BUSINESS
Markets close on high note; Nifty heading towards lifetime high
During the day, the Nifty touched a high of 18,641.20 and a low of 18,581.25 and closed at 18,598.65. "The Nifty held on to steady gains to end higher on May 29. At close, the Nifty was up 0.54 per cent or 99.3 points at 18,598.7. Volumes did not expand even as the Nifty kept surging higher," Deepak Jasani, Head of Retail Research, HDFC Securities said.
Banking stocks likely to lead market rally
Sandeep Gupta, Senior Group VP & Head of Dealing & Advisory - Broking & Distribution, MOFSL said the Index made a new all-time high of 44,483 mark on Monday, compared to its previous high of 44,151 made in December 2022. Gupta said earning momentum continued for banking stocks as most banks reported strong results.
India now largest producer, importer of coal: Pralhad Joshi
Addressing the first Mining Startup Summit here, Joshi said that today India has the fourth largest coal reserves. "This year, the production of coal has reached 850 million tonnes. We hope to stop import of thermal coal completely by 2025-2026. Further, a transparent system has been put into place for exploration and auction and all discretionary power has ended," he said.
RBI Governor says gaps noticed in banks' governance
"It is necessary that boards and managements do not allow such gaps to creep in," Das said at a conference of banks' directors organised by the RBI in Mumbai. The event was organised for private sector lenders by the apex bank. "While these gaps have been mitigated, it is necessary that boards and the managements do not allow such gaps to creep in," Das said in his speech.
Nirmala Sitharaman posts impressive report card of BJP's 9-year rule
Addressing the media as part of the BJP's all-India outreach to the masses, Union Finance Minister Nirmala Sitharaman said that 80 crore people were given free foodgrain during the Covid-19 pandemic while 220 crore were administered Coronavirus vaccine doses nationwide.
Indonesia's IPO market is thrashing HK, India
But Indonesia, a collection of islands with a big population and a fast-growing economy, sits on vast deposits of the metals needed to make batteries for electric vehicles. That has made the country an important engine of the global green transition -- and a magnet for investors, CNN reported.
48 US states sue telecom company over billions of illegal robocalls
The lawsuit was filed in US District Court for the District of Arizona against Avid Telecom, its CEO Michael Lansky and VP of Operations and Sales Stacey Reeves.
Asiana stops selling A321-200 emergency seats after man opened door mid-air
Asiana Airlines halted the sale of the 26A seat of 11 A321-200s, which can carry 174 passengers, and that of the 31A seat of three A321-200s, which can accommodate 195 passengers, the company said in a statement.
Mid and small-cap stocks faring better than large caps in India: Expert
"In the current financial year both mid cap index and small cap index have outperformed Nifty 50. This is primarily due to mean reversion. However, we believe in looking at a portfolio from a diversified perspective," Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited, told IANS.
Markets in 'Now or Never' mood for new lifetime highs
BSESENSEX gained on three of the five trading sessions, lost on one and remained flat on the fifth session. BSESENSEX gained 772.01 points or 1.25 per cent to close at 62,501.69 points while NIFTY gained 295.95 points or 1.63 per cent to close at 18,499.35 points. The broader indices like the BSE100, BSE200 and BSE500 gained 1.80 per cent, 1.95 per cent and 1.87 per cent respectively. BSEMIDCAP was up 2.49 per cent while BSESMALLCAP was up 1.39 per cent.
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