Sensex Trades Marginally Higher; HDFC Bank, IndusInd Bank Top Gainers

Share markets in India are presently trading marginally higher. Sectoral indices are trading mixed with stocks in the realty sector and finance sector witnessing buying interest while metal stocks and telecom stock are witnessing selling pressure.

The BSE Sensex is trading up by 95 points while the NSE Nifty is trading up by 11 points. The BSE Mid Cap index is trading down by 0.2% while the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at Rs 69.61 against the US$.

The domestic currency appreciated by 8 paise to 69.63 against the dollar in opening trade today, driven by sustained foreign fund flows and higher opening in domestic equity market.

In the news from the aviation space, SpiceJet share price is witnessing selling pressure today on fears that grounding of Boeing 737 MAX aircraft will hurt the airline's revenue and profitability.

As per an article in The Economic Times, India has grounded Boeing 737 MAX being operated by airlines in the country after about 15 countries banned the aircraft following two deadly accidents within a span of five months.

Shares of the company fell around 8% in early trade today after the Directorate General of Civil Aviation (DGCA), India's aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia.

Here's an excerpt from the article:

  • DGCA has taken the decision to ground the Boeing 737-MAX planes immediately. These planes will be grounded till appropriate modifications and safety measures are undertaken to ensure their safe operations. As always, passenger safety remains our top priority.

In other news, Jet Airways share price is also witnessing selling pressure today. Financially stressed Jet Airways said it has grounded another four of its aircraft due to non-payment of lease rentals.

With this, the total number of aircraft taken out of operations due to severe liquidity crunch in the airline and its subsequent failure to pay rentals to various lessors now stand at 32 so far.

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