Sensex, Nifty rebound after days of downtrend
Mumbai, Nov 19: Equity benchmark indices Sensex and Nifty bounced back on Tuesday after days of downtrend on value-buying at lower levels and rally in blue-chip stocks HDFC Bank, Tech Mahindra and M&M.
Continuous buying by domestic institutional investors also supported the indices, traders said.
Snapping its four days of decline, the BSE benchmark Sensex climbed 239.37 points or 0.31 per cent to settle at 77,578.38. However, fag-end decline in Reliance Industries restricted the market rally. During the day, it zoomed 1,112.64 points or 1.43 per cent to 78,451.65.
The NSE Nifty also bounced back after falling in the past seven trading days. It went up by 64.70 points or 0.28 per cent to settle at 23,518.50.
From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers.
In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,403.40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher.
European markets were trading lower. The US markets ended mostly higher on Monday.
Global oil benchmark Brent crude dipped 0.25 per cent to USD 73.12 a barrel.
The 30-share BSE benchmark dropped 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline on Monday. Falling for the seventh day in a row, the Nifty dipped 78.90 points or 0.34 per cent to 23,453.80.
Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra.
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Vinod Tawde seeks apology from Kharge, Rahul through legal notice, warns of defamation lawsuit
Cash-for-vote row
New Delhi, Nov 22: BJP leader Vinod Tawde has demanded an apology from Congress president Mallikarjun Kharge and the Leader of Opposition in Lok Sabha Rahul Gandhi for making "false and baseless" allegations against him in the cash-for-votes incident in Maharashtra, saying if they don't he would sue them for defamation.
Tawde was accused by Bahujan Vikas Aghadi, a regional party, of distributing Rs 5 crore to woo voters, with its members barging into a hotel room on November 19 in a Mumbai suburb, where the BJP leader was present.
The former Maharashtra minister and BJP national general secretary claimed innocence, saying the alleged amount was not recovered in the probe by the Election Commission and police.
"The Congress only believes in spreading lies, and this incident is a proof of the party's low level politics to dent me and my party's image," Tawde said.
The two Congress leaders and the party spokesperson Supriya Shrinate seized on the row to accuse the BJP of using money power to influence the November 20 assembly polls in the state.
The legal notice sent to the three claimed that they were aware that they were pushing a "totally false story fabricated" by them.
"You all have deliberately, mischievously with the sole intention of damaging the reputation of our client intentionally fabricated the story distribution of money. You all have published false, baseless allegations against our client on various media for tarnishing his image in the eyes of right thinking people in the society," the notice read.
The Congress leaders were in a "great hurry" to damage Tawde's reputation, they did not bother to check the fact and or despite knowing the entire fact they made the false, baseless allegations, it said.
"The entire imputation made by you all are totally false, baseless, malicious and mala fide and as our client is in no way involved in any such illegal activity and as a responsible office bearer of the national political party he is aware of his duties," it added.
The notice demanded an "unconditional apology" to Tawde within 24 hours from the time the receipt of the notice, which was sent on November 21, and published in newspapers and X.
If they do not offer apology, then Tawde will initiate criminal proceedings under Section 356, which covers defamation, of the Bharatiya Nyaya Sanhita and also civil proceedings for the damages of Rs 100 crore against the three Congress leaders, the notice said.
