Volatile Sensex holds 25500; HDFC Bank, Sun Pharma up 2%
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Equity benchmarks continued to be in positive terrain supported by HDFC twins and auto stocks. The Sensex rose 67.47 points to 25541.36 and the Nifty gained 10.10 points at 7636.95.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.4 percent and 0.5 percent, respectively. About 1700 shares have advanced, 1327 shares declined, and 95 shares are unchanged.
Hindalco Industries extended gains to 3.7 percent followed by HDFC Bank, Sun Pharma, HDFC, TCS and Jindal Steel with 1-3 percent while Bharti Airtel, Coal India, Axis Bank, BHEL, Tata Power and Bank of Baroda lost 1-3 percent.
Infosys remained under pressure on profit booking as it already priced in appointment of Vishal Sikka as CEO and MD of the company. Today intraday it gained 4 percent, in addition to 3.7 percent upmove in previous session.
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PDP president Mehbooba Mufti on Saturday claimed that outgoing calls on her mobile number have been suspended without any explanation.
"I am not able to make any calls since morning. There is no explanation for this sudden suspension of services on the day of polling in the Anantnag Lok Sabha constituency," Mehbooba told PTI.
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As the sixth and penultimate phase of polling for the Lok Sabha elections got underway at 7 am on Saturday, Prime Minister Narendra Modi urged voters to come out in large numbers and exercise their franchise.
In a post on X, the Prime Minister said "I urge all those who are voting in the 6th phase of the 2024 Lok Sabha elections to vote in large numbers. Every vote counts, make yours count too! Democracy thrives when its people are engaged and active in the electoral process. I especially urge women voters and youth voters to vote in large numbers."
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Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter.
SpaceX is discussing a tender offer — a transaction that enables employees and insiders like investors to sell shares — that may kick off in June, said some of the people, who asked not to be identified because the information is confidential.
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Congress president Mallikarjun Kharge urged people to cast their ballot in the sixth phase of the Lok Sabha polls on Saturday and vote against the politics of hatred, rhetoric and distraction.
Kharge said that in the last five phases, the "dictatorial forces" were "deeply shaken".
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Adani Ports and Special Economic Zone (SEZ) will replace Wipro in the benchmark 30-share Sensex, index tracker Asia Index said in a notification on Friday.
This is the first time a Gautam Adani-owned company will be added to the widely tracked Sensex index. The change will become effective from June 24.
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