Sensex down 51 points in early trade on weak Asian cues
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MUMBAI: Benchmark BSE Sensex fell about 51 points in early trade on Tuesday on profit-booking in consumer durables, IT, metal and banking stocks amid weak Asian cues as investors turned cautious ahead of key policy meetings of the Federal Reserve and Japanese central bank.
The 30-share index fell 50.70 points or 0.17 per cent to 28,583.80. The gauge had gained 280.96 points in the previous four sessions.
The NSE Nifty broke below the 8,800-mark falling 23.90 points, or 0.27 per cent, to 8,784.50.
Equity brokers said that besides trimming of positions in recent gainers by participants at existing levels, weak trend in other Asian markets dampened sentiments here as investors awaited upcoming US and Japanese central bank meetings.
Among other Asian markets, Japan's Nikkei was down 0.70 per cent while Shanghai Composite Index shed 0.30 per cent in morning trade on Tuesday. Hong Kong's Hang Seng too fell 0.15 per cent.
The US Dow Jones ended 0.02 per cent lower in Monday'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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