Sensex gains 300 points; Bank Nifty up 2%
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Markets extended gains in morning trades with buying visible across all the sectors in today's trade. At 1030hrs, the Sensex was up 297 points at 25,396 and the Nifty advanced 87 points to trade at 7,595.
29 of 30 stocks are in green on the Sensex with TCS being the only exception, marginally down 0.06%
Shares of oil and gas companies are trading higher by up to 3% as Brent crude prices steadied near US $113/barrel. BPCL, HPCL, IOC and ONGC were up 2-3%.
The rupee is trading at 60.02/03 versus its Friday's close of 60.0850/0950, as the dollar makes losses versus most other Asian currencies.
The rupee is seen holding in a 59.80 to 60.30 range during the session. Demand for the greenback from oil refiners looking to meet month-end demand is expected to limit any sharp downward pressure on the USD/INR pair.
Other Latest News
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As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
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The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
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Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
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Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
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Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
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