Stock markets extend winning run to 6th day; Sensex climbs 143 points on buying in ICICI, Reliance
Mumbai, Aug 21 (PTI): Stock markets extended the winning run to the sixth consecutive day on Thursday, with benchmark Sensex closing higher by nearly 143 points on buying in blue-chip shares ICICI Bank and Reliance Industries.
The 30-share BSE Sensex climbed 142.87 points or 0.17 per cent to settle at 82,000.71 in a restricted trade. During the day, it rallied 373.33 points or 0.45 per cent to 82,231.17. As many as 14 Sensex shares closed higher, while 16 ended with losses.
The 50-share NSE Nifty rose by 33.20 points or 0.13 per cent to 25,083.75.
Among Sensex firms, Bajaj Finserv, ICICI Bank, Reliance Industries, Bajaj Finance, Larsen & Toubro and Bharat Electronics were the major gainers. However, Power Grid, Eternal, Hindustan Unilever and Adani Ports were among the laggards.
Gains in pharma, realty, and financials shares supported the rally while profit-taking in FMCG, energy, and auto shares capped gains.
Market experts stated that the proposed GST reforms and a recent credit rating upgrade have bolstered investors' confidence. A Group of Ministers on GST rate rationalisation has accepted the Centre's proposal to move to a two-slab structure of 5 per cent and 18 per cent. The GST Council is likely to take a final call on the proposal next month. Goods and Services Tax is a 4-tier structure of 5, 12, 18 and 28 per cent.
"Markets traded lacklustre on the weekly expiry day and ended largely unchanged amid mixed cues. After a flat start, the Nifty moved in a narrow range throughout the session," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Investors also turned their attention towards US Federal Reserve Chair Jerome Powell's forthcoming statements at the Jackson Hole Symposium.
The BSE smallcap gauge ended flat, ending marginally higher by 0.01 per cent. The midcap index dipped 0.12 per cent.
Among BSE sectoral indices, healthcare climbed 0.61 per cent, realty (0.46 per cent), industrials (0.25 per cent), oil & gas (0.19 per cent) and financial services (0.17 per cent).
Power, commodities, consumer discretionary, FMCG, utilities and auto were among the laggards.
As many as 2,098 stocks advanced while 1,995 declined and 155 remained unchanged on the BSE.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled in positive territory, while Japan's Nikkei 225 index and Hong Kong's Hang Seng ended lower. Markets in Europe were trading in negative territory.
The US markets ended mostly lower on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,100.09 crore on Wednesday, while Domestic Institutional Investors (DII) bought stocks worth Rs 1,806.34 crore, according to exchange data.
Global oil benchmark Brent crude climbed 0.90 per cent to USD 67.44 a barrel.
In the six-day rally to Thursday, the Sensex has climbed 1,765 points, or 2.14 per cent, and the Nifty by 596 points, or 2.4 per cent.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Indigo flights chaos: SCR to run special trains to clear passenger rush
Hyderabad (PTI): The South Central Railway on Saturday announced that it would run four special trains to manage the surge in passengers resulting from the large-scale cancellation of IndiGo flights here.
The move comes as flyers face significant disruption and long queues at the airport due to the cancellation.
A press release from the SCR said it is running the special trains to clear the extra rush of passengers to Chennai, Mumbai and Shalimar (Kolkata) from Hyderabad today.
Meanwhile, as many as 43 outbound Indigo flights were cancelled from here on Saturday, Rajiv Gandhi International Airport sources said.
ALSO READ: IndiGo cancels over 200 flights from Delhi, Mumbai on Saturday
Similarly, 26 incoming flights are also likely to be cancelled during the day, they said.
The flight cancellations drew ire from passengers, who thronged the IndiGo counters at the airport demanding to know the exact situation.
“This is utter nonsense! Digiyatra done, message received that departure has been rescheduled ahead of the scheduled departure and now upon arriving at Hyderabad airport coming to know at the security checkpoint that Indigo flight is cancelled,” Tarun Singha, former Ministry of Defence spokesperson said in a post on X.
“But the thing is if you don’t shout they do nothing. Example at Hyderabad Airport, there was no staff no flight information for an hour. Then a fellow passenger started shouting on mic and an Indigo staff appeared finally,” a netizen said in a post.
On Friday, when IndiGo cancelled over 1,000 flights from across airports, its CEO Pieter Elbers apologised in a video message for the major inconvenience caused to passengers due to the disruptions.
In the one-way video communication, Elbers also said that the airline was expecting fewer than 1,000 flights on Saturday.
