BSE Sensex jumps over 300 points after dovish US Fed stance
.jpg)
The benchmark BSE Sensex rose by almost 350 points in early trade today on emergence of buying by funds and retail investors amid a firming trend in global markets after the US Federal Reserve took a dovish stance on monetary policy.
Besides, strengthening of the rupee against the US dollar supported the recovery.
The 30-share index, which had lost 114.26 points in the previous session, rose by 349.79 points, or 1.22 per cent, to 28,971.91, with all sectoral indices, led by healthcare, capital goods, metal and consumer durables, trading in positive zone with gains up to 1.46 per cent.
At 10.20 am, the BSE Sensex was trading 311.15 points up at 28933.27.
Also, the National Stock Exchange index Nifty regained the 8,700-mark by surging 99.95 points, or 1.15 per cent, to 8,785.85.
Brokers said a firming trend in Asian markets, tracking overnight gains in US bourses boosted by comments from the US Federal Reserve that cooled expectations of an early interest rate hike, influenced the sentiments here.
Prominent gainers that supported the key indices were GAIL, Axis Bank, Wipro, Hindalco, TCS, Tata Steel, Sesa Sterlite, L&T, HDFC Ltd, Cipla, Hindustan Unilever, Coal India, Dr Reddy and Tata Power.
Among other Asian markets, Hong Kong’s Hang Seng was up by 1.47 per cent while Japan’s Nikkei shed 0.65 per cent in early trade today.
The US Dow Jones Industrial Average ended 1.27 per cent higher in yesterday’s trade.
Other Latest News
.webp)
For Samsung Group, this has been a year of milestones. First, a rare public apology from its flagship Samsung Electronics Co., followed by a bumper share buyback. And now, South Korea’s biggest conglomerate has named a woman that’s not member of its founding family as chief executive officer of a group company for the first time in its 86 years.
In a country where women business leaders have long struggled to make inroads into corporate boards and C-suites, the appointment of Kim Kyung-Ah as president and CEO of Samsung Bioepis Co. is a story likely to inspire the next generation of executives.
.webp)
As cyclone 'Fengal' approaches Tamil Nadu, several parts of the capital Chennai will face a five-our power cut on Wednesday and Thursday, i.e., November 27 and 28 due to the maintenance work.
The power cut in Chennai will take place between 9 a.m. to 2 p.m., said a report by dtnext.in, adding that it may be restored if the maintenance work is completed.
.webp)
Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if US President-elect Donald Trump imposes 25 per cent import tariffs on crude imports from the two countries, traders and analysts said.
Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico even as the US oil industry has warned the policy could hurt consumers, industry and national security.
.webp)
Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
.webp)
The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
.webp)
.webp)
.webp)
.webp)
.webp)
