Equity indices on upward climb, auto and metal stocks shine

Agencies
February 8, 2021

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Mumbai, Feb 8: Equity benchmark indices closed over one per cent higher on Monday amid upbeat news on corporate earnings, economic data and updates on vaccination drive.

Market experts said foreign portfolio investors have continued to buy Indian securities as the Union Budget 2021 sparked a strong rally, and there seems to be no reason for them to slow down.

The BSE S&P Sensex closed by 617 points or 1.22 per cent at 51,349 while the Nifty 50 edged higher by 192 points or 1.28 per cent to 15,116.

Except for Nifty FMCG and PSU bank which dipped slights, all other sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 3.2 per cent, metal by 3.1 per cent, IT by 2.1 per cent, realty by 2 per cent and private bank by 1 per cent.

Among stocks, Mahindra & Mahindra moved up by 7.3 per cent to Rs 929.20 per share while Tata Motors accelerated by 6.4 per cent to Rs 336.15.

Metal stocks too gained substantially with Hindalco moving up by 6.1 per cent and JSW Steel by 3.4 per cent.

The other major gainers were GAIL, Adani Ports, Bajaj Finserv, Infosys and Bharti Airtel. However, those which lost were Britannia, Hindustan Unilever, Bajaj Finance, Bajaj Auto, Cipla and Sun Pharma.

Meanwhile, Asian shares were near record highs on hopes a 1.9 trillion dollar Covid-19 aid package will be passed by US lawmakers later this month when coronavirus vaccines are being rolled out globally.

Japan's Nikkei jumped by 2.12 per cent, the highest level since August 1990, as strong corporate earnings lifted investor confidence for economic recovery from pandemic lows.

The Shanghai Composite crawled up by 1.03 per cent and Hong Kong's Hang Seng by 0.11 per cent.

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News Network
October 10,2024

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Foreign Minister Abbas Araghchi warns Saudi Arabia’s Crown Prince Mohammed bin Salman about the dire consequences of the Israeli regime’s ongoing deadly aggression against the regional countries.

“The Israeli regime is dragging the entire region into a catastrophe,” the top diplomat told the Saudi royal in the Arab country’s capital Riyadh on Wednesday.

Araghchi was referring to the regime’s October 7, 2023-present genocidal war on the Gaza Strip that has so far killed nearly 42,000 Palestinians, mostly women and children, as well as its escalated attacks on Lebanon, which have claimed thousands of other lives.

“Insight, wisdom, courage, and cooperation are what the region needs to overcome this challenging time,” he added.

Araghchi said he had held “very important” discussions with bin Salman concerning “vital issues of common concern.”

He also commented on an earlier meeting with his Saudi counterpart Prince Faisal bin Farhan, noting that the countries would always be bonded as a result of geographical contiguity and stay each other’s brothers through faith.

“Together, the Islamic Republic and Saudi Arabia can award the region with security and stability,” he said, adding, “This requires a higher level of political will.”

“I am glad to have taken the first steps down a long path alongside my Saudi counterpart today.”

Araghchi left Tehran for the kingdom on Wednesday on a regional tour that took him to the Qatari capital of Doha next.

He had visited Lebanon’s capital Beirut on October 4 as part of a two-day tour, holding talks with Lebanese officials before visiting the Syrian capital of Damascus the following day to meet with Syrian leaders.

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News Network
September 29,2024

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Jerusalem, Oct 28: Israel said on Sunday it was carrying out new air raids against civilians and Hezbollah targets in Lebanon, after assassinating resistance group’s leader Hassan Nasrallah.

Hezbollah confirmed on Saturday that its leader Nasrallah was assassinated in an Israeli strike a day earlier on Beirut’s southern suburbs, dealing a massive blow to the group he had led for decades.

Lebanon has declared three days of mourning for Hassan Nasrallah.

The development marks a sharp escalation in nearly a year of tit-for-tat cross-border fire between Hezbollah and Israel, and risks plunging the whole region into a wider war.

Israel continued to pound Lebanon on Sunday, with the ruthless military confirming it attacked dozens of targets in the territory of Lebanon in the last few hours.

The military has attacked hundreds of Hezbollah targets throughout Lebanon since Saturday, it said, as it seeks to disable the group’s military operations and infrastructure.

Israel has raised the prospect of a ground operation against Hezbollah, prompting widespread international concern.

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News Network
October 4,2024

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According to a report, American multinational technology conglomerate Meta is restricting the use of the upside-down red triangle emoji, which has become a broader symbol of Palestinian resistance.

Meta is restricting the emoji on its Facebook, Instagram, and WhatsApp platforms, The Intercept reported on Thursday after reviewing internal content moderation materials.

Since the beginning of Israel’s genocidal war on Gaza, the resistance movement Hamas has regularly released footage of its successful strikes on Israeli military positions with red triangles superimposed above targeted soldiers and armor, the report said.

The use of the red triangle emoji has expanded online since October last year, becoming a widely used icon for people expressing their sentiments in favor of Palestine and against Israel.

Social media users use the emoji in their posts, usernames, and profiles as a badge of solidarity and protest against Israel’s crime against Palestinians.  

The symbol has become so popular that the Israeli military has used it in its own propaganda.

In November, an Israeli military video that warned “Our triangle is stronger than yours, Abu Obeida,” addressing Hamas’s spokesperson, Al Jazeera reported.

Meta, which owns Facebook and Instagram, has determined that the upside-down triangle emoji is a proxy for support for Hamas, according to internal policy guidelines obtained by The Intercept.

Meta is deleting the triangle that may be followed by further disciplinary action from the company depending on how severely it assesses its use.

According to the policy materials, the ban covers contexts in which Meta decides a “user is clearly posting about the conflict and it is reasonable to read the red triangle as a proxy for Hamas and it is being used to glorify, support or represent Hamas’s violence.”

Israel has killed at least 41,700 Palestinians, mostly women and children, in Gaza since October 2023. In Lebanon, the death toll has risen to more than 1,840 with 8,400 wounded.

The Israeli war machine ignited its genocidal campaign by targeting helpless Palestinians trapped in the Gaza Strip in October.

It was after the Palestinian resistance movement Hamas conducted surprise Operation Al-Aqsa Storm against the occupying entity in response to the regime's decades-long campaign of bloodletting and devastation against the Palestinians.

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