Sensex shapes up, gains 214 pts on capital inflows
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MUMBAI: The benchmark BSE Sensex recovered sharply over 213 points in early trade on Wednesday powered by capital inflows by foreign funds and buying by retail investors amid a strong Asian trend.
Besides, better-than-expected Q1 earnings by Bharti Airtel buoyed sentiment.
The 30-share index, which had lost 115.13 points in the previous volatile session, gained back 213.52 points, or 0.76 per cent, to 28,285.45.
All sectoral indices led by metal, IT and realty were in the positive zone, rising up to 1.73 per cent.
The NSE Nifty too climbed 62.55 points, or 0.73 per cent, to 8,579.45.
The NSE Nifty too climbed 62.55 points, or 0.73 per cent, to 8,579.45.
Bharti Airtel was trading 2.88 per cent higher at Rs 425.60 after the company on Tuesday reported about a 40 per cent jump in consolidated net profit at Rs 1,554.3 crore in the first quarter of the current fiscal.
Meanwhile, in its third bi-monthly policy review of this fiscal yesterday, RBI kept the short-term lending rate, or repo rate, unchanged at 7.25 per cent and the cash reserve ratio (CRR), the amount of deposits lenders park with RBI, at 4 per cent.
Retaining the growth forecast at 7.6 per cent for 2015-16, the central bank said the outlook is improving gradually.
In other markets in Asia, Hong Kong's Hang Seng ticked up 0.22 per cent while Japan's Nikkei rose 0.81 per cent in early trade today.
The US Dow Jones Industrial Average was down 0.27 per cent in Tuesday's trade.
Other Latest News
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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.
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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.
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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.
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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.
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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.
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