Sensex starts with small gains ahead of expected hike in US interest rates
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The Sensex struck a positive note on Wednesday in the beginning on continued foreign inflows ahead of the expected hike in US interest rates. However, caution prevailed after retail inflation rose to 4-month high of 3.65% in February and that of wholesale prices shot up to a 39-month high of 6.55%.
The Sensex had soared 540.69 points in the previous three sessions following the BJP's landslide win in UP and Uttarakhand. The 30-share index was trading higher by 26.22 points, or 0.08%, at 29,468.85. A number of sectoral indices, led by consumer durables, healthcare, oil and gas, FMCG and infrastructure, were in the positive space.
The NSE index Nifty edged up by 3.40 points, or 0.03%, to 9,090.40. It had touched a life high of 9,087 on Tuesday. The increased buying momentum borne out by the fact that foreign funds purchased shares heavily lifted mood.
Among other Asian markets, Shanghai Composite rose 0.10% while Hong Kong's Hang Seng was down 0.18% in early trade on Wednesday. Japan's Nikkei shed 0.29%. The US Dow Jones Industrial Average also ended 0.21% down on Tuesday.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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