BSE up over 100 points on strong global cues
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The benchmark BSE Sensex continued its upward streak for a second day on the back of strong cues from the global stock markets.
On Wedesnday morning, the 30-share index was above the 28,000-level, a breached on Tuesday. In early trade, the Sensex was at 28,446.09, up 103.08 points or 0.36% from previous day's close.
The markets rallied over 400 points on Tuesday.
In the Asian markets, while the level eased slightly, taking cues from the Wall Street, they were still set for a monthly rise as investors awaited upcoming jobs data from the US. Encouraging data from the US may prompt the US Federal Reserve to increase interest rates as early as September after its Chair Janet Yellen hinted at a hike this year on the back of an improving economy.
Japan's Nikkei stock index added 0.9%, poised to rise 1.8% for the month, as it got a boost from a weaker yen after upbeat US data lifted the dollar overnight. The dollar was steady at 102.93 yen after rising as high as 103.14 yen overnight, its strongest since July 29. It was up 0.9%for the month, a Reuters report said.
On the BSE, the top gainers were HCC 6.10%, Crompton Greaves 3.54%, SREI Infrastructure 3.29%, UltraTech Cement 3.11%. The top losers were, Delta Corp 4.65%, Cox & Kings 1.71%, ONGC 1.12% and TCS, down 1.05%.
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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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