BSE Sensex recovers 155 points in late morning trade
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The BSE benchmark Sensex recovered 155 points to quote at 29,787 in post noon trade as fresh buying by investors led to widespread gains ahead of the earnings season.
Domestic bourses bucked the weak trend witnessed in most of the Asian markets.
Sectoral indices such as IT, technology, telecom, refinery and power witnessed robust buying.
IT major Infosys rose 1.48 per cent. The company will release its Q4 results on Thursday.
The 30-share index resumed higher at 29,630.06 and hovered in a range of 29,787.05 and 29,570.58 before quoting at 29,730.47 at 1234 hours, showing a gain of 154.73 points or 0.52 per cent.
The gauge had dropped by 398.50 points of 1.33 per cent in previous three days.
The NSE Nifty also moved up by 35.40 points or 0.39 per cent to quote at 9,216.85 at 1234 hours.
Major gainers were ITC 1.74 per cent, Infosys 1.48 per cent, HDFC 1.16 per cent, Wipro 1.05 per cent and ICICI Bank 0.94 per cent.
Overseas, Asian stocks declined as rising tensions in the Middle East and political uncertainty in Europe kept investors on edge, underpinning safe assets such as the yen, gold and treasuries.
US stocks closed fractionally higher yesterday amid geopolitical tensions, while investors looked ahead to the start of earnings season.
Meanwhile, the foreign funds sold net Rs 716.19 crores yesterday, as per the provisional figure issued by stock exchanges.
Other Latest News
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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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