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Sensex rises over 150 points; Nifty tests 11,700
Posted on 22nd May 2019
The benchmark BSE Sensex jumped over 150 points in early trade on Wednesday, led by gains in oil and gas, banking and IT stocks, ahead of the general election results.

The 30-share index was trading 157.51 points, or 0.40%, higher at 39,127.31. In similar movement, the broader NSE Nifty rose 30.90 points, or 0.26%, to 11,740. In the previous session, the Sensex ended 382.87 points, or 0.97%, lower at 38,969.80, and the Nifty plunged 119.15 points, or 1.01%, to 11,709.10.

Top Sensex gainers in morning trade include Sun Pharma, Bharti Airtel, ICICI Bank, RIL, HDFC twins, Tata Motors, ONGC, Infosys, Maruti and Kotak Bank, rising up to 1.38%. On the other hand, Yes Bank, IndusInd Bank, ITC, HUL, Bajaj Finance and Tata Steel fell up to 2.84%.

According to experts, investor sentiment turned positive this week after most exit polls forecast a win for Narendra Modi-led NDA. The results of the seven-phase polls will come out Thursday. Continued foreign fund inflow too buoyed market mood here, traders said.

Foreign institutional investors bought equity worth ₹1,185.44 crore on Tuesday, while domestic institutional investors sold shares to the tune of ₹1,090.32 crore, provisional data available with stock exchanges showed. Elsewhere in Asia, bourses in China, Japan and Korea were trading on a mixed note in their respective early sessions.

Benchmarks on Wall Street ended in the green on Tuesday. On the currency front, the rupee appreciated 4 paise to 69.67 against the US dollar in opening trade on Wednesday.

Brent crude, the global benchmark, was trading at 71.81 per barrel, lower by 0.51%.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
PM Modi pitches for structural reforms in agriculture to boost investment
Posted on 15th June 2019
With the farm sector facing headwinds, Prime Minister Narendra Modi on Saturday stressed upon the need for structural reforms in agriculture which would boost private investment, strengthen logistics and provide ample market support to farmers.

Delivering the opening address during the fifth Governing Council meeting of NITI Aayog, PM Modi said that the food processing sector should grow at a faster pace to benefit the farmers.


Importance of Bitcoin futures has been understated, JPMorgan says
Posted on 15th June 2019
Bitcoin futures may be more important than many in the market appreciate, according to JPMorgan Chase & Co.

Recent reports from cryptocurrency asset manager Bitwise and the Blockchain Transparency Institute indicate that only a small percentage of reported trading may be authentic.


Air India spreads its wings, plans flights for Bali, Nairobi and Toronto
Posted on 15th June 2019
Air India plans to launch services from Delhi to Bali, Nairobi and Toronto in the winter schedule as it looks to consolidate its position as the largest carrier on overseas routes from India.

Currently, there is no non-stop service from Delhi to Nairobi and Bali while Air Canada flies daily to Toronto. New services are being proposed as Air India expects the return of its seventeen grounded planes in service by October end.


Indian Oil Corporation in fuel switch drill
Posted on 15th June 2019
Indian Oil plans to set up a diesel exhaust fluid plant in Bengal at an investment of around Rs 150 crore to support the introduction of Bharat Stage-VI compliant fuel from April 1, 2020. The investment is part of the company’s expansion plans in the state across businesses.

RBI asks banks to grout ATMs to wall, pill or floor to enhance security
Posted on 15th June 2019
The Reserve Bank on Friday asked banks to ensure their ATMs are grouted to a wall, pillar, or floor by September-end, except those installed in high secured premises such as airports, to enhance security of the cash vending machines.

In 2016, the RBI had set up a Committee on Currency Movement (CCM) to review the entire gamut of security of treasure in transit.


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