Connect with us

Business

MARKET WRAP: Sensex up 277 pts; TCS’ m-cap tops Rs 10 trn, stock jumps 7%

Published

on

MARKET WRAP: Sensex up 277 pts; TCS’ m-cap tops Rs 10 trn, stock jumps 7%

The equity benchmark indices ended nearly 1 per cent higher on Monday, mainly lifted by information technology (IT) stocks and private sector lenders such as HDFC Bank, and ICICI Bank.

Shares of information technology companies were on a roll after Tata Consultancy Services announced a share buyback plan amid expectation of strong earnings in the July – September quarter of the current fiscal. The stock hit a fresh record high of Rs 2,727 on the BSE during the day before settling at Rs 2,707, up over 7 per cent. That apart, TCS’ market capitalisation surged past the Rs 10 trillion mark for the first time ever.

Among headline indices, the S&P BSE Sensex settled 277 points, or 0.7 per cent higher at 38,974 levels and the Nifty50 index ended above 11,500-mark at 11,503, up 0.76 per cent. India VIX climbed over 7.6 per cent to 19.75 levels.

Advertisement

Meanwhile, financial stocks were in focus after the Supreme Court ordered that all affidavits in the interest waiver case be filed by October 12. The apex court will next hear the case on October 13.

In the broader market, the S&P BSE MidCap index ended 0.18 per cent lower at 14,786.58 levels while the S&P BSE SmallCap index settled 0.38 per cent higher at 15,028 points.

Global Markets

Stocks rose on Monday as signs that President Donald Trump’s health was improving eased some of the political uncertainty caused by his coronavirus infection, which sent investors rushing for safety last week. That helped US S&P 500 e-mini futures rise 0.62 per cent, while Nasdaq futures gained 0.89 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.08 per cent. Euro Stoxx 50 futures were up 0.82 per cent, German DAX futures rose 0.72 per cent, and FTSE futures gained by 0.91 per cent.

Advertisement

In commodities, oil prices rose, lifted by comments from doctors for US President Donald Trump suggesting he could be discharged from hospital as soon as Monday.

Tap To Explore More : Money Control

Also Read : China can’t get better of us: IAF Chief Bhadauria on eastern Ladakh

Advertisement

Pahalgam Attack

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Published

on

By

Pachigam attack aftermath: International airlines avoid Pakistani airspace amid tensions with India

Due to a lengthier path, Lufthansa Flight LH760 from Frankfurt to New Delhi had to fly for over an hour longer on Sunday. Major foreign airlines, including Air France and Lufthansa, are avoiding Pakistani airspace as tensions between India and Pakistan remain high after a deadly terrorist assault in Pahalgam, Jammu and Kashmir, according to airlines and flight trackers on.

Monday. Air France agreed, stating that it had decided to halt flights over Pakistan due to the “recent evolution of tensions” between the two South Asian foes. “The airline has decided to suspend overflight of Pakistan until further notice,” Air France said in a statement, referring to the “recent evolution of tensions” between India and Pakistan The airline currently changing.

Advertisement

In the wake of the recent Pachigam terror attack, a significant shift in international aviation routes has occurred. Following an uptick in security concerns and rising geopolitical tensions between India and Pakistan, several international airlines have opted to avoid Pakistani airspace, rerouting their flights to ensure passenger safety. The decision comes nations.

The Pahagam Terror Attack: A Trigger for Renewed Tensions

On the night of the attack in Pachigam, a popular tourist destination in Jammu and Kashmir, militants carried out a series of strikes on civilian and military targets. The assault left a number of casualties, both military personnel and civilians, sparking widespread condemnation. The attack, attributed to militant groups operating from across the border.

Airlines’ Concerns Over Safety and Security

In response to the escalating threat in the region, several international airlines, including prominent carriers from Europe, the Middle East, and Asia, have started to reroute their flights to avoid crossing Pakistani airspace. These precautionary measures, while not unprecedented, are a direct reflection of the security situation that has worsened in the wake of the attack.

Airlines typically rely on international aviation corridors for the fastest and most efficient flight paths, and Pakistani airspace has historically been a critical component of many international routes connecting Europe and Asia. However, in light of the heightened risk of military conflict, commercial carriers have begun to take proactive steps to avoid the region.

Advertisement

European carriers, such as Lufthansa and Air France, have adjusted their flight paths over the past few weeks, choosing to bypass Pakistan altogether. Similarly, Middle Eastern giants, like Emirates and Qatar Airways, have rerouted certain flights to avoid potential risks associated with flying in close proximity to the disputed borders. These changes have led to longer flight.

The International Air Transport Association (IATA) has noted that these changes, while necessary, come with considerable logistical and financial consequences. Airlines must navigate alternative routes, which may lead to higher fuel consumption and longer durations of travel. Nevertheless, passenger safety is the highest priority, and the industry remains.

Diplomatic Implications and Regional Stability

The rerouting of international flights has far-reaching implications, not only in terms of aviation logistics but also for regional diplomacy. The decision to avoid Pakistani airspace can be seen as a subtle but clear indication of the international community’s concerns regarding with the growing uncertainty in the region, underscores the volatile nature of South the security situation between India and Pakistan. Such moves may further isolate Pakistan.

The Future of Aviation in the Region

As the situation unfolds, the aviation industry is closely monitoring developments. For international carriers, navigating the delicate balance between commercial operations and national security concerns is no small task. In the coming weeks, further changes in flight patterns are expected, depending on how the diplomatic and military tensions between India.

Advertisement
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

Continue Reading
Anyskill-ads

Facebook

Trending

11:54