Mumbai, Sep 10: The Indian benchmark indices opened higher on Wednesday, on the back of promising developments in the US-India trade discussions along with strong overnight global cues.

US President Donald Trump’s initiative to improve India-US relations and Prime Minister Narendra Modi’s positive response to the same is a positive cue for the Indian market.

The Sensex was up 334 points or 0.41 per cent at 81,435 in the early morning trade, and the Nifty was up 106 points or 0.43 per cent at 24,975.

The broadcap indices made strong gains, as Nifty Midcap 100 inched up by 0.73 per cent, and the Nifty Small cap 100 moved up 0.71 per cent.

In the Nifty pack, Larsen and Toubro, Kotak Mahindra, Dr Reddys Labs and TCS were the major gainers. The major losers were Hero Motocorp, Maruti Suzuki, Tata Steel and Hindalco.

Among sectoral indices, Nifty IT, the top gainer, jumped 1.88 per cent. Nifty PSU bank and Nifty Realty were the other major gainers. Only Nifty Auto (down 0.33 per cent) and Nifty Consumer durables were in the red.

Nifty on Tuesday faced resistance near the 24,900 level for the second consecutive session. The index formed a small green candle with a long lower shadow on the daily chart, reflecting ongoing consolidation and intraday volatility.

“Nifty continued its upward journey yesterday, rising for the fifth consecutive session and closing at a two-week high. By closing above 24791, Nifty managed to reclaim its level above 50 DEMA. The index has now decisively surpassed its 5, 10, 20, and 50-day DMAs, which is a bullish signal on short-term charts,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

According to market analysts, buying interest is visible at lower levels, and the 24,900–25,000 zone continues to act as a stiff hurdle. Immediate support is placed at 24,620, and as long as the index trades below 25,000, some consolidation or mild weakness may persist, they said.

US markets made strong gains overnight as the Dow Jones Industrial Average inched up 0.43 per cent, while the Nasdaq advanced by 0.37 per cent and the S&P 500 gained 0.27 per cent. The rally was driven by expectations for Federal Reserve rate cuts following a sharp downward revision to US job data.

The Asian markets were firmly in green during the morning session. China’s Shanghai index advanced 0.17 per cent, and Shenzhen added 0.24 per cent. Japan’s Nikkei was up 0.6 per cent, while Hong Kong’s Hang Seng Index added 0.98 per cent. South Korea’s Kospi inched up 1.55 per cent.

On Tuesday, foreign Institutional Investors (FIIs) snapped their 11-day selling streak by purchasing equities worth Rs 2,050 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 83 crore.

Mumbai: A Range Rover (MH 02 FJ 7866) struck two WagonR cars on the Western Express Highway in Bandra East on Mon day, injuring one person. The Kherwadi police registered a case against an unidentified individual on the same day.

According to the FIR, Nemchand Yadav, 24, a Jogeshwari West resident, operates a WagonR for passenger transport. On Monday, his car’s belt broke in Mahim. His friend Mantesh Yadav arrived with his WagonR, tied Nemchand’s car with a rope, and began towing it towards Andheri for repairs. At around 2:15pm, before the Vakola bridge, the Range Rover rammed into Nemchand’s WagonR, causing it to collide with Mantesh’s car. Nemchand, seated in his broken-down vehicle, suffered head, hand, and leg injuries and lost consciousness. Mantesh’s friends rushed him to V.N. Desai Hospital in Santacruz East.

Nemchand told FPJ, “I became unconscious after the accident and regained consciousness at around 7.30am the next day. The police were present there. They told me that the Range Rover was also damaged, with losses of around Rs70,000 to Rs80,000, but the driver was unwilling to compensate me. I later learned that the Range Rover driver had come to the police station, and it seemed he might have paid them money.”

The Enforcement Directorate (ED) has come out strongly against criticism of its move to arrest former Vasai-Virar City Municipal Corporation (VVCMC) Commissioner Anil Kumar Khanderao Pawar, insisting the action is not only lawful and legal under the Prevention of Money Laundering Act (PMLA) but also absolutely necessary to ensure the integrity of the probe.

The agency alleged  that Pawar played a central role in a bribery and laundering racket running into hundreds of crores and this is backed by builder testimonies, WhatsApp chats, and cash trail analysis.

