Mumbai: State-run banks advanced with the public sector banking index rising 3.52 per cent.
The domestic stock market indices closed Monday’s session on a strong note. The S&P BSE Sensex rallied 157.55 points, or 0.42 per cent, to close at 37,494.40. That marked a fifth consecutive record closing high for the 30-scrip BSE benchmark index.
The NSE’s Nifty50 index surged 34.40 points or 0.31 per cent and settled at 11,319.55. Stock markets ended in green today led by strong gains in heavyweights Reliance Industries Ltd and ICICI Bank Ltd, while investor focus turned to Reserve Bank of India (RBI) policy meeting later this week. ICICI Bank closed 4.88 per cent higher and contributed to over a fifth of the NSE index’s gains.
Major gainers in the Sensex pack were Bharti Airtel, ICICI Bank, SBI, Axis Bank, Mahindra & Mahindra and Vedanta (rising between 2.25 per cent to 5.64 per cent), rising between 2.27 per cent to 4.71 per cent. Top laggards on the BSE index were Kotak Bank, HDFC, Adani Ports, Larsen & Tourbo, HDFC Bank and Infosys, ending with losses between 0.51 per cent and 1.65 per cent.
Bharti Airtel, ICICI Bank, SBI, Axis Bank and Ultracemco (rising between 2.80 per cent to 5.68 per cent) led the pack of Nifty gainers, while main losers on the index were Infosys, HCL Tech, Hindalco, HDFC Bank, HDFC and Bajaj Finance, ending with losses between 1.46 per cent and 1.70 per cent.
Reliance Industries ended 1.96 per cent higher. Axis Bank closed 2.85 per cent higher ahead of June-quarter results later in the day while Bharti Airtel rose 5.68 per cent.
“Markets settled at positive note today driven by gains led by corporate focused banks. Post markets on Friday, Bank of Baroda reported better than expected results and ICICI Bank results also indicated gradual improvement”, said Viral Berawala, CIO, Essel Mutual Fund.
State-run banks advanced on Monday with the public sector banking index rising 3.52 per cent after last week’s 10.4 per cent gain. State Bank of India closed at 3.4 per cent on NSE index and settled at 3.74 per cent on BSE index after the lender raised interest rates on retail domestic term deposits.
According to Tushar Goyal, business development, and communication, Meri Punji IMF, “PSU banks were going down earlier because of NPA provision. The extreme bad results are now over and results are getting better. Also, RBI has increased the repo rate in their last meeting and expected to do the same in meeting on August 1, which will raise their earnings on loans given to users. This will result in better earning for PSU banks and in turn. The same is reflected by gain in their shares.”
Bank of Baroda Ltd surged 9.1 per cent to a 17-week top after it reported a two-fold jump in first-quarter profit on Friday. HDFC Bank was the top loser on the NSE index with a drop of 1.70 per cent ahead of results.
The central bank is due to release the outcome of its third bi-monthly monetary policy meeting for 2018-19 on Wednesday.
Air India to start new domestic and international flights from next month
New Delhi: Air India on Wednesday announced that various new flights would begin from next month on domestic as well as international routes in order to meet heavy demand of seats during the summer vacation.
The national carrier said it will offer additional 3,500 seats per week on Mumbai-Dubai-Mumbai route from June 1.
Moreover, it will offer additional 3,500 seats per week on Delhi-Dubai-Delhi route too from June 2 by operating two new flights using its B787 Dreamliner aircraft.
“The airline will offer one way Economy class promotional fare of Rs 7777 (all inclusive) from both Delhi and Mumbai to Dubai for sale and travel up to July 31, 2019,” Air India said in a statement.
On its domestic front, Air India said it will introduce new flights on Bhopal-Pune-Bhopal route and Varanasi-Chennai-Varanasi route from June 5.
“The number of flights on Delhi-Bhopal-Delhi will be increased from present 14 flights per week to 20 flights per week by introducing third frequency to the historical city of Tals,” the statement added.
