Sensex opens at new 52-week high, Nifty climbs over 8,900-mark
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Sensex, on Thursday, opened at 29132.58, higher than yesterday's close at 28,984.49. It was up by over 148.09 points a few minutes into trading.
The Nifty, which had closed at 8,945.80 points climbed 41.90 points 8,987.70.
On Wednesday, a monthly Purchasing Managers' Index (PMI) survey showed that India's manufacturing sector grew to 50.7, for the second straight month in February which kept investor's sentiments buoyed. Meanwhile, US President Donald Trump, in his address to the Congress, took a more measured tone, saying he is open to immigration reforms. Robust GDP data for the December quarter allayed market fears as the Sensex yesterday rallied over 241 points to end at about a six-month high of 28,985 amid firm global cues. The impact was such that even the broader NSE Nifty took back the 8,900-mark.
All the sectoral indices, led by metal, auto, oil & gas and consumer durables, were trading in positive zone with gains of up to 1.33%.
Among other Asian markets, Hong Kong's Hang Seng was up 0.34%, while Japan's Nikkei rose 1.29% in early trade today. Shanghai Composite Index too gained 0.11%. The US Dow Jones Industrial Average ended 1.46% higher in Wednesday's trade.
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The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The dollar rose as far as 160.245 yen in a sudden move after the yen traded in a narrow 158.05-158.15 range in early deals.
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Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died on Monday, family sources said.
The 76-year-old Lok Sabha member from Chamarajnagar was ailing for some time and being treated at a private hospital, where he passed away early today.
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Concerned over slow progress, the lenders of debt-ridden Reliance Capital (RCAP) have asked the Hinduja Group arm, IndusInd International Holdings Ltd, to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27.
In a meeting held in Mumbai on Friday with the senior officials of IndusInd International Holdings' (IIHL), the lenders of RCAP said the company has to make a payment of Rs 9,650 crore to them by the said date, a source said.
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The BJP will benefit from the anti-incumbency against the Biju Janata Dal government, which is in power for an unbroken 24 years in Odisha, and a strong Modi wave to dethrone Naveen Patnaik from the helm of the state, senior saffron party leader Vijaypal Singh Tomar claimed.
In an interview with PTI, Tomar said, "There is anti-incumbency and people in Odisha have decided to change the BJD government this time. Similarly, there is a strong Modi wave across India, which has also been strongly felt in this state."
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A senior TDP leader has said the priority of the party is to "rebuild" Andhra Pradesh and take the state out of the debt trap by getting rid of the YSR Congress Party (YSRCP) government.
Telugu Desam Party (TDP) National Coordinator (Election) and ex-Rajya Sabha MP Kanakamedal Ravindra Kumar said Andhra Pradesh has suffered more losses during the Jagan Mohan Reddy government than during the creation of the two Telugu states in 2014 when resources were shared with Telangana.
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