Category: BUSINESS

Equity benchmark Sensex rose over 100 points in opening trade on Thursday, tracking gains in index-heavyweights HDFC twins, L&T and Reliance Industries amid largely positive cues from global markets and sustained foreign fund inflows. The 30-share BSE index was trading 120.03 points or 0.27 per cent higher at 43,948.13. Similarly, the broader NSE Nifty was 37.70 points or 0.29 per cent up at 12,896.10. Bajaj Auto was the top gainer in the Sensex pack, rising around 2 per cent, followed by M&M, L&T, HDFC, Bharti Airtel, Sun Pharma, UltraTech Cement,…

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The rupee appreciated 6 paise to 73.95 against the US dollar in the opening session on Wednesday on sustained foreign fund inflows and positive development on the coronavirus vaccine front. Traders said strong domestic equities, sustained foreign fund inflows and weak American currency also supported the rupee. At the interbank forex market, the domestic unit opened at 73.98 against the US dollar, and gained ground to touch 73.95 against the greenback, registering a rise of 6 paise over its previous close. On Tuesday, the rupee appreciated by 10 paise to…

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Equity benchmark Sensex rallied over 250 points in opening trade on Tuesday, tracking gains in index-heavyweights HDFC Bank, Maruti, ONGC and Axis Bank amid positive cues from global markets and unabated foreign fund inflows. After touching a lifetime intra-day high of 44,358.71, the 30-share BSE index was trading 271.48 points or 0.62 per cent higher at 44,348.63 in the opening session. Similarly, the broader NSE Nifty touched the 13,000 mark for the first time ever as it rose 76.65 points or 0.59 per cent to 13,003.10. HDFC Bank was the…

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Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed…

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Equity indices resumed their upward trajectory on Friday after a day’s pause as banking, finance and telecom counters saw robust demand amid mixed global cues. A recovering rupee and unabated foreign fund inflows added to the momentum, traders said. After a choppy session, the 30-share BSE Sensex ended 282.29 points or 0.65 per cent higher at 43,882.25. Similarly, the broader NSE Nifty rose 87.35 points or 0.68 per cent to close at 12,859.05. Bajaj Finserv was the top gainer in the Sensex pack, rallying 9.13 per cent, followed by Titan,…

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The rupee depreciated 9 paise to 74.27 against the US dollar in opening trade on Wednesday, owing to increased demand of the greenback by banks and importers amid strengthening crude prices. However, positive trend in the domestic equity market and a weak US dollar supported the local unit and capped the fall, forex dealers said. At the interbank forex market, the rupee opened lower at 74.24 against the US dollar, then slipped further to 74.27 in early deals, registering a fall of 9 paise over its last close. In the…

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The rupee appreciated by 14 paise to 73.94 against the US dollar in opening trade on Monday, tracking a massive rally in domestic equity markets after Joe Biden was declared as the winner of the US presidential election. Forex dealers said a weak dollar overseas and persistent foreign fund inflows also supported the local unit. At the interbank forex market, the domestic unit opened strong at 73.95 against the US dollar, then gained a little more to 73.94, registering a rise of 14 paise over its previous close. In the…

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Former union minister Suresh Prabhu has asked Agriculture Minister Narendra Singh Tomar to set up an All India Coordinated Research Project (AICRP) on bamboo with a view to promote the growth of the sector. Prabhu launched an independent India Bamboo Forum (IBF) last month with an aim to give a boost to the bamboo sector by promoting entrepreneurship, research, and trade of high quality bamboo products in a sustainable manner. In a letter to Tomar, Prabhu said that the forum is working with different stakeholders, policy makers and industry to…

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The rupee strengthened by 44 paise to 73.92 against the US dollar in opening trade on Friday, supported by foreign portfolio flows even as investors continued to wait for the outcome of the US elections. Traders said positive domestic equities and expectation of Joe Biden’s victory in the US presidential election supported the local unit. At the interbank forex market, the domestic unit opened at 73.99 against the US dollar, then gained further ground and touched 73.92, registering a rise of 44 paise over its previous close. On Thursday, the…

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Equity benchmark Sensex rallied over 500 points in early trade on Thursday, tracking gains in index-heavyweights Reliance Industries, Infosys and SBI, amid positive cues from global markets. The 30-share BSE index was trading 513.84 points or 1.27 per cent higher at 41,129.98. Similarly, the broader NSE Nifty climbed 143.20 points or 1.20 per cent to 12,051.70. SBI was the top gainer in the Sensex pack, surging over 5 per cent, followed by HCL Tech, Tech Mahindra, Asian Paints, Infosys, Tata Steel, TCS and Reliance Industries. On the other hand, ONGC…

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