Sensex rises over 400 points on hopes of good monsoon season
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The market on Wednesday opened on strong note building hopes for a good monsoon. The Sensex rolled up 301.24 points or 1.2% at 25446.83, and the Nifty gained 82.80 points or one per cent at 7791.75.
At 1059 hours the Sensex was up 412.63 points or 1.64% at 25,558.22. While on NSE at 1101 hours was up 125.65 points or 1.63% at 7,834.60.
Shares amongst the gainers list were ICICI Bank, Wipro, Hindalco, ONGC and SBI.
The Indian rupee gained in the early trade. It opened higher by eight paise at 66.35 per dollar versus 66.43 on Tuesday.
The dollar rebounded from a more than seven-month low against a basket of currencies led by gains versus the safe-haven yen.
Gains in oil also drove a rally in commodity-linked currencies such as the Australian and Canadian dollars. Asia markets traded higher, after a rise in oil prices powered gains in US equities overnight.
The US market also ended higher following a surge in energy stocks. The Dow Jones closed up in triple digits.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
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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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