The domestic stock market indices made a firm start to the first trading session of March, up over 1 per cent, in early deals, on the back of upbeat global mood and the Q3 GDP print.

The S&amp;P BSE Sensex rallied 550 points to 49,640 levels and the Nifty50 at 14,700-mark. M&amp;M, ONGC and Titan were among the top Sensex gainers and rose in the range of 3-5 per cent.

Auto and metal stocks raised the most. The Auto index jumped over 2 per cent on the back of February auto sales numbers, meanwhile, IT, energy and banking sectors also lifted the sentiment.&nbsp;

Meanwhile, the Indian rupee slumped 29 paise to 73.76 against the US dollar in opening trade, weighed down by significant foreign fund outflows and rising crude oil prices.

(With inputs from agencies)

The domestic stock market indices made a firm start to the first trading session of March, up over 1 per cent, in early deals, on the back of upbeat global mood and the Q3 GDP print.

The domestic stock market indices made a firm start to the first trading session of March, up over 1 per cent, in early deals, on the back of upbeat global mood and the Q3 GDP print. The S&P BSE Sensex rallied 550 points to 49,640 levels and the Nifty50 at 14,700-mark. M&M, ONGC and Titan were among the top Sensex gainers and rose in the range of 3-5 per cent. Auto and metal stocks raised the most. The Auto index jumped over 2 per cent on the back of February auto sales numbers, meanwhile, IT, energy and banking sectors also lifted the sentiment. Meanwhile, the Indian rupee slumped 29 paise to 73.76 against the US dollar in opening trade, weighed down by significant foreign fund outflows and rising crude oil prices. (With inputs from agencies)

Sensex gains 550 points, Nifty at 14,698.80

Domestic equity markets followed global markets and witnessed one of the steepest sell-offs since March last year.

Sensex tumbled 2,149 points while the Nifty50 index slumped 629 points. The indices ended near the lowest point of the day, at 49,100 and 14,529 levels, respectively, down 1,939 points and 568 points.

Investors also turned cautious ahead of the third quarter GDP data release, besides keeping an eye on simmering geopolitical tensions between the US and Syria.&nbsp;

Sectorally, banking index suffered the maximum loss with over 4.8 per cent drop. Financial and telecom indices too fell sharply by 4.9 per cent and 3.85 per cent, respectively.

"Equity markets opened gap down following spike in global bond yields and extended its weakness further as the session progressed. Panic in global bond markets led to sharp rise in yields which spooked investors amid fears of interest rate cycle reversal," said Hemang Jani, Head of Equity Strategy, Broking &amp; Distribution, Motilal Oswal.

Vinod Nair, Head of Research at Geojit Financial Services, said, "Domestic markets tumbled in line with global trend triggered by a sharp rise in bond yields. Increasing geopolitical tension between the US and Syria aggravated the selling. Q3 GDP data which is to be released today also added volatility in the Indian market."&nbsp;

Global markets

Global stocks fell on Friday, with Asian shares down by the most in nine months. MSCI's Emerging Markets equity index suffered its biggest daily drop in nearly 10 months and was 2.7 per cent lower, while European shares opened in the red, with the STOXX 600 down 0.7 per cent.

The MSCI world equity index, which tracks shares in 50 countries, was 0.9 per cent lower and was heading for its worst week in a month.

Asia saw the heaviest selling, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding more than 3 per cent to a one-month low, its steepest one-day percentage loss since May 2020.

(With inputs from agencies)

Domestic equity markets followed global markets and witnessed one of the steepest sell-offs since March last year. Sensex tumbled 2,149 points while the Nifty50 index slumped 629 points.

Domestic equity markets followed global markets and witnessed one of the steepest sell-offs since March last year. Sensex tumbled 2,149 points while the Nifty50 index slumped 629 points. The indices ended near the lowest point of the day, at 49,100 and 14,529 levels, respectively, down 1,939 points and 568 points. Investors also turned cautious ahead of the third quarter GDP data release, besides keeping an eye on simmering geopolitical tensions between the US and Syria. Sectorally, banking index suffered the maximum loss with over 4.8 per cent drop. Financial and telecom indices too fell sharply by 4.9 per cent and 3.85 per cent, respectively. "Equity markets opened gap down following spike in global bond yields and extended its weakness further as the session progressed. Panic in global bond markets led to sharp rise in yields which spooked investors amid fears of interest rate cycle reversal," said Hemang Jani, Head of Equity Strategy, Broking & Distribution, Motilal Oswal. Vinod Nair, Head of Research at Geojit Financial Services, said, "Domestic markets tumbled in line with global trend triggered by a sharp rise in bond yields. Increasing geopolitical tension between the US and Syria aggravated the selling. Q3 GDP data which is to be released today also added volatility in the Indian market." Global markets Global stocks fell on Friday, with Asian shares down by the most in nine months. MSCI's Emerging Markets equity index suffered its biggest daily drop in nearly 10 months and was 2.7 per cent lower, while European shares opened in the red, with the STOXX 600 down 0.7 per cent. The MSCI world equity index, which tracks shares in 50 countries, was 0.9 per cent lower and was heading for its worst week in a month. Asia saw the heaviest selling, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding more than 3 per cent to a one-month low, its steepest one-day percentage loss since May 2020. (With inputs from agencies)

Sensex sinks 1,939 points, Nifty tanks below 14,500

Stock market indices, Sensex and Nifty ended flat on Tuesday as gains in metal and energy stocks were capped by losses in banking and financial space. &nbsp;Broader markets, smallcap and midcap indices outperformed the benchmarks as they gained 1 per cent each.&nbsp;

A spurt in COVID-19 cases and lack of fresh buying triggers continued to weigh on sentiment, traders said.

