Sensex rises 455 pts to end at over week's high on early monsoon, easing trade worries
Mumbai, May 26 (PTI): Benchmark Sensex on Monday advanced by 455 points to close at over a week's high due to buying in auto and IT shares following positive macro factors and easing trade worries as US President Donald Trump delayed 50 per cent EU tariffs to July 9.
Rising for the second session, the 30-share BSE Sensex jumped 455.37 points or 0.56 per cent to settle at 82,176.45. During the day, it surged 771.16 points or 0.94 per cent to 82,492.24.
The NSE Nifty climbed 148 points or 0.60 per cent to settle at 25,001.15, a level not seen since May 16.
The early arrival of monsoon and the Reserve Bank announcing a record Rs 2.69 lakh crore dividend to the government for FY25 also added to the optimistic trend in the markets, experts said.
Among Sensex stocks, leading tractor and auto manufacturer Mahindra & Mahindra rose the most by 2.17 per cent. HCL Tech, Tata Motors, Nestle, ITC, Hindustan Unilever, Larsen & Toubro, and Tech Mahindra were the major gainers.
In contrast, Eternal, UltraTech Cement, Power Grid, Tata Steel and Kotak Mahindra Bank were among the laggards. Eternal dropped the most by 4.51 per cent.
India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said.
The Reserve Bank on Friday announced a record Rs 2.69 lakh crore dividend to the government for FY25, 27.4 per cent higher than 2023-24, helping the exchequer to tide over challenges posed by US tariffs and increased spending on defence due to the conflict with Pakistan.
"The US decision to consider extending the deadline for imposing aggressive tariffs on EU, coupled with a decline in the dollar index, contributed to a rebound in the domestic equity markets. These developments suggest that trade negotiations are progressing constructively, which could help moderate market volatility.
"Additionally, the early onset of the southwest monsoon and a decline in domestic bond yields have encouraged investors to maintain their focus on riskier assets," Vinod Nair, Head of Research, Geojit Investments Limited, said.
"Although the market pared most of its early gains, benchmark indices closed above their key psychological levels on steady all-round buying support due to optimism in European indices and mixed Asian cues," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
The BSE midcap gauge climbed 0.56 per cent and smallcap index went up by 0.48 per cent.
Among sectoral indices, auto jumped 1.04 per cent, BSE Focused IT (1.04 per cent), FMCG (0.93 per cent), industrials (0.98 per cent), IT (0.95 per cent), capital goods (0.91 per cent), teck (0.88 per cent) and oil & gas (0.67 per cent).
Services emerged as the only laggard.
As many as 2,301 stocks advanced while 1,772 declined and 194 remained unchanged on the BSE.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in the positive territory, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher in mid-session deals.
US markets ended lower on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,794.59 crore on Friday, according to exchange data.
The southwest monsoon hit Kerala on Saturday, marking its earliest arrival over the Indian mainland since 2009 when it reached the southern state on May 23, the India Meteorological Department (IMD) said.
Global oil benchmark Brent crude climbed 0.17 per cent to USD 64.89 a barrel.
On Friday, the 30-share BSE benchmark surged 769.09 points or 0.95 per cent to settle at 81,721.08. The Nifty rallied 243.45 points or 0.99 per cent to 24,853.15.
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UP: Govt hospital staff booked for sexually assaulting woman in pretext of ultrasound test
Gorakhpur (PTI): A hospital employee was booked for allegedly sexually assaulting a woman in the pretext of an ultrasound test here in the district women's hospital, police said on Saturday.
According to the complaint, the woman, a resident of the Gulriha area, visited the district women's hospital on Thursday morning for an ultrasound test.
She was directed to a room, where Abhimanyu Gupta was conducting ultrasounds. When her turn came, the accused allegedly stared at her and told her to remove all her clothes, claiming it was necessary for the test and that a massage would also be required, she said.
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The woman alleged that once she complied, the accused began making obscene advances and tried to force himself on her. When she screamed, he allegedly gagged her, abused her and threatened to kill her before pushing her out of the room.
She said her complaints within the hospital went unheard, forcing her to approach the police.
Taking cognisance of the complaint, the hospital administration constituted a three-member inquiry committee, officials said.
Senior consultant (paediatrics) Dr Jay Kumar said, "The woman has levelled serious allegations against a staff member. Senior officials have been informed, and a departmental inquiry is underway. Strict action will be taken if the charges are proved."
Kotwali Station House Officer Chatrapal Singh said a case has been registered, and efforts are on to nab the accused.
