11
Saturday
July 2020
4:37 AM IST
News Headlines
Missing Mayor found dead in north Seoul        Heavy rain hits scenic central Japan, more damage in south        Bikru bloodbath mastermind Vikas Dubey nabbed in MP town        NIA to probe gold smuggling case, ex-Consulate woman employee moves HC for anticipatory bail        Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark        Holder wins early battle with Stokes as Windies take control        Ganguly announces cancellation of Asia Cup in September        We have asked every state to adopt one sport: Rijiju        Rupee slips 9 paise to 75.02 against USD        ICICI Bank to raise up to Rs 15,000 crore to bolster capital base        Trump threatens to cut federal aid if schools don't reopen        Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225        Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez        Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action        CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia        301 test positive in Kerala,COVID-19 tally crosses 6,000 mark        Dhoni turns 39, wishes pour in from all corners        New era for cricket as England-West Indies series begins        India''s COVID-19 tally, fatality rate per million population lowest in world: Govt        Rahul asks why no mention of Galwan Valley in MEA statement on talks        
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Business News
Sensex, Nifty spurt over 2 pc as India begins to unlock economy
 
Mumbai, Jun 1 (PTI) Market benchmark index Sensex on Monday rallied 879 points on heavy buying in financial, FMCG and energy stocks as the government starting the process to unlock the economy boosted investor sentiment.

Positive cues from the global markets also helped the key equity indices extend gains for the fourth session in a row.

After skyrocketing 1,250 points during the day, the 30-share BSE Sensex settled 879.42 points or 2.57 per cent higher at 33,303.52.

The NSE Nifty surged 245.85 points or 2.57 per cent to finish at 9,826.15.

Bajaj Finance was the top gainer in the Sensex pack, rising around 11 per cent, followed by Titan, Tata Steel, SBI, M&M, HDFC, IndusInd Bank and Reliance Industries.

On the other hand, Sun Pharma, Nestle India and UltraTech Cement were among the laggards.

All sectoral indices ended on a positive note with BSE consumer durables rallying 6.56 per cent, followed by metal, finance, bankex, energy, auto and realty indices.

"Domestic shares zoomed at opening and stayed strong throughout the day as investors ignored fourth-quarter GDP data and reacted positively to the government's decision to come up with a phased re-opening of all activities outside containment zones beginning June 1," Paras Bothra, President of Equity Research, Ashika Stock Broking, said.

Positive sentiments also supported after US President Donald Trump stopped short of specifying tough sanctions over China's new national security law for Hong Kong and Chinese PMI data showed fresh signs of economic recovery, he added.

"The market further rallied in the afternoon session with much broad-based buying seen in both large and mid cap stocks tracked by respective indices," Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi, said.

Broader midcap and smallcap indices surged up to 3.03 per cent.

The home ministry on Saturday said 'Unlock-1' will be initiated in India from June 8 under which the nationwide lockdown effectuated on March 25 will be relaxed to a great extent, including opening of shopping malls, restaurants and religious places.

"Buoyant Asian and European markets helped sentiments. Volumes were also healthy suggesting high delivery activity. Financials, Materials and Auto stocks did well while Pharma stocks came under selling pressure," Deepak Jasani, Head Retail Research, HDFC Securities, said.

Asian shares advanced to three-month highs on Monday as progress on re-opening economies helped offset jitters over riots in the US cities and unease over Washington's power struggle with Beijing.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul settled up to 3 per cent higher, and those in Europe opened with significant gains.

International oil benchmark Brent crude futures were trading 0.21 per cent higher at USD 37.91 per barrel.

On the currency front, the rupee appreciated 8 paise to provisionally close at 75.54 against the US dollar.

India is likely to receive 102% rainfall of a long-term average this year, the IMD said on Monday in its 2nd long range forecast, raising expectations for higher farm output in India, which is reeling from the new coronavirus pandemic.

The number of coronavirus cases in India crossed 1.90 lakh and the death toll climbed to 5,394, as per the health ministry data.

Globally, the number of cases linked to the disease has crossed 61.66 lakh and the deceased tally stood around 3.72 lakh.


Rupee slips 9 paise to 75.02 against USD
ICICI Bank to raise up to Rs 15,000 crore to bolster capital base
Gold jumps Rs 102, silver declines Rs 249
Finmin may review capital requirement of PSU banks after second quarter
I-T dept amends TDS form, makes it more comprehensive
Pak will complete CPEC at all costs, says PM Khan
COVID-19 caused huge demand destruction overseas: Bankers
Intel Capital to buy 0.39 pc stake in Jio Platforms for Rs 1,894 cr
Sensex surges over 200 pts in early trade; Nifty tops 10,600
India's trade deficit with China reduces to USD 48.66 bn in FY20
Work to begin shortly on Zojila tunnel: Gadkari
ONGC shares tank 4 pc after first-ever quarterly loss
Vodafone Idea shares plunge nearly 5 pc after FY20 earnings
Diesel price at new high as fuel prices hiked for 22nd time in just over 3 weeks
Prestige group's FY20 sales bookings flat at Rs 4,560 crore
No plans to sell non-core assets during this fiscal: PNB Chief
Petrol price up 25 paise, diesel 21 paise; rates hiked by Rs 9.12, Rs 11.01 in 3 weeks
SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme
Money in Swiss banks: India at 77th place, accounts for just 0.06% of all foreign funds
Asian shares advance, tracking Wall Street tech rally
KERALA NEWS
Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark
 Thiruvananthapuram: With COVID19 cases continuing to spiral, Kerala on Thursday recorded the biggest  
Kerala reports 272 fresh cases; 68 infected through contact
Will take appropriate decision at appropriate time:Jose K Mani
Kerala reports 131 new COVID cases, 75 recoveries, 2,112 patients under treatment
INTERNATIONAL NEWS
Missing Mayor found dead in north Seoul
 Seoul: The Mayor of this South Korean capital was found dead at Bugaksan mountain here on Thursday,
Heavy rain hits scenic central Japan, more damage in south
Trump threatens to cut federal aid if schools don't reopen
Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225
NATIONAL NEWS
Bikru bloodbath mastermind Vikas Dubey nabbed in MP town
 Ujjain: History-sheeter Vikas Dubey ? the prime accused for whom Uttar Pradesh Police had launched a
Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez
Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action
CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia
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