After gyrating 667.46 points during the day, the 30-share BSE Sensex ended just 7.09 points or 0.01 per cent higher at 49,751.41.

On similar lines, the broader NSE Nifty settled 32.10 points or 0.22 per cent up at 14,707.80.

ONGC topped the Sensex gainers' chart, climbing 5.55 per cent, followed by IndusInd Bank, L&amp;T, UltraTech Cement, SBI, NTPC and Titan.

Index heavyweight Reliance Industries rose 0.84 per cent after the company announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.

On the other hand, Kotak Bank, Maruti, Bajaj Auto, HDFC Bank, HCL Tech and HDFC were among the laggards, sliding as much as 3.87 per cent.

World shares were mixed ahead of Federal Reserve Chairman Jerome Powell's semi-annual testimony before the Senate Banking Committee, where he is expected to underscore the Fed's dovish stance to boost growth.

"Domestic market got back on its feet during the morning trade supported by strong Asian market while negative waves from European peers outweighed the gains by the end of the day. The expectation of strong global recovery as prompted by rising international commodity prices helped the market but was tempered due to elevated bond yield and virus cases.

"Consequently, volatility has increased in the domestic front, but broad markets continue to be attracted with themes like mid and small caps, cyclicals, energy, PSUs, metals and industries," said Vinod Nair, Head of Research at Geojit Financial Services.&nbsp;

BSE metal, realty, basic materials, oil and gas, capital goods, power and consumer durables indices rose up to 3.71 per cent, while bankex, finance and telecom closed with losses. 
Broader BSE midcap and smallcap indices advanced up to 0.98 per cent.

Elsewhere in Asia, bourses in Shanghai and Seoul ended on a negative note, while Hong Kong settled with gains.

Stock exchanges in Europe were also trading in the red in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.81 per cent higher at USD 64.88 per barrel.

The rupee slipped from the day's highest level but managed to eke out a marginal gain of 3 paise at 72.46 against the US dollar.&nbsp;

(With inputs from agencies)

Stock market indices, Sensex and Nifty ended flat on Tuesday as gains in metal and energy stocks were capped by losses in banking and financial space. Broader markets, smallcap and midcap indices outperformed the benchmarks as they gained 1 per cent each.

Stock market indices, Sensex and Nifty ended flat on Tuesday as gains in metal and energy stocks were capped by losses in banking and financial space. Broader markets, smallcap and midcap indices outperformed the benchmarks as they gained 1 per cent each. A spurt in COVID-19 cases and lack of fresh buying triggers continued to weigh on sentiment, traders said. After gyrating 667.46 points during the day, the 30-share BSE Sensex ended just 7.09 points or 0.01 per cent higher at 49,751.41. On similar lines, the broader NSE Nifty settled 32.10 points or 0.22 per cent up at 14,707.80. ONGC topped the Sensex gainers' chart, climbing 5.55 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, SBI, NTPC and Titan. Index heavyweight Reliance Industries rose 0.84 per cent after the company announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco. On the other hand, Kotak Bank, Maruti, Bajaj Auto, HDFC Bank, HCL Tech and HDFC were among the laggards, sliding as much as 3.87 per cent. World shares were mixed ahead of Federal Reserve Chairman Jerome Powell's semi-annual testimony before the Senate Banking Committee, where he is expected to underscore the Fed's dovish stance to boost growth. "Domestic market got back on its feet during the morning trade supported by strong Asian market while negative waves from European peers outweighed the gains by the end of the day. The expectation of strong global recovery as prompted by rising international commodity prices helped the market but was tempered due to elevated bond yield and virus cases. "Consequently, volatility has increased in the domestic front, but broad markets continue to be attracted with themes like mid and small caps, cyclicals, energy, PSUs, metals and industries," said Vinod Nair, Head of Research at Geojit Financial Services. BSE metal, realty, basic materials, oil and gas, capital goods, power and consumer durables indices rose up to 3.71 per cent, while bankex, finance and telecom closed with losses. Broader BSE midcap and smallcap indices advanced up to 0.98 per cent. Elsewhere in Asia, bourses in Shanghai and Seoul ended on a negative note, while Hong Kong settled with gains. Stock exchanges in Europe were also trading in the red in mid-session deals. Meanwhile, the global oil benchmark Brent crude was trading 0.81 per cent higher at USD 64.88 per barrel. The rupee slipped from the day's highest level but managed to eke out a marginal gain of 3 paise at 72.46 against the US dollar. (With inputs from agencies)

Sensex ends flat with a positive bias, Nifty holds 14,700; metals outshine, banks underperform

Domestic stock market Sensex and Nifty traded with heavy losses dragged by selling in PSU banks and auto stocks. Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices traded lower. Gains were witnessed only in metal stocks.

The BSE Sensex fell to 50,160.17 levels, down 737.31 points and the Nifty gave up the 15,000 level, dropping 198.15 points or 1.30% to 14,784.25. &nbsp;shortly after reclaiming it in the opening deals.&nbsp;

IndusInd Bank, Bajaj Auto, Larsen &amp; Toubro, PowerGrid, and HDFC were all down over 1 per cent.

L&amp;T was the top loser in the Sensex pack, shedding around 2 per cent, followed by M&amp;M, Dr Reddy's, Maruti, HDFC, TCS and Bajaj Auto.

On the other hand, ONGC, HDFC Bank, Tech Mahindra and Infosys were among the gainers.