 According to ED’s findings, Pawar’s name prominently surfaced during the investigation into 41 illegal buildings constructed over nearly 60 acres of government and private land.Statements from builders allege that senior civic officials, including Pawar, allegedly accepted substantial bribes to “turn a blind eye” to rampant encroachments and unauthorized developments. 

The ED has pointed out that Pawar, during his tenure as head of VVCMC’s demolition department,failed to act against illegal constructions despite multiple complaints and even a civil writ petition (CWP) pending before court. Demolitions of 41 unauthorised buildings were carried out only after the direct intervention of the Bombay High Court. According to the agency, this exposes Pawar’s role in shielding builders in exchange for bribes, and “it is incorrect to suggest that he did not receive money from the proceeds of crime.” 

Further scrutiny of WhatsApp chats and financial records revealed that Pawar allegedly received over Rs 17.75 crore from senior VVCMC officer Y.S. Reddy through cash deliveries routed via angadias. At least Rs 3.37 crore was reportedly handed over at a Dadar office to one of Pawar’s relatives. Linking the payments to the sanctioning of multiple construction projects, the ED has estimated the total bribe amount to run into several crores.

The agency says, was a clear attempt to tamper with evidence.On July 29, 2025, ED officers conducted a search at Pawar’s residence.The ED has accused Anil Pawar of actively obstructing investigators during a search operation at his residence on July 29, 2025. The search team, arriving at 6:15 a.m., repeatedly rang the bell for over two hours, but the door was never opened. Both Pawar and his wife allegedly ignored calls, disconnected lines, and even switched off their phones while the ED was outside.

It was only at 8:35 a.m., with the assistance of local police and a locksmith, that the ED team finally managed to gain entry. By then, investigators found that  Pawar had deleted WhatsApp chats and call logs from his mobile phone while officers were waiting outside. Officials say this proves that Pawar was not only aware of the raid but used the delay to tamper with evidence crucial to the money laundering probe. 

“The deletion of call records and WhatsApp data shows deliberate intent to destroy incriminating material. His custodial arrest became inevitable to prevent further obstruction of justice,” an ED official said.

According to ED sources, Pawar’s arrest was “not just legal but unavoidable.” As VVCMC Commissioner until July this year, he wielded enormous administrative authority, influence, and access to confidential files far beyond public reach. Officials said this power created a “grave and reasonable apprehension” that Pawar could misuse his position to influence or intimidate witnesses, including builders, architects, liaison agents, and VVCMC officials, or tamper with vital evidence. Allowing him to remain outside custody could have derailed the probe, enabling him to shield co-accused and beneficiaries while frustrating efforts to trace the full scale of the corruption network.   

According to ED sources  the scale of corruption, running into hundreds of crores in bribes and with possible chances of cross-border fund flows, demands custodial interrogation. Such proceeds of crime may have cross-border implications, potentially leading to the use of laundered money not only in India but also abroad.

According to ED sources Testimonies from builders, architects, and liaison agents suggest that Pawar allegedly collected commissions ranging from Rs 20–25 per sq. ft. of the built-up area as bribe for every project approval,with rates going up to Rs 50 per sq. ft. depending on project complexity and the builder’s financial muscle.This systematic extortion, corroborated by multiple builders, architects, civic officers and liaison agents, ensured that no residential, commercial or mixed-use project in Vasai-Virar could move forward without Pawar’s cut.

In a statement recorded under Section 50 of the PMLA on August 7, 2025, senior VVCMC officer and accused Y.S. Reddy detailed the bribe distribution system allegedly orchestrated by Pawar. According to him, “Municipal Commissioner Anil Pawar would take Rs 20–25 per sq. ft. The Deputy Director of Town Planning (DDTP) received Rs 10 per sq. ft., while Rs4 per sq. ft. went to the Assistant Director of Town Planning (ADTP) / Town Planner, and Rs1 per sq. ft. to the Junior Engineer. For plots above 2,000 sq. m, the file was handled by the ADTP; proposals below 2,000 sq. m were dealt with by the Town Planner.”

The statement establishes that Pawar was not acting in isolation but ran a well-oiled extortion network inside the civic body, ensuring kickbacks trickled down from commissioner to junior engineers.Sources from ED said that this structured bribe chain, corroborated by builders, architects, and liaison agents, confirms the systematic laundering of “commission money” into proceeds of crime, making custodial interrogation under PMLA unavoidable.