Sensex rallies 610 pts to reclaim 74,000 on buying in RIL, global equity gains
Mumbai, Mar 6 (PTI): Benchmark stock index Sensex rallied nearly 610 points to reclaim the 74,000 mark while Nifty closed above 22,500 in their second day of gains on Thursday following heavy buying in Reliance Industries on easing crude oil prices.
Recovering from early losses, the 30-share BSE Sensex jumped 609.86 points or 0.83 per cent to settle at 74,340.09. During the day, it surged 660.57 points or 0.89 per cent to hit a high of 74,390.80.
The broader Nifty of NSE advanced 207.40 points or 0.93 per cent to close at 22,544.70. In the session, the 50-share barometer jumped 219.15 points or 0.98 per cent to hit an intraday high of 22,556.45.
From the Sensex pack, Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services, Titan and Bajaj Finance were the major gainers.
Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank were the laggards.
"The Indian indices exhibited resilience, owing to positive global cues following Trump’s softened tariff stance on automakers from Canada & Mexico amidst the weakening dollar index," Vinod Nair, Head of Research, Geojit Financial Services said.
A correction in crude oil prices, influenced by a slowdown in demand and further economic stimulus from China, ignited optimism in the energy and metals sectors, Nair added.
Broader markets also closed higher with the BSE smallcap gauge climbing 1.63 per cent and midcap index advancing 0.65 per cent.
Among the BSE sectoral indices, Energy, metal, Oil & Gas, Commodities, Utilities, Services, Power, healthcare, FMCG and Industrials were the gainers.
Telecommunication and Realty were the laggards.
As many as 3,007 stocks advanced while 989 declined and 107 remained unchanged on the BSE.
In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul ended higher.
European markets in the mid-session deals were trading on a mixed note. Wall Street ended in the positive zone on Wednesday.
Global oil benchmark Brent crude rose by 0.52 per cent to USD 69.66 a barrel.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,895.04 crore on Wednesday, according to exchange data.
On Wednesday, the BSE Sensex surged by 740.30 points to close at 73,730.23. Cutting short its record 10-day falling streak, the broader Nifty of NSE rebounded by 254.65 points to settle at 22,337.30.
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Punjab: Blast near army cantt area in Amritsar, hours after explosion in Jalandhar
Chandigarh (PTI): An explosion occurred near the army cantonment area in Khasa late Tuesday night in Punjab's Amritsar, the second such incident which took place around three hours after a blast outside the headquarters of the Border Security Force's Punjab Frontier in Jalandhar.
According to the police, an investigation into both blast incidents is currently underway, and no injuries have been reported.
The first explosion happened around 8 pm in Jalandhar, while the second blast occurred at approximately 11 pm in Amritsar.
Amritsar (Rural) Senior Superintendent of Police Suhail Mir Qasim stated that police received reports of a loud sound at around 11 pm on a road in Khasa. "Our teams arrived on the scene immediately," he said.
Preliminary inspections indicated that someone had thrown an explosive device towards the boundary wall, leading to the explosion, according to the SSP.
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Police mentioned that a piece of a tin sheet covering the boundary wall had fallen as a result of the blast.
Following the explosion, a team of forensic and bomb disposal squad visited the site to collect samples.
Amritsar Rural Superintendent of Police Aditya S. Warrier, who also visited the scene, confirmed that further investigations are ongoing. Police added that a team of army officials also assessed the situation, after which the area was cordoned off.
CCTV footage from the vicinity shows the explosion occurring at night. A local villager reported that his family was awakened by the loud sound and came outside their home to see what had happened.
Before the Amritsar explosion, a blast took place outside the headquarters of the Border Security Force's Punjab Frontier in Jalandhar district around 8 pm on Tuesday, causing panic in the area.
CCTV footage captured the explosion, which resulted in a cloud of smoke. An unidentified man was seen running for cover following the blast.
The blast ripped apart a scooter, damaged a traffic signal pole and windowpanes of a nearby shop. Locals recounted that the scooter, which was parked outside the BSF headquarters, Punjab Frontier, caught fire shortly after a loud sound. It belonged to Gurpreet Singh, who regularly delivers parcels in the area.
Talking to reporters on Tuesday night, one of Gurpreet's relatives said that the scooter caught fire as he was approaching it. He immediately called his father and informed him about the incident.
Jalandhar Police Commissioner Dhanpreet Kaur confirmed to reporters late Tuesday that an Activa scooter parked near the gate caught fire suddenly. She stated that Gurpreet is fully cooperating with the investigation.
Witnesses nearby reported hearing a loud sound following the explosion.
On April 27, an explosion occurred at a freight corridor rail track in Shambhu in Patiala. Police had arrested four members of a pro-Khalistan terror module, backed by Pakistan's ISI, for the blast.
In light of these incidents, opposition parties have condemned the AAP government for its handling of the situation.
Shiromani Akali Dal (SAD) President Sukhbir Singh Badal criticised Chief Minister Bhagwant Mann, who also holds the home portfolio, over the recent blasts.
"Three blasts in 10 days, two in a single day, May 5: Jalandhar outside BSF headquarters and Sri Amritsar Sahib Army area, April 27: Rajpura rail track. Continued intelligence failures and the collapse of law and order are a matter of grave concern. Chief Minister @BhagwantMann, who is also the state Home Minister, is busy with mimicry and cheap politics. He has forfeited the right to remain in office," Badal said in a post on X.
Punjab Congress chief Amrinder Singh Raja Warring also slammed the Mann government over the two blasts.
"Back-to-back blasts have shaken Punjab. Yesterday in Jalandhar, and now near Khasa Camp in Amritsar, this is deeply alarming. Who is trying to destabilise our state? Why has the Punjab Government failed to prevent such incidents? What is the Government of India doing? Repeated lapses point to a serious breakdown of intelligence and security. Punjab's peace cannot be compromised. We demand accountability and immediate action," Warring said in a post on X.
