Sensex, Nifty close marginally up after scaling record highs
Mumbai (PTI): Benchmark stock indices Sensex and Nifty scaled fresh lifetime highs in intra-day trade on Thursday before paring some gains to close marginally higher amid positive global trends on growing hopes of a US Fed rate cut and foreign fund inflows.
Rising for the second day, the 30-share BSE Sensex climbed 110.87 points or 0.13 per cent to settle at 85,720.38. During the day, it hit a record high of 86,055.86, reflecting a jump of 446.35 points or 0.52 per cent. However, profit-taking by investors in the second half dragged the index from record high levels.
The earlier lifetime high of the benchmark was 85,978.25, hit on September 27, 2024.
The 50-share NSE Nifty ended marginally higher by 10.25 points or 0.04 per cent at 26,215.55. During the day, the benchmark rallied 105.15 points or 0.40 per cent to hit an all-time high of 26,310.45. The broader index had earlier scaled its record intra-day high of 26,277.35 on September 27, 2024.
Among Sensex firms, Bajaj Finance, ICICI Bank, Hindustan Unilever, Bajaj Finserv, HCL Tech and HDFC Bank were the major gainers.
However, Maruti, Eternal, UltraTech Cement and State Bank of India were among the laggards.
"Indian markets steadied after a volatile session where both the Nifty and Sensex briefly touched record highs before profit booking ensued," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index settled in positive territory.
Equity markets in Europe were trading marginally lower. US markets ended higher on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,778.03 crore on Wednesday, according to exchange data. Domestic Institutional Investors (DIIs) also purchased stocks worth Rs 6,247.93 crore in the previous trade.
"Indian markets soared to record highs on Thursday, lifted by a sharp improvement in global risk appetite amid rising expectations of an interest-rate cut by the US Federal Reserve. The upbeat sentiment across global equities provided a strong tailwind for domestic markets," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
The BSE smallcap gauge dipped 0.38 per cent and midcap ended marginally down by 0.01 per cent.
BSE Financial Services climbed 0.31 per cent, followed by BSE Focused IT (0.24 per cent), IT (0.20 per cent), bankex (0.15 per cent) and teck (0.03 per cent).
Realty dropped 0.76 per cent, energy (0.55 per cent), consumer discretionary (0.48 per cent), capital goods (0.48 per cent) and consumer durables (0.45 per cent).
So far this year, the BSE benchmark has jumped 7,581.37 points or 9.70 per cent, and the Nifty zoomed 2,570.75 points or 10.87 per cent.
Brent crude, the global oil benchmark, dipped 0.05 per cent to USD 63.10 per barrel.
On Wednesday, the Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. The Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30.
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.
Talks ended without deal due to 'excessive demands' made by US: Iran
_vb_89.jpeg)
Islamabad (PTI): The Iran-US talks in Pakistan have ended without a deal due to "excessive demands" made by the American side, a top Iranian official said on Sunday.
Iranian Foreign Ministry spokesperson Esmaeil Baqaei, however, said Iran is determined to utilise all tools, including diplomacy, to secure national interests and protect the country's well-being.
US Vice President JD Vance, who led the American delegation, said the talks failed to reach a peace deal, citing Tehran not forgoing its nuclear programme as one of the key sticking points. He said the American side presented its "final and best offer" to the Iranian side, but it did not accept it.
Baqaei, however, said that the two sides reached a consensus on some issues, but they held different views regarding 2-3 important matters.
He said that during the intensive negotiations that began Saturday morning, with Pakistan's mediation, numerous messages and texts were exchanged between the two sides.
"In the past 24 hours, discussions were held on various dimensions of the main negotiation topics, including the Strait of Hormuz, the nuclear issue, war reparations, lifting of sanctions, and the complete end to the war against Iran and in the region," Baqaei said.
"The success of this diplomatic process depends on the seriousness and good faith of the opposing side, refraining from excessive demands and unlawful requests, and the acceptance of Iran's legitimate rights and interests," he added.
He said it was natural that Iran should not have expected from the beginning to reach an agreement within one meeting. "No one expected that either."
"We have not forgotten and will not forget the experiences of America's breaches of promise and malicious acts," he said.
He thanked Pakistan for hosting the negotiations and for its efforts in advancing this process.
In a brief statement to the media, Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar said Pakistan helped mediate several rounds of “intense and constructive” discussions over the past 24 hours.
Expressing hope for progress, Dar said both sides should maintain a positive spirit to achieve durable peace and regional stability.
Dar said Pakistan would continue to play its role in facilitating engagement and dialogue between Iran and the United States in the coming days.
The Iranian delegation, led by Speaker Mohammad Baqir Galibaf, had arrived in Islamabad on Friday night, while the US delegation, headed by Vice President JD Vance, arrived on Saturday morning.
It was the first direct, high-level engagement between Iran and the US since the 1979 Islamic Revolution.
_vb_30.jpeg)
_vb_76.jpeg)
_vb_91.jpeg)