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In volatile trade on Tuesday, Sensex closed 288 points, or 0.7%, higher at 39,044.35 while Nifty settled 82 points up at 11,521.80.
BSE MidCap and SmallCap indices outperformed the benchmarks, closing 0.8% and 1.4% higher, respectively.
Nifty Pharma rose the most among sectoral indices, up over 2% followed by Nifty Private Bank, Nifty Financial Services and Nifty IT. Nifty Auto and Nifty FMCG closed in the red.
IndusInd Bank, Cipla, UPL, Axis Bank and Bharti Airtel were the top gainers on the Nifty50 while Titan, Maruti Suzuki, HDFC Life Insurance, Eicher Motors and ITC fell the most.
There was a face-off in Galwan on 15 June in which Indian forces inflicted heavy casualties on Chinese forces, said defence minister Singh, adding that China's violent conduct along LAC is violation of all existing agreements.
Steel Strips Wheels on Tuesday reported a loss of ₹38.1 crore for the June quarter compared with a profit of ₹14.71 crore a year ago. Revenue fell over 74% year-on-year to ₹120.3 crore in the period under review.
European stocks climbed for a third day, supported by improving Chinese economic data and positive results coming from retailers. U.S. equity futures advanced and the euro strengthened. The Stoxx Europe 600 Index rose 0.4%.
The outlook for global oil markets has grown “even more fragile" as a resurgent pandemic derails the recovery in demand, the International Energy Agency said.
The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories -- which rebounded to record levels in July -- won’t subside as sharply as anticipated.
I'm quite optimistic that by first quarter of next year, several of COVID-19 vaccines will have final stage: Bill Gates to PTI.
SAIL on Monday reported a consolidated net loss of ₹1,226.47 crore for the quarter ended June, primarily due to reduced income.
The company had posted ₹102.68 crore net profit in the year-ago quarter.
During the quarter under review, the company's total income declined to ₹9,346.21 crore from ₹14,998.20 crore in the year-ago period.
Prime Minister Narendra Modi on Tuesday inaugurated and laid the foundation stone for seven urban transformation projects - six under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and one under the Namami Gange Mission.
In a departure, the National Highways Authority of India (NHAI) will stay away from setting a reserve price to the newest round of toll-operate-transfer (TOT) auctions for government-owned roads. This move comes after the highest bids received were below the base price in the second and fourth round of auctions and investors are hesitant to commit large amounts of capital for public infrastructure amid covid-related uncertainty.
Leading multiplex chain operator PVR Ltd on Monday reported a consolidated net loss of ₹226 crore for the June quarter as cinemas remained shut amid the covid-19 pandemic.
The company had posted a net profit of ₹17.53 crore in the year-ago period, PVR said in a BSE filing.
Revenue from operations slumped to ₹12.70 crore from ₹880.39 crore in the corresponding quarter of the previous fiscal.
Walmart-owned e-commerce major Flipkart today announced that its Big Billion Days sale will lead to 70,000 direct jobs during the upcoming festival season. "While creating direct job opportunities across Flipkart's supply chain, that include delivery executives, pickers, packers and sorters, there will also be additional indirect jobs created at Flipkart's seller partner locations and kiranas," Flipkart said in a release.
"Yesterday (Monday) USD-INR appreciated by 0.09% and closed at 73.47 levels...As of today, we are expecting more appreciation may be seen in Indian rupee.Traders can sell USDINR at 73.40 levels with the stoploss of 73.80 and for the target of 72.80 levels. Rupee may test 72.00 soon."
Asia’s coronavirus-battered economy will shrink for the first time since the early 1960s, with the level of output next year seen below pre-pandemic projections even as growth recovers, Bloomberg reported citing Asian Development Bank.
The region’s gross domestic product will decline by 0.7% in 2020, down from June’s projection of an increase of 0.1%, the Manila-based bank said in a report Tuesday. A contraction this year would be the first since 1962, Yasuyuki Sawada, the ADB’s chief economist, said in a live-streamed briefing.
Minda Industries on Tuesday said it has raised over ₹242 crore via a rights issue to existing investors. In June, the board of Minda Industries had approved issuance of equity shares by way of a rights issue to eligible equity shareholders of the company for an aggregate amount not exceeding ₹250 crore.
Over the past six months, technology investor SoftBank Group Corp. has signed more than $90 billion in deals to sell some of its most valuable holdings—most recently, U.K. chip designer Arm Holdings.
Now the big question is: What will the Japanese conglomerate do with all that money?
SoftBank has committed to spend about half the sum to buy back its own shares and pay down debt, and it has said it needs lots of extra cash to bolster its balance sheet in uncertain times.
Pfizer Inc and BioNTech SE have proposed expanding their phase 3 pivotal covid-19 vaccine trial to about 44,000 participants, while increasing the diversity of the trial population.
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