Nifty hovers around 8,050; metal shares gain
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Benchmark indices are off day’s high and are trading in a narrow range with positive bias after investors booked profits at higher levels.
The positive trend is led by select buying among IT, Power and Metal segments. However, the upside is capped due to mild selling among banks, capital goods and consumer durables sectors.
At 14:35 pm, the 30-share Sensex was up 68 points at 26,627 and the 50-share Nifty was up 15 points at 8,066.
The broader markets are however outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.3-0.4%. Market breadth was positive with 1,437 gainers and 1,010 losers on the BSE.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 272.67 crore yesterday as per provisional data released by the stock exchanges.
In the currency front, the rupee recovered by 19 paise to 65.40 against the dollar on fresh selling of the American currency by exporters and banks.
On the macro-economic front, the latest data showed that the index of eight core industries comprising nearly 38% of the weight of items included in the index of industrial production (IIP) rose 3.2% in September 2015 over September 2014.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
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The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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