Nifty at a life-time high after US Fed hikes lending rate
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The Sensex rebounded by over 206 points and the NSE Nifty scaled a life-time high of 9,153 (rpt) in opening trade on Thursday amid a firming trend in global markets after the US Fed hiked the key lending rate. The Federal Reserve, as expected, raised the benchmark interest rate by a quarter percentage point, but gave a more dovish outlook for future hikes.
The rupee was in a sweet spot, strengthening by another 47 paise to hit a fresh 16-month high of 65.22 against the dollar. The 30-share index surged 206.40 points, or 0.70%, to 29,604.51. The gauge had shed 44.52 points in the previous session.
All the indices, led by metal, infrastructure and capital goods, advanced with gains up to 1.24%. The NSE index Nifty rallied by 68.10 points, or 0.74%, to trade at an all-time intra-day high of 9,152.90, breaching its previous record of 9,122.75 (intra-day) touched on Tuesday.
The buoyancy is in line with a firming trend at other Asian bourses, tracking overnight gains in the US, after the Federal Reserve went for a rate increase. Besides, a flood of foreign capital in domestic bourses gave a push to the equities, traders added. Japan's Nikkei, however, shed 0.13%. The US Dow Jones Industrial Average ended 0.54% higher on Wednesday.
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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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