Sensex Surges Over 800 Points After Government Takes Steps To Spur Growth: 10 Things To Know
- At 2:31 pm, the Sensex traded 2.17 per cent or 795.31 points higher at 37,496.47 and the NSE Nifty 50 index was up 2.10 per cent or 227.90 points at 11,057.25.
- "Government announcements are in the right direction and from here on the Sensex and Nifty are likely to rise further," AK Prabhakar, head of research at IDBI Capital, told NDTV. "I think the Sensex and Nifty will touch record highs by December-end," he added.
- All but one of the sectoral gauges compiled by the National Stock Exchange were trading higher, led by a 3.3 per cent gain in the Nifty PSU Bank index.
- Shares in state-run banks surged after the government on Friday announced that it will release Rs 70,000 crore of recapitalisation funds upfront for PSU lenders, which was earlier to be provided to them during the course of the year. Central Bank of India, Indian Bank, Allahabad Bank and Jammu & Kashmir Bank were among the top percentage gainers in the PSU banking space, up between 5 per cent and 9.5 per cent.
- The Nifty Financial Services, Nifty Private Bank, Nifty Media and Nifty Realty sector gauges also rose between 2.9 per cent and 3.4 per cent.
- On the other hand, the Nifty Metal index was the top percentage loser, down 1.6 per cent, as the US-China trade war escalated. Last Friday, US President Donald Trump additional duty on some $550-billion of targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of American goods.
- Mid- and small-cap shares were also witnessing buying interest, with the Nifty Midcap 100 index rising 1.4 per cent and the Nifty Smallcap 100 Index climbing 2 per cent.
- Yes Bank was top gainer in the Nifty 50 basket of shares. The stock rose 5.8 per cent to Rs 62.70. Yes Indiabulls Housing Finance, Adani Ports, HDFC, HDFC Bank, Bajaj Finance, Larsen & Toubro, UltraTech Cement, and ICICI Bank were also among prominent gainers, up 3.3-6 per cent each.
- On the flipside, JSW Steel, Tata Steel, Vedanta, Hero MotoCorp, Hindalco, Sun Pharma and Coal India were among the losers.
- Overall market breadth was extremely positive as 1,258 shares were advancing while nearly 500 shares were advancing on the NSE.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