In the previous session, Sensex ended 434.93 points or 0.85 per cent lower at 50,889.76, and Nifty gave up the 15,000 level, dropping 137.20 points or 0.91 per cent to 14,981.75.&nbsp;

Elsewhere in Asia, bourses in Shanghai and Seoul were trading on a positive note in mid-session deals, while Hong Kong and Tokyo were in the red.

Meanwhile, the global oil benchmark Brent crude was trading 1.06 per cent higher at USD 62.80 per barrel.&nbsp;

(With inputs from agencies)

Domestic stock market Sensex and Nifty traded with heavy losses dragged by selling in PSU banks and auto stocks. Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices traded lower.

Domestic stock market Sensex and Nifty traded with heavy losses dragged by selling in PSU banks and auto stocks. Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices traded lower. Gains were witnessed only in metal stocks. The BSE Sensex fell to 50,160.17 levels, down 737.31 points and the Nifty gave up the 15,000 level, dropping 198.15 points or 1.30% to 14,784.25. shortly after reclaiming it in the opening deals. IndusInd Bank, Bajaj Auto, Larsen & Toubro, PowerGrid, and HDFC were all down over 1 per cent. L&T was the top loser in the Sensex pack, shedding around 2 per cent, followed by M&M, Dr Reddy's, Maruti, HDFC, TCS and Bajaj Auto. On the other hand, ONGC, HDFC Bank, Tech Mahindra and Infosys were among the gainers. In the previous session, Sensex ended 434.93 points or 0.85 per cent lower at 50,889.76, and Nifty gave up the 15,000 level, dropping 137.20 points or 0.91 per cent to 14,981.75. Elsewhere in Asia, bourses in Shanghai and Seoul were trading on a positive note in mid-session deals, while Hong Kong and Tokyo were in the red. Meanwhile, the global oil benchmark Brent crude was trading 1.06 per cent higher at USD 62.80 per barrel. (With inputs from agencies)

Sensex sinks over 700 points, Nifty around 14,780

Indian stock markets nosedived on Monday as they continued to fall for the fifth consecutive trading session; Sensex and Nifty were under the strong grip of bears.

The BSE barometer of the 30-share index settled at a 3-week low of 49,744 levels, down 1,145 points or 2.25 per cent. The Nifty50 index managed to end above the 14,650-mark at 14,676, down 306 points or 2 per cent.&nbsp;

Domestic equities rose sharply in the first two weeks of February thanks to solid corporate earnings and a well-received federal budget, but markets have pared some of those gains in recent sessions due to profit-taking.

Global markets

World shares sank on Monday as expectations for faster economic growth and inflation battered bonds and boosted commodities, while rising real yields made equity valuations look more stretched in comparison.

MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.4 per cent after the start of European trade.

The pan-European STOXX 600 index was down 1 per cent, at its lowest in 10 days. Germany’s DAX, France’s CAC 40 and Spain’s IBEX 35 index fell 1 per cent each, Britain’s FTSE 100 lost 0.85 per cent and Italy’s FTSE MIB index fell 0.9%.

S&amp;P 500 futures fell to their lowest since Feb. 4, down 1% on the day.

(With inputs from Reuters)

Indian stock markets nosedived on Monday as they continued to fall for the fifth consecutive trading session; Sensex and Nifty were under the strong grip of bears.

Indian stock markets nosedived on Monday as they continued to fall for the fifth consecutive trading session; Sensex and Nifty were under the strong grip of bears. The BSE barometer of the 30-share index settled at a 3-week low of 49,744 levels, down 1,145 points or 2.25 per cent. The Nifty50 index managed to end above the 14,650-mark at 14,676, down 306 points or 2 per cent. Domestic equities rose sharply in the first two weeks of February thanks to solid corporate earnings and a well-received federal budget, but markets have pared some of those gains in recent sessions due to profit-taking. Global markets World shares sank on Monday as expectations for faster economic growth and inflation battered bonds and boosted commodities, while rising real yields made equity valuations look more stretched in comparison. MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.4 per cent after the start of European trade. The pan-European STOXX 600 index was down 1 per cent, at its lowest in 10 days. Germany’s DAX, France’s CAC 40 and Spain’s IBEX 35 index fell 1 per cent each, Britain’s FTSE 100 lost 0.85 per cent and Italy’s FTSE MIB index fell 0.9%. S&P 500 futures fell to their lowest since Feb. 4, down 1% on the day. (With inputs from Reuters)

Sensex hits 3-week low, ends 1,145 points down; Nifty holds 14,650

Domestic stock market indices ended lower for the fourth straight session on Friday amid broad-based selling seen across all sectors. Losses in banking, auto and metal stocks dragged the markets the most.&nbsp;

BSE Sensex nursed losses of 435 points, or 0.85 per cent, to end the day at 50,890 levels. In the intra-day trade, the index tanked 800 points from the day's high to hit a low of 50,624.&nbsp;

The Nifty50 index gave up the 15,000-mark and settled at 14,982 levels, down 137 points or 0.9 per cent. It hit an intra-day low of 14,898.

Global markets

Shares struggled to avoid a fourth straight day of losses on Friday as data showed eurozone business activity slowing in February, while German and British 10-year bond yields touched multi-month highs, driven up by bets on rising inflation.

The pan European index was up 0.1 per cent, while London's FTSE index was 0.1 per cent weaker.

In Asia, MSCI world equity benchmark was up 0.1 per cent, MSCI's broadest index of Asia Pacific shares outside of Japan was down 0.1 per cent, while E-mini futures for the S&amp;P 500 were broadly flat.

