Stock markets end flat after volatile session as investors await outcome of US-Russia talks
Mumbai, Aug 14 (PTI): Benchmark stock indices Sensex and Nifty ended flat in a highly volatile trade on Thursday as investors turned cautious ahead of the US-Russia talks on August 15.
Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. During the day, it rallied 211.27 points or 0.26 per cent to 80,751.18.
The 50-share NSE Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.
Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers.
However, Tata Steel, Tech Mahindra, Adani Ports and Bharat Electronics were among the laggards.
The Trump-Putin meeting could have significant implications for energy markets, potentially leading to an easing of sanctions against Moscow.
"After a volatile weekly expiry-day session, Indian equities ended flat as investors traded cautiously ahead of the US-Russia summit. IT and pharma stocks advanced on the back of a softer US inflation data and dovish outlook. Banking and consumer durables also gained on hopes of a consumption-led recovery," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
The BSE smallcap gauge declined 0.59 per cent and midcap index dipped 0.18 per cent.
Among BSE sectoral indices, consumer durables climbed 0.82 per cent, while BSE Focused IT (0.45 per cent), teck (0.39 per cent), IT (0.38 per cent), financial services (0.26 per cent), bankex (0.23 per cent) and consumer discretionary (0.13 per cent) also advanced.
Metal dropped the most by 1.40 per cent, followed by oil & gas (1.18 per cent), commodities (0.73 per cent), FMCG (0.57 per cent), power (0.55 per cent) and industrials (0.53 per cent).
On a weekly basis, Sensex climbed 739.87 points or 0.92 per cent and Nifty edged higher by 268 points or 1.10 per cent, snapping their six-week losing streak.
Meanwhile, S&P upgraded India's sovereign credit rating to 'BBB' with a stable outlook after a gap of nearly 19 years, citing robust economic growth, political commitment for fiscal consolidation and 'conducive' monetary policy to check inflation.
"India remains among the best performing economies in the world...The quality of government spending has improved in the past five to six years," S&P Global Ratings said.
The impact of US tariffs on the Indian economy will be "manageable", S&P said, adding that a 50 per cent tariff on US exports (if imposed) will not pose a "material drag" on growth.
"India is relatively less reliant on trade and about 60% of its economic growth stems from domestic consumption," it said.
In Asian markets, South Korea's Kospi settled in positive territory while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Equity markets in Europe were trading mostly higher.
The US markets ended higher on Wednesday.
Wholesale price inflation declined to a 2-year low of (-) 0.58 per cent in July, as deflation in food and fuel kept WPI in the negative zone for the second consecutive month, government data released on Thursday showed.
Global oil benchmark Brent crude climbed 0.53 per cent to USD 65.92 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,644.43 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,623.79 crore, according to exchange data.
Equity markets would remain closed on Friday for Independence Day.
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Shah Rukh Khan, Kajol unveil ‘DDLJ’ sculpture at London’s Leicester Square
London (PTI): Bollywood stars Shah Rukh Khan and Kajol huddled under an umbrella on a rainy Thursday in London to unveil their bronze likeness from an iconic ‘Dilwale Dulhania Le Jayenge’ scene.
The sculpture of the duo joins Leicester Square’s ‘Scenes in the Square’ trail depicting memorable shots from some of the world’s most famous films, with ‘DDLJ’ marking a Bollywood first and the 30th anniversary of the 1995 box-office hit. It is in this popular London square that SRK as Raj and Kajol as Simran first cross paths unknowingly.
“DDLJ was made with a pure heart. We wanted to tell a story about love, how it can bridge barriers and how the world would be a better place if it had a lot of love in it, and I think this is why 'DDLJ' has had a lasting impact for over 30 years now," said Khan.
“Personally, 'DDLJ' is part of my identity, and it is humbling to see film, and Kajol and me, receiving so much love since it was released,” he said.
He expressed his gratitude to the Heart of London Business Alliance, behind the cinematic trail at Leicester Square, for celebrating ‘DDLJ’ and “immortalising” its lead stars.
“Seeing ‘DDLJ’ become the first Indian film to be honoured in the iconic Scenes in the Square trail is an emotional moment and has brought back so many memories.
"I feel immense pride knowing the film has been embraced around the world, and I want to share this moment with the entire cast and crew of ‘DDLJ’, my friend and director Aditya Chopra and the Yash Raj Films family. This is a moment I will never forget,” added Khan.
Kajol, joined by her daughter Nysa and son Yug, posed with Khan in front of the statue as she braved the rain in a green saree.
“It’s incredible to see ‘Dilwale Dulhania Le Jayenge’ continue to receive so much love, even 30 years later. Watching the statue being unveiled in London felt like reliving a piece of our history - a story that has truly travelled across generations,” said Kajol.
“Seeing it find its rightful place in Leicester Square, a location of such enormous significance to ‘DDLJ’, makes this moment even more special. For the film to be honoured in this way in the UK – the first Indian film to receive such recognition – is something that will forever stay in the hearts and minds of all the ‘DDLJ’ fans across the world,” she said.
Their statue, captured in a dancing pose from the hit song ‘Mehndi Laga Ke Rakhna’, joins the likes of Harry Potter, Bridget Jones, Mary Poppins, and Batman in what is dubbed as an ever-growing celebration of movie magic in a square packed with multiplex cinema screens.
“When ‘Dilwale Dulhania Le Jayenge’, DDLJ, was released 30 years ago, the film became a defining moment for Indian cinema and changed the face of the industry, capturing the hearts of everyone who saw it all over the globe," said Akshaye Widhani, CEO of Yash Raj Films.
“We’re thrilled to be the first Indian film to be represented in ‘Scenes in the Square’. It also marks 30 years of DDLJ, a film that has spread love and joy globally, and shows the cultural impact it has had in UK.
“We are honoured that our superstars and our film are being recognised on the world stage alongside the Hollywood elite, from Gene Kelly to Laurel & Hardy to Harry Potter. This statue will be a great way to express the international appeal of Indian movies and build bridges amongst communities through cinema,” he said.
Since its release in 1995, ‘DDLJ’ has become the longest-running film in Hindi cinema history.
Ros Morgan, Chief Executive at Heart of London Business Alliance, said: “We’re proud to welcome global megastars Shah Rukh Khan and Kajol to our Scenes in the Square trail.
"Dilwale Dulhania Le Jayenge is a cinematic phenomenon that has shaped generations, and London’s first tribute to Indian cinema honours a story whose magic continues to captivate audiences worldwide.”
It is a particularly special year for the film, with a musical based on the romance playing to packed houses at Manchester’s Opera House earlier this year. Aditya Chopra reprised his role as director of the English language stage production, ‘Come Fall In Love – The DDLJ Musical’, which revolved around the love story of Simran and Roger.
The script was a nod to the original as it followed Simran as a young British Indian woman who finds herself engaged to a family friend in India in an arranged marriage. However, the plot thickens when she falls in love with a British man named Roger.
