Category: BUSINESS

Benchmark stock indices Sensex and Nifty pared their early gains to settle lower in choppy trade on the last day of the 2021-22 fiscal on Thursday mainly due to profit-taking in Reliance Industries, Infosys and HDFC Bank after a three-day rally. Ending its three-day winning run, the 30-share BSE Sensex declined by 115.48 points or 0.20 per cent to settle at 58,568.51 amid the expiry of monthly derivatives contracts. During the day, it touched a high of 58,890.92 and a low of 58,485.79. The broader NSE Nifty declined by 33.50…

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 Equity benchmark Sensex surged past the 57,000-mark by rallying over 1,000 points on Thursday, tracking an overall bullish trend in global equities despite the US Federal Reserve hiking rates. The 30-share BSE index closed 1,047.28 points or 1.84 per cent higher at 57,863.93. Likewise, the NSE Nifty surged 311.70 points or 1.84 per cent to end at 17,287.05. HDFC was the top gainer in the Sensex pack, spurting 5.50 per cent, followed by Titan, Reliance, Kotak Bank, Asian Paints, Sun Pharma and Tata Steel. On the other hand, Infosys and…

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The government has appointed State Bank of India (SBI) managing director Ashwani Bhatia as whole-time member (WTM) of the Securities and Exchange Board of India (SEBI). The Appointments Committee of the Cabinet (ACC) has approved the appointment of Bhatia as a member initially for a period of three years from the date of assumption of charge, sources said. With Bhatia getting appointed as WTM, there is now only one post of WTM left to be filled in SEBI, sources said. Bhatia, who is due to retire in May, this year,…

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Equity benchmark indices continued their winning momentum on Thursday and jumped nearly 3 per cent in the opening trade, tracking an overall bullish trend in global markets. The 30-share BSE benchmark index opened in the green and further zoomed 1,595.14 points or 2.91 per cent to 56,242.47, continuing its rally for the third day. Similarly, the NSE Nifty jumped 411.95 points or 2.52 per cent to 16,757.30. From the 30-share Sensex pack, Axis Bank, State Bank of India, ICICI Bank, Indusind Bank, Maruti Suzuki India and Hindustan Unilever Limited were…

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 Equity benchmarks Sensex and Nifty fell for the fifth straight session on Tuesday in tandem with weak global trends as simmering tensions between Russia and Ukraine kept investors on the sidelines. The 30-share BSE Sensex opened on a weak note and further tumbled 432.36 points or 0.81 per cent to 52,410.39 amid firming oil prices and relentless selling by foreign institutional investors. Similarly, the broader NSE Nifty declined 115.75 points or 0.72 per cent to 15,747.40 in opening trade. On Monday, the Sensex ended at 52,842.75, down 1,491.06 points or…

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Equity benchmarks Sensex and Nifty tumbled nearly 3 per cent in opening trade on Monday tracking weak global markets and elevated oil prices amid the Russia-Ukraine conflict. Extending its downtrend for the fourth straight session on Monday, the 30-share BSE Sensex opened on a weak note and slumped 1,620.73 points or 2.98 per cent to 52,713.08. Similarly, the broader NSE Nifty tanked 447.05 points or 2.75 per cent and slipped below the 16,000 level to 15,798.30. Sensex tanked 1,453.51 points to 52,880.30 in opening trade, while the Nifty plunged over…

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Equity indices relinquished early gains to close in the red for the second straight session on Thursday as surging oil prices amid the ongoing conflict between Russia and Ukraine sapped risk appetite. Crude oil prices ratcheted up towards the USD 120 per barrel mark on fears of supply disruptions as western nations tightened sanctions on Russia, which accounts for around 10 per cent of global oil output. A weakening rupee and persistent foreign fund outflows also weighed on sentiment, traders said. The 30-share BSE Sensex started the trade on a…

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India’s power consumption growth remained subdued at 2.2 per cent year-on-year in February to 105.54 billion units (BU), showing the impact of local restrictions imposed by the states due to the third wave of COVID-19. Power consumption in February 2021 was 103.25 BU, a tad lower than 103.81 BU in the same month of 2020, as per the power ministry data. According to the data, peak power demand met or highest supply in a day rose to 193.64 GW in the month under review compared to 187.97 GW in February…

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MG Motor India on Tuesday said its retail sales increased 5 per cent year-on-year to 4,528 units in February. The automaker had retailed 4,329 units in February 2021. “The demand remains robust as the company has garnered a healthy booking pace and is experiencing a promising growth momentum while working its way through the supply chain constraints,” MG Motor India said in a statement. It noted that Astor has attained a strong interest among the buyers, and the company is continuously working to increase the supply of the model to…

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Domestic equity benchmarks Sensex and Nifty rebounded over 2 per cent in opening trade on Friday in line with higher Asian bourses as investors assessed long-term risks of the Ukraine conflict. The BSE Sensex climbed 1,140.58 points or 2.09 per cent to trade at 55,670.49 in opening deals, and the NSE Nifty traded higher by 344.10 points or 2.12 per cent at 16,592.05. On the Sensex chart, IndusInd Bank, Tata Steel, Bajaj Finance, Bajaj FinServ and SBI emerged as top gainers — rising as much as 6 per cent. On…

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