Nifty forges ahead, touches fresh peak at 10,043
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The benchmark Nifty on Monday climbed to a fresh high of 10,043 and the Sensex surged over 133 points in the opening session, underpinned by a strong dose of better-than-expected corporate earnings.
The rally came on buying in capital goods, metal, oil and gas, consumer durables and banking stocks.
L&T, the engineering and construction conglomerate, rose 3.97 per cent after the company on Friday reported better- than-estimated earnings for the first quarter with a 50.59 per cent jump in consolidated net profit, which in turn helped the NSE index.
The 50-share NSE Nifty surged 28.80 points, or 0.28 per cent, to scale a life high of 10,043.30, breaking its previous intra-day record 10,026.05 hit on July 28.
The 30-share Sensex too was on song, rising 133.05 points, or 0.41 per cent, at 32,442.93. The gauge had lost 73.42 points in the previous session on Friday.
Sectoral indices, led by capital goods and metal, registered gains of up to 1.79 per cent.
Other big movers were ONGC, Kotak Bank, Tata Steel, PowerGrid and ICICI Bank.
Continued buying by domestic institutional investors (DIIs) and encouraging quarterly numbers from a few blue-chip companies made it a perfect setting, traders said.
Hong Kong's Hang Seng and Shanghai Composite rose firmed up. Japan's Nikkei, however, fell.
The US Dow Jones Industrial Average closed 0.15 per cent higher on Friday.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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