Asian cues push equity indices higher; Sensex gains over 200 points
Mumbai, July 9 : Firm Asian cues lifted the key Indian equity indices on Monday, with the BSE Sensex rising over 200 points.
according to market analysts, investor sentiments in the Asian markets were supported by a healthy US jobs data released on Friday.
In the domestic indices, they said, healthy buying was witnessed in the banking, auto and metal stocks.
At 12.17 p.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,838.40 points -- higher by 65.75 points or 0.61 per cent -- from its previous close of 10,772.65 points.
The barometer 30-scrip Sensex on the BSE, which had opened at 35,835.10 points, traded at 35,884.18 points (12.20 p.m.) -- up by 226.32 points or 0.63 per cent -- from its previous session's close of 35,657.86 points.
Sensex has so far touched a high of 35,931.09 points and a low of 35,779.72 points during the intra-day trade. The BSE market breadth was bullish with 1,574 advances against 770 declines.
The top gainers on the Sensex were Vedanta, Axis Bank, Yes Bank, Sun Pharma and Tata Motors whereas Tata Consultancy Services (TCS), Coal India and HDFC were the losers.
On the NSE, Vedanta, Dr Reddy's Lab and Axis Bank were the highest gainers while TCS Ultratech Cement and HDFC lost the most.
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I'm not anti-business, I'm anti-monopoly: Rahul Gandhi
New Delhi (PTI): Leader of Opposition in the Lok Sabha Rahul Gandhi on Thursday asserted that he was not "anti-business" as being projected by the BJP but was "anti-monopoly" and "anti-creating oligopolies".
His remarks came a day after he penned an opinion piece in The Indian Express in which he said the original East India Company wound up over 150 years ago but the raw fear it then generated is back with a new breed of monopolists having taken its place.
Gandhi, however, had asserted that a "new deal for progressive Indian business is an idea whose time has come".
In a video posted on X on Thursday, Gandhi said, "I want to make something absolutely clear, I have been projected by my opponents in the BJP to be anti-business. I am not anti-business in the least, I am anti-monopoly, I am anti-creating oligopolies, I am anti-domination of business by one or 2 or 5 people."
"I started my career as a management consultant and I understand the type of things that are required for a business to succeed. So I just want to repeat, I am not anti-business, I am anti-monopoly," the former Congress chief said.
In his post accompanying the video, Gandhi said, "I am pro-Jobs, pro-Business, pro-Innovation, pro-Competition. I am anti-Monopoly."
"Our economy will thrive when there is free and fair space for all businesses," Gandhi asserted.
In his article, Gandhi had said India was silenced by the East India Company and it was silenced not by its business prowess, but by its chokehold.
The Company choked India by partnering with, bribing, and threatening more pliant maharajas and nawabs, he pointed out.
"It controlled our banking, bureaucratic, and information networks. We didn't lose our freedom to another nation; we lost it to a monopolistic corporation that ran a coercive apparatus," he said.
The original East India Company wound up over 150 years ago, but the raw fear it then generated is back, he claimed.
A new breed of monopolists has taken its place, amassing colossal wealth, even as India has become far more unequal and unfair for everybody else, Gandhi had said.
The BJP had slammed Gandhi for making "baseless accusations" against Prime Minister Narendra Modi and asked him to examine facts before jumping to conclusions.
Hitting back at the Leader of Opposition in the Lok Sabha, the BJP wrote on X: "Another baseless accusation against the Modi government through the so-called 'match-fixing monopoly groups versus fair-play businesses' is simply misleading."
"Dear Baalak Buddhi, do not jump to conclusions without examining facts," the saffron party said in a veiled reference to Gandhi.
