Business
Sensex surges by over 371 points to 56,777, Nifty trades at 16,942
The BSE index Sensex rebounded more than 315 points to 56,721 in Tuesday’s opening session, led by buying in IT and FMCG shares, despite a sluggish global market due to the Ukraine crisis.
The 30-share Sensex opened on a positive note and consolidated its gains as morning trade progressed. It was last at 56,721.45, up 315.61 points or 0.56%.
Likewise, the NSE barometer Nifty was trading 128 points or 0.76 per cent higher at 16,970.80.
Sensex, mainly driven by HUL, Wipro, Tech Mahindra, Titan and Infosys, rose as much as 1.55%.
The BSE Sensex tumbled 1,747.08 points or 3% to end at 56,405.84 on Monday. It was the biggest one-day drop since Feb. 26, 2021.
Likewise, the NSE Nifty index plunged 531.95 points or 3.06% to 16,842.80, closing below the key 17,000 level for the first time this year.
Investors have lost more than Rs 1,238 crore in the past two days.
“Markets – stocks, bonds, crude oil, gold – have become highly volatile on fears of Russia-Ukraine tensions. Indian equities are expensively valued and had the biggest correction among emerging markets, with the Sensex down 3% yesterday,” Geojit Financial Services Chief Investment Strategist VK Vijayakumar.
Elsewhere in Asia, stocks fell on fears that Russia could invade Ukraine. The U.S. government has warned Russia of serious consequences if its forces attack Ukraine.
Brent futures, the global crude benchmark, fell 0.61% to $95.89 a barrel on Tuesday.
Foreign institutional investors (FII) became net sellers in the capital market on Monday as they dumped shares worth Rs 4,253.7 crore, according to stock exchange data.
Complete News Source : Hindustan Times
india
Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’
Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.
As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.
Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.
Congress demands JPC probe
Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.
ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election
Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.
He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.
The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.
Other Oppn leaders join attack
Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.
Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.
ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%
Adani stocks latest updates
The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.
Group Media Publications
Entertainment News Platforms – anyflix.in
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
-
india1 month ago
‘My support will be with new J&K govt’: L-G Manoj Sinha ahead of Omar Abdullah’s oath-taking ceremony
-
Politics1 month ago
New BJP government to take oath in Haryana on Oct 17, PM Modi to attend
-
Sports1 month ago
Score for the third day of the first test between India and New Zealand: Ravindra-Southee crushes IND, NZ leads by 299 at lunch
-
TV1 month ago
Prince Narula and Yuvika Chaudhary share first pic with newborn daughter from hospital. See post
-
In News2 weeks ago
SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad
-
Entertainment.1 month ago
Massive data breach at Game Freak studios reveals shocking new dark Pokemon movie plot
-
Sports1 month ago
India vs New Zealand LIVE Score 1st Test Day 3: Ravindra-Southee carnage flattens IND, NZ lead by 299 at Lunch
-
Business2 weeks ago
OpenAI buys new domain chat.com for over $15 million, it redirects to ChatGPT