NSE Nifty soars to new record, hits 9,000-mark for first time
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India’s broader NSE Nifty index rose to a record high on Tuesday led by gains in Reliance Industries after CLSA said the conglomerate could report a record profit for the fourth quarter, while hopes of higher weightage in the MSCI index also helped.
The 50-share index rose as much as 0.45 pct to 8,996.80, surpassing its previous record high of 8,996.60 hit on Jan. 30.
The benchmark BSE index also gained as much as 0.52 percent at 29,613 but was still 0.78 percent away from its all-time high of 29,844.16 hit on Jan. 30.
Traders said they were waiting for clarity on the central bank’s stance on rate cuts after it formally adopted inflation targeting and the government pushed its fiscal deficit target by a year to focus on infrastructure spending.
Other Latest News
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AstraZeneca's Covid-19 prevention therapy reduced the risk of infection in patients with weaker immunity in a late-stage trial, meeting its primary goal, the drugmaker said on Thursday.
The long-acting antibody therapy called sipavibart showed a "statistically significant reduction" in symptomatic Covid-19 cases among immunocompromised patients, the company said.
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Holding a roadshow in the Odisha capital in support of party candidates, BJP president J P Nadda on Thursday asserted that people of the state have "decided to give rest" to Chief Minister Naveen Patnaik by electing the saffron party to power.
Nadda, who was standing in a saffron-coloured open-hood vehicle flanked by Bhubaneswar's BJP MP and candidate Aparajita Sarangi and Ekamra-Bhubaneswar assembly seat's party nominee Babu Singh, was seen waving at crowds on both sides of the road during the roadshow from Mausina Chhak to Lingaraj temple.
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IT company Tech Mahindra on Thursday said it has collaborated with IBM to assist businesses worldwide in responsibly accelerating the adoption of generative AI (GenAI).
Under the partnership, TechM amplifAI and IBM watsonx will integrate to bring new GenAI and governance capabilities to enterprises, according to a company statement.
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Congress veteran Bhupinder Singh Hooda on Thursday said people are looking at his party with great hope and it is set for a clean sweep in Haryana in the Lok Sabha elections.
The former chief minister said the Congress is receiving overwhelming public support.
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The State Bank of India (SBI) has hiked interest rate on retail term deposits by 25-75 basis points for deposits up to 1 year, giving further push to competition for raising resources.
The revised rates for deposits came into effect from May 15, 2024.
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