Connect with us

Business

Closing bell: Nifty nears all-time high, Sensex jumps 528 points to end at 67,127

Published

on

[ad_1]

Closing bell: Benchmark Sensex jumped by 528 points to regain the 67,000 level while Nifty scaled the record 20,000 mark for the first time as robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.

People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)

The successful G20 summit and buying in index majors Reliance Industries and HDFC Bank also added to the winning momentum in equities.

The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. During the day, it rallied 573.22 points or 0.86 per cent to 67,172.13.

The Nifty hit its all-time high of 20,008.15, a gain of 188.2 points or 0.94 per cent, in day trading. The 50-issue barometer closed just below the 20,000 mark at 19,996.35, reflecting gains of 176.40 points or 0.89 per cent.

“Nifty has finally managed to touch the much-anticipated 20,000 mark in the second attempt post-July 2023. Robust flows from local investors amidst mixed/negative flows from foreigners have helped Nifty achieve this landmark.

“Successful achievements recently in space and foreign diplomacy by India has boosted sentiments for Indian stocks generally in an era when the global situation is still shaky,” said Dhiraj Relli, MD & CEO, HDFC Securities Ltd.

Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers.

Bajaj Finance and Larsen & Toubro were the laggards.

“The domestic markets began the day on a positive note, bolstered by the historic consensus achieved at the G20 summit, which instilled confidence among investors. Higher-than-expected loan growth data and strong profitability along with lower NPA in PSU banks attracted investor interest.

“Additionally, expectations of easing inflation, driven by a decline in vegetable prices, fueled optimistic sentiment, leading to a market rally,” said Vinod Nair, Head of Research at Geojit Financial Services.

India on Saturday pulled off a big diplomatic win after the G20 summit adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending “global trust deficit”.

Modi also announced that African Union was admitted as G20’s permanent member.

In Asian markets, Seoul and Shanghai ended with gains while Tokyo and Hong Kong settled lower.

European markets were trading in the green. The US markets ended in positive territory on Friday.

Global oil benchmark Brent crude declined 0.23 per cent to USD 90.35 a barrel.

The BSE benchmark had jumped 333.35 points or 0.50 per cent to finish at 66,598.91 on Friday. The broader Nifty advanced 92.90 points or 0.47 per cent to settle at 19,819.95.

Foreign Institutional Investors (FIIs) offloaded equities worth 224.22 crore on Friday, according to exchange data.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Colgate-Palmolive CEO Shifts Focus to Science and Innovation in India’s Growing Market – Flaunt Post

Published

on

Colgate-Palmolive’s CEO, Noel Wallace, has openly acknowledged that the company allowed itself to be distracted by the allure of Patanjali’s Ayurvedic products, a deviation from its traditional focus on scientific credentials and technical superiority. Wallace, though, has made a strategic turn and now stresses the significance of going back to its basics. This change in strategy emphasises the company’s dedication to utilising India’s enormous talent pool and strong digital infrastructure to foster innovation and growth.

India, the third-largest market for oral care goods, has a special position in Colgate’s global strategy. Colgate-Palmolive recognises India as a pillar of its ambitions as it looks toward its 2025 vision. Notably, India has developed into a crucial innovation hub for business, not just for creating new products but also for creating cutting-edge technological platforms and applications. India has changed dramatically during the last five to ten years. It has become a hub for innovation and technical development, creating an ideal environment for businesses like Colgate-Palmolive to flourish. A thriving online market has been made possible by the government and private sector of India’s investments in digital infrastructure, and the nation’s enormous skill pool is still expanding tremendously. India has become established as a global talent outpost for innovation and development as a result of this combination of circumstances.

Wallace’s vision for Colgate in India revolves around a growth mindset. He emphasises the necessity of premiumization, enhancing the quality and appeal of Colgate’s goods, and boosting sales. India’s distinct market dynamics offer both possibilities and challenges. For instance, 80% of urban consumers only brush once a day, and more than half of the rural population in India does not brush every day. These figures show the market’s untapped potential in India, which Colgate-Palmolive intends to tap into with its new strategic direction.

In conclusion, Colgate-Palmolive’s CEO, Noel Wallace, recognises the need to return to the company’s roots, emphasizing its scientific prowess and technical excellence in India. India is a major priority for the company’s growth objectives because of its strategic relevance as a hub for markets and innovation. India has a growing talent pool and a cutting-edge digital infrastructure, making it a perfect location for businesses trying to spur innovation and win in this competitive market.

Continue Reading

Business

Pixel 8 vs. Pixel 8 Pro: Choosing Your Perfect Google Smartphone – Flaunt Post

Published

on

Google’s most recent smartphones, the Pixel 8 and Pixel 8 Pro, have caused a lot of discussion in the rapidly changing world of smartphones. These flagship phones accommodate various preferences and price ranges with a variety of new features and enhancements. To assist you in determining which one best meets your needs, we’ll compare the Google Pixel 8 and Pixel 8 Pro in this article.

PRICE TAG:

Let’s start by discussing the cost. Google’s Pixel series has received accolades in the past for providing flagship features at a more affordable pricing. But this time, the costs of both phones have gone up. The cost of the Pixel 8 is ₹58,000, while the Pixel 8 Pro is ₹83,000. The Pixel 8 can be your best option if you’re on a tight budget because it still has excellent capabilities without being too expensive.

