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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Ex-minister Ramanath Rai hits out at BJP leader Ashoka for ‘irresponsible’ comments on KC Venugopal
Mangaluru: Congress leader and former minister B Ramanath Rai slammed BJP leader R Ashoka for calling AICC General Secretary KC Venugopal an agent of the party high command, and asked if the general secretary and other office-bearers in the BJP were commission agents too.
Rai, who addressed a press meet at the Congress office in the city on Friday, expressed fury over the recent comments of the BJP leader that Chief Minister Siddaramaiah was presenting himself in a shameless manner in public life. Ashoka, who is also Leader of the Opposition (LoP) in the Karnataka Legislative Assembly, had said that the Congress government had ‘broken every previous record on corruption-related controversies’.
“Ashoka has spoken with sheer ignorance and displays his lack of maturity, as he often does while facing the media. KC Venugopal has been working at organization of the party and it is unbecoming of Ashoka to criticize Venugopal as he did,” Rai told reporters.
“Being in a responsible position, how acceptable is it for Ashoka to pass disrespectful, random comments about another leader who also holds a responsible position? If KC Venugopal is indeed an agent of the party high command, what should we consider BJP leaders to be? Are they brokers?” he asked
Commenting on Ashoka’s allegations of corruption in the Congress government in Karnataka, Rai pointed out, “The KSRTC land was sold to private parties when he (Ashoka) was transport minister. We can find several such cases across the state, which need to be probed.”
The former minister, however, refused to comment on the incident that occurred at Mangaluru airport during CM Siddaramaiah’s visit to the city recently.
Former mayors Ashraf and Shashidhar Hegde, Congress activists Vishwas Kumar Das, Subhodaya Alva, Shabeer, Baby Kundar, Padmanabha, Nazeer Bajal and Prem were present.
