Equity indices on upward climb, auto and metal stocks shine

Agencies
February 8, 2021

Image result for Equity indices on upward climb, auto and metal stocks shine

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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
October 1,2024

kishore.jpg

The BJP has selected Kishore Kumar Puttur as its candidate for the bypoll to Karnataka Legislative Council from Dakshina Kannada and Udupi Local Authorities’ Constituency. The by-election will be held on October 21.

Kishore Kumar is presently serving as the General Secretary of Dakshina Kannada BJP unit. He had served as vice president of State BJP Yuva Morcha from 2014 to 2016.

The by-election will be held to the seat vacated by Kota Srinivas Poojary of the BJP who has been elected as the Lok Sabha member from Udupi-Chikmagaluru Lok Sabha constituency. The vacancy was created on June 15, 2024 following Poojary’s resignation to the Council. His term in the council was till January, 2028.

In the last Council election held for the dual member constituency in December 2021, Poojary had secured 3,672 votes while the Congress candidate Manjunath Bhandary had secured 2079 votes. Poojary and Bhandary had secured required votes from the first preferential votes and had won the election.

There were several aspirants for the BJP ticket including former MP Nalin Kumar Kateel, DK BJP president Satish Kumpala, Mangaluru divisional in-charge Uday Kumar Shetty, former minister Pramod Madhwaraj and former Udupi district BJP president Kuilady Suresh Nayak.

The Congress is yet to announce its candidate for the election. KPCC working president Manjunath Bhandary in a recent press meet in Mangaluru had said that an opportunity will be given to congress leaders from Udupi district to contest by-election.

The Dakshina Kannada and Udupi Local Authorities’ Constituency has 6037 voters including 3551 from Dakshina Kannada comprising eight MLAs, one MP. The last date for filing nomination is October 3 and the last date for withdrawal of nomination is October 7. The counting will be held on October 24.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
October 8,2024

rahul.jpg

New Delhi: The Congress on Tuesday afternoon filed a formal complaint with the Election Commission regarding a delay in publishing the leads and results of the Haryana poll. In a brief letter the opposition party said that between 9 and 11 am there was "an unexplained slowdown in updating of results".

"As you can imagine this allows bad faith actors to spin out narratives that undermine the process. You can see examples of it already playing out on social media. Our fear is also that such narratives can then be used by these mala fide actors to influence processes where counting is still underway, i.e., in most of the counting centres," the Congress told the Election Commission.

"We request you to issue immediate directions to your officials to update the website with true and accurate figures, so that false news and malicious narratives can be countered immediately."

Minutes earlier the Congress' Jairam Ramesh said, "... we hope the Election Commission will answer our questions. The results of 10-11 rounds are out... but only four to five rounds are updated on the site." He also flagged those "trying to build pressure by sharing outdated and misleading trends..."

The Congress had raced into an early lead in Haryana as postal votes were counted, only for the BJP to stage a thrilling comeback late morning as ballots were opened. The ruling party then raced into a lead of its own, which it has held since; at noon the BJP held 48 seats - two over the majority mark.

Early celebrations at the Congress' Delhi HQ ground to a halt as the party - which is set to win the first Jammu and Kashmir election in a decade - contemplated a third straight defeat in Haryana.

The party's senior leader in the state - Kumari Selja, who is also in the Congress' chief ministerial race - told NDTV the Election Commission will "have to answer" the question posed.

 "Why is the counting going slowly? It was fine during the Lok Sabha election... so why is the counting going slowly now? It is the responsibility of the EC to tell the world why counting has slowed," she said.

Mr Ramesh, however, insisted the party remains confident.

"There is no need to be disheartened..." he told ANI, "Mind games are being played. There is no need to be disheartened. We are going to get the mandate. Congress will form the government."

The BJP's Sudhanshu Trivedi responded swiftly, declaring the complaining meant the Congress had "accepted defeat". "If Congress has started pointing fingers at Election Commission then we should understand they have accepted defeat..." he told reporters, "Per current trends I feel we are moving to an important win and Congress has started taking precautionary measures for future defeat."

The Congress had made similar complaints in June, when votes were being counted for the general election. Then Mr Ramesh implied the poll panel may have received "orders" to slow down counting.

In that case he had flagged apparent delays in publishing results for seats in Uttar Pradesh and Bihar, which account for over 120 seats between them and in which the ruling BJP (and its ally, the Janata Dal United) was facing a tough challenge from the Congress-led INDIA bloc and its allies. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
October 3,2024

sadguru.jpg

In a relief to Sadhguru, the Supreme Court on Thursday stayed the police action against Isha Foundation and transferred the matter from the Madras High Court to the top court, PTI reported.

Sadhguru's Isha Foundation today moved the Supreme Court against a Madras High Court order to submit details of all criminal cases against it, ANI reported.

Isha Foundation sought a stay on Madras High Court order, told Supreme Court that 500 policemen raided it, probing every corner, PTI reported.

Senior advocate Mukul Rohatgi appearing for Isha Foundation sought an urgent hearing today.

A bench of CJI DY Chandrachud said that you can't let Police or Army enter a place like this, the agency reported.

One of the women appeared online and said she was staying at the Isha Yoga Centre willingly. The woman told the Supreme Court that both of the sisters are at the Ashram out of their own will and this harassment from their father's side has been continuing for the last eight years.

The top court said it would interact with the two women online in their chambers right away.

Tamil Nadu Police on Tuesday launched an inquiry against Isha Foundation run by yoga guru Jaggi Vasudev over several allegations, a day after the Madras High Court sought a status report on all criminal cases registered against the organisation.

A multi-departmental team led by K Karthikeyan, Coimbatore Rural District Superintendent of Police, and consisting of officials from the Social Welfare Department and the District Child Protection Committee launched the inquiry at the sprawling premises of Isha Foundation in Thondamuthur.

 “We have launched an inquiry based on the court order,” a senior police official told DH from Coimbatore. The police team sought details of cases registered against the foundation in the past and inquired with several inmates about their condition in the ashram.

The inquiry came a day after the court ordered the police to conduct an enquiry and file a report on a habeas corpus petition filed by retired professor S Kamaraj, who alleged that his two daughters were being held captive at the ashram.

When contacted, a spokesperson for Isha Foundation admitted that a team led by the district SP was conducting an inquiry at the premises and that there were no searches. “They are enquiring with residents and volunteers, understanding the lifestyle, understanding how they come in and stay etc,” the spokesperson said.

The foundation also said the two women have clearly stated that they are staying in Isha Yoga Centre out of their own volition. “Now that the matter is seized by the court, we hope truth will prevail and there is an end to all the unnecessary controversies created,” the foundation said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.