Nifty, Sensex edge up on economic recovery signs; auto sales data eyed
The NSE Nifty 50 index rose 0.15% to 12,988 by 0350 GMT, while the benchmark S&P BSE Sensex was up 0.11% at 44,198.47, after closing out November with gains of more than 11% each. Indian stock markets were closed on Monday for a holiday.
By Reuters| Posted by: Harshit Sabarwal | Bengaluru
UPDATED ON DEC 01, 2020 09:55 AM IST
Indian shares edged higher on Tuesday following their best monthly gain since April, with sentiment lifted by a smaller-than-expected contraction in Asia’s third-largest economy and broader optimism stemming from hopes for a Covid-19 vaccine.
The NSE Nifty 50 index rose 0.15% to 12,988 by 0350 GMT, while the benchmark S&P BSE Sensex was up 0.11% at 44,198.47, after closing out November with gains of more than 11% each. Indian stock markets were closed on Monday for a holiday.
Government data released after market hours on Friday showed Asia’s third-largest economy contracted by 7.5% in the September quarter, versus an 8.8% contraction expected in a Reuters poll, amid signs of a pick-up in manufacturing.
Investors are now awaiting monthly auto sales data due later in the day. The Nifty Auto Index was flat in early trading.
FM allocates ₹660 crore additional funds to MP for citizen-centric reforms
PTI, New Delhi
PUBLISHED ON JAN 24, 2021 03:44 PM IST
"Fifty per cent of the approved amount has also been released to the state as first installment for the approved projects," the finance ministry said in a statement.
NIIF makes equity investment of less than ₹5,000 cr in 5 yrs
PTI, New Delhi
PUBLISHED ON JAN 24, 2021 02:30 PM IST
- According to sources, NIIF has made an equity investment of ₹4,689 crore, while the co-investment by its partners stood at about ₹7,053 crore at the end of September 2020. The quasi-sovereign wealth fund's total equity investment along with partners stood at ₹11,742 crore as of September 2020.
Stove Kraft IPO to open tomorrow: What you need to know
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 24, 2021 02:27 PM IST
Stove Kraft has fixed a price band of ₹384-385 a share for its initial public offer and it is expected to fetch ₹412.62 crore at the upper end of the price band.
Leaders of Covid-19 vaccine rollout deliver world-beating market gains
Bloomberg
PUBLISHED ON JAN 24, 2021 01:10 PM IST
Traders are rushing to price the global vaccine rollout and betting nations at the forefront will be the fastest to recover from the crisis, lifting their stocks, currencies and bond yields.
Diamond trade is roaring back thanks to stuck-at-home shoppers
Bloomberg
PUBLISHED ON JAN 24, 2021 01:02 PM IST
The boom is being driven by bumper holiday jewelry sales, particularly in the vital US and Chinese markets.
FPIs remain net buyers at ₹18,456 crore in January so far
PTI
PUBLISHED ON JAN 24, 2021 12:25 PM IST
According to depositories data, overseas investors pumped in ₹24,469 crore into equities but pulled out ₹6,013 crore from the bonds market between January 1-22.
Mcap of 4 of top-10 valued firms jumps over ₹1.15 lakh crore; RIL biggest
PTI
PUBLISHED ON JAN 24, 2021 11:08 AM IST
The valuation of Reliance Industries Limited jumped ₹71,033.44 crore to reach ₹12,99,363.47 crore, becoming the biggest gainer.
Markets may remain volatile in holiday-shortened week: Analysts
PTI
PUBLISHED ON JAN 24, 2021 11:03 AM IST
Among major earnings to focus on this week are from UCO Bank, Axis Bank, Bank of Baroda, Canara Bank, Hindustan Unilever Limited, Lupin, Maruti Suzuki India and Tata Motors.
Mukesh Ambani is world’s 11th richest billionaire. Check who else is on the list
By hindustantimes.com | Edited by Kanishka Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 24, 2021 07:27 AM IST
Mukesh Ambani's bet on consumer services -- telecom and retail -- seems to be paying off despite the pandemic
Fee waiver, road tax discount key features of Centre’s draft scrappage policy
By HT Correspondent, New Delhi
PUBLISHED ON JAN 24, 2021 05:17 AM IST
Features of the draft policy, one of whose caveats is that the vehicles that are sent to the scrapyard must be dismantled in an environment friendly way, were discussed by the ministry at the 40th meeting of the transport development council chaired by Union transport minister Nitin Gadkari on Tuesday.
UK PM Boris Johnson presses US Prez Joe Biden for new trade deal
AP, Washington
PUBLISHED ON JAN 24, 2021 05:01 AM IST
The push for a new deal came in a broad-ranging call between the two leaders that touched on the global response to the coronavirus pandemic as well as the Biden administration announcing this week that the U.S. would rejoin the Paris climate accord and the World Health Organization, according to a statement from Downing Street.
India’s domestic aviation operations nearing pre-pandemic levels
Bloomberg
UPDATED ON JAN 23, 2021 10:54 PM IST
As many as 257,613 passengers flew locally as on Jan. 22, compared with 30,000 passengers that traveled by air when such flights were restarted on May 25, Puri said in a Twitter post on Saturday.
Oil industry reels as Joe Biden targets fossil fuels in first days
Bloomberg
PUBLISHED ON JAN 23, 2021 06:25 PM IST
- Officials are worried that technical permitting decisions are being placed in the hands of political appointees, rather than expert regulators in the field. And they’re concerned permits -- or simply changes to them -- will be delayed for existing drilling operations.
IT giants Apple, Google welcome Joe Biden's new immigration reforms
PTI, Washington
PUBLISHED ON JAN 23, 2021 05:14 PM IST
On the day one of his presidency on Wednesday, Biden sent a comprehensive immigration bill to Congress which proposes major overhauls to the system.
PMC Bank fraud: ED arrests Viva group MD, consultant
By Vijay Kumar Yadav | Edited by Abhinav Sahay, Mumbai
PUBLISHED ON JAN 23, 2021 03:31 PM IST
- ED's money laundering probe in the PMC Bank case began after the Mumbai police registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan among others.