the day down by 2%.

The rupee was trading at Rs 71.12 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was down by 0.2%. The Nikkei 225 was down by 0.7%.

In the news from macroeconomic space, as per a leading financial daily, India has appeared in the list of the world's most innovative nations in 2019.

The annual Bloomberg Innovation Index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability, concentration of high-tech public companies, patent activity, among others.

It is interesting to note that the ranking process in 2019 began with more than 200 economies. Each economy was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn't report data for at least six categories were eliminated, trimming the total list to 95.

The final list published by Bloomberg consisted the top 60 economies.

Also, speaking of macroeconomic data, note that India is said to be in the pecking order of strongest economies in another decade.

India in the Pecking Order of Strongest Economies in Another Decade

Here's what Tanushree Banerjee wrote about it in one of the recent editions of The 5 Minute WrapUp...

  • ...I came across some latest data projecting the nominal GDP of countries by the year 2030.

    The article focused on how China would be by far the strongest economy in another decade. In fact, its GDP could be more than double of America's.

    But that India will be a close second.

    With GDP crossing 40 trillion dollars, the Indian economy will be at least a third bigger than the US.

    No doubt the 40 trillion dollar GDP will not come without some hiccups.

    But once you know the stocks that could gain the most in the coming decade, you too be saying - 'Buy Indian. I am'.
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