Category: BUSINESS

Benchmark indices slipped from higher levels to settle lower on Thursday as investors looked beyond positive political developments and weighed concerns around global trade war and macro-economic indicators.In a highly volatile session, the benchmark BSE Sensex ended 118 points lower, dragged by losses mainly in auto and financial stocks.The NSE Nifty too edged 23 points down to settle below the 12,000-mark.However, on a weekly basis, the Sensex gained 279.4 points and the Nifty rose 78.70 points. Post announcement of key portfolios in newly elected government, focus to shift towards various…

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After a day’s breather, benchmark Sensex Thursday resumed its record-setting spree by rallying 330 points on gains in index heavyweights RIL, HDFC and TCS amid expiry of May derivative contracts.Moreover, sentiment was driven by renewed hopes from the new government as investors have been keenly awaiting the allocation of key portfolios to ministers. Narendra Modi and his council of ministers are all set to take oath at 1900 hours Thursday (rpt) Thursday.After soaring over 400 points, the 30-share index ended 329.92 points, or 0.84 per cent, higher at 39,831.97 —…

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In another setback to Vijay Mallya, the UK High Court has directed the embattled liquor tycoon to pay British beverage giant Diageo over USD 135 million in relation to a collateral arrangement. Diageo is seeking a total of USD 175 million from the 63-year-old businessman and was successful in one aspect of that claim as it was awarded a “summary judgment” by Justice Robin Knowles, who dismissed Mallya’s reliance on an alleged oral promise from Diageo dating back to February 2016. Over and above the USD 135 million, Mallya is…

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US President Donald Trump and Prime Minister Narendra Modi have agreed to meet at the G-20 Summit in Japan next month as both the leaders pledged to further strengthen the US-India strategic partnership and build on the achievements of the last two years.Trump telephoned Modi to congratulate him on the historic electoral victory in the Lok Sabha polls, the White House said Friday.Prime Minister Modi on Thursday led his Bharatiya Janata Party to a landmark victory for a second five-year term in office, winning 302 seats in the 543-member Lok…

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Mumbai, May 23 (DIN NEWS) The benchmark BSE Sensex rallied nearly 800 points and the NSE Nifty soared over 200 points to hit their respective record highs in early trade Thursday, as counting of votes for the Lok Sabha election began. According to traders, investor sentiment was boosted by initial trends that suggested a win for the ruling NDA. Amid market euphoria, the rupee also appreciated 26 paise to 69.40 against the US dollar in opening trade. The 30-share index zoomed over 2 per cent to hit an intra-day high…

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The benchmark BSE Sensex jumped over 150 points in early trade Wednesday, led by gains in oil and gas, banking and IT stocks, ahead of the general election results. The 30-share index was trading 157.51 points, or 0.40 per cent, higher at 39,127.31.In similar movement, the broader NSE Nifty rose 30.90 points, or 0.26 per cent, to 11,740. In the previous session, the Sensex ended 382.87 points, or 0.97 per cent, lower at 38,969.80, and the Nifty plunged 119.15 points, or 1.01 per cent, to 11,709.10. Top Sensex gainers in…

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Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections. The 30-share index ended 1,421.90 points, or 3.75 per cent, higher at 39,352.67. During the day, the gauge hit a high of 39,412.56 and a low of 38,570.04.In a similar movement, the broader NSE Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.A majority of exit polls Sunday forecast another term for Prime Minister…

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The BSE Sensex ended 203.65 points lower after a volatile session Wednesday as investors took money off the table amid mixed global cues.After gyrating over 500 points, the 30-share BSE benchmark closed 203.65 points, or 0.55 per cent, lower at 37,114.88. The index hit an intra-day low of 37,047.87 and a high of 37,559.67.Similarly, the broader NSE Nifty shed 65.05 points, or 0.58 per cent, to settle at 11,157. During the day, the gauge hit a low of 11,136.95 and a high of 11,286.80.Yes Bank and Tata Motors were the…

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Richest Indian Mukesh Ambani-led Reliance Industries’ entry into online retailing will help expand the current 15,000 digitised retail stores to over 5 million by 2023, a study of Bank of America Merrill Lynch said.As much as 90 per cent of India’s USD 700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries.These kirana stores are keen to upgrade their tech and this is driving a wave of modernization, the study said.”This is on the back of growing competition from modern trade and…

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The benchmark BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,300 mark in early trade Thursday tracking weak cues from global markets as US-China trade tiff continued to roil investor sentiment. Ahead of the crucial 11th round of talks aimed at ending the trade war between the world’s two largest economies, scheduled for May 9-10 in Washington, China has said it will retaliate if US raises tariffs on Chinese products. The comments come after US President Donald Trump threatened to hike tariffs on USD 200…

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