Sensex up nearly 0.5%, Nifty above 8,700 ahead of RBI policy meet
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Market benchmark Sensex rose almost 137 points and the NSE Nifty retook the 8,700-mark on Monday morning on optimistic buying by participants ahead of RBI policy review on Tuesday amid increased foreign capital inflows.
Firm Asian cues tracking record closing in the US after strong employment numbers released on Friday bolstered sentiment.
Rising for the third straight day, the 30-share index advanced 136.83 points, or 0.48%, to 28,215.18, with oil and gas, metal, auto, FMCG, banking and PSU stocks leading the gainers' brigade.
The gauge had gained 380.84 points in the previous two sessions.
The NSE Nifty also perked up 38.05 points, or 0.43 per cent, to 8,721.20.
Brokers said widening of bets by investors and funds ahead of RBI's bi-monthly monetary policy review due tomorrow and continued foreign fund inflows added to the positive mood. Hero MotoCorp was trading higher by 0.83% at Rs 3,462.90 ahead of its quarterly earnings, to be released later in the day today.
Among other Asian markets, Hong Kong's Hang Seng was up 1.21% while Japan's Nikkei surged 1.99% in early trade today. Shanghai Composite too rose 0.27%.
The US Dow Jones Industrial Average ended 1.04% higher on Friday.
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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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