Business
Sensex ends volatile session 182 points higher; PSU bank stocks surge
The benchmark indices ended Tuesday’s volatile session on a positive note amid buying in counters such as Reliance Industries (RIL), TCS, Infosys, and UltraTech Cement.
The S&P BSE Sensex gained 182 points, or 0.4 per cent to settle at a fresh closing peak of 45,609 levels while NSE’s Nifty, too, ended at a record closing peak of 13,393, up 37 points, or 0.28 per cent. During the day, the index breached 13,400 level to hit a high of 13,435.45 points.
Volatility index, India VIX, rose over 3 per cent to 18.6 levels.
On the sectoral front, PSU bank stocks rallied the most. The Nifty PSU Bank index surged over 7 per cent to 1,858 levels with all the 12 constituents advancing.
In the broader market, the S&P BSE MidCap index slipped 0.16 per cent to 17,525 levels and the S&P BSE SmallCap index settled at 17,492, down 51 points, or 0.29 per cent.
Global markets
Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with fresh concerns about a surge in Covid-19 infections.
In Europe, shares were little changed as hopes of a Brexit trade deal faded amid a last-ditch attempt to find a solution, while rising coronavirus cases spurred talks of stricter curbs that could cause more economic pain.
In commodities, oil prices fell as California tightened its pandemic lockdown through Christmas and coronavirus cases continued to surge in the United States and Europe.
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Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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