Markets rebound in early trade; Sensex jumps 1,028 points
Mumbai(PTI): Benchmark indices bounced back in early trade on Tuesday after falling in the previous trade amid positive trends in global equity markets.
The 30-share BSE Sensex jumped 1,028.28 points to 57,817.09 in early trade. The broader NSE Nifty rallied 320.3 points to 17,207.65.
Among the 30-share Sensex pack, IndusInd Bank, Bajaj Finance, Larsen & Toubro, State Bank of India, Axis Bank, ICICI Bank, HDFC, Tata Consultancy Services, Tata Steel and Bajaj Finserv were the major winners in early trade.
Power Grid traded lower. Elsewhere in Asia, markets in Seoul and Tokyo were trading higher. The US markets ended significantly higher on Monday.
The BSE benchmark had tumbled 638.11 points or 1.11 per cent to settle at 56,788.81 on Monday. The Nifty fell by 207 points or 1.21 per cent to end at 16,887.35.
Meanwhile, the international oil benchmark Brent crude futures climbed 0.53 per cent to 89.33 per barrel.
Foreign institutional investors turned buyers after remaining net sellers in the recent past and bought shares worth Rs 590.58 crore on Monday, according to data available with BSE.
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SC stays disqualification of six chief parliamentary secretaries in Himachal Pradesh
New Delhi: The Supreme Court has stayed the disqualification of six Chief Parliamentary Secretaries (CPS) in Himachal Pradesh, appointed by the Sukhvinder Singh Sukhu-led Congress government. The apex court put a hold on the Himachal Pradesh High Court's decision, which had declared these appointments unconstitutional.
A bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar clarified that no further CPS appointments would be made by the state government, stating such actions would contravene the law. The court has also issued a notice to BJP leader Kalpana Devi, who initially challenged the appointments in the high court, seeking her response within two weeks.
The matter has been tagged with similar pending petitions and is scheduled for hearing after four weeks.
Earlier, the Himachal Pradesh High Court, on 13 November, had invalidated the appointments of CPSes Sanjay Awasthi, Kishori Lal, Ram Kumar, Mohan Bragta, Sundar Singh Thakur, and Ashish Butail, deeming them illegal and unconstitutional. The Sukhu government subsequently moved the Supreme Court, arguing that the high court's ruling was flawed and could lead to disqualification of the CPSes under Article 192 of the Constitution.
Prominent advocates, including Kapil Sibal and Abhishek Manu Singhvi, represented the Congress government. Former Union Minister Anand Sharma also appeared as a counsel for Ashish Butail, marking his return to legal practice after 27 years.
