Sensex jumps 154 points in early trade

The 30-scrip Sensitive Index (Sensex) of the BSE, closed at 31,770.89 points - up 321.86 points, or 1.02 per cent, from its previous close at 31,449.03 points.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declining. This movement led to erasing nearly all of its gains by the indices, which were trading with gains of over 100 points on the Sensex, and the Nifty placed comfortably above 9900-mark.

Sentiment was also upbeat across global markets with Asian shares advancing as tensions between the US and North Korea came off the boil, although the Federal Reserve's concerns about weak USA inflation weighed on the dollar.

The Nifty PSU Bank index, which has lost almost 9 per cent since India's central bank announced its decision to cut repo rate, gained as much as 1.08 per cent.

Australia's benchmark S&P/ASX 200 index slid 0.10 percent, or 5.902 points, to close at 5,779.200, as gains in the materials and health care sub-indexes were balanced by losses in the telecommunication services sub-index.

More news: 19 human cases of West Nile Virus so far in 2017

Desai pointed out that consumer stocks gained as the Nifty FMCG index rose almost 2 per cent in its biggest intra-day percentage gain in over a month, recovering from recent losses sparked by worries about the impact from India's new goods and services tax. Infosys drove gains in the Nifty IT index, which climbed as much as 1.4 percent in its biggest intraday percentage gain in almost a month.

Other gainers on BSE Sensex includes Reliance Industries (up 1.5%), Bharti Airtel (up 1.49%), Dr Reddy's Laboratories (up 1.04%), Tata Steel (up 0.71%) and ICICI Bank (up 0.48%).

Infosys' buyback decision has come in the back of massive investors' pressure who wanted the company to utilise its cash reserves of $6 billion either through share buyback or generous dividend.

Traders said volatility crept in due to emergence of sudden selling in the last half an hour of the session, which took away much of the day's gains. It had breached the historic 10,000-mark for the first time in intra-day trade yesterday. Tech Mahindra gained 1.06 per cent while HCL Tech rose 0.79 per cent. The company said it will consider the share buyback at a board meeting on August 19.

Indonesia markets were closed for a public holiday.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Oil output at biggest Libya field said to plummet
Also, a surprising increase in the U.S. oil rig count dented hopes for an end to the global supply glut. Traders await the latest USA oil inventories data for clues about domestic production and consumption.

HBO Hackers demand $7 million for not leaking GOT Episodes
They have demanded a ransom running into millions of dollars to prevent any further leaks from the 1.5TB of data that was stolen last week .

2nd man arrested in officer's shooting death
Michael, 37, was shot to death late Sunday night after stopping a motorist for driving without headlights. Investigators have said it's possible that other people helped McCarthy by giving him a ride or clothes.

Donald Trump visited the golf course for the 53rd time as President
Trump spent almost his entire transition period in Trump Tower after winning the election, leaving only on rare occasions. Lee, like many who protested outside of Trump Tower on Monday, said he does not think Trump is fit to be president.

Russian Federation says USA sanctions are a blow to 'bilateral cooperation'
Trump and Tillerson opposed the legislation, but facing a likely veto override, Trump begrudgingly signed the bill. Even so, Trump's administration has argued there's good reason for the USA to seek a more productive relationship.

Amid renewed North Korea tensions, China appoints new special envoy
The softened language in Monday's order is the second time in as many weeks that Trump has agreed to changes to ease the potential backlash from China.

US Security Leaders Say North Korea War Not Imminent, But Danger Looms
Lee Sun-jin. "The message today was the ironclad commitment to the alliance", Dunford said at the press conference. But he says "effective military-to-military" ties with China also are important.

Canadian Army Sets Up Camp for Irregular Migrants
Canadian officials told the AP they estimated 400 illegals crossed the border at the Saint-Bernard-de-Lacolle this Sunday alone. More than 3300 people crossed into Quebec between 1 January and 30 June. "They are hearing that Canada doesn't deport people".

Investors seek safety as N. Korea tension escalates; stocks off, gold up
The Korea Composite Stock Price Index (Kospi) closed down 1.1 per cent at 2,368.39 points, lowest closing level since June 21. United States crude rose 0.69 per cent to US$49.51 per barrel and Brent was last at US$52.66, up 1 per cent on the day.

Friday's Mega Millions jackpot is now $393
Since June 10, six Powerball tickets have won $2 million each, including a ticket sold in Paola for the drawing last Saturday. Earlier this week, the Mega Millions jackpot hit an estimated $382 million after no tickets matched all six numbers drawn.

GoDaddy bans Neo-Nazi site for derogatory article on Charlottesville victim
Since the announcement, a blog post has appeared on the Daily Stormer , claiming the site has been hacked by Anonymous . The post was titled " Heather Heyer: Woman Killed in Road Rage Incident was a Fat, Childless 32-Year-Old Slut".

Google VP denounces employee memo's views on female workers
When addressing the gap in representation in the population, we need to look at population level differences in distributions. Like a Google employee, who has created quite a controversy after arguing that women are just unsuitable for tech jobs.

Sports Chelsea Makes £25m Bid for Chamberlain
Chelsea have tabled a bid worth £25million for Arsenal attacker Alex Oxlade-Chamberlain, according to a report . He's today very conscious of his qualities as well, something he was not always.

Notre Dame, Wisconsin finalized deal to play at Soldier Field, Lambeau Field
It was just the second college football game ever played at Lambeau and the first matching Division I teams. Notre Dame football will play a pair of marquee games on two major stages in the coming years.

Rooney gets Everton off to winning start
You know in the Premier League that if you think you have an easy start then they will make you pay. Stephen Ireland (leg) and Ibrahim Afellay (knee), are definitely out of Saturday's game.


More News

News
More News