Sensex keeps its chin up, bounces 126 points on value-buying
.jpg)
MUMBAI: Defying an overall weakness across global markets, the benchmark BSE Sensex surged and recovered about 126 points in early trade on Thursday, snapping its 3-session losing spell, mainly on the back of value-buying by retail investors in recently beaten-down stocks.
The 30-share barometer was up 125.76 points, or 0.50 per cent, at 25,227.49, with sectoral indices in healthcare, capital goods, auto, banking, FMCG, power and IT leading the recovery, rising by up to 0.92 per cent.
The Sensex had lost 505 points in the previous three sessions.
Sun Pharma, Tata Motors, HDFC, Lupin, ONGC, NTPC, Dr Reddy's, Hero MotoCorp, ICICI Bank, RIL, SBI and Hindustan Unilever played a big role in adding muscle to the build-up.
The NSE Nifty too quoted 30.20 points, or 0.39 per cent, higher at 7,736.75.
Brokers said value-buying in select blue-chip stocks by retail investors and funds made turned better. However, weakness in rest of Asia, which saw more losses following another round of sell-off in New York and Europe hit by global growth concerns, restricted the upward movement here.
Hong Kong's Hang Seng fell 0.45 per cent while Shanghai Composite edged lower 0.32 per cent in early hours today. Japanese financial markets are shut today for a public holiday.
The US Dow Jones Industrial Average ended 0.56 per cent lower yesterday.
Other Latest News
.webp)
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.
.webp)
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.
.webp)
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.
.webp)
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.
.webp)
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.
.webp)
.webp)
.webp)
.webp)
.webp)
