Sensex, Nifty rebound after days of downtrend
Mumbai, Nov 19: Equity benchmark indices Sensex and Nifty bounced back on Tuesday after days of downtrend on value-buying at lower levels and rally in blue-chip stocks HDFC Bank, Tech Mahindra and M&M.
Continuous buying by domestic institutional investors also supported the indices, traders said.
Snapping its four days of decline, the BSE benchmark Sensex climbed 239.37 points or 0.31 per cent to settle at 77,578.38. However, fag-end decline in Reliance Industries restricted the market rally. During the day, it zoomed 1,112.64 points or 1.43 per cent to 78,451.65.
The NSE Nifty also bounced back after falling in the past seven trading days. It went up by 64.70 points or 0.28 per cent to settle at 23,518.50.
From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers.
In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,403.40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher.
European markets were trading lower. The US markets ended mostly higher on Monday.
Global oil benchmark Brent crude dipped 0.25 per cent to USD 73.12 a barrel.
The 30-share BSE benchmark dropped 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline on Monday. Falling for the seventh day in a row, the Nifty dipped 78.90 points or 0.34 per cent to 23,453.80.
Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra.
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Indian blind cricket team not to travel to Pakistan for T20 World Cup, govt denies permission
New Delhi, Nov 19: The Indian blind cricket team will not compete in the T20 World Cup as the government has denied it permission to travel to Pakistan due to security concerns, the national federation said on Tuesday.
The Indian team was supposed to cross the Wagah border on Wednesday for the event, scheduled to be held from November 23 to December 3.
The Indian blind cricket team had got a No Objection Certificate (NOC) from the sports ministry for participation but apparently couldn't get clearance from the MEA.
"We have been told unofficially that the blind team will not be permitted to travel to Pakistan. We were scheduled to travel to Wagah border tomorrow. But as of now no clearance has come from the ministry officials. So, we are a bit disappointed," Shailendra Yadav, General Secretary of the Indian Blind Cricket Association (IBCA), told PTI.
"They are saying when the mainstream cricket team is not safe how can you be safe there. Of course, we will accept the decision, but why hold the decision till the last minute, why not inform us a month or 25 days back. There is a process," Yadab added.
