BSE, NSE open flat post new RBI Guv announcement
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The domestic stock markets have opened nearly flat from their Friday closes in the first trading session after the next Reserve Bank of India Governor was announced.
The 30-share benchmark BSE Sensex opened at 28,129.33, up 52.33 points or 0.19% higher from its Friday's close. The index had closed the week at 28,088.07, up 11.07 points or 0.04% higher.
In early trade, National Stock Exchange's broader 50-share Nifty was trading at 8,668.70 up 1.80 or 0.02%.
The government announced that the current RBI Deputy Governor Urjit Patel would take over as the next governor once outbound Raghuram Rajan steps down on September 4 at the end of his three-year term.
Patel's appointment announcement came from the government on a Saturday, presumably to avoid any knee-jerk reaction from the markets. Rajan's surprise open letter to the RBI employees, telling them that he wouldn't be seeking a second term, also came on a Saturday, probably for the same reason. His last day, September 4, is, however, a Sunday.
The domestic markets were weighed down by the weakness in the Asian markets. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, after losing 0.3% last week, a Reuters report said.
Japan's Nikkei rose 0.3% in early trade, taking solace from a weaker currency, but then shed the gains, it added.
The top gainers on BSE were Oberoi Realty 5.74%, Biocon 2.45%, Fortis Healthcare 2.40%, Sanofi 2.20%.
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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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