Indian share markets edged lower in the afternoon session as investors awaited March-quarter earnings results. At the closing bell, the BSE Sensex stood lower by 131 points, while the NSE Nifty finished down 17 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE Small Cap both finished up by 0.6%. Losses were largely seen in information technology stocks and realty stocks.

RBL Bank share price surged 5.5% after the bank entered the list of India’s 10 most valuable banks. RBL Bank stock was trading at new record high of Rs 587.50 on the BSE.

Asian equity markets finished mixed as of the most recent closing prices amid rising worries about geopolitical risks. The Nikkei 225 gained 0.71%, while the Shanghai Composite and the Hang Seng indices declined. They fell 0.52% and 0.02% respectively. European markets are trading lower. The FTSE 100 is higher by 0.07%, while the CAC 40 and DAX are trading lower. They are down 0.42% and 0.14% respectively.

The rupee was trading at Rs 64.44 against the US$ in the afternoon session. Oil prices were trading at US$ 52.63 at the time of writing.

Indian Oil Corporation’s share price rose as much as 3.6% to a record high after a report that state-run oil marketing companies were mulling a plan that would allow daily changes in the price of automotive fuels.

In news from economic segment, India’s gold import witnessed a fall of about 24% to $23.22 billion in April-February period of the last fiscal, compared to US$30.71 billion in the corresponding period of 2015-16, a development that could ease the worries of rise in current account deficit (CAD).

According to the commerce ministry data, India had witnessed a 43% year on year decline in gold imports in the month of January, 2017, mainly due to demonetization, on subdued demand resulting from cash crunch. India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jeweler industry.

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