Stock markets snap 3-day decline; Sensex jumps 319 pts on gains in IT shares
Mumbai (PTI): Benchmark stock indices Sensex and Nifty bounced back on Monday after three straight days of losses following buying in IT and financial shares and a rally in global peers after a breakthrough in the US government shutdown.
The 30-share BSE Sensex benchmark climbed 319.07 points, or 0.38 per cent, to close at 83,535.35. In the intraday session, the index rallied 538.21 points, or 0.64 per cent, to hit a high of 83,754.49.
The NSE Nifty advanced 82.05 points, or 0.32 per cent, to settle at 25,574.35. During the day, it climbed 161.15 points or 0.63 per cent to hit an intraday high of 25,653.45.
Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries and Larsen & Toubro were the gainers.
Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, State Bank of India, Adani Ports, Hindustan Unilever and NTPC were the laggards.
"The potential resolution of the US government shutdown, coupled with renewed FIIs buying driven by a favourable Q2 earnings season, supported a positive sentiment in the market. The rise in the US 10-year Treasury yield reflects improving risk sentiment toward equities with the reopening of the federal government," Vinod Nair, Head of Research, Geojit Investments, said.
Domestically, strengthening macroeconomic indicators are expected to underpin upward revisions in earnings estimates for H2FY26. This reinforces the current valuations and is likely to attract incremental liquidity, Nair added.
The BSE midcap gauge went up by 0.62 per cent, while smallcap ended 0.28 per cent lower.
Focussed IT climbed 1.66 per cent, followed by information technology by 1.57 per cent, Teck by 1.43 per cent, Capital Goods by 1.24 per cent, Industrials by 0.66 per cent, Consumer Durables 0.62 per cent, Metal by 0.51 per cent and Energy by 0.36 per cent.
On the other hand, Utilities slipped by 0.36 per cent, Realty (0.29 per cent), Services(0.25 per cent), Consumer Discretionary (0.13 per cent), FMCG (0.11 per cent), and Telecommunication (0.09 per cent).
A total of 2,372 stocks declined while 1,962 advanced and 179 remained unchanged on the BSE.
"Sentiment improved as foreign investors turned buyers again after six days of selling. Global cues also supported the move, as progress toward avoiding a US government shutdown boosted investor confidence," Bajaj Broking Research said in a note.
In Asian markets, South Korea's Kospi closed 3.02 per cent higher, Hong Kong's Hang Seng rose 1.55 per cent, Japan's Nikkei 225 index went up 1.33 per cent, and Shanghai's Composite Index finished 0.53 per cent.
Markets in Europe were trading mostly higher. The US markets ended largely higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,581.34 crore on Friday, while Domestic Institutional Investors outnumbered the FIIs by acquiring the stocks worth Rs 6,674.77 crore, according to the exchange data.
On Friday, the 30-share BSE Sensex declined 94.73 points to settle at 83,216.28. The 50-share NSE Nifty dipped 17.40 points to 25,492.30.
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Two arrested in K'taka for assaulting minors, uploading CSAM content
Bengaluru (PTI): Two men were arrested for allegedly sexually assaulting two minor girls, recording the acts on mobile phones and uploading the videos online as child sexual abuse material, police said on Thursday.
The accused have been identified as Kiran Kumar (29), hailing from Chitradurga district, and Aditya M K (20), hailing from Shivamogga district, they said.
A probe was initiated after information was received from the NCRP portal regarding a suspected instance of creation of Child Sexual Abuse Material (CSAM) for online dissemination, police said.
Accordingly, a case was registered at Kaggalipura Police Station under relevant sections of the IT Act on May 10, they added.
Investigation revealed that two minor girl victims were exploited and videos were created and uploaded to the internet. The child victims have subsequently recorded their statements as per procedure and further necessary legal steps have been taken, Pronab Mohanty Director General of Police, Cyber Command, said in a statement.
Based on the statements of the victims, the accused persons, who allegedly assaulted the minors, recorded the acts on mobile phones and uploaded the videos online, were arrested, he said.
Following the probe, sections 65(2) (rape) and 70 (gangrape) of the Bharatiya Nyaya Sanhita, along with relevant sections of the POCSO Act, have been added to the FIR, police said.
Officials collected relevant information and on May 12, arrested the accused persons and seized three mobile phones belonging to them, in which the videos had allegedly been recorded, he said.
The accused were later produced before the court and taken into police custody for further investigation, he added.
According to him, in CSAM cases, police usually apprehend offenders who have downloaded such content or have kept them in their possession after obtaining them from elsewhere, usually the internet.
"The present case is one of the very few instances where content creators and uploaders have been apprehended," Mohanty added.
