Sensex, Nifty rise on downward trend in Covid cases
India Today
The blue-chip NSE Nifty 50 index rose 0.18% to 15,611.30 by 9:15 am, while the benchmark S&P BSE Sensex climbed 0.19% to 52,026.39. Both the indexes closed 1% higher on Monday, building upon gains posted last week.
Indian shares extended gains on Tuesday, as investors took hope from a downward trend in daily COVID-19 cases while taking cues from a global rally in equities. The blue-chip NSE Nifty 50 index rose 0.18% to 15,611.30 by 9:15 am, while the benchmark S&P BSE Sensex climbed 0.19% to 52,026.39. Both the indexes closed 1% higher on Monday, building upon gains posted last week. "The ongoing bull run in the market has taken even the incorrigible optimists by surprise," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
A look at Sensex stocks shows that IT names such as HCLTech, Tech Mahindra, and TCS were trading in the green, even as heavyweights across banking, auto, metal and consumption sectors saw sharp declines.
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.
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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.