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Stock Market Updates: Sensex, Nifty Lose Early Gains Due to High Volatility; Tata Steel Drops 10%

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Stock Market Updates: Sensex, Nifty Lose Early Gains Due to High Volatility; Tata Steel Drops 10%

The Sensex and Nifty opened in the green on Monday, following a volatile week, as SGX Nifty futures faded early gains. The Sensex was up 288.99 points, or 0.53 percent, to 54615.38 at 09:16 IST, while the Nifty was up 77.80 points, or 0.48 percent, to 16344. In terms of the overall market, 1563 shares have advanced, 531 shares have declined, and 98 shares have remained unchanged in the first session.

The top gainers on the Sensex were Maruti, NTPC, M&M, Titan, Nestle, Asian Paints, IndusInd Bank, Ultratech Cement, Kotak Bank, and Dr Reddy’s, which rose up to 4%. Tata Steel, on the other hand, has lost 10% of its value.

Steel stocks are likely to experience a short-term correction as the imposition of export duties on certain steel products is detrimental to the sector, whereas a reduction in customs duties on raw materials and the resulting lower steel prices would benefit sectors like construction, capital goods, and automobiles.

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Metal stocks, on the other hand, fell as steel export duties were raised. Tata Steel and JSW Steel both fell 10%, leading the Sensex and Nifty indexes lower.

Markets in general were mixed. The BSE MidCap index increased by 0.16 percent, while the BSE SmallCap index fell by 0.11 percent.

The Nifty Metals index fell more than 6%, while the auto index gained more than 2%. Real estate and consumer durables were also up. While the Nifty IT and financials gained only slightly.

The ‘risk-off, risk-on roller coaster market,’ according to Dr VK Vijayakumar, chief investment strategist at Geojit Financial Services, is set to continue in the near term. Last Friday’s rebound in the S&P 500 from bear market territory could indicate that the market is unlikely to turn long-term bearish. The market will be closely watching macroeconomic data from the United States in the coming days. The government’s aggressive anti-inflation measures, such as lowering excise duties on gasoline and diesel and other initiatives to lower steel prices, will relieve the RBI of some of its inflation-controlling responsibilities. Despite the fact that this is a positive from a market standpoint, the government’s additional borrowing and fiscal deficit exceeding budget estimates are areas of concern.”

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Fears of a recession pushed the S&P500 into a bear market briefly on Friday before closing flat. The Dow ended the day unchanged, while the Nasdaq fell 0.3 percent. However, stock futures in the United States gained more than 1% on Monday.

This morning, Asian markets were mixed. On Monday, Asian stocks were hit by persistent concerns about inflation and rising interest rates, as well as fresh selling in technology stocks, which weighed on Chinese markets. After U.S. stocks ended the previous session with negligible gains for the day, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat. This month, the index is down 3.6 percent. The Hang Seng Index fell 0.38 percent, while the mainland’s CSI300 fell 0.37 percent, indicating a negative tone. The Nikkei stock index in Japan was up 0.8%.

 

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

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January 9, 2025

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Following Guneet Monga, Priyanka Chopra serves as executive producer for the Oscar-nominated short film Anuja:”Inspiring Move: Following Guneet Monga, Priyanka Chopra Serves as Executive Producer for the Oscar-Nominated Short Film Anuja: ‘Very Proud'”

Priyanka Chopra is extremely happy as she has come on board as an executive producer for Academy Award-shortlisted film Anuja, also backed by Guneet Monga.
Global star Priyanka Chopra is extremely happy as she has come on board as an executive producer for the Oscar-shortlisted film Anuja. Variety shared this update.

Anuja centers on the nine-year-old title character, who works in a back-alley garment factory with her older sister Palak. The narrative follows the young protagonist as she faces a decision that will impact both her future and her family.

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On being associated with the film, Priyanka said in a statement, “This beautiful film shines a spotlight on a subject that affects millions of children around the world, who are faced with the impossible decision between a future they cannot yet see and the immediate realities of their present.”

She said, “Anuja is a poignant, thought-provoking piece that makes us reflect deeply on the power of choices and how they shape the course of our lives. I am immensely proud to be associated with such a phenomenal and impactful project.”

The film was produced in collaboration with the Salaam Baalak Trust (SBT), a non-profit founded by Mira Nair’s family supporting street and working children, alongside Shine Global.

known for Academy Award-winning films War/Dance (2007) and Inocente (2012) – and Krushan Naik Films. Mindy Kaling is one of the producers on the film. Oscar winner Guneet Monga Kapoor has also boarded Anuja as a producer.

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This could be Monga’s third nomination at the Oscars. Her earlier projects, The Elephant Whisperers and Period: End of Sentence, won Oscars, bringing glory to Indian cinema.

A Story Close to the Heart

Anuja is a poignant tale about resilience, identity, and empowerment, centered around a young girl navigating societal challenges in her quest for self-discovery. Directed by a rising filmmaker, the short film has struck a chord with audiences and critics alike, making waves at various film festivals before earning its nomination for the Academy Awards.

Priyanka Chopra’s Legacy as a Producer

With Anuja, Priyanka continues her mission to spotlight underrepresented voices and meaningful narratives. She shared her admiration for the cast and crew of the film, saying, “It’s a collaborative effort, and every person involved in Anuja has poured their heart into it. I’m honored to be part of this journey.”

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Following Guneet Monga’s Footsteps

Priyanka’s move comes after Guneet Monga made history with The Elephant Whisperers, which won the Oscar for Best Documentary Short. Guneet’s success set a precedent for Indian filmmakers and producers, proving that stories rooted in Indian culture and values could resonate with a global audience. Priyanka’s involvement in Anuja further solidifies the growing presence of Indian creators on the international stage.

Critical and Audience Acclaim

Since its debut, Anuja has garnered widespread acclaim for its emotional depth and nuanced performances. Critics have praised its ability to tackle complex themes with sensitivity and authenticity. The film has already won several awards at international film festivals, further boosting its chances at the Oscars.

A Beacon for Future Collaborations

Priyanka’s involvement in Anuja is more than just a milestone for her career—it’s a beacon for future collaborations between Indian and international filmmakers. By lending her voice and resources to projects like this, she is creating opportunities for Indian talent to shine on a global scale.

As the Oscars approach, anticipation for Anuja continues to build. Whether it takes home the coveted trophy or not, the film’s nomination is a testament to the power of storytelling and the importance of representation.

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