(With inputs from Reuters)

Domestic stock market indices ended lower for the fourth straight session on Friday amid broad-based selling seen across all sectors. Losses in banking, auto and metal stocks dragged the markets the most.

Domestic stock market indices ended lower for the fourth straight session on Friday amid broad-based selling seen across all sectors. Losses in banking, auto and metal stocks dragged the markets the most. BSE Sensex nursed losses of 435 points, or 0.85 per cent, to end the day at 50,890 levels. In the intra-day trade, the index tanked 800 points from the day's high to hit a low of 50,624. The Nifty50 index gave up the 15,000-mark and settled at 14,982 levels, down 137 points or 0.9 per cent. It hit an intra-day low of 14,898. Global markets Shares struggled to avoid a fourth straight day of losses on Friday as data showed eurozone business activity slowing in February, while German and British 10-year bond yields touched multi-month highs, driven up by bets on rising inflation. The pan European index was up 0.1 per cent, while London's FTSE index was 0.1 per cent weaker. In Asia, MSCI world equity benchmark was up 0.1 per cent, MSCI's broadest index of Asia Pacific shares outside of Japan was down 0.1 per cent, while E-mini futures for the S&P 500 were broadly flat. (With inputs from Reuters)

Sensex gives up 51,000 amid broad-based sell-off, dips 435 points

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red.&nbsp;

From its fresh record high level of 52,517, hit earlier today, the S&amp;P BSE Sensex tanked 650 points to hit a low of 51,864. The index, however, settled at 52,104 levels, down 50 points or 0.1 per cent.

The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. The index hit fresh lifetime high of 15,432 in the morning trade today.&nbsp;

Nifty Midcap 50 jumped 0.38% and the Smallcap 50 gained 0.40%. Among top gainers on BSE Sensex were Power Grid, up 6%, followed by ONGC’s 5% jump and NTPC. Axis Bank and ICICI Bank were among the drags.

(With inputs from agencies)

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red. From its fresh record high level of 52,517, hit earlier today, the S&P BSE Sensex tanked 650 points to hit a low of 51,864.

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red. From its fresh record high level of 52,517, hit earlier today, the S&P BSE Sensex tanked 650 points to hit a low of 51,864. The index, however, settled at 52,104 levels, down 50 points or 0.1 per cent. The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. The index hit fresh lifetime high of 15,432 in the morning trade today. Nifty Midcap 50 jumped 0.38% and the Smallcap 50 gained 0.40%. Among top gainers on BSE Sensex were Power Grid, up 6%, followed by ONGC’s 5% jump and NTPC. Axis Bank and ICICI Bank were among the drags. (With inputs from agencies)

Sensex ends flat after volatile trade, Nifty at 15,313

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.83 points or 1.18 per cent up at its new closing peak of 52,154.13.

Similarly, the broader NSE Nifty soared 151.40 points or 1 per cent to finish at a record 15,314.70. It touched an intra-day peak of 15,340.15.

Axis Bank led the Sensex gainers' chart, climbing 5.88 per cent, followed by ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv and HDFC Bank.

On the other hand, Dr Reddy's, TCS, Tech Mahindra, HUL, Asian Paints and Titan were among the laggards, sliding up to 1.77 per cent.

Meanwhile, the global oil benchmark Brent crude was trading 1.30 per cent higher at USD 63.24 per barrel.

The rupee gained 7 paise to settle at 72.68 against the US dollar.

Global markets

Global shares rose for the 11th day in a row to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.

With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9 per cent to reclaim the 30,000-point level for the first time in more than three decades.

In Europe, shares scaled one-year highs on Monday with the pan-European STOXX 600 up 0.7 per cent. 
&nbsp;&nbsp; 
Oil joined equity markets in pushing higher, reaching its highest level since January 2020. Brent crude rose 1.6 per cent to $63.41 a barrel. US crude oil gained 2.1 per cent to $60.74.

In the cryptocurrency market, Bitcoin recovered some of its overnight weakness to trade down 2.3 per cent at $47,539.49, below a record high of $49,714.66.

(With inputs from Reuters)&nbsp;

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.83 points or 1.18 per cent up at its new closing peak of 52,154.13. Similarly, the broader NSE Nifty soared 151.40 points or 1 per cent to finish at a record 15,314.70. It touched an intra-day peak of 15,340.15. Axis Bank led the Sensex gainers' chart, climbing 5.88 per cent, followed by ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv and HDFC Bank. On the other hand, Dr Reddy's, TCS, Tech Mahindra, HUL, Asian Paints and Titan were among the laggards, sliding up to 1.77 per cent. Meanwhile, the global oil benchmark Brent crude was trading 1.30 per cent higher at USD 63.24 per barrel. The rupee gained 7 paise to settle at 72.68 against the US dollar. Global markets Global shares rose for the 11th day in a row to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high. With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9 per cent to reclaim the 30,000-point level for the first time in more than three decades. In Europe, shares scaled one-year highs on Monday with the pan-European STOXX 600 up 0.7 per cent. Oil joined equity markets in pushing higher, reaching its highest level since January 2020. Brent crude rose 1.6 per cent to $63.41 a barrel. US crude oil gained 2.1 per cent to $60.74. In the cryptocurrency market, Bitcoin recovered some of its overnight weakness to trade down 2.3 per cent at $47,539.49, below a record high of $49,714.66. (With inputs from Reuters)

Markets surge to lifetime highs: Sensex rallies 610 points, Nifty ends above 15,300 led by banks

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues.&nbsp;

Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG.&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sensex-hits-52000-mark-for-the-first-time-ever-nifty-at-record-highs-363696/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<a href="https://www.wionews.com/business-economy/budget-rejuvenates-the-bulls-stock-markets-at-record-high-361126">Also read: Budget rejuvenates the bulls, stock markets at record high</a> 
 
BSE Sensex jumped to its lifetime high of 52,141.67, rallying 597.37 points during the morning trade on Monday.

