After opening the day in the red, share markets in India witnessed volatile trading activity throughout the day and ended the day in above the dotted line. Sectoral indices traded mixed, with stocks in the auto sector and stocks in the metal sector, leading the gains.

At the closing bell, the BSE Sensex stood higher by 147 points (up 0.4%) and the NSE Nifty closed up by 52 points (up 0.5%). The BSE Mid Cap index ended the day up 1.2%, while the BSE Small Cap index ended the day up by 0.6%.

The rupee was trading at Rs 71.72 against the US$ in the afternoon session.

Oil prices were trading at US$ 76.45 at the time of writing.

Asian stock markets too finished mixed. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was up by 0.4%. The Nikkei 225 was down by 0.8%. Meanwhile, European markets were trading on a negative note. The FTSE 100 was down by 0.6%. The DAX, was down by 0.4% while the CAC 40 was down by 0.3%

In news from the aviation sector. The government is mulling a strategic sale of Air India subsidiary, AIATSL to raise funds and help cut debt.

Strategic sale of Air India Air Transport Service (AIATSL), which provides ground handling services, is being planned as part of the turnaround scheme for Air India which is reeling under a debt burden of Rs 480 billion at end of March 2017.

Earlier it was reported that the government was planning a relief package for the national carrier.

As part of the plan, the government sought to reduce the airlines’ costs. In addition, the government also assured the debt-ridden national carrier – Air India of Rs 21 billion in the form of guaranteed borrowing from the government.

In April, the government had invited bids for a 76% stake in Air India, along with a 100% stake in subsidiary Air India Express, and 50% in Air India SATS Airport Services. However, it did not receive any bids since investors were wary of potential government interference as it would retain a 24% stake.

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