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New Delhi: As expected Indian indices opened in green today with Sensex rising over 450 points and Nifty crossing 18.1K. Even as UltraTechCement, NTPC, Tata Steel dragged the indices down, the combined efforts of HUL, Sun Pharma, Tata Motors, SBI and IT stocks gathered steam.
On Monday, at close, BSE Sensex was trading 319.90 points up at 60,941.67 and NSE Nifty was trading 90.90 points up at 18,118.55.
“Markets maintained the upward momentum through the trading session on positive cues from Asian and European indices. IT stocks emerged as the star performers after getting hammered in recent sessions on worries global IT spending may moderate this year due to likely slowdown in key economies. If the optimism continues, we may see some pre-budget rally in the truncated week. On the technical front, despite the strong momentum it as failed to clear 18180/61200 resistance mark. Currently, the index is trading above 20 day SMA and also holding higher bottom formation on intraday charts which is largely positive. For the traders now, 18000/60500 would be the trend decider level above which, the index could move up to 18200-18250/61200-61500. On the flip side, below 18000/60500 selling pressure is likely to increase. Below the same, the index could slip till 17950-17900/60200-60000,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
New Delhi: The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities.
Chandigarh: The 30th Indo-Israel Centre of Excellence was inaugurated in Haryana which coincided beautifully with the fact that Israel and India are nearing the completion of 30 years of full diplomatic relations.
New Delhi: The government is likely to review the exemption-less new tax regime as only less than half a million taxpayers have opted for the same since its rollout, Economic Times reported quoting two people familiar with the matter.
New Delhi: Bharat Petroleum Corporation plans to shut its 156,000 barrels-per-day (bpd) Bina refinery in central India for about a month in June for maintenance. The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance, the sources said: Reuters report quoting sources.
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