Sensex inches up 40 pts in muted trading; snaps two-day falling streak
Mumbai (PTI): Benchmark indices Sensex edged up nearly 40 points while Nifty ended above 25,750 points in a lackadaisical trade on Monday, snapping the two-day declining streak on buying in select auto and banking shares.
The 30-share BSE Sensex inched up by 39.78 points or 0.05 per cent to settle at 83,978.49 as 14 of its constituents advanced and 16 declined. During the day, it hit a high of 84,127 and a low of 83,609.54.
The 50-share NSE Nifty eked out a marginal gain of 41.25 points or 0.16 per cent to end at 25,763.35.
Profit taking at higher levels due to the absence of fresh domestic trigger and foreign fund outflows kept the market rangebound, analysts said.
Among Sensex firms, Mahindra & Mahindra was the biggest gainer, gaining 1.7 per cent after the October sales data. Tata Motors Passenger Vehicles (TMPV) rose by 1.69 per cent. Eternal, State Bank of India, Bharti Airtel and Kotak Mahindra Bank were also among the major gainers..
However, Maruti Suzuki dropped the most by 3.37 per cent. ITC, Tata Consultancy Services, Larsen & Toubro, Bharat Electronics and Titan were the major laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,769.34 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 7,068.44 crore, according to exchange data.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled in positive territory.
Markets in Europe were trading with gains. US markets ended higher on Friday.
Global oil benchmark Brent crude dipped 0.14 per cent to USD 64.71 a barrel.
On Friday, the Sensex tanked 465.75 points or 0.55 per cent to settle at 83,938.71. The Nifty fell by 155.75 points or 0.60 per cent to 25,722.10.
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Odisha: Normalcy returns to violence-hit Malkangiri; internet services fully restored
Malkangiri (PTI): Normalcy returned to Odisha’s Malkangiri district on Monday, nearly a week after around 200 villages were damaged in violent clashes in a village, with the district administration fully restoring internet services, a senior official said.
Additional District Magistrate Bedabar Pradhan said internet services, suspended across the district on December 8 to curb the spread of rumours and misinformation following the clashes, were restored after the situation improved.
The suspension had been extended in phases till 12 noon on Monday.
The administration also withdrew prohibitory orders imposed under Section 163 of the Bharatiya Nyaya Sanhita within a 10-km radius of MV-26 village, where arson incidents were reported on December 7 and December 8.
Though the violence was confined to two villages, tension had gripped the entire district, as the incident took the form of a clash between local tribals and Bengali settlers following the recovery of a headless body of a woman on December 4, officials said.
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The violence broke out after residents of Rakhelguda village allegedly set ablaze several houses belonging to Bengali residents, forcing hundreds to flee. The headless body of Lake Podiami (51), a woman from the Koya tribe, was recovered from the banks of the Poteru river on December 4, while her head was found six days later at a location about 15 km away.
Officials said the district administration held several rounds of discussions with representatives of the tribal and Bengali communities, following which both sides agreed to maintain peace.
Relief and rehabilitation work has since been launched at MV-26 village, with preliminary assessment pegging property damage at around Rs 3.8 crore.
A two-member ministerial team headed by Deputy Chief Minister K V Singh Deo visited the affected village, interacted with officials and locals, and submitted a report to the chief minister.
So far, 18 people have been arrested in connection with the violence, the officials said, adding that despite the withdrawal of prohibitory orders and restoration of internet services, security forces, including BSF and CRPF personnel, continue to be deployed to prevent any untoward incident.
On Sunday, Nabarangpur MP Balabhadra Majhi visited MV-26 and neighbouring Rakhelguda villages, and held discussions with members of both communities as part of efforts to rebuild confidence and restore peace.
More than two lakh Bengali-speaking Bangladeshis were rehabilitated by the Centre in Malkangiri and Nabarangpur districts in 1968, and they currently reside in 124 villages of Malkangiri.
