Sensex rises over 400 points on hopes of good monsoon season
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The market on Wednesday opened on strong note building hopes for a good monsoon. The Sensex rolled up 301.24 points or 1.2% at 25446.83, and the Nifty gained 82.80 points or one per cent at 7791.75.
At 1059 hours the Sensex was up 412.63 points or 1.64% at 25,558.22. While on NSE at 1101 hours was up 125.65 points or 1.63% at 7,834.60.
Shares amongst the gainers list were ICICI Bank, Wipro, Hindalco, ONGC and SBI.
The Indian rupee gained in the early trade. It opened higher by eight paise at 66.35 per dollar versus 66.43 on Tuesday.
The dollar rebounded from a more than seven-month low against a basket of currencies led by gains versus the safe-haven yen.
Gains in oil also drove a rally in commodity-linked currencies such as the Australian and Canadian dollars. Asia markets traded higher, after a rise in oil prices powered gains in US equities overnight.
The US market also ended higher following a surge in energy stocks. The Dow Jones closed up in triple digits.
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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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