Sensex builds on gains, surges 90 points ahead of GDP data
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MUMBAI: The benchmark BSE Sensex surged over 90 points in early trade today, extending its rally to the fourth straight session on continued buying by domestic institutional investors amid expectations of positive GDP data to be released later in the day.
The 30-share index was trading higher by 90.06 points or 0.34%, to 26,484.07 with the sectoral indices led by healthcare, consumer durables, realty, oil & gas and PSUs trading higher.
The gauge had gained 533.84 points in the previous three sessions.
The NSE index Nifty too was up 31.25 points or 0.38% to 8,173.40.
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The Supreme Court will pass an order today on Delhi Chief Minister Arvind Kejriwal's interim bail in the money laundering case registered against him by the Enforcement Directorate (ED) in connection with the Delhi excise policy case.
A bench headed by Justice Sanjiv Khanna on Wednesday told Enforcement Directorate counsel Additional Solicitor General SV Raju that it may pass the order on interim relief to Kejriwal on Friday.
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Andhra Pradesh Chief Electoral Officer (CEO) Mukesh Kumar Meena on Thursday took stock of the arrangements made for the simultaneous Lok Sabha and Assembly elections 72 hours prior to the polling day in the state on May 13.
The CEO called on the officials from across departments to ensure the elections are held in a "peaceful, fair, and exemplary" manner.
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K Krithivasan, chief executive officer (CEO) and managing director of Tata Consultancy Services (TCS), took home a salary of Rs 25.4 crore from India’s largest information technology services firm in financial year 2023-24 (FY24).
Krithivasan took charge of the company on June 1, 2023. The FY24 remuneration includes compensation for the full year, with his service as the company’s global head for banking, financial services and insurance (BFSI) from April 1, 2023 to May 31, 2023, and as CEO and managing director from June 1, 2023 to March 31, 2024, according to TCS's FY24 annual report.
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Shares of gold financing companies -- Muthoot Finance, and Manappuram Finance -- came under heavy selling pressure on Thursday, May 9, after the Reserve Bank of India (RBI) cautioned them against breaching the Rs 20,000-cap on cash loan disbursal.
Muthoot Finance tumbled 8.8 per cent (Rs 1510), while Manappuram Finance shed 8.3 per cent (Rs 165.15) on the BSE in the intraday trade. By comparison, the benchmark S&P BSE Sensex was down 488 points (0.66 per cent) at 10:25 AM.
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The Reserve Bank of India (RBI) has cautioned the non-banking finance companies (NBFCs) extending gold loans against breaching the Rs 20,000 cap on cash loan disbursal.
While issuing the advisory, the central bank referred to the provisions of the Section 269 SS of Income Tax Act, 1961, that stipulates no individual can receive more than Rs 20,000 as loan amount in cash.
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