The national carrier would be increasing its flights on Delhi-Raipur-Delhi route from existing seven flights per week to 14 flights per week.
According to Air India, the number of flights per week would be increased on routes such as Delhi-Bengaluru-Delhi, Delhi-Amritsar-Delhi, Chennai-Ahmedabad-Chennai and Chennai-Kolkata-Chennai.
The flights per week would also be increased on Delhi-Vadodara-Delhi route and Mumbai-Vizag-Mumbai route, the statement added.
Sensex gains 140 pts ahead of election outcome
Mumbai: The benchmark BSE Sensex jumped 140 points Wednesday, driven by gains in banking and auto stocks ahead of the general election results.
After swinging over 300 points during the day, the 30-share index ended 140.41 points, or 0.36 per cent, higher at 39,110.21. The gauge hit an intra-day high of 39,249.08 and a low of 38,903.87.
In similar movement, the broader NSE Nifty rose 28.80 points, or 0.25 per cent, to 11,737.90.
IndusInd Bank was the biggest gainer in the Sensex pack, rallying 4.84 per cent, followed by Sun Pharma, Bajaj Auto, Bharti Airtel, Coal India, Tata Motors, SBI, ICICI Bank, Hero MotoCorp, ONGC, HDFC, Vedanta, L&T, Kotak Bank, Maruti and Axis Bank, ending up to 2.92 per cent higher.
On the other hand, Yes Bank, ITC, PowerGrid, TCS and HUL ended in the red, slipping up to 2.34 per cent.
According to experts, investor sentiment turned positive this week after most exit polls forecast a win for the Narendra Modi-led NDA. The results of the seven-phased polls will come out Thursday.
Unabated foreign fund inflows too buoyed market mood here, traders said.
Foreign institutional investors net bought equities worth Rs 1,185.44 crore on Tuesday, while domestic institutional investors sold shares to the tune of Rs 1,090.32 crore, provisional data available with stock exchanges showed.
Meanwhile, the Indian rupee appreciated marginally to 69.68 against the US dollar.
Brent crude, the global benchmark, was trading at USD 71.72 per barrel, higher by 0.64 per cent.
Globally, bourses in Asia ended on a mixed note, while those in Europe were trading in the green in early deals.
Database inadvertently exposed but did not include personal data: Chtrbox
New Delhi: Mumbai-based Chtrbox, which was allegedly responsible for leaking data of millions of Instagram users, has said database for a limited number of influencers was inadvertently exposed but that did not include any sensitive personal data.
The company termed the reports of private data being leaked as “inaccurate” and acknowledged that “a particular database for limited influencers was inadvertently exposed for approximately 72 hours”.
“This database did not include any sensitive personal data and only contained information available from the public domain, or self reported by influencers,” it said in a statement late Tuesday night.
On Tuesday, Facebook-owned Instagram said it is investigating whether a third-party – Chtrbox – improperly stored its user data in violation of its policies after reports that information of millions of users being available online allegedly in an unsecured database emerged.
These reports said the database found online – with over 49 million records – contained information of millions of Instagram influencers, celebrities and brand accounts. The database was allegedly traced back to Chtrbox.
The reports had said apart from public data (like bio, profile picture and number of followers), the database also allegedly contained users’ private contact information such as email address and phone number.
An Instagram spokesperson had said the company is “investigating whether a third party improperly stored Instagram data, in violation of our policies. It’s also not clear whether the phone numbers and e-mails in Chtrbox’s database came from Instagram”.
Chtrbox, in its statement, asserted that no personal data has been sourced through unethical means by the company.
“Our database is for internal research use only, we have never sold individual data or our database, and we have never purchased hacked-data resulting from social media platform breaches. Our use of our database is limited to help our team connect with the right influencers to support influencers to monetize their online presence, and help brands create great content,” it added.