Sensex climbs on global cues
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Adding to its rally for the sixth session, the benchmark Sensex zoomed over 201 points on Monday as investors mounted more bullish bets amid good progress in monsoon rains and firming Asian cues.
The 30-share barometer surged 201.10 points, or 0.74 per cent, to 27,346.01. The gauge had gained 747.20 points in the previous five sessions.
Also, the NSE Nifty was trading higher by 57.05 points, or 0.68 per cent, at 8,385.40.
The big movers are ONGC, Tata Motors, GAIL, L&T, ICICI Bank, SBI, Power Grid, Lupin, NTPC, Tata Steel, Infosys, Dr Reddy’s and RIL, gaining by up to 3.50 per cent.
The rupee appreciating against the US dollar by 15 paise to 67.17 in early trade today on sustained selling of the American currency by exporters and banks came as a positive trigger.
Brokers said sustained buying by investors and domestic financial institutions and positive cues from other Asian markets driven by a post-Brexit rally on hopes that central banks will step up stimulus measures bolstered sentiment here.
Good progress in monsoon rains so far kept things upbeat too, they added.
In the rest of Asia, Hong Kong’s Hang Seng rose 1.65 per cent while Japan’s Nikkei gained 0.44 per cent in early trade today. Shanghai Composite was trading 1.52 per cent higher.
The US Dow Jones Industrial Average ended 0.11 per cent higher in Friday’s trade.
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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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