Sensex rises 419 pts to close above 81k level on gains in metal, auto shares
Mumbai, Aug 4 (PTI): Benchmark BSE Sensex rose by nearly 419 points to close above the 81,000 level on Monday following gains in metal, commodities and auto shares amid a firm trend in global markets.
Snapping the two-day falling streak, the 30-share Sensex gained 418.81 points or 0.52 per cent to settle at 81,018.72 with 26 of its constituents ending higher and four down. During the day, it climbed 493.28 points or 0.61 per cent to hit an intraday high of 81,093.19.
The 50-share NSE Nifty jumped by 157.40 points or 0.64 per cent to close at 24,722.75. In the intraday session, it rose 169.3 points or 0.6 per cent to hit a high of 24,734.65
Among Sensex firms, Tata Steel was the lead gainer, humping by 4.31 per cent. BEL, Adani Ports, Tata Consultancy Services, Tech Mahindra, Bharti Airtel, HCL Technologies, Trent, Mahindra & Mahindra, Reliance Industries, UltraTech Cement and Larsen & Toubro were the major gainers.
However, Power Grid, HDFC Bank, ICICI Bank, Hindustan Unilever were among the laggards.
"The domestic equity market edged higher, supported by strong performance in the metal and auto sectors. A weakening US Dollar, along with robust monthly auto sales and encouraging quarterly results from leading automakers, helped renew investor interest in these sectors.
"The Q1 earnings summary indicates that consumption-driven companies are benefiting from a rebound in volume demand. Meanwhile, rising unemployment and slower job creation in the US have reinforced expectations of a potential Fed rate cut. However, there still remains room for caution due to high US tariffs," Vinod Nair, Head of Research, Geojit Investments, said.
The BSE smallcap gauge rose 0.76 per cent and the midcap index by 1.11 per cent
Among sectoral indices, metal rose by 2.58 per cent, realty by 1.88 per cent, commodities by 1.79 per cent, services by 1.74 per cent, auto by 1.54 per cent, focussed IT by 1.48 per cent, teck by 1.46 per cent and IT by 1.38 per cent.
FMCG and Bankex were the only laggards.
"Markets started the week on a positive note, gaining over half a percent amid mixed cues. Despite a weak handover from the US markets, the Nifty opened slightly in the green and gradually moved higher throughout the session, eventually settling near the day’s high at 24,722.75. Sector-wise, most indices contributed to the rebound, with metals, realty, and auto emerging as the top gainers.
"The broader markets also found some relief after the recent correction, as both the midcap and smallcap indices posted gains of nearly 1.5 per cent," Ajit Mishra – SVP, Research, Religare Broking, said.
In Asian markets, Hong Kong's Hang Seng, South Korea's Kospi and Shanghai's SSE Composite index closed in the positive territory while Japan's Nikkei 225 index in the red territory.
Markets in Europe were trading in the green. The US markets ended in negative territory on Friday.
Global oil benchmark Brent crude declined 1.15 per cent to USD 68.87 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,366.40 crore on Friday, according to exchange data.and the 50-share NSE Nifty declined 203 points to close at 24,565.35.
The rupee depreciated 52 paise to close at 87.70 (provisional) against the US dollar on Monday, as sustained foreign fund outflows and trade tariff uncertainties dented investors' sentiment.
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Kerala woman on trek at Tadiandamol hills goes missing, search operations on
Bengaluru (PTI): A 36-year-old woman, who went trekking at Tadiandamol hills in Kodagu district, has gone missing inside the forest. Additional personnel and drone cameras have been deployed to search for her, Karnataka Forest Minister Eshwar Khandre said on Sunday.
He said Chief Minister Siddaramaiah, expressing concern about the young woman's disappearance, instructed that search operations be intensified.
G S Sharanya had come alone from Kerala for the trek and stayed at a private homestay in Kakkabe village.
She had gone to the high mountain range of Tadiandamol hills in Kodagu with a guide and 15 other trekkers on April 2. She went missing that afternoon. As soon as the matter was known, five teams of 50 people, including police, the anti-Naxal squad, a dog squad and forest personnel were formed, and are conducting searches, the minister's office said in a statement.
According to Khandre, CM Siddaramaiah expressed concern about the disappearance of the young woman who went on a trek and instructed that additional personnel be deployed for the search.
"Four additional teams of 40 personnel have been deployed today. A total of 9 teams are conducting the search operation. Honest efforts continue to find the missing young woman," he said.
Further noting that, as per reports, the young woman last contacted the homestay by phone on Thursday, stating she had lost her way, the minister said, "Search is being conducted based on her phone location. Local tribal people have also rushed to help, and sophisticated thermal drone cameras have been obtained with an additional team deployed starting today."
