Stock markets rally in early trade tracking firm global peers, fresh foreign fund inflows
Mumbai (PTI): Equity benchmark indices Sensex and Nifty were trading higher in early trade on Thursday, mirroring a rally in global equity markets with fresh foreign fund inflows also adding to the optimistic trend.
The 30-share BSE Sensex climbed 284.49 points to hit its 52-week high of 85,470.96 in early trade. The 50-share NSE Nifty went up by 83.35 points to 26,136 -- its 52-week peak.
From the Sensex firms, Adani Ports, Reliance Industries, Tata Motors Passenger Vehicles, Axis Bank, Mahindra & Mahindra and Power Grid were among the gainers.
However, HCL Tech, Tech Mahindra, ICICI Bank and Maruti were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading higher. The Kospi and the Nikkei 225 index were trading over 3 per cent higher.
US markets ended in positive territory on Wednesday.
"Global markets continue to offer a steady and supportive backdrop for India, with no fresh negative triggers emerging overnight. US equities ended firmly in the green, led by a sharp rebound in technology shares after Nvidia's strong earnings guidance reignited optimism across AI and semiconductor-linked sectors. All three major indices — the S&P 500, Dow Jones, and Nasdaq — posted healthy gains," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Foreign institutional investors (FIIs) turned buyers on Wednesday. They bought equities worth Rs 1,580.72 crore in the previous trade, according to exchange data. Domestic Institutional Investors (DIIs) also bought stocks worth Rs 1,360.27 crore on Wednesday.
Brent crude, the global oil benchmark, climbed 0.27 per cent to USD 63.68 per barrel.
On Wednesday, the Sensex jumped 513.45 points or 0.61 per cent to settle at 85,186.47. The Nifty climbed 142.60 points or 0.55 per cent to 26,052.65.
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K'taka remains central to Aequs' strategy, says min Patil amid row over firm's investment in TN
Bengaluru (PTI): Karnataka Commerce and Industries Minister M B Patil on Monday asserted that Aequs continues to expand in the state and that its proposed investment in neighbouring Tamil Nadu was a business decision aimed at diversification, not a shift away from Karnataka.
Reacting to criticism on social media over reports that the Karnataka-based firm had signed a major investment deal in Tamil Nadu's Krishnagiri district for setting up a specialised aerospace and defense manufacturing cluster, he said the state government was fully aware of the company's plans and remained confident about its long-term commitment to Karnataka.
"While we welcome every major investment in India, would like to clarify a few points," Patil said in a post on 'X'.
Aequs was significantly expanding its footprint within Karnataka, including a Rs 3,000 crore investment in Kolar for electronics manufacturing.
"Its recently approved Rs 1,500 crore ECMS project will also be grounded in the state. Karnataka remains central to its long-term strategy," he said.
Patil added that the government had prior knowledge of the TN proposal.
The government was already informed and aware that the TN investment is a business decision aimed at geographic diversification and de-risking operations, not a shift away from Karnataka.
"Healthy competition between states strengthens India's manufacturing ecosystem," he said.
Emphasising the state's focus on high-technology sectors, Patil said, "We remain committed to deepening Karnataka's leadership in aerospace and advanced manufacturing, and our engagement with industry partners is strong and ongoing."
The Aequs Group has pledged Rs 4,000 crore to bolster Tamil Nadu's aerospace manufacturing capabilities at the SIPCOT-Shoolagiri Industrial Park in Krishnagiri district.
The group proposes to establish a specialised aerospace and defense manufacturing cluster for the production of aircraft engines, gearbox components, and precision engineering parts. This initiative is expected to provide employment to 7,000 individuals.
