19
Tuesday
January 2021
2:43 PM IST
News Headlines
England beats Sri Lanka by 7 wickets in 1st test        Fourth Test: Rain forces early stumps with India at 4-0 while chasing 328 to win        Three UK partners with TCS to accelerate 5G network rollout        3 Adani Group-owned domestic airports accredited in ACI health accreditation programme        N. Korea''s parliament rubber stamps new development plans        Kremlin critic Navalny detained after landing in Moscow        'Rooting hard for you': Will departure notes end with Trump?        Tandav controversy: FIR against director, Amazon India head of content        Smiles, sanitizers welcome students as schools reopen in Delhi        COVID-19: India records lowest fatalities in eight months        Proposed tractor rally on Jan 26: It's law & order matter, says SC on plea for injunction against it        PM flags off 8 trains to boost connectivity to Statue of Unity        Fire in luggage van of running train doused in time in Kerala        Kerala logs 5,005 new COVID-19 cases, 4,408 recoveries        Farmer unions say they will go ahead with tractor march in Delhi on Republic Day        Kremlin critic Navalny departs Berlin on Moscow-bound flight        Cargo ship sinks in the Black Sea; 3 dead, 6 rescued        4th Test: Australia 21/0 at stumps, lead India by 54 runs after Sundar, Thakur fightback        NorthEast end winless streak to bag crucial points against Jamshedpur        India take tea break at 62/2, replying to Australia's 369        
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Business News
add add Markets regain footing on firm European cues; IT stocks hog limelight
 
Mumbai: The Sensex made an emphatic comeback on Tuesday following the previous session's massive selloff, as European markets reversed losses amid expectations that the COVID-19 vaccines will be effective against a new virus strain in the UK.

IT stocks led the recovery on Dalal Street, with pharma and select banking stocks also witnessing robust demand. After gyrating 968 points in a volatile session, the 30-share BSE Sensex ended 452.73 points or 0.99 per cent higher at 46,006.69.

On similar lines, the broader NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.

HCL Tech was the top gainer among the Sensex companies, rallying 5.09 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, Nestle India and L&T.

Only five index constituents finished in the red -- Kotak Bank, Bajaj Finance, HDFC, RIL and IndusInd Bank, which slipped up to 0.94 per cent.

European markets witnessed a sharp recovery after German pharmaceutical company BioNTech said it was confident that its coronavirus vaccine would work against the new UK variant.

The variant, detected mainly in London and the southeast of England in recent weeks, has sparked concern worldwide because of signs that it may spread more easily.

While there is no indication it causes more serious illness, numerous countries in Europe and beyond have restricted travel from the UK as a result.

The US Congress approving a USD 900 billion stimulus package also bolstered market sentiment, traders said.

"Market took an unexpected positive momentum in the afternoon, during a see-saw trading day, following the positive opening of the European market, which recovered from yesterday's sell-off. The sectorial rally was led by IT and Pharma stocks with other sectors also supporting the up move.

"Volatility is expected to stay high in the near-term due to strict lockdown impacting economic recovery. However, the market is expected to remain bullish in the medium to long term, backed by overall progress in economic activity in 2021," said Vinod Nair, Head of Research at Geojit Financial Services.

All sectoral indices ended on a positive note, with BSE IT, teck, utilities, telecom, metal, healthcare and power rallying as much as 3.37 per cent.

Broader BSE midcap and smallcap indices rose up to 1.09 per cent.Elsewhere in Asia, bourses in Shanghai, Seoul, Hong Kong and Tokyo ended in the red.

Meanwhile, the global oil benchmark Brent crude futures slipped 1.67 per cent to USD 50.06 per barrel. The rupee pared most of its initial losses and settled for the day 5 paise lower at 73.84 against the US dollar.


Three UK partners with TCS to accelerate 5G network rollout
3 Adani Group-owned domestic airports accredited in ACI health accreditation programme
WhatsApp delays policy rollout to May 15
Strong startup ecosystem critically important for business: Nisa Godrej
Rupee recovers losses, settles 15 paise higher at 73.25 against US dollar
Big steel, cement firms operating as a cartel; need to place regulator: Gadkari
UP's New Excise Policy aims Rs 6,000 cr excess revenue next fiscal
'India ushering in rapid structural reforms to become USD 5 trn economy by 2025'
India urges WTO members to find permanent solution for public stock holding for food security
GDP estimates: Industries showing signs of recovery, says Niti VC
COVID-hit economy to contract 7.7 pc in 2020-21: Govt estimates
Sensex drops over 100 pts; Nifty slips below 14,100
M-cap of BSE-listed companies zoom to record high of over Rs 191 lakh cr
Bajaj Auto sales up 11 pc in December at 3,72,532 units
Reliance, BP commit to pay for any shortfall in KG-D6 production to buyers
Discoms' outstanding dues to power gencos rise 35 pc to Rs 1.41 lakh cr in Nov
GST collection at record-high of Rs 1.15 lakh cr in Dec'20
add add GST collection at record-high of Rs 1.15 lakh cr in Dec'20
KFC cuts interest rates in New Year
Reliance CEO donates Rs 1.01 cr to TTDs SVBC trust
KERALA NEWS
Fire in luggage van of running train doused in time in Kerala
 Thiruvananthapuram: A fire broke out in a luggage van of a running train in Kerala on Sunday and was  
Kerala logs 5,005 new COVID-19 cases, 4,408 recoveries
5,960 new COVID-19 cases, 27 deaths in Kerala
Kerala transport corporation MD alleges Rs 100-crore scam
INTERNATIONAL NEWS
N. Korea''s parliament rubber stamps new development plans
 Seoul, Jan 18 (AP) North Korea's rubber-stamp parliament has passed decisions made by a major ruling
Kremlin critic Navalny detained after landing in Moscow
'Rooting hard for you': Will departure notes end with Trump?
Kremlin critic Navalny departs Berlin on Moscow-bound flight
NATIONAL NEWS
Tandav controversy: FIR against director, Amazon India head of content
 Lucknow Jan 18 (PTI) An FIR has been lodged here against the makers of web series 'Tandav' and Amazo
Smiles, sanitizers welcome students as schools reopen in Delhi
COVID-19: India records lowest fatalities in eight months
PM flags off 8 trains to boost connectivity to Statue of Unity
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