Sensex soars past 55,000, adds 593 points on retail ‘euphoria’
The Hindu
Tech stocks spur gains; ‘cooling inflation, pickup in manufacturing aid sentiment’
Benchmark equity indices closed at record highs on Friday, with the S&P BSE Sensex scaling the 55,000 mark, propelled by consumer and technology stocks. Amid sustained buying in blue-chip stocks, the Sensex rose 593.31 points, or 1.08%, to 55,437.29 points. The NSE Nifty 50 climbed 164.70 points, or 1.01%, to 16,529.10, its highest close ever. The top Nifty-50 gainers included Tata Consumer, which rose 4%, TCS (3.11%), L&T (2.56%), HCL Tech (2.5%) and Tata Steel (2.22%). Reports of a dip in retail inflation in July and pickup in manufacturing activity in June buoyed market momentum, analysts said.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.
NTPC Green Energy IPO oversubscribed by 93% on day 2, raising ₹3,960 crore for renewable energy projects.
Chief Economic Advisor advises India Inc to focus on productivity, R&D, and quality over reliance on weak currency for exports.