The broader Nifty50 index also hovered above 15,300.

Banks and financial counters were the leading gainers in the market on Monday, with Bajaj Finance, Axis Bank, ICICI Bank, HDFC, Kotak Bank, IndusInd Bank, and HDFC Bank rising around 2.60 percent.

The benchmark index had closed above the 50,000 marks for the first time on February 3 this year, mainly driven by euphoria over the Union Budget. It closed above the 51,000 mark on February 8.

Markets have been rewarding investors of late as the BSE 30-share index has more than doubled from the massive lows it faced in March last year.

Proving to be a dreadful month for the domestic stock market, March 2020 saw the Sensex sinking a massive 8,828.8 points or 23 per cent during the month as concerns over the COVID-19 pandemic's impact on the economy ravaged investor sentiments.

From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020.

Stock markets had depicted volatile trends during the last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to life during the later part of 2020 and hit its record high of 47,896.97 on the last day of trade on December 31.

In 2020, the benchmark index made monthly gains in seven, while closing with losses in five.

So far this year, the benchmark index has gained 4,390.34 points or 9.19 per cent.

Thanks to the ongoing rally, investor wealth has also been rising to new records and is currently at over Rs 205.47 lakh crore.&nbsp;

(With inputs from agencies)

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues. Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG.

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues. Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG. Also read: Budget rejuvenates the bulls, stock markets at record high BSE Sensex jumped to its lifetime high of 52,141.67, rallying 597.37 points during the morning trade on Monday. The broader Nifty50 index also hovered above 15,300. Banks and financial counters were the leading gainers in the market on Monday, with Bajaj Finance, Axis Bank, ICICI Bank, HDFC, Kotak Bank, IndusInd Bank, and HDFC Bank rising around 2.60 percent. The benchmark index had closed above the 50,000 marks for the first time on February 3 this year, mainly driven by euphoria over the Union Budget. It closed above the 51,000 mark on February 8. Markets have been rewarding investors of late as the BSE 30-share index has more than doubled from the massive lows it faced in March last year. Proving to be a dreadful month for the domestic stock market, March 2020 saw the Sensex sinking a massive 8,828.8 points or 23 per cent during the month as concerns over the COVID-19 pandemic's impact on the economy ravaged investor sentiments. From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020. Stock markets had depicted volatile trends during the last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to life during the later part of 2020 and hit its record high of 47,896.97 on the last day of trade on December 31. In 2020, the benchmark index made monthly gains in seven, while closing with losses in five. So far this year, the benchmark index has gained 4,390.34 points or 9.19 per cent. Thanks to the ongoing rally, investor wealth has also been rising to new records and is currently at over Rs 205.47 lakh crore. (With inputs from agencies)

Markets surge to lifetime highs: Sensex reaches 52,000; Nifty above 15,300-mark

A young day trader who went by the screen name Roaring Kitty and found himself at the center of the GameStop stock trading frenzy will make his first public appearance at a congressional hearing Thursday.

The trader, Keith Gill, was on a list released Friday of the panel that will appear in front of the House Committee on Financial Services as it examines the circumstances around the wild spikes in prices of GameStop and other so-called meme stocks.

Also read|&nbsp;<a href="https://www.wionews.com/business-economy/how-gamestop-missed-out-on-capitalising-on-the-reddit-rally-362984">How GameStop missed out on capitalising on the Reddit rally</a>

Gill is the only non-chief executive who will appear at the event, titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media and Retail Investors Collide.”

The other people testifying that day will be Vlad Tenev, CEO of online broker Robinhood; Kenneth C. Griffin, CEO of trading firm Citadel; Gabe Plotkin, CEO of hedge fund Melvin Capital Management; and Steve Huffman, CEO of social media company Reddit.

Gill lingered in anonymity until he was outed last month as the person behind Roaring Kitty. Under that screen name, Gill shot dozens of videos from his home in Massachusetts promoting the GameStop stock.

Also read|&nbsp;<a href="https://www.wionews.com/entertainment/hbo-to-develop-film-chronicling-the-gamestop-wall-street-incident-361954">HBO to develop film chronicling the GameStop-Wall Street incident</a>

He built up a large holding of GameStop shares and became a hero among the online crowd that gathered on Reddit to talk about the stock. But his endorsement has drawn attention from regulators in his home state.

Many of these traders bought and sold stocks on the Robinhood trading app. But Robinhood and other brokers effectively blocked trading of GameStop on its platform as the stock became the most actively traded on Wall Street, with its share price up as much as 1,700% in January.

The spike caused huge losses for the hedge funds that had made big bets against GameStop. Melvin lost 53% in January, a person familiar with the matter said, and had to ask for billions of dollars from other hedge funds, including Citadel, to stay afloat.

Robinhood’s decision to block trading infuriated its customers and drew bipartisan condemnation, with the unlikely combination of Rep. Alexandria Ocasio-Cortez and Sen. Ted Cruz agreeing on the issue.

Robinhood raised $3.4 billion in five days to ensure it had enough money to cover the trading on its platforms. Even so, the platform continued to limit trading of GameStop and other so-called meme stocks, such as AMC Entertainment, for days.

