Indices rally to one-week high: Factors that drove the markets up
The stock market hit a one-week high on July 18 riding on the back of positive global cues. At close, the Sensex surged 760.37 points or 1.41 percent at 54,521.15, and the Nifty jumped 229.30 points or 1.43 percent at 16,278.50. About 2,296 shares have advanced, 1,077 shares declined, and 158 shares remain unchanged.
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Rupee hits fresh record low, closes at 79.98 vs US dollar
The Indian rupee on July 18 hit a fresh record low as it ended closer to the psychological level of 80-mark amid crude oil rising back near $100 per barrel. This was the seventh consecutive session when the rupee weakened. The home currency stood at 79.98 against the US dollar, down 0.13 percent from the previous close. So far this year, the currency has weakened 7.05 percent.
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5G spectrum auction: Reliance Jio submits highest EMD at Rs 14,000 crore
Reliance Jio, the telecom arm of Reliance Industries Ltd (RIL), has submitted an earnest money deposit (EMD) of Rs 14,000 crore, the highest for any telecom company, for the upcoming 5G spectrum auction. Bharti Airtel, one of the prime competitors of Jio, has submitted an EMD of Rs 5,500 crore.