CAMERA CAPABILITIES:

The camera settings on these two phones are one of their most striking distinctions. In this regard, the Pixel 8 Pro leads the way. With a 48MP ultrawide lens and a 48MP Quad PD telephoto camera, it promises a more sophisticated camera configuration. A must-have for photographers, this telephoto lens offers 5x optical zoom and Super Res Zoom up to 30x. However, while lacking the zoom capabilities of its pro sibling, the 50MP wide camera on the Pixel 8 offers a good photographic experience. If you are passionate about photography, the Pixel 8 Pro’s camera capabilities may be the deciding factor.

DISPLAY SIZE AND QUALITY:

Your smartphone experience can be dramatically impacted by display size. The largest screen, at 6.7 inches, belongs to the Pixel 8 Pro, giving it the best choice for multitasking and watching video. The Pixel 8 boasts a smaller 6.2-inch display in comparison. In addition, the Pixel 8 Pro has a screen that is brighter and clearer than the Pixel 8, with a resolution of 1,384 x 2,992 pixels as opposed to 1,080 x 2,400 pixels. Additionally, the Pro model has a broader range of changeable refresh rates (1Hz to 120Hz), which improves the fluidity of your interactions.

BATTERY LIFE:

Particularly for people who use their phones continuously throughout the day, battery life is an important consideration. With a bigger 4,950mAh battery than the smaller 4,355mAh battery of the Pixel 8, the Pixel 8 Pro has the advantage in this area. The Pixel 8 Pro can complete your everyday chores without frequently needing to be recharged due to its increased capacity.

SPECIAL FEATURES:

Both phones use Google’s Tensor G3 chip and Titan M2 security coprocessor, which improve security and AI-powered functionality. However, the larger battery and more sophisticated camera capabilities of the Pixel 8 Pro make it more suitable for undertaking more difficult AI jobs. A game-changer for some users, the Pro model also includes features like the Audio Magic Eraser, Super Res Zoom, and enhanced Call Screen.

In conclusion, your priorities and finances ultimately determine whether you choose the Google Pixel 8 or Pixel 8 Pro. The Pixel 8 is a great alternative if you’re searching for a low-cost device with good capabilities and a more manageable size. The Pixel 8 Pro is a worthwhile purchase if you’re a photography enthusiast who values a larger, high-quality display and longer battery life. Whatever you decide, both phones provide a glimpse into the future of smartphone technology as well as the prominent Google experience.

Continue Reading

Business

Noida International Airport Projects Skyrocketing Growth Amidst Air Travel Resurgence – Flaunt Post

Published

on

The Noida International Airport in Jewar has altered its passenger traffic predictions in a surprising change of events that reflects the amazing increase in air travel. The airport’s initial goals for its first year of operation were accommodating 4.1 million passengers. However, according to the most recent estimate, it now expects to host an astounding 6.5 million visitors. This long-awaited aviation hub, which is owned by Zurich Airport and skillfully built by Tata Projects, is set to open its doors in 2024.

Christoph Schnellmann, the CEO of Noida Airport, is the main reason behind this assurance. He credits the swift recovery of Indian air travel as well as the sizeable aircraft orders made by Indian carriers for this optimistic prediction. The domestic aviation industry in India has recovered at an astounding rate and has been nothing short of a success story. According to Airbus’s far-sighted forecast, India would welcome a staggering 685 million passengers by the year 2042, solidifying its position as the world’s third-largest civil aviation market, behind China and the United States.

What further underscores India’s aviation prowess is the revelation by a Barclays report that Indian carriers hold the world’s second-largest order backlog, contributing nearly 7% to the global aviation industry’s total backlog, second only to the United States. This is a testament to the robust growth and potential of the Indian aviation sector.

A fascinating investor presentation offers an intriguing picture of a bustling airport that will welcome 12 million passengers in its first three years of operation. The Noida airport, which has a single runway and an incredible 28 aircraft stand, will pull off this amazing accomplishment. The runway, which measures an impressive 3,900 metres, can accommodate up to 28 aircraft at once. A vast passenger terminal with a huge area of 100,000 square metres complements this infrastructure.

However, reaching 12 million passengers just signals the start of a bold expansion strategy. The airport’s long-term goal is to serve an estimated 70 million people a year, securing its position as a significant aviation centre in the area. Instead of relying on overflow traffic from Delhi Airport, Noida International Airport has made a firm commitment to building its own distinct client base. This unique strategy highlights the airport’s confidence in its capacity to draw travellers from the neighbouring areas in addition to Delhi.

Noida International Airport’s potential is further enhanced by its advantageous location. It is ideally positioned to serve as the entryway to the renowned tourist spots, including those in close proximity to Agra, Mathura, and Barsana. A consistent flow of business travellers is also guaranteed by its proximity to industrial centres like Ghaziabad, which is home to electronics giants like Samsung, LG, and Vivo. Furthermore, the airport has set its sights on fostering international connections with SAARC and Middle Eastern countries. This ambitious endeavor is expected to bolster the airport’s global reach and make it a crucial international transit point.

The International Air Transport Association (IATA) recently assigned the Noida International Airport the three-letter code “DXN” in an important strategic move. This code symbolises the airport’s strategic location, serving not only Noida but also Delhi and western Uttar Pradesh. This multi-state accessibility is set to make Noida International Airport a convenient and preferred choice for travellers.

Noida International Airport stands as a tribute to India’s aviation rebirth as the countdown to its 2024 opening continues. The airport is poised to change air travel in northern India and make a lasting impression on the world of aviation as a result of ambitious growth estimates, a dedication to building its client base, and a strategic position that connects business and pleasure.

Continue Reading

Trending