A young day trader who went by the screen name Roaring Kitty and found himself at the center of the GameStop stock trading frenzy will make his first public appearance at a congressional hearing Thursday.

A young day trader who went by the screen name Roaring Kitty and found himself at the center of the GameStop stock trading frenzy will make his first public appearance at a congressional hearing Thursday. The trader, Keith Gill, was on a list released Friday of the panel that will appear in front of the House Committee on Financial Services as it examines the circumstances around the wild spikes in prices of GameStop and other so-called meme stocks. Also read| How GameStop missed out on capitalising on the Reddit rally Gill is the only non-chief executive who will appear at the event, titled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media and Retail Investors Collide.” The other people testifying that day will be Vlad Tenev, CEO of online broker Robinhood; Kenneth C. Griffin, CEO of trading firm Citadel; Gabe Plotkin, CEO of hedge fund Melvin Capital Management; and Steve Huffman, CEO of social media company Reddit. Gill lingered in anonymity until he was outed last month as the person behind Roaring Kitty. Under that screen name, Gill shot dozens of videos from his home in Massachusetts promoting the GameStop stock. Also read| HBO to develop film chronicling the GameStop-Wall Street incident He built up a large holding of GameStop shares and became a hero among the online crowd that gathered on Reddit to talk about the stock. But his endorsement has drawn attention from regulators in his home state. Many of these traders bought and sold stocks on the Robinhood trading app. But Robinhood and other brokers effectively blocked trading of GameStop on its platform as the stock became the most actively traded on Wall Street, with its share price up as much as 1,700% in January. The spike caused huge losses for the hedge funds that had made big bets against GameStop. Melvin lost 53% in January, a person familiar with the matter said, and had to ask for billions of dollars from other hedge funds, including Citadel, to stay afloat. Robinhood’s decision to block trading infuriated its customers and drew bipartisan condemnation, with the unlikely combination of Rep. Alexandria Ocasio-Cortez and Sen. Ted Cruz agreeing on the issue. Robinhood raised $3.4 billion in five days to ensure it had enough money to cover the trading on its platforms. Even so, the platform continued to limit trading of GameStop and other so-called meme stocks, such as AMC Entertainment, for days.

Reddit’s ‘Roaring Kitty’ will speak at GameStop hearing

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings.

The S&amp;P BSE Sensex rose 0.4% to 51,531, while the NSE Nifty 50 Index gained 0.4% as well to end the session at 15,173. Both indices had closed the previous to sessions lower after six days of gains, their longest winning streak in a month that took them to new highs.

Global markets

Asian shares rested at record highs on Thursday as investors digested recent meaty gains, while bulls were sustained by the promise of endless free money after a benign reading on U.S. inflation and a dovish Federal Reserve outlook.

Adding to the torpor was a lack of liquidity as markets in China, Japan, South Korea and Taiwan were all on holiday.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 per cent. Japan's Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia's main index held near an 11-month top.

(With inputs from Reuters)

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings.

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings. The S&P BSE Sensex rose 0.4% to 51,531, while the NSE Nifty 50 Index gained 0.4% as well to end the session at 15,173. Both indices had closed the previous to sessions lower after six days of gains, their longest winning streak in a month that took them to new highs. Global markets Asian shares rested at record highs on Thursday as investors digested recent meaty gains, while bulls were sustained by the promise of endless free money after a benign reading on U.S. inflation and a dovish Federal Reserve outlook. Adding to the torpor was a lack of liquidity as markets in China, Japan, South Korea and Taiwan were all on holiday. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 per cent. Japan's Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia's main index held near an 11-month top. (With inputs from Reuters)

Sensex ends 222 points higher, Nifty tops 15,150

The bulls are back once again in the Indian stock markets. If there were any fears among investors before the Budget 2021, they have been clearly put to rest by India's finance minister Nirmala Sitharaman in her speech on February 1.&nbsp;

Clearly, absence of any 'Robinhood' tax has cheered the investor community and the unbridled growth in the markets has resumed.&nbsp;

Today also both major indices in India Sensex and Nifty closed at record highs of 50255.75 and 14789.45 respectively, extending their post-budget gains for the third straight day.&nbsp;

Why are Indian stock markets at record high?

Budget proposals and the absence of any negative news globally have given another booster dose of optimism to investors. While the Budget proposal to raise foreign direct investment (FDI) limit in insurance from 49 per cent to 74 per cent has led to rise in prices of insurance stocks today, scrappage policy for vehicles is leading to rise in prices of auto stocks as well.&nbsp;

Absence of the much-feared COVID cess and any surcharge on Income Tax has also delivered much needed respite to investors. Fearing these taxes, Indian markets closed in red in some days prior to Budget 2021.&nbsp;

Sensex had lost over 3,500 points in the six sessions before the Budget. Also, proposal for privatization of 2 nationalized banks has put to rest speculations regarding government going slow on disinvestment process. This coupled with announcement on LIC's IPO gave a message to investors that government's financial priorities are clear.

Indian markets are also in line with the rally in major global markets that started at the beginning of this week with major corporate earnings meeting expectations.&nbsp;

So the 5 per cent gain in Sensex on the Budget day showed that markets have taken the annual exercise as a reform and growth-orientation Budget, supportive of the right economic policies in the country and will bring economic change in India that came after the 1991 Budget that supported liberalization.&nbsp;

Analysts also expect these gains in the markets to continue. However another factor that will impact markets this week will be the central bank RBI's decision on interest rates in its monetary policy meet on February 5.

