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Stock Market Live: Sensex hits 52,000-mark for the first time ever, Nifty at record highs; banks, financials lead
Fuel prices at record high; petrol & diesel prices hiked by 25-30 paise: LPG Price up by Rs 50: Markets are on Bull-run..Bears to exercise caution:
Stock Market Live: Indian indices started the week at record highs following a rally in Asian peers as successful corona virus vaccine rollouts globally raise hopes of a rapid economic recovery. Back home, all sectors witnessed massive buying led by banks and financials in opening lifting the benchmarks to their all-time high mark.
Opening Bell: Sensex, Nifty open at record highs tracking rally in Asian peers; banks, financials lead
Indian indices started the week at record highs following a rally in Asian peers as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery. Back home, all sectors witnessed massive buying led by banks and financials in opening lifting the benchmarks to their all-time high mark. The Sensex rose as much as 427 points to its new high of 51,971 while the Nifty jumped 129 points to its fresh high of 15,292.
The Nifty Bank and Nifty Fin Servcies indices rose 1.3 percent each in morning deals while Nifty Auto added 0.7 percent. Meanwhile, the FMCG and metal sectors were up 0.5 percent each. On the Nifty50 index, IndusInd Bank, HDFC Bank, Bharti Airtel, HDFC and Shree cement were the top gainers hwile ONGC, Adani Ports, Tech Mahindra, Coal India and BPCL led the losses.
Bharti Airtel board meet on Wednesday; strategic plans, shareholding in subsidiary cos on agenda
Bharti Airtel will hold a board meeting on Wednesday, February 17, 2021, to mull strategic plans and a possible reorganisation of shareholding in subsidiary companies. This may involve acquiring or increasing their stake in subsidiary companies which could involve a payment which could be done on a preferential basis, preferential equity, or cash.
Asian shares hit all-time highs, oil rises on Middle East tensions
Asian shares advanced to record highs on Monday as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington, while oil prices rose on heightened tensions in the Middle East. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4 percent to 736.4. Japan’s Nikkei climbed 1.1 percent, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter. Australia’s benchmark index added 0.9 percent while E-mini futures for the S&P 500 were up 0.3 percent in early Asian trading. China and Hong Kong markets are shut for the Lunar New Year holiday. US stock markets will be closed on Monday for the Presidents Day holiday. The highlight of the week will probably be minutes of the US Federal Reserve’s January meeting, where policymakers decided to leave rates unchanged. More here
LPG price hiked by Rs 50 per cylinder
The price of Liquefied Petroleum Gas (LPG) domestic cylinder (14.2 kg) has been increased by Rs 50 per cylinder on Sunday, reported news agency ANI. According to reports, the 14.2 kg gas cylinder will now be available in Delhi at Rs 769. This is the second price hike in the month of February, as per ANI. The oil marketing companies had increased the price of non-subsidized LPG cylinders by Rs 25 in metro cities on February 4. The price of LPG gas cylinders is determined by state-run oil companies and is revised on a monthly basis. Depending on international fuel rates and US dollar-rupee exchange rates, the prices can go up or down.
Vodafone Idea narrows loss to Rs 4,532 crore in Q3
Debt-ridden Vodafone Idea on Saturday reported narrowing of its consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020. The company had posted a loss of Rs 6,438.8 crore in the same quarter a year ago. “In the third quarter of financial year 2021, we improved subscriber retention and operating performance, supported by Vi GIGAnet. We remain focused on executing our strategy, and our cost optimization plan remains on track to deliver the targeted savings,” Vodafone Idea MD and CEO Ravinder Takkar said in a statement.
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