Sensex, Nifty post best day in 2 weeks as ICICI Bank, Reliance climb
India Today
After three straight weeks of losses, the NSE Nifty 50 index ended 1% higher at 14,485 on Monday, while the benchmark S&P BSE Sensex closed up 1.06% at 48,386.51. The indexes have shed around 6% and 8%, respectively, from February peaks.
Indian shares posted their sharpest daily rise in nearly two weeks on Monday, spurred by gains in ICICI Bank Ltd following strong quarterly results, even as more regions in the country went into lockdown to curb a surge in coronavirus cases. After three straight weeks of losses, the NSE Nifty 50 index ended 1% higher at 14,485 on Monday, while the benchmark S&P BSE Sensex closed up 1.06% at 48,386.51. The indexes have shed around 6% and 8%, respectively, from February peaks. The southern Indian state of Karnataka, home to tech hub Bengaluru, will impose a lockdown for two weeks starting Tuesday evening, the state's chief minister said, as total COVID-19 cases in India surged by 352,991 over the last 24 hours.
As of 10:26 am on MCX, gold futures were trading at Rs 1,37,307, down Rs 7,185 or 4.97%. Silver futures were at Rs 2,13,600, down Rs 13,172 or 5.81%.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
As the war enters its fourth week, airlines are struggling to cope with a sharp rise in jet fuel prices, which have surged significantly in a short span of time. The impact is already visible for passengers, with ticket prices expected to rise in the coming months as airlines try to protect already thin profit margins.
The world is already feeling the heat as the West Asia conflict enters its fourth week, pushing global crude oil prices higher. In this article, we speak to experts to understand whether this shock could tip the world toward a recession.
The additional allocation will be subject to commercial establishments registering with oil companies and applying for a piped natural gas connection, according to a letter written by the oil secretary to states.
Civil Aviation Minister Ram Mohan Naidu said that the impact of the ongoing Iran war on the aviation sector is likely to be visible from April 1, when the Air Turbine Fuel (ATF) prices will be revised.
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The former RBI Govenor said a 15–20% global energy disruption would require sharp demand cuts, pushing oil to $150–$200 per barrel, risking severe economic stress if the conflict continues another month.
Venkataraman joined Flipkart in 2015 and has been part of the company's leadership team through a period of growth and restructuring. During his tenure, he helped strengthen the company's financial operations.
The gold rate today is around Rs 1.5 lakh per 10 grams for 24-carat gold, while 22-carat gold is near Rs 1.4 lakh, with prices edging higher after recent losses. Silver is also seeing a slight uptick after a volatile phase.