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

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3 years ago

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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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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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