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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Flip-flop on COP: Cong's dig at govt on withdrawing bid to host COP33
New Delhi (PTI): The Congress on Thursday attacked the Centre over India withdrawing its bid to host the COP33 climate summit in 2028, and said it reflects the Modi government's true commitment to the 2015 Paris Agreement both in letter and spirit.
The opposition party said the decision also calls into question the government's true commitment to take on more ambitious carbon mitigation goals in the short and medium term.
Congress general secretary and former environment minister Jairam Ramesh recalled that on December 1, 2023, the prime minister had announced grandly in Dubai that India would be hosting the annual UN Climate Change Conference of Parties (COP) in India in late 2028.
"Clearly the intention was to milk the global gathering for whatever it is worth in the months before the 2029 Lok Sabha elections like Mr. Modi did by having the G20 Summit in New Delhi a few months before the 2024 Lok Sabha polls," Ramesh said on X.
"Unexpectedly last night, it was announced that India will not be hosting the high-profile 2028 Conference. No reasons have been given for this sudden decision. But it does reflect on the Modi Govt's true commitment to the 2015 Paris Agreement both in letter and spirit," the Congress general in-charge communications said.
It also calls into question the Modi government's true commitment to take on more ambitious carbon mitigation goals in the short and medium term, Ramesh said.
By 2028, the seventh assessment report of the IPCC (Intergovernmental Panel on Climate Change) may get published and this could put greater pressure on India as the Chair of the 2028 Conference to forge a new consensus that would undoubtedly involve a scaling up of ambitions not just for a distant future, he said.
"Incidentally, do we recall what the PM had told a group of children some years ago on his view of climate change? He had remarked that 'people have changed, climate has not.' Bizarre!" Ramesh said.
He slammed the government's "flip-flop" on hosting the conference.
Ramesh had on Wednesday night said that he was "surprised" at the development.
"I am very surprised. It was high on the PM's agenda especially since 2029 will be the year of Lok Sabha polls. So atmospherics could have (been) created," he had said.
India has withdrawn its offer to host the United Nations annual climate Conference Of the Parties (COP33) in 2028, according to sources.
During his address at COP28 in Dubai in 2023, Prime Minister Modi had proposed India as the host country for COP33. Usually, the venue for a COP edition is decided two years in advance.
Sources confirmed that the decision was officially communicated to the authorities concerned earlier this week that India is withdrawing its bid to host COP 33. They, however, did not state any specific reason behind the government's decision.
