Sensex surges 300 points; Nifty above crucial 8000-mark as US hold rates
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The benchmark Sensex surges 338.68 points to 26,305.84 points in the early morning trade on Thursday. Nifty breaches the crucial 8,000-mark, up 105.2 points to 8,004.35 points.
The rise came on the back of increased selling of dollar by exporters and banks, which resulted after Federal Federal Reserve decided against increasing interest rates. The decision was made on taking into account the current volatile global market, which is heavily weighed by the China's slowdown.
The S&P BSE Bankex was up around 480 points at 19909.55 points.
At 0955 hours, BSE MidCap is up 128 points at 10681.22 points, while as S&P BSE SmallCap is at 10804.88 points, up 119.28 points.
Axis Bank, Bank Baroda, ICICI Bank , SBIN and HDFC Bank are top gainers at the 50-share barometer, while as Tata Motors, Cairn, Gail, Bajaj-Auto and Hindunilvr are in the red.
The rupee strengthened by 32 paise to 66.14 against the US dollar in early trade on Friday at the Interbank Foreign Exchange.
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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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