The bulls are back once again in the Indian stock markets. If there were any fears among investors before the Budget 2021, they have been clearly put to rest by India's finance minister Nirmala Sitharaman in her speech on February 1.

The bulls are back once again in the Indian stock markets. If there were any fears among investors before the Budget 2021, they have been clearly put to rest by India's finance minister Nirmala Sitharaman in her speech on February 1. Clearly, absence of any 'Robinhood' tax has cheered the investor community and the unbridled growth in the markets has resumed. Today also both major indices in India Sensex and Nifty closed at record highs of 50255.75 and 14789.45 respectively, extending their post-budget gains for the third straight day. Why are Indian stock markets at record high? Budget proposals and the absence of any negative news globally have given another booster dose of optimism to investors. While the Budget proposal to raise foreign direct investment (FDI) limit in insurance from 49 per cent to 74 per cent has led to rise in prices of insurance stocks today, scrappage policy for vehicles is leading to rise in prices of auto stocks as well. Absence of the much-feared COVID cess and any surcharge on Income Tax has also delivered much needed respite to investors. Fearing these taxes, Indian markets closed in red in some days prior to Budget 2021. Sensex had lost over 3,500 points in the six sessions before the Budget. Also, proposal for privatization of 2 nationalized banks has put to rest speculations regarding government going slow on disinvestment process. This coupled with announcement on LIC's IPO gave a message to investors that government's financial priorities are clear. Indian markets are also in line with the rally in major global markets that started at the beginning of this week with major corporate earnings meeting expectations. So the 5 per cent gain in Sensex on the Budget day showed that markets have taken the annual exercise as a reform and growth-orientation Budget, supportive of the right economic policies in the country and will bring economic change in India that came after the 1991 Budget that supported liberalization. Analysts also expect these gains in the markets to continue. However another factor that will impact markets this week will be the central bank RBI's decision on interest rates in its monetary policy meet on February 5.

Budget rejuvenates the bulls, stock markets at record high

Domestic stock market indices, Sensex and Nifty ended at record high levels Wednesday extending gains for the third straight session led by gains in banking, metal and pharma indices.&nbsp;

Broader markets also surged for the day with the midcap and smallcap indices up over 1 percent each.&nbsp;

At close, the Sensex was up 458.03 points or 0.92% at 50,255.75, while the Nifty rose 142.10 points or 0.97% to 14,790.

IndusInd Bank, Power Grid Corp, Sun Pharma, Dr Reddy’s Labs and Divis Lab were among major gainers on the Nifty, while losers were Shree Cements, UltraTech Cement, Maruti Suzuki, ITC and UPL.

Global markets marched higher following renewed hopes for the passage of the USD 1.9 trillion COVID-19 relief bill in the US.

In rest of Asia, bourses in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai was in the red.

Stock exchanges in Europe were also trading on a positive note in early deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.36 per cent higher at USD 58.01 per barrel.

The Indian rupee ended on a flat note and settled 1 paisa higher at 72.95 (provisional) against the US dollar.

Stepping up their purchase of domestic shares, foreign institutional investors were net buyers to the tune of Rs 6,181.56 crore on Tuesday, according to exchange data.&nbsp;

(With inputs from agencies)

Domestic stock market indices, Sensex and Nifty ended at record high levels Wednesday extending gains for the third straight session led by gains in banking, metal and pharma indices.

Domestic stock market indices, Sensex and Nifty ended at record high levels Wednesday extending gains for the third straight session led by gains in banking, metal and pharma indices. Broader markets also surged for the day with the midcap and smallcap indices up over 1 percent each. At close, the Sensex was up 458.03 points or 0.92% at 50,255.75, while the Nifty rose 142.10 points or 0.97% to 14,790. IndusInd Bank, Power Grid Corp, Sun Pharma, Dr Reddy’s Labs and Divis Lab were among major gainers on the Nifty, while losers were Shree Cements, UltraTech Cement, Maruti Suzuki, ITC and UPL. Global markets marched higher following renewed hopes for the passage of the USD 1.9 trillion COVID-19 relief bill in the US. In rest of Asia, bourses in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai was in the red. Stock exchanges in Europe were also trading on a positive note in early deals. Meanwhile, the global oil benchmark Brent crude was trading 0.36 per cent higher at USD 58.01 per barrel. The Indian rupee ended on a flat note and settled 1 paisa higher at 72.95 (provisional) against the US dollar. Stepping up their purchase of domestic shares, foreign institutional investors were net buyers to the tune of Rs 6,181.56 crore on Tuesday, according to exchange data. (With inputs from agencies)

Sensex closes above 50,000, Nifty near 14,800

It is Occupy Wall Street, the sequel. It is elements of the Tea Party, again. It is Bernie bros and MAGA maniacs.

The hordes of young traders who this week fueled a spectacular surge in the value of video game retailer GameStop may lack a unified political ideology. But they have forced a reckoning on Wall Street and caught the attention of leaders in Washington who recognize a populist uprising when they see one.

Wall Street has long been an easy villain for many on Capitol Hill. But the rush to side with speculative traders by both Democrats and Republicans reflects the broad recognition of the impulses that have driven U.S. politics in recent years, fueling both the ascension of President Donald Trump and a liberal wing of the Democratic Party that grew stronger in opposition.

