LIVE: BSE Sensex soars over 250 points; NSE Nifty up over 70 points
.jpg)
Recovering from nearly 8-month lows, the benchmark BSE Sensex gained over 250 points in late morning trade today, snapping its 6-session losing streak, on the back of a rebound in blue-chip stocks following value buying and positive cues from other Asian markets.
At 11:40 am, BSE Sensex rose 257.79 points or 0.97 per cent to 26739.04. NSE Nifty rose 72.10 points or 0.90 per cent to 8094.50.
At 10:30 am, BSE Sensex rose 293.87 points or 1.11 per cent to 26775.12. NSE Nifty rose 74.55 points or 0.93 per cent to 8096.95.
The mood also brightened after MSCI deferred inclusion of China A stocks to its benchmark indices, rather choosing to sort out regulatory issues, which triggered buying by foreign funds.
The 30-share index, which had lost 1,367.74 points in the previous six straight sessions due to RBI’s cautious stance on inflation and revival, and the spectre of drought, recouped 236.54 points, or 0.89 per cent, at 26,717.79.
Buying in stocks of realty, consumer durables, capital goods, healthcare and banking boosted trading sentiment.
Also, the NSE Nifty pulled back 71 points, or 0.89 per cent, at 8,093.40.
Brokers said value-based buying in blue-chips after recent losses amid a firming trend in other Asian markets helped.
Among other Asian markets, Hong Kong’s Hang Seng was up by 0.23 per cent while Japan’s Nikkei gained 0.38 per cent in early trade.
The US Dow Jones Industrial Average, however, ended 0.01 per cent lower in yesterday’s trade.
Other Latest News
.webp)
The BJP will benefit from the anti-incumbency against the Biju Janata Dal government, which is in power for an unbroken 24 years in Odisha, and a strong Modi wave to dethrone Naveen Patnaik from the helm of the state, senior saffron party leader Vijaypal Singh Tomar claimed.
In an interview with PTI, Tomar said, "There is anti-incumbency and people in Odisha have decided to change the BJD government this time. Similarly, there is a strong Modi wave across India, which has also been strongly felt in this state."
.webp)
A senior TDP leader has said the priority of the party is to "rebuild" Andhra Pradesh and take the state out of the debt trap by getting rid of the YSR Congress Party (YSRCP) government.
Telugu Desam Party (TDP) National Coordinator (Election) and ex-Rajya Sabha MP Kanakamedal Ravindra Kumar said Andhra Pradesh has suffered more losses during the Jagan Mohan Reddy government than during the creation of the two Telugu states in 2014 when resources were shared with Telangana.
.webp)
The Supreme Court on Friday issued a notice to the Election Commission of India (ECI) regarding a plea seeking to frame rules in case ‘None of the Above' (Nota) option gets the majority in elections.
Motivational speaker Shiv Khera has petitioned that the ECI treat Nota as a "fictional candidate" and to establish guidelines for conducting re-elections in constituencies where Nota garners a majority.
.webp)
The just-concluded follow-on public offer (FPO) of Vodafone Idea Limited (VIL) has not only brought relief to the struggling telecom operator but also to the three investment banks that managed the Rs 18,000 crore share sale. According to the final prospectus filed by the Mumbai-based firm, it has paid Rs 287 crore, 1.6 per cent of the issue size, as book running lead manager (BRLM) fees.
This, according to PRIME Database, is the second-highest BRLM fee paid for a domestic FPO or an initial public offering (IPO).
.webp)
India’s largest non-banking financial company Shriram Finance on Friday reported a 57 per cent year-on-year (Y-o-Y) jump in its consolidated net profit for the fourth quarter of 2023-24.
In Q4 of FY24, the consolidated net profit of Shriram Finance stood at Rs 2,021.28 crore as against Rs 1,288.18 crore recorded in the same period of the previous year, due to rise in income and improved asset quality.
.webp)
.webp)
.webp)
.webp)
.webp)
