Sensex jumps 746 pt to close above 80,000 level amid fresh foreign fund inflows, rally in US peers
Mumbai, Aug 11 (PTI): Benchmark BSE Sensex rallied 746 points to close above the 80,000 mark on Monday following buying in oil, auto and banking shares amid fresh foreign fund inflows.
The 30-share Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08 with 26 of its constituents ending higher. During the day, it surged 778.26 points or 0.97 per cent to 80,636.05.
The 50-share NSE Nifty jumped by 221.75 points or 0.91 per cent to 24,585.05 .
"The market saw a relief rally post a 3-month low; a positive global cue and a gradual return of FIIs supported the sentiment. Investors are positively assessing the upcoming US-Russia Summit this week, which may possibly give way to a de-escalation in geopolitical tensions.
"While a near-term caution may still prevail, the more definite assessment of the US trade and growth impact is yet to be assessed fully," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
Among Sensex firms, Tata Motors, Eternal, Trent, State Bank of India, UltraTech Cement and Larsen & Toubro were the major gainers.
However, Bharat Electronics, Bharti Airtel and Maruti were the laggards.
The BSE midcap gauge climbed 0.79 per cent and the smallcap index rose by 0.35 per cent.
The majority of the BSE sectoral indices ended higher. Realty surged the most by 1.86 per cent, followed by bankex (1.13 per cent), healthcare (1.12 per cent), auto (1.03 per cent), financial services (1 per cent), utilities (0.92 per cent), services (0.90 per cent) and power (0.85 per cent).
Consumer Durables emerged as the only laggard.
"Markets started the week on an upbeat note, gaining nearly a percent and providing a breather after the recent decline. The tone was positive from the outset and further strengthened in the latter half, supported by a noticeable recovery in heavyweights across sectors," Religare Broking SVP, Research, Ajit Mishra said.
As many as 2,237 stocks advanced while 1,930 declined and 170 remained unchanged on the BSE.
In Asian markets, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory while South Korea's Kospi ended marginally lower. Markets in Japan were closed due to a holiday.
European markets were trading mostly lower. The US markets ended higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,932.81 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dipped 0.45 per cent to USD 66.29 a barrel.
On Friday, the Sensex tanked 765.47 points or 0.95 per cent to settle at 79,857.79. The Nifty dropped 232.85 points or 0.95 per cent to 24,363.30.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
US service member missing after Iran shot down fighter jet rescued
Washington (AP): A US service member who had been missing since Iran shot down a fighter jet has been rescued, President Donald Trump wrote in a social media post early Sunday.
The crew member had been missing since Friday, when Iran downed a US F-15E Strike Eagle. A second crew member was rescued earlier.
Trump wrote that the aviator is injured but “will be just fine,” adding that he took refuge “on the treacherous mountains of Iran.”
Trump added that the rescue involved “dozens of aircraft” and that US had been monitoring his location “24 hours a day, and diligently planning for his rescue.”
The war began with joint US-Israel strikes on February 28 and has killed thousands, shaken global markets, cut off key shipping routes and spiked fuel prices. Both sides have threatened, and hit, civilian targets, bringing warnings of possible war crimes.
The fighter jet was the first US aircraft to have crashed in Iranian territory since the conflict in late February.
Trump said last week that the US had “decimated” Iran and would finish the war “very fast.”
Two days later, Iran shot down two US military planes, showing the ongoing perils of the bombing campaign and the ability of a degraded Iranian military to continue to hit back.
The other jet to go down was a US A-10 attack aircraft. Neither the status of the crew nor exactly where it crashed was immediately known.
A frantic US search-and-rescue operation unfolded after the crash of the F-15E jet on Friday, focusing on a mountainous region in Iran's southwestern province of Kohgiluyeh and Boyer-Ahmad.
Iran also promised a reward for anyone who turned in the “enemy pilot.” Iran's joint military command on Saturday said that it also struck two US Black Hawk helicopters Friday, but The Associated Press couldn't independently verify that.
