Connect with us
Saturday,23-October-2021

Business

Nifty, Sensex at record highs: Covid relief measures sustain gains

Published

on

National-Stock-Exchange

 India’s key stock indices rose during per-noon trade session on Friday to reach new intra-day record high levels.

Accordingly, both key indices — S&P BSE Sensex and NSE Nifty50 — made new record highs.

The Sensex crossed the 59,700 mark, while Nifty breached the 17,790 level.

As per market observers, the up moves comes on the back of GST Council’s meet to discuss further Covid relief measures and inclusion of fuel in the indirect tax system.

Initially, both key indices had a gap-up opening.

Even stable global cues supported these gains as Asian markets were largely firm.

Sector-wise, Banks, Auto and Consumer Durables indices were amongst the gainers whereas Power, Metals and Utilities were among the losers.

At 11.30 a.m., S&P BSE Sensex traded at 59,566.80 points, higher by 425.64 points or 0.72 per cent from its previous close.

Similarly, NSE Nifty50 traded higher. It rose to 17,746.95 points, higher by 117.45 points or 0.67 per cent from its previous close.

“The Indian benchmark indices started with a gap up after the positivity in global sentiments. Indian shares scaled record highs today as banking stocks extended gain from the previous session after the country’s Finance Minister laid out details for the establishment of a bad bank,” said Likhita Chepa, Senior Research Analyst, CapitalVia Global Research.

“Traders may get support as the Reserve bank of India said the inflation trajectory is coming down faster than anticipated.”

According to Deepak Jasani, Head of Retail Research, HDFC Securities: “Nifty opened gap up on September 17 and rose making fresh record highs helped by Banking stocks post the bad bank sovereign guarantee announcement on Thursday evening. Volumes are in line with recent average.”

“Advance decline ratio is in the negative suggesting pressure on broader markets. Asian shares were mixed on Friday after a mixed economic data led Wall Street to close mostly lower.”

Business

No increase in fuel prices for 2nd consecutive day on Tuesday

Published

on

By

Petrol

 Petrol and diesel prices remained unchanged for the second consecutive on Tuesday providing relief to consumers who have been facing a regular increase in fuel prices in the past few months taking the retail rates to historic high levels.

With no revision, the price of petrol in Delhi remained Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel rates also remained static at Rs 102.52 a litre; while in Delhi it costs Rs 94.57, the same as on Sunday.

The price pause comes after the rates rose for four straight days when the rates of both petrol and diesel rose by Rs 1.40 paise per litre. There was no change in the rates also on October 12 and 13.

Diesel prices have increased on 19 out of the last 25 days taking up its retail price by Rs 5.95 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week. Petrol prices have also risen on 16 of the previous 21 days taking up the pump price by Rs 4.65 per litre.

Crude prices have been on a surge rising over a three-year high level of over $ 85.7 a barrel now. It has softened a bit, falling below $ 85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to the average prices during August.

Continue Reading

Business

Markets open on a positive note

Published

on

By

Bombay-Stock-Exchange

 The 30-scrip Sensitive Index (Sensex) on Tuesday opened on a positive note during the morning trade.

The Sensex of the BSE opened at 62,156.48 points and touched a high of 62,159.29 points. The Sensex touched a low of 61,964.41 points.

On Monday, the Sensex closed at 61,765.59 points.

The Sensex is trading at 62,061.59 points, up by 296.00 points or 0.48 per cent.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,602.35 points after closing at 18,477.05 points.

The Nifty is trading at 18,549.55 points in the morning.

Continue Reading

Business

Petrol, diesel prices rise again, burn bigger holes in consumers’ pockets

Published

on

By

Petrol

 Petrol and diesel price rose again on Friday taking its retail rates to record high levels across the country affecting consumers this festive season.

Accordingly, in the national capital, petrol and diesel prices increased by 35 paisa per litre to Rs 105.14 per litre and Rs 93.87 per litre, respectively.

In India’s financial capital of Mumbai, petrol became costlier by 34 paisa per litre to Rs 111.09 a litre on Friday, the highest across all the four metro cities. Diesel also costs Rs 101.77 for one litre in Mumbai.

The price hike on Friday is for a second consecutive day after the rates remained static on Tuesday and Wednesday.

Diesel prices now have increased on 17 out of the last 21 days taking up its retail price by Rs 5.25 per litre in Delhi.

With diesel price rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 14 of the previous 17 days taking up its pump price by Rs 3.95 per litre.

OMCs had preferred to maintain their watch prices on global oil situation before making any revision in prices. This is the reason why petrol prices were not revised for last three weeks. But extreme volatility in global oil price movement has now pushed OMCs to effect the increase.

Crude price has been on a surge rising over three year high level of over $84.5 a barrel now. Since September 5 when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

Continue Reading

Trending