Stock markets log gains for 5th day; Sensex climbs 213 points led by IT shares
Mumbai, Aug 20 (PTI): Benchmark BSE Sensex closed higher by 213 points on Wednesday, extending its rally to the fifth consecutive day on heavy buying in IT and FMCG shares.
The 30-share BSE Sensex climbed 213.45 points or 0.26 per cent to settle at 81,857.84 with 15 of its constituents ending higher and the rest with losses. During the day, it jumped 341.23 points or 0.41 per cent to 81,985.62.
The 50-share NSE Nifty edged higher by 69.90 points or 0.28 per cent to 25,050.55.
Among Sensex firms, Infosys surged the most by 3.88 per cent, followed by Tata Consultancy Services, which climbed 2.69 per cent. Hindustan Unilever, NTPC, Tata Steel, Tech Mahindra, Eternal and HCL Tech were also among the gainers.
However, Bharat Electronics, Bajaj Finance, Tata Motors and Trent were among the laggards.
Reliance Industries dropped over half a per cent, capping gains in the key index.
"The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the US tariffs and sanctions on purchase of Russian crude, continue to pose challenges. Hence, greater visibility on US trade policy and the path of earnings recovery will be critical.
"Meanwhile, global sentiment is cautious ahead of the release of the FOMC minutes later today, with investor attention gradually shifting to the US Fed Chair’s speech at Jackson Hole this weekend, which is expected to provide clearer guidance on future policy direction," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE midcap gauge climbed 0.39 per cent and smallcap index went up by 0.30 per cent.
Among BSE sectoral indices, BSE Focused IT jumped 2.70 per cent, IT (2.61 per cent), teck (2.22 per cent), FMCG (1.36 per cent), realty (1.04 per cent) and telecommunication (0.68 per cent).
Bankex, oil & gas, financial services and energy were the laggards.
“Today’s advance was largely supported by buying in large-cap IT stocks and steady domestic sentiment. In the absence of any major domestic triggers, global cues such as updates from the Jackson Hole symposium, geopolitical developments, and discussions in the GST Council meeting will remain on investors’ radar,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended higher.
Markets in Europe were trading on a mixed note.
The US markets ended mostly lower on Tuesday.
Investors turned their attention towards US Federal Reserve Chair Jerome Powell's forthcoming statements at the Jackson Hole Symposium and minutes from the Fed's recent meeting.
Rising for the fourth trading day in a row on Tuesday, the Sensex edged higher by 370.64 points or 0.46 per cent to settle at 81,644.39. The Nifty climbed 103.70 points or 0.42 per cent to 24,980.65.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 634.26 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 1.14 per cent to USD 66.54 a barrel.
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4 children test HIV positive in MP govt hospital; contaminated blood transfusion suspected
Satna/Bhopal (PTI): Four children suffering from thalassemia have tested HIV positive at Satna District Hospital in Madhya Pradesh allegedly due to contaminated blood transfusions, officials said on Tuesday.
The case is four months old and an investigation is underway into it, an official said.
Officials suspect the use of contaminated needles or blood transfusions for the spread of infection to the children.
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MP Health Minister Rajendra Shukla told reporters in Bhopal that he has ordered a probe into the matter and sought a report.
“It is also being investigated whether the blood transfusion took place in other hospitals also or only in the government hospital,” he said.
The affected children, aged between 12 and 15 years, received blood transfusions from the hospital's blood bank, as per an official.
Devendra Patel, in-charge of the blood bank at Sardar Vallabhbhai Patel District Hospital in Satna, said four children have tested HIV positive and an investigation is underway to determine how they got infected.
"Either an infected needle was used or a blood transfusion occurred. These are the two main reasons I believe. Blood transfusion seems to be the most likely cause," he told PTI Videos.
All these children suffer from thalassemia, and some have received 80 or 100 blood transfusions, he said.
A family member of one of the affected children said that their child was found to be HIV positive during a routine checkup about four months back, and he has been receiving medication, but it had proven to be of no use.
After taking the medication for HIV, the child starts vomiting, feels low and becomes ill, he said.
After the four children were detected with HIV infection, their family members were also tested and the results came out negative, he added.
The Opposition Congress targeted the government over the matter and demanded the resignation of Health Minister Shukla.
Speaking to reporters in Bhopal, Congress MLA and former minister Sachin Yadav claimed such incidents were continuously occurring in Madhya Pradesh.
Earlier, a case of toxic cough syrup came to light in Chhindwara, followed by incidents of rat bites at hospitals in Indore and Satna, and now children have been given HIV-infected blood, he said.
"The health minister is unable to manage the department. He should resign. A murder case should be filed against those responsible for the Satna incident," Yadav said.
Senior Congress leader Sajjan Singh Verma termed it a failure of the government. Chief Minister Mohan Yadav's government has no connection with ground realities, he charged.
"Somewhere rats are roaming in hospitals, somewhere children are being given HIV-infected blood. Instead of preventing HIV, you are spreading it. Mohan Yadav should wake up from his slumber. Children are the nation's heritage and should be taken care of," he added.
