Sensex rebounds 184 points in early trade on Asian cues
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MUMBAI: The benchmark BSE sensex rebounded by over 184 points in early trade on Thursday following a flurry of buying by investors amid positive Asian cues.
A strong reading in the rupee, rising by over 20 paise against the dollar in early trade, also supported the gains.
The 30-share index, which had lost 381.95 points in the previous session, recovered by 184.23 points or 0.72% to 25,666.75 points.
All the sectoral indices led by auto, consumer durables and capital goods rose up to 1.04%.
Similarly, the NSE nifty rose by 60.75 or 0.78% to 7,792.55 points.
Brokers said all-round buying by participants, tracking a rally at the other Asian markets following overnight gains at Wall Street bounced on expectations the Federal Reserve would be confident enough of the US economy to raise rates in December, mainly influenced the sentiment here.
In other markets in Asia, Hong Kong's Hang Seng rallied 1.06% while Japan's Nikkei uptick 1.03% and Shanghai composite index edged by 0.10%.
The US Dow Jones Industrial Average ended 1.42% higher in yesterday's trade.
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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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