Connect with us
Friday,30-July-2021

Business

Record run continues, Sensex crosses 53,000 mark

Published

on

Stock-Market

Bull run continued on the Indian equity market on Tuesday with the BSE Sensex crossing the 53,000-mark for the first time.

Oil and gas stocks led the rise in the market.

Sensex has touched an all-time high of 53,018.71 points.

Around 9.55 a.m., Sensex was at 52,976.76, higher by 402.3 points or 0.77 per cent from its previous close of 52,574.46.

It opened at 52,885.04 and has so far touched an intra-day low of 52,800.82 points.

The top gainers on the Sensex were Maruti Suzuki India, ONGC and ICICI Bank, while the major losers were Nestle India, Bajaj Finance and Dr Reddy’s Laboratories.

The Nifty50 on the National Stock Exchange was trading at 15,870.75, higher by 124.25 points or 0.79 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments: “We have resumed the uptrend and can target 16,000-16,100 as the next level for the index. Keeping 15,400 as a support for the market, a buy on dips approach will be appropriate to adopt in this market.”

Business

To clear debts, Axis Bank manager loots ICICI branch, kills officer

Published

on

ICICI-Bank

In a shocking incident, an Axis Bank Branch Manager allegedly committed an unsuccessful heist on the ICICI Bank and stabbed a deputy branch head there to death, police said here on Friday.

The incident happened late on Thursday around 8.00 p.m., after the close of banking hours at the ICICI Bank’s Virar East Branch.

According to Virar Police Station Senior Police Inspector Suresh Warade, the accused Anil Dubey — the Naigaon Axis Bank Branch Manager, who was a former longtime employee of ICICI Bank, has been arrested.

In the scuffle that ensued between Dubey and the ICICI Bank Deputy Manager Yogita Nishant Choudhary, and her cashier colleague Shraddha Devrukhkar, he allegedly stabbed them both before attempting to flee with the bag full of the looted booty, but was caught outside by the locals.

While Vartak, 36, succumbed to her injuries later, Devrukhkar, 32, is undergoing treatment at a local hospital and further probe is on in the sensational case, said Warade.

Continue Reading

Business

Toyota to raise price of Innova Crysta

Published

on

By

Innova-Crysta

Automobile major Toyota Kirloskar Motor will raise the price of its flagship model, Innova Crysta.

Accordingly, the price will be raised by up to 2 per cent, effective August 1, 2021. The company cited rising input costs as the key factor behind the price hike.

“This increase is necessitated to partially offset the substantial increase in input costs,” the company said in a statement.

“The price increase has been tapered down considering the impact on our valued customers,” it added.

Continue Reading

Business

US economy grows at annualized 6.5% in Q2

Published

on

By

us-flag

The US economy grew at a lower-than-anticipated annual rate of 6.5 per cent in the second quarter, marking the return to an above pre-pandemic level of overall economic activity, the Commerce Department reported.

However, the 6.5 per cent gain was considerably less than the 8.4 per cent Dow Jones estimate, Xinhua news agency reported.

In the first quarter, real GDP increased by 6.3 per cent, 0.1 percentage point less than previously reported, according to the latest data issued by the Department on Thursday.

The increase in real GDP in the second quarter reflected increases in personal consumption expenditures (PCE), non-residential fixed investment, exports, and state and local government spending that were partly offset by decreases in private inventory investment, residential fixed investment, and federal government spending, the Commerce Department report showed.

Imports, which are a subtraction in the calculation of GDP, increased.

The GDP data was released a day after the Federal Reserve signaled that it was inching closer to tapering its asset purchases amid concerns over surging inflation and the rapid spread of the Covid-19 Delta variant.

In the latest update to its World Economic Outlook, the International Monetary Fund (IMF) on Tuesday projected the US economy would grow by 7.0 per cent this year, up 0.6 percentage point from its April projection.

The upward revision reflects the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics.

In 2022, the US economy is expected to grow by 4.9 per cent, according to the IMF.

Continue Reading
Advertisement
Advertisement

Trending