Sensex climbs 74 points in opening trade
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The Sensex rose 74 points early on Thursday on buying pick-up as investors shrugged off weak Asian cues after the US Fed hiked its key rate.
An appreciating rupee brought more cheer.
The 30-share index, which had gained 60.21 points in the previous two sessions, added 73.53 points, or 0.23 per cent, at 31,229.44.
Counters such as realty, oil and gas, auto, healthcare and FMCG traded positive.
The NSE Nifty too edged up by 3.25 points, or 0.03 per cent, at 9,621.40.
But caution set in after the Federal Reserve raised interest rates by 25 bps and announced its plans to start paring its bond holdings.
Major gainers that supported the indices were Bharti Airtel, Adani Ports, NTPC, Dr Reddy’s, Cipla, Hero MotoCorp, RIL, ITC and Hind Unilever, rising by up to 1.37 per cent.
Traders said building of fresh long positions amid continued buying by domestic institutional investors (DIIs) kept bullish sentiment intact.
The DIIs bought shares worth a net Rs 71.65 crore while foreign portfolio investors (FPIs) sold shares worth Rs 161.13 crore on Wednesday, as per provisional data.
Japan’s Nikkei fell 0.43 per cent while Shanghai Composite shed 0.05 per cent in the initial session on Thursday. Hong Kong too declined 0.98 per cent.
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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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