Also read|&nbsp;<a href="https://www.wionews.com/world/trading-curbs-reverse-gamestop-rally-angering-upstart-traders-360011">Trading curbs reverse GameStop rally, angering upstart traders</a>

The decision by online brokerage app Robinhood to impose trading limits as hedge funds were hammered by the wild market fluctuation has prompted the rarest of all political occurrences: bipartisan agreement. Lawmakers from across the political spectrum condemned the move and called for hearings into the decision — among them Sen. Ted Cruz, R-Texas, a staunch conservative; and Rep. Alexandria Ocasio-Cortez, D-N.Y., a standard-bearer of the left. The conservative attorney general of Texas and his progressive counterpart in New York have both initiated inquiries into Robinhood.

“For years, the stock market has been less and less about the value of business and more and more like casino gambling,” said Sen. Elizabeth Warren, D-Mass., who called for increased regulation of Wall Street shortly after the market frenzy over GameStop began this week.

“GameStop is just the latest and most visible example,” she said in an interview Friday. “We need to take this not as a one-off problem but as a systemic problem that requires systemic regulation and enforcement.”

While President Joe Biden defeated Trump with a centrist message of restoring political norms, the trading frenzy this week provided a potent reminder of the strong undercurrent of grievance and institutional distrust in the country. Many believe that will only intensify as the nation wrestles with the economic fallout from a devastating pandemic.

Also read|&nbsp;<a href="https://www.wionews.com/business-economy/how-gamestop-stocks-surge-exposed-wall-street-elites-360171">How GameStop stocks surge exposed Wall Street elites</a>

As Wall Street booms, unemployment has hit record highs, with nearly 10 million fewer people holding jobs than at the beginning of last year — a situation that reminds some former officials of the 2008 economic crisis that led to both the Occupy Wall Street and the Tea Party movements.

“It’s not about Republicans and Democrats,” said Newt Gingrich, the former Republican House Speaker and an ally of Trump. “It’s lots and lots of normal, everyday people who began to figure out they really got ripped off for the last year just like they got ripped off in 2008 and 2009. What you’re seeing is an almost spontaneous cultural reaction in which the little guys and gals are getting together and going after the bigs, so the bigs are having to rig the game in order to survive.”

The reality is more complicated. There is little sign of any central political mission shared by the millions of amateur traders who combined to squeeze at least two hedge funds that bet against the stocks of companies like GameStop and movie chain AMC. One of the originators of the scheme is far from a “little guy,” with the financial resources to have purportedly transformed an initial investment of $53,000 into $48 million. Overall, only about half the country owns any stock at all.

On Reddit, the online message board that helped fuel the surge, few of the mostly young participants frame their flood of investments in clearly partisan terms. Yet many write of being driven by anger over the 2008 financial bailouts that kept the big banks afloat while 10 million Americans lost their homes.

“When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year,” one person identified as ssauronn posted on Reddit. “Your ilk were bailed out and rewarded for terrible and illegal financial decisions that negatively changed the lives of millions.”

Other posters responded with their own stories of economic struggle and political rage.

Also read|&nbsp;<a href="https://www.wionews.com/technology/gamestop-prompts-surge-in-hyper-rally-after-elon-musks-tweet-359791">GameStop prompts surge in hyper-rally after Elon Musk's tweet</a>

“Forget republican/democrat, left/right... the bankers play both sides and have almost always come out on top,” a poster identified as ChrisFrettJunior wrote, after recounting watching his parents struggle through the 2008 recession.

The decision to bail out the biggest banks and also decline to prosecute any of their top executives led to much of the populist fervor that has driven U.S. politics in the past decade. The Tea Party surged to political prominence in the wake of the $700 billion financial rescue package that passed in 2008, eventually becoming a force that defeated both moderate Republicans and Democrats.

After Republicans won control of the House in 2010, Democrats began to face their own backlash, beginning with Occupy Wall Street — a loose coalition of largely liberal protesters who fueled a national conversation about economic inequality.

These days, political strategists warn, hedge funds, private equity investors and bankers are unlikely to find the same kind of deep support in Washington. Anger over the bailouts fueled the campaigns of political outsiders, creating a Congress that is less receptive to the pleas of Wall Street and far more eager to make use of upheaval to advance their agendas.

“There’s a ton of political currency in holding hedge funds’ feet to the fire from Democrats and Republicans,” said Josh Holmes, a Republican strategist and longtime adviser to Sen. Mitch McConnell, R-Ky. “If you’re sitting on Wall Street looking at this, dismissing people as folks who don’t understand the way that the markets work, I think you’re going to be in a lot of trouble.”

For Republicans, the market upheaval was a referendum on elitism. Democrats saw pure corporate greed and the need for greater regulation.

“Big Hedge, with outposts in South Hedge-i-stan (Wall Street) and North Hedge-i-stan (Greenwich, CT), has made trillions shorting great American companies facing a rough patch,” said Rep. Jeff Fortenberry, R-Neb. “Now they are getting a comeuppance from flash mobs of day traders and are paying dearly.”

Most of the ire this week was directed at Robinhood, a brokerage app catering to younger investors, which suddenly limited trading in GameStop, AMC and other stocks. Lawmakers argued that the app was protecting hedge funds and other big investors over retail investors. Robinhood said the additional restrictions were necessary to comply with government financial requirements.

Yet even centrists like Sen. Pat Toomey, R-Pa., who is poised to become the top Republican on the Senate Banking Committee, expressed concerns about the lack of transparency in the online company’s decision-making.

“I find it disturbing when retail investors who are simply seeking to buy a stock are frozen out of the market,” Toomey said in a statement. “Retail investors should be free to purchase even highly speculative stocks, just as hedge funds should be free to short them.”

Although politicians from both sides joined calls for greater scrutiny, it was hardly a kumbaya moment for the two parties.

After Cruz tweeted that he agreed with Ocasio-Cortez’s call for a