Stock markets bounce back in early trade amid rally in global peers, buying in blue-chips
Mumbai (PTI): Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking a rally in global markets and buying in blue-chip stocks.
The 30-share BSE Sensex climbed 376.89 points to 83,836.04 in early trade. The 50-share NSE Nifty went up by 81.5 points to 25,679.15.
From the Sensex firms, Asian Paints jumped over 4.50 per cent.
Mahindra & Mahindra, Reliance Industries, State Bank of India, Adani Ports, Trent and Larsen & Toubro were also among the gainers.
However, Power Grid, Eternal, Bajaj Finance and HDFC Bank 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 traded in the positive territory.
US markets ended higher on Wednesday.
Meanwhile, Commerce and Industry Minister Piyush Goyal on Wednesday said India and the US are holding continuous discussions for the proposed bilateral trade agreement.
Stock markets were closed on Wednesday for Guru Nanak Jayanti.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,067.01 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,202.90 crore, according to exchange data.
On Tuesday, the Sensex dropped 519.34 points or 0.62 per cent to settle at 83,459.15. The Nifty declined 165.70 points or 0.64 per cent to 25,597.65.
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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.”
