Sensex in green over earnings optimism, ONGC among top gainers
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Key indices on Tuesday opened on a positive note as investors widened their positions ahead of quarterly earnings from some bluechip companies amid positive Asian cues.
Japan’s Nikkei posted the longest winning-streak in its nearly 70-year history as markets cheered election victory of Japanese prime minister Shinzo Abe. Tokyo’s benchmark index rose 1.11% ending at 21696.65.
Moreover, continuous buying by domestic financial institutions also supported trading sentiment.
At 10:47 AM, Sensex was up by 132.34 to reach 32,641.34, while Nifty was tading up by 41.55 to go beyond 10,225.90 points. Sectoral indices led by oil & gas, realty, PSU and metal trading higher.
The top gainers were ONGC, NTPC, Tata Steel, Hindustan Unilever, Axis Bank, Asian Paint, ICICI Bank, Coal India, SBI, Maruti Suzuki, Wipro and Power Grid, rising up to 2.42%.
Domestic institutional investors (DIIs) bought shares worth Rs 307.84 crore in yesterday's trade, as per provisional data issued by the stock exchanges.
Meanwhile, the rupee strengthened by 11 paise to 64.91 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.
Forex dealers said weakness in the dollar against a few currencies overseas as attention turned to who would be the next head of the US central bank, gave some support to the rupee.
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At least nine people were burnt alive and 15 injured when a moving bus caught fire near Tauru in Haryana's Nuh district in the early hours of Saturday, police said.
The incident occurred around 2 am on the Kundli-Manesar-Palwal (KMP) Expressway. The bus was carrying around 60 people, all residents of Punjab's Hoshiarpur and Ludhiana, who were returning from pilgrim towns of Mathura and Vrindavan. All of them are relatives, police said.
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Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to $450 million via sale of dollar bonds, sources said.
JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said.
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The national capital on Saturday morning recorded a minimum temperature of 27.1 degrees Celsius, 0.6 notch above the season's average, according to the India Meteorological Department (IMD).
On Friday, Delhi witnessed 47.4 degrees Celsius in Najafgarh, making it the hottest place in the country.
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Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
The motion called for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, compared to the current level of 4.5 per cent. The increase was proposed at a rate of 0.15 per cent per annum.
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Shares of Zee Entertainment soared up to 5.2 per cent at Rs 141.65 per share on the BSE in Saturday’s intraday trade. The hike in the stock prices came after the company delivered a turnaround in quarterly growth for the January-March quarter of fiscal year 2023-24 (Q4FY24).
In the March quarter, the company reported a consolidated net profit of Rs 13.35 crore, marking a reversal from a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal year.
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