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Financials fall into bear market, joining materials and energy stocks

Saturday, December 15, 2018, 8:45 AM

Stocks in the financial sector had a tough day on Friday, falling into bear-market territory as a tumultuous week on Wall Street came to an end. Financials fell 1 percent on Friday, closing down 20.06 percent from a 52-week high reached in January. The decline was driven by a fall in bank shares amid worries about slowing global economic growth.
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India's textile sector on recovery path: CITI

Friday, June 29, 2018, 6:55 PM

The country's textiles and apparel sector is showing signs of recovery owing to rupee depreciation, pick-up in domestic demand and progressive policies of the government, Confederation of Indian Textile Industry said today. CITI Chairman Sanjay Jain said the sector which saw a major hit due to demonetisation, implementation of GST, rupee appreciation and high domestic cotton prices, is finally showing some signs of recovery.

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