Equity market gains with Nifty closing over 11,000; rupee recovers from record low
Mumbai, July 20: Hopes of political stability as the current government seemed confident of winning the trust vote in parliament lifted investor sentiments in the Indian equity market.
The Nifty 50 on the National Stock Exchange (NSE) reclaimed the psychological level of 11,000 points.
According to market observers, recovery in the Indian rupee after it touched a fresh all-time low of 69.12 per dollar earlier in the day also supported investor sentiments.
Index-wise, the broader Nifty50 of the NSE closed at 11,010.20 points -- higher by 53.10 points or 0.48 per cent -- from its previous close of 10,957.10 points.
The barometer 30-scrip Sensex on the BSE, which had opened at 36,377.03 points, closed at 36,496.37 points -- up by 145.14 points or 0.40 per cent -- from its previous session's close of 36,351.23 points.
The Sensex touched a high of 36,567.34 points and a low of 36,335.61 points during the intra-day trade. The BSE market breadth, however, was tilted towards the bears with 1,437 declines and 1,135 advances.
"Market recouped yesterday's losses supported by recovery in rupee and continuing positive momentum in IT and Pharma stocks, said Vinod Nair, Head of Research, Geojit Financial Services.
He further said the earnings season will pick up pace in the coming weeks and as a consenses market is expecting 14.7 per cent earnings growth for Nifty50 index stocks.
HDFC Securities' Head of Retail Research, Deepak Jasani said: "Investors were also awaiting the outcome of a no-confidence motion against the NDA government."
On the currency front, the rupee closed at 68.85, appreciating by 20 paise from Thursday's close of 69.05 per dollar.
Investment-wise, provisional data with exchanges showed that foreign institutional investors bought scrip worth just Rs 310.27 crore and the domestic institutional investors sold stocks worth Rs 50.73 crore.
Sector-wise, the S&P BSE IT index gained the most, by 216.77 points, followed by the captial goods index, up 162.36 points and the healthcare rose by 143.15 points.
On the contrary, the S&P BSE auto index declined by 96.19 points, the oil and gas index was down 94.49 points and the metal index fell by 64.93 points.
The major gainers on the Sensex were Sun Pharma, up 2.72 per cent at Rs 559.90; Infosys, up 2.42 per cent at Rs 1,348.35; Reliance Industries, up 2.23 per cent at Rs 1,128.55; ICICI Bank, up 1.84 per cent at Rs 266; and Axis Bank, up 1.36 per cent at Rs 534.45 per share.
The top losers were Bajaj Auto, down 8.73 per cent at Rs 2,841.10; Vedanta, down 2.74 per cent at Rs 202.60; Hero MotoCorp, down 2.48 per cent at Rs 3,373.15; ONGC, down 2.20 per cent at Rs 157.85; and Kotak Mahindra Bank, down 1.24 per cent at Rs 1,333.45 per share.
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Congress Corporator's daughter stabbed to death inside college campus in Hubballi
Hubballi (Karnataka), Apr 18: The daughter of a Congress Corporator was stabbed to death by her acquaintance inside BVB college campus here on Thursday after she allegedly rejected his proposal, police said.
The deceased Neha (23), the daughter of Niranjan Hiremath, was a first-year MCA student, they said.
The accused 23-year-old Fayaz, an MCA dropout, has been arrested in connection with the incident, police said, adding that both of them were batchmates during their BCA course.
The entire incident was caught on CCTV camera.
According to the police, Fayaz went inside the college campus with a knife and stabbed Neha five-six times. During the attack, he too sustained injuries and was shifted to the hospital along with the victim. At the hospital, Neha was declared brought dead.
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"During interrogation, he (Fayaz) claimed that the two of them had been in a relationship and that she had suddenly started avoiding him. It needs to be corroborated and verified, but he was arrested immediately," a senior police officer said.
A case of murder has been registered, police said, adding that further investigation is underway.
Narrating about the incident, Neha's father Hiremath said that his daughter had classes from 8 am. At around 4.30 pm, when she stepped out after completing her classes, this person approached towards her and stabbed her nearly six times inside the college campus and she died on the spot.
"He (the accused) was an old student and he had proposed my daughter but she rejected his proposal. She did not like him and she usually stayed away from all this...She refused him saying they both belonged to different caste and that she did not wish to have any relationship with him. Out of anger, he stabbed my daughter," he told PTI videos.
Demanding justice for her daughter, he said that the accused should he hanged to death only then will his daughter's soul rest in peace.
Meanwhile, Karnataka Chief Minister Siddaramaiah condemned the incident and offered condolences to the family of the deceased.
"An accused has already been arrested in connection with the incident and I have instructed the Director General of Police to conduct a strict investigation and take action to ensure maximum punishment for the accused," he said in a post on 'X'.
He also appealed to people to not take law into their hands.
"In connection with the incident, no one should get agitated and take law into their hands or attempt to disturb peace of the society. It is our duty to get justice for the death of the young woman, in this regard the police department will work hard," he added.
