Sensex shoots up 259 points
Indian Stocks brushed aside worries of political instability and rallied alongside its Asian peers as a weaker Yen and expectations of an interest-rate cut in the US fuelled investor appetite on Wednesday.
However, even as the Sensex swung 410 points to end the volatile session in the black, the small-cap index continued to exhibit weakness.
While the benchmark index of the BSE gained 259 points or 1.86 per cent to close at 14,248.66 points, the 50-share Nifty of the NSE firmed up by 1.92 per cent to end at 4153.15.
Analysts feel the time is ripe to start buying stocks with a medium-term outlook as the markets are close to their bottom. “We are positive, but do not expect a quick recovery as issues in the global economy and those at the political level will take time to settle down,” said Manish Sonthalia, vice-president of equity strategy at Motilal Oswal.
Brokers said there was good buying interest from institutions at lower levels.
Enter your email to get our daily newsletter in your inbox
- The Bengaluru-based firm plans to start production as early as in June. That’s audacious, given that the land—260 acres for the plant and 240 acres for two supplier parks—is still in excavation mode.
- The term sheet executed between the two parties in 2015, promised ZO Rooms’ shareholders 7% of Oyo.
- Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity.
- The survey captures the mood of the industry for the two quarters ending June 30, 2021.
- For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.
- The 15th Finance Commission has recommended that states be given 41 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26, which is at the same level as was recommended by the 14th Finance Commission.
- Here’s a list of some of the tasks which need to be performed by taxpayers before March 31