Sensex up over 1%, Nifty reclaims 8,600 on fund inflows
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Market benchmark Sensex rallied over 31 points to 27,945.40 and its counterpart NSE Nifty regained the 8,600-mark in early session on Friday on a fresh spell of buying in select blue-chips by investors amid sustained foreign fund inflows.
Besides, a firming trend in rest of Asia after the Bank of England announced a interest rate cut and fresh stimulus package to counter the fallout from Britain's vote to quit the European Union also lifted sentiment here, brokers said.
The 30-share index was trading up 231.03 points, or 0.83%, at 27,945.40, with all sectoral indices led by metal, banking, auto, PSU and power staying in the green, rising by up to 1.25%.
The gauge had gained 16.86 points in the previous volatile session.
The NSE Nifty-50 index was trading higher by 78.15 points, or 0.91%, at 8,629.25.
Investors sentiment also got a boost after the long-pending indirect tax reform Goods and Services Tax (GST) Constitutional Amendment bill was passed by Rajya Sabha on Wednesday.
Meanwhile, Moody's investors Service on Thursday, said the GST implementation will be positive for the country's economic growth without any significant impact on inflation.
Hong Kong's Hang Seng climbed 1.31% while Japan's Nikkei was up 0.28% in early trade on Friday. China's main Shanghai Composite, however, shed 0.20%.
The US Dow Jones Industrial Average ended 0.02% lower in Thursday'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.
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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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