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Oil companies have been directed to restrict the supply of petrol and diesel to fuel pumps to 1000 litres per day per station, according to the order.
ZEEL shot up to a day’s high of Rs 380.80 before closing for the day at Rs 372.50, a gain of 16.64 per cent from Friday’s close on BSE.
About USD 5.6 trillion of equity value has been obliterated in the region this year as the global carnage shows no let-up and investors are bracing for volatile days ahead.
The dollar struggled and US Treasury yields dipped after Jerome Powell said that US policy rates were "just below" neutral.
The IT stocks led the gains on Sensex, with the BSE IT index rising 3.5 per cent, followed by Teck (technology, entertainment and media) stocks.
The broader NSE Nifty too fell around 150 points to crack below the 10,400-mark as 30 of its constituents declined.
Netflix said it gained almost seven million new users worldwide, to bring its total membership to more than 137 million.
This is a testimony to our strong client relationships, digital-led full-service capabilities, and intense focus on the needs of our clients," Infosys CEO and managing director Salil Parekh said.
The company's market valuation tumbled Rs 9,101.69 crore to Rs 3,30,455.31 crore on the BSE.
Indian shares ended higher for a second straight session on Monday after a weak start, in a recovery led by IT stocks benefiting from a depreciating rupee, while consumer discretionary stocks capped t
Shares of InterGlobe Aviation zoomed 7.44 per cent, Jet Airways soared 4.70 per cent and SpiceJet 4.69 per cent on BSE.
The stocks fell below Rs 200 level at Rs 170.65, the lowest since December 19, 2011, falling 19.78 per cent intraday.
Experts say that the market is unlikely to show upward movement and will continue to remain choppy, mainly on account of the election year.
Market experts said the fuel price cut would have negative implications for upstream public sector companies.
Among others, Muthoot Finance plunged 5.84 per cent, GIC Housing Finance 5.36 per cent, Repco Home Finance 5.30 per cent and LIC Housing Finance 2.60 per cent.