Sensex jumps over 700 points, Nifty regains 26,000-level in early trade
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Mumbai (PTI): Equity benchmark indices Sensex and Nifty surged in early trade on Thursday amid growing optimism on the US-India trade deal front.
Fresh foreign fund inflows and buying in IT stocks also drove the markets higher during the initial trade.
The 30-share BSE Sensex jumped 734.36 points to 85,160.70 in early trade. The 50-share NSE Nifty surged 198.3 points to 26,066.90.
From the Sensex firms, Infosys, HCL Tech, Tech Mahindra, Axis Bank, Hindustan Unilever and Kotak Mahindra Bank were among the gainers.
However, Eternal and Bajaj Finserv were the laggards.
"Reports of an imminent trade deal between India and US is doing the rounds in market circles and the market reaction through Nifty implied open confirms this. The market rally which has already begun in the festival season will accelerate enabling the Nifty to set new record highs.
"Unprecedented record sales during the last few days has the potential to improve corporate earnings. FIIs turning buyers recently and short covering are factors that can fuel the rally. Clearly, it is advantage bulls!," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea's Kospi traded higher while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng quoted lower.
US markets ended in negative territory on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 96.72 crore on Tuesday, according to exchange data.
"Dalal Street kicked off Samvat 2082 on a jubilant note, with the Sensex and Nifty marking their fifth straight day of gains during the Mahurat trading session. The mood remains buoyant as the US reportedly plans to slash tariffs on Indian imports to just 15–16 per cent — a game-changing move that could supercharge India's trade competitiveness and exports," Prashanth Tapse, Senior VP (Research), Mehta Ltd, said.
Global oil benchmark Brent crude jumped 2.56 per cent to USD 64.19 a barrel.
Equity markets were closed on Wednesday on account of Diwali Balipratipada.
In a special one-hour Muhurat trading session on Tuesday, the Sensex rose by 62.97 points or 0.07 per cent to settle at 84,426.34. The Nifty went up by 25.45 points or 0.10 per cent to settle at 25,868.60.
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Man shoots woman dead, hangs self in UP’s Baghpat over unrequited love
Baghpat (UP) (PTI): A 20-year-old woman was shot dead by a man who later committed suicide in an apparent case of unrequited love in Uttar Pradesh’s Baghpat on Thursday, police said.
The incident took place in Mahavatpur Bawli village in the Badaut area, where the accused, Satnam, 22, allegedly shot the woman before hanging himself from a tree, they said.
Superintendent of Police, Suraj Kumar Rai, said preliminary findings suggest the incident was linked to unrequited love, adding that all aspects of the case are being probed.
According to police, the deceased woman, Guddan, daughter of Lakhmi Saini, worked as a tailor from her home.
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Satnam, a resident of the same village, had allegedly been in one-sided love with her for a long time and was pressuring her to marry him.
Police said that around 10.30 am, Guddan stepped out of her house to buy some items when Satnam, who was already waiting in a back lane, stopped her.
An argument ensued, following which he allegedly shot her in the head with a country-made pistol.
The woman collapsed on the spot with serious injuries.
The accused then went back to his house and committed suicide by hanging himself from a tree, police said.
Upon receiving information, police rushed to the spot and took the injured woman to a community health centre, where doctors declared her dead.
A forensic team recovered the weapon used in the crime from the scene, they added.
Police have sent both bodies for post-mortem and initiated an investigation, they said.
