Equity indices end at record closing levels; Nifty50 closes above 11,500
Mumbai, Aug 20 : Positive global cues and recovery in the Indian rupee lifted the benchmark S&P BSE Sensex and NSE Nifty50 to provisionally end at record closing highs on Monday.
Heavy buying activity was witnessed in capital goods, metal and oil and gas stocks, analysts said.
Earlier in the day, both the indices -- BSE Sensex and the NSE Nifty50 -- touched their all-time intra-day high levels of 38,340.69 points and 11,565.30 points respectively.
At 3.30 p.m., the wider Nifty50 of the National Stock Exchange provisionally ended at a fresh closing high of 11,551.75 points, up 81 points or 0.71 per cent from its previous close.
The benchmark S&P BSE Sensex which had opened at 38,075.07 points, closed at 38,278.75, points, higher by 330.87 points or 0.87 per cent from its previous close. It touched an intra-day low of 38,050.69 points.
Sector-wise, the S&P BSE Capital Goods index gained 668.41 points, the metal index rose by 332.36 points and the oil and gas was up 191.82 points by the end of the day's trade.
On the other hand, the IT index declined by 188.84 points, the consumer durable index fell 127.24 points and the Teck (technology, entertainment and media) stocks declined by 76.07 points.
The top gainers at the S&P BSE Sensex were Larsen and Toubro, Tata Motors (DVR), Tata Motors, ONGC, and Tata Steel. On the contrary the majors losers in the day were Infosys, Maruti Suzuki, ICICI Bank, Axis Bank and Hindustan Uniliver.
On Friday, the indices traded on a positive note with the Sensex closing at 37,947.88 points and the Nifty50 at 11,470.75 points.
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Inappropriate for MLAs seeking free IPL tickets, says D.K. Suresh
Bengaluru: Bengaluru Milk Union Ltd President D.K. Suresh on Monday said it is inappropriate for MLAs to seek free IPL tickets, adding that those interested in watching matches should pay for them personally.
Speaking to reporters near his residence in Sadashivanagar, he said, “IPL is a commercial tournament and does not represent the country. It is not right for public representatives to focus too much on such matters.”
Referring to the recent controversy during the RCB celebrations, he said, “let us find out who benefited the most from the statements made during the incident.” He also pointed out that BJP MLAs had received IPL tickets as well.
Responding to discussions about relocating the Chinnaswamy Stadium, Suresh said the government has already approved the construction of a new stadium at a location he had proposed.
“I had suggested building a stadium in Surya City and submitted a proposal for it. Bengaluru needs four stadiums in four directions to cater to its growing population and encourage youth participation in sports,” he said.
He noted that apart from Kanteerava Stadium, KSCA, and the Football Stadium, there are limited facilities in the city.
“When I was a Lok Sabha member, I had proposed allocating 100 acres in my constituency at Surya City. The land was later earmarked and the plan approved,” he added.
Suresh said he has discussed the project with Minister Zameer Ahmed Khan, Rajiv Gandhi Housing Corporation Chairman Shivalingegowda, and Anekal MLA Shivanna.
“The Cabinet has now approved the project, and a stadium will be developed on around 50–60 acres,” he said.
He further added that he has requested the Deputy Chief Minister to build another stadium at Shivarama Karanth Layout through the BDA, where 40 acres have been allocated. Plans are also being discussed to develop a well-equipped stadium in Bidadi.
Commending state government's recent bilingual policy move, Suresh said forcing children to learn three languages could affect their comprehension.
“It is a good decision to make two languages compulsory. Learning a third language should be left to the choice of students and parents,” he said.
Responding to criticism from BJP leaders, he said their tendency is to oppose every decision of the government.
“To please their central leadership, they take a pro-Hindi stance. Instead, they should advocate for the adoption of Kannada in all states,” he said.
When asked about the earlier three-language policy under Congress, he said, “the situation is different now. Today, the focus should be on quality learning. Kannada should remain the primary language, while students and parents can choose an additional language.”
