Stock markets extend gains for fifth day; Sensex revisits 66,000 mark
The Hindu
Sensex rises 385 points, reclaims 66,000 mark on buying in HDFC Bank, L&T, SBI; Nifty ends above 19,700.
Equity benchmark Sensex climbed over 385 points to reclaim the 66,000 mark on Thursday (September 7), propelled by robust buying in index majors HDFC Bank, L&T and SBI amid a weak trend in global equities.
A decline in crude oil prices in the international market also supported the domestic equities, traders said.
Rising for the fifth straight day, the BSE Sensex recovered all the early lost ground and finally closed with a gain of 385.04 points or 0.58% at 66,265.56. During the day, it hit a low of 65,672.34 and a high of 66,296.90.
The Nifty advanced 116 points or 0.59% to settle at 19,727.05.
From the Sensex pack, Larsen & Toubro jumped 4.26% to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro.
Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended lower.
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.
Private telcos lost over 1 crore wireless subscribers in September, while BSNL added 8.5 lakh users, refusing to hike tariffs.
Gautam Adani indictment may become a factor in future negotiations between the Adani Group and Bangladesh, energy experts in Dhaka say