Business
Stock market: Sensex touched 39,000 level, Nifty strong 81 points
The positive global trend and the inflow of foreign funds strengthened the market sentiment on the second trading day of the week and closed on the upside. The Bombay Stock Exchange’s leading index Sensex gained 0.74 per cent to close at 39044.35, up 287.72 points. At the same time, the National Stock Exchange’s Nifty gained 0.71 percent (81.75 points) to close at 11521.80.
The rupee lost 16 paise to close at 73.64 (temporary) per dollar on Tuesday, despite the positive trend in the domestic stock markets. The rupee fluctuated greatly in the interbank foreign currency exchange market. The rupee finally ended with a loss of 16 paise to close at 73.64 per dollar after opening with a strong trend at 73.33 per dollar. The rupee had closed at 73.48 per dollar in the previous trading session.
During the day’s trade, the rupee rose to a high of 73.33 per dollar. It also came to a low of 73.72 per dollar. Meanwhile, the dollar index, showing dollar trend against the six currencies, declined by 0.16 per cent to 92.90.
Talking about the big stocks, today the shares of IndusInd Bank, Cipla, UPL, Axis Bank and Bharti Airtel closed on the green mark. The shares of Titan, Maruti, HDFC Life, Itcher Motors and ITC closed at the red mark.
If we look at the sectoral index, today IT, finance services, banks, PSU banks, pharma and private banks closed on the green mark. Media, auto, realty, FMCG and metal on the red mark.
The Sensex opened up 124.61 points, or 0.32 per cent, at 38881.24 levels in early trade and the Nifty opened 0.37 per cent, or 42.45 points higher at 11482.50.
The Sensex was down 97.92 points at 38756.63, down 0.25 percent, and the Nifty closed 0.38 per cent (43.40 points) down at 11421.05 on the previous trading day.
News Source: NewsCrab.Com
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.
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