Sensex climbs 190 points in early trade; Nifty up 55 points
The Hindu
Equity benchmark indices climbed in early trade on June 19, extending their previous day’s rally, amid fresh foreign fund inflows. The 30-share BSE Sensex climbed 190.11 points to 63,574.69 in early trade. The NSE Nifty advanced 55.45 points to 18,881.45.
Equity benchmark indices climbed in early trade on June 19, extending their previous day's rally, amid fresh foreign fund inflows.
The 30-share BSE Sensex climbed 190.11 points to 63,574.69 in early trade. The NSE Nifty advanced 55.45 points to 18,881.45.
From the Sensex pack, Bajaj Finserv, Titan, Bajaj Finance, Larsen & Toubro, Nestle, Power Grid, Tata Consultancy Services, Axis Bank and HDFC were the major gainers.
Hindustan Unilever, State Bank of India, NTPC and ICICI Bank were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong traded lower.
The U.S. markets ended lower on Friday.
Global oil benchmark Brent crude declined 1.48% to $75.48 a barrel.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
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