Sensex surges 300 points; Nifty above crucial 8000-mark as US hold rates
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The benchmark Sensex surges 338.68 points to 26,305.84 points in the early morning trade on Thursday. Nifty breaches the crucial 8,000-mark, up 105.2 points to 8,004.35 points.
The rise came on the back of increased selling of dollar by exporters and banks, which resulted after Federal Federal Reserve decided against increasing interest rates. The decision was made on taking into account the current volatile global market, which is heavily weighed by the China's slowdown.
The S&P BSE Bankex was up around 480 points at 19909.55 points.
At 0955 hours, BSE MidCap is up 128 points at 10681.22 points, while as S&P BSE SmallCap is at 10804.88 points, up 119.28 points.
Axis Bank, Bank Baroda, ICICI Bank , SBIN and HDFC Bank are top gainers at the 50-share barometer, while as Tata Motors, Cairn, Gail, Bajaj-Auto and Hindunilvr are in the red.
The rupee strengthened by 32 paise to 66.14 against the US dollar in early trade on Friday at the Interbank Foreign Exchange.
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Zydus Lifesciences Ltd on Friday announced an exclusive licensing and supply agreement with MSN Laboratories for generic cancer treatment drug Cabozantinib tablets, for the US market.
The company's wholly-owned subsidiary, Zydus Lifesciences Global FZE, has entered into an exclusive licensing and supply agreement with MSN Laboratories for Cabozantinib tablets for the US market, Zydus Lifesciences Ltd said in a regulatory filing.
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Prime Minister Narendra Modi on Friday targeted the opposition INDIA bloc, saying they are in the fray to create instability while the BJP-NDA alliance is dedicated to national interest.
Asserting that his government is going to score a hat-trick, Modi said in the new government, he has to take many big decisions for the poor, youth, women and farmers, and for that he has come here to seek the blessings of the people of Barabanki and Mohanlalganj.
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Twitter has moved over to X domain. The move followed brand renaming exercise, which happened in July 2023 soon after Elon Musk took over as CEO of the social media platform. Elon Musk rebranded Twitter to X in July 2023, but Twitter domain remained in service since switching domain has not been as easy going as the logo switch. Now, however, Elon Musk has confirmed on X that all core systems of the platform have been moved over to “X.com”.
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JK Paper stock surges: Shares of JK Paper soared 8.87 per cent to an intraday high of Rs 380.96 per share on the BSE on Friday.
While the paper company posted a weak set of results, the management reportedly said that it expects higher volume growth in the paper and boards segment in the current financial year of 2024-25 (FY25).
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Stock broking platform Angel One on Thursday announced the launch of an edutainment financial content platform, Fin One, that features financial content aimed at serving a cohort of Generation Z and millennial users.
Fin One aims to deliver financial infotainment content with interactive modules for budgeting, saving, investing, and debt management. The content will consist of interactive quizzes and challenges around finance.
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