Beijing, April 22:Prime Minister Narendra Modi and Chinese President Xi Jinping will hold a summit meeting in Wuhan city in China from April 27 to 28 to improve bilateral relations, China’s Foreign Minister Wang Yi announced in Beijing on Sunday.
Modi will be visiting the central Chinese city at the invitation of Mr. Xi, Mr. Wang said at a joint media event with visiting External Affairs Minister Sushma Swaraj after their talks.
Ms. Swaraj is in China for talks with Mr. Wang and to take part in the two-day meeting of Foreign Ministers of the eight-nation Shanghai Cooperation Organisation (SCO) from April 23.
Sources said that it will be an informal summit meeting between Mr. Xi and Mr. Modi during which both leaders will try to work out a new paradigm for the bilateral ties bogged down with a host of disputes and differences.
This will be fourth visit of Mr. Modi to China after he came to power in 2014. He is again due to visit China to take part in the SCO summit to be held at Qingdao city on June 9-10.
The Modi-Xi summit meeting is taking place in the backdrop of series of high level interactions between the two countries, starting with Chinese Foreign Minister Wang’s visit to India in December, the first after Doklam standoff.
It was followed by two meetings between National Security Adviser Ajit Doval and his Chinese counterpart Yang Jiechi and the visit early this year by Foreign Secretary Vijay Gokhale to Beijing.
The two countries also held 11th Joint Economic Group meeting and the fifth Strategic Economic Dialogue (SED) in Beijing recently.
Besides meetings between officials from the two Foreign Ministries, both sides held working mechanism meeting on border affairs and cross border rivers as well disarmament and non-proliferation dialogue in which India’s entry into the Nuclear Suppliers Group (NSG) was discussed and culminated in Sunday's talks between Ms. Swaraj and Mr. Wang.
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Mumbai, May 5 (PTI): Benchmark BSE Sensex climbed nearly 295 points to close at an over four-month high on Monday following sustained foreign fund inflows and a sharp correction in global crude oil prices.
Rising for the second in a row, the 30-share BSE barometer gained 294.85 points or 0.37 per cent to settle at 80,796.84, marking its highest close in 2025 so far. During the day, it jumped 547.04 points or 0.67 per cent to 81,049.03.
The NSE Nifty rose 114.45 points or 0.47 per cent to 24,461.15, its highest closing level in 2025.
Among Sensex firms, Adani Ports jumped 6.29 per cent amid reports that Gautam Adani's representatives met with US administration officials to seek the dismissal of criminal charges in a bribery probe. All other listed Adani group stocks, including Adani Enterprises, Adani Ports, Adani Power and Adani Green Energy, ended with sharp gains.
Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints and Hindustan Unilever were also among Sensex gainers.
Among the laggards, Kotak Mahindra Bank tanked 4.57 per cent after the firm reported a 7.57 per cent decline in consolidated net profit to Rs 4,933 crore for the March quarter of FY25, primarily due to elevated stress in the microlending book.
State Bank of India, Axis Bank, Titan and IndusInd Bank were among the other losers.
State Bank of India dipped over 1 per cent after it reported an 8.34 per cent decline in consolidated net profit to Rs 19,600 crore for the January-March quarter compared to Rs 21,384 crore a year ago, impacted by a decline in net interest margins.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,769.81 crore on Friday, according to exchange data.
Foreign investors injected Rs 4,223 crore into the country's equity market in April, as they turned net buyers for the first time in three months amid a blend of favourable global cues and robust domestic fundamentals.
The inflow of foreign capital came last month following a back-to-back net outflow of Rs 3,973 crore in March, Rs 34,574 crore in February, and Rs 78,027 crore in January.
"The market has sustained its positive momentum, though the level of optimism has decreased. Continued foreign inflows and record GST collections in April indicate resilience in economic activity, fostering mild hopefulness. A weak dollar and a decline in oil prices have further bolstered FII sentiment.
"However, the market's momentum is moderating, with action shifting from broad-based movements to stock and sector-specific trends based on results," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE midcap gauge jumped 1.45 per cent and smallcap index climbed 1.23 per cent.
Among sectoral indices, services jumped the most 2.99 per cent, followed by oil & gas (1.95 per cent), auto (1.88 per cent), consumer discretionary (1.58 per cent), utilities (1.50 per cent) and energy (1.49 per cent).
Bankex emerged as the only loser.
As many as 2,563 stocks advanced while 1,459 declined and 180 remained unchanged on the BSE.
Markets in South Korea, Japan, China and Hong Kong were closed due to holidays.
European markets were trading on a mixed note.
US markets ended significantly higher on Friday.
Global oil benchmark Brent crude dropped 1.45 per cent to USD 60.40 a barrel.
The 30-share BSE benchmark gauge settled 259.75 points, or 0.32 per cent, higher at 80,501.99 on Friday. The Nifty eked out a marginal gain of 12.50 points, or 0.05 per cent, to settle at 24,346.70.