India’s Benchmark Stock Index Dangled between Gains and Losses

India’s Benchmark Stock Index Dangled between Gains and LossesOn Wednesday, India’s benchmark stock index, Bombay Stock Exchange (BSE) dangled between gains and losses. The BSE opened at 17,659.37 points down from 37.43 points or 0.21% from its previous close at 17,560.3 points.

The BSE rose 10.52 or 0.1% to 17,570.82 at 1:12 p. m. 17,570.82 at 1:12 p. m. in Mumbai gained 0.2% and was at 5,287.50. The BSE index was at 2,183.05.

India’s biggest home-products maker, Hindustan Unilever Ltd. (HUVR) has declined the most on the stock market in the past six weeks. Hindustan Unilever lost 2.3 and was traded at Rs 315. Infosys Ltd., a software exporter that earns 22% from its revenue from Europe, rose the most in the last two weeks. Infosys advanced 1.6% and was at Rs 2,773.05.

The biggest copper and zinc producer of India, Sterlite Industries (India) Ltd., surged 1.9% to Rs 156.65. The London Metal Exchange Index of prices for six industrial metals including copper and aluminum gained 0.9%.

Meanwhile, the central bank has raised its repurchase rate to 7.5% from 7.25% on June 16. Market analysts have predicted that the India’s $1.4 trillion economy has expanded 7.8% percent in the three months competed on March 31.