Sensex, Nifty close at record highs: Five factors behind the market rally
State Bank of India, HDFC Bank, Larsen & Toubro, Hindalco, UPL and Bharat Petroleum Corporation were among the top gainers today
Rupa Burman Roy | February 2, 2021 | Updated 17:41 IST
Before closing at fresh record highs today, Sensex and Nifty hit intraday highs of 50,154 and 14,731
Benchmark indices continued cheering Union Budget 2021 for the second straight session and ended 2.5% higher on Tuesday. Sensex reclaimed the key 50,000 mark after six sessions in early trade today after FM Nirmala Sitharaman s third Budget speech enthused investors.
After a volatile trading session, Sensex ended 1,197 points higher at 49,797 and Nifty gained 366 points to 14,647, amid positive global equities. Before closing at fresh record highs today, Sensex and Nifty hit intraday highs of 50,154 and 14,731. Sensex and Nifty hit fresh lifetime highs of 50,184 and 14,753, on January 21.
Allied sectors will also gain from proposals for roads
February 01, 2021
Logistics, cement, transport, last-mail deliveries expected to make significant gains The Centre has planned more economic corridors to boost road infrastructure, including 11,000 km of national highway infrastructure, this year. This is expected to encourage and offer relief to related sectors including logistics, cement and transport.
“We have already started observing that the increased outlays in road sector, infrastructure development, railways, gas pipeline development will create a major boost to the V-shaped recovery,” said Vivek Bhatia, MD and CEO, thyssenkrupp Industries India Companies in the logistics sector will also gain. “Proposals to boost operational contingencies of road infrastructure and build more economic corridors have the potential to increase efficiencies across the logistics ecosystem and simulate regional economies to encourage local entrepreneurial initiatives,” said
Order today on Vinay Kulkarni’s bail plea
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After hearing arguments of both sides on the bail plea for Congress leader and former Minister Vinay Kulkarni, the High Court of Karnataka, Dharwad Bench, has posted the matter for orders on Thursday.
A single judge bench headed by Justice K.N. Nataraj on Wednesday heard the arguments from both the sides and posted the matter for orders on Thursday.
Arguing on behalf of CBI, Additional Solicitor General S.V. Raju said that the investigating team had begun interrogating the suspects and so far, statements of 164 persons had been recorded. As the investigation had reached a crucial stage, the court should not grant bail to the accused, he said.
Read more about Allcargo Logistics gains on appointing Suresh Kumar R as CEO on Business Standard. Allcargo Logistics rose 1.72% to Rs 135.90 after Suresh Kumar R was appointed as the Chief Executive Officer (CEO) and Key Managerial Personnel (KMP) of the company with effect from 15 January 2021.
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A Single Judge Bench of the High Court of Karnataka, Dharwad Bench, hearing a bail plea by Congress leader and former Minister Vinay Kulkarni on Wednesday adjourned hearing to January 20.
Earlier, Justice Nataraj had given additional time as sought for by the CBI to file detailed objections to the bail plea by the former Minister. The CBI has filed objections to the bail plea now.
On Wednesday, appearing for the CBI through video conference, Additional Solicitor General S.V. Raju presented his arguments and appealed to the court not to grant bail to the accused.
Advocate Shashikiran Shetty appeared before the court on behalf of Vinay Kulkarni.