Sensex at all-time high, goes beyond 36,800 mark, Nifty touches 11,134.95
Posted on 24th July 2018 |
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The domestic equity markets started Tuesday's trade on a strong note with the BSE Sensex going beyond the 36,800 mark for the first time ever, Nifty50 touched 11, 134.95 mark. In just few minutes, Sensex was at 36,816.53 level, with a gain of 97.93 pointswhile Nifty was at 11,115.50, up 30.75 points.
Among the major gainers on Nifty were Bharat Petroleum, UltraTech Cement, Infosys, YES Bank and Tech Mahindra. In Tuesday's session, most of the sectorial indices opened in green. IT and infrastructure firms registered major gains. Midcaps, meanwhile, have opened higher, with the index rising around 0.20 percent.
On Monday, strong gains were registered in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki also helped the index touch record levels.
"Reducing GST rates and positive cues from ongoing result season supported the market," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.
"Consumption-oriented sector inched higher in expectation of improvement in margin and volume growth on account of lower GST rates. Subsequently, inflation is likely to moderate which will refrain RBI from further tightening," he said further.
Banking stocks ICICI Bank, SBI, IndusInd Bank, Axis Bank and Kotak Mahindra rose after lenders entered into a pact with financial institutions to fast-track resolution of stressed assets of Rs 50 crore or more which are under consortium lending.
The GST Council on Saturday cut rates on over 100 items, including footwear, refrigerator, washing machine and small screen TV, while exempting the widely demanded sanitary napkins from the levy. The revised tax rates will come into effect from July 27.
Trading sentiment was also upbeat after the no-confidence motion was comfortably defeated in the Lok Sabha on Friday, brokers said.Vedanta Ltd hogged the limelight by surging 4.42 per cent, followed by Adani Ports at 3.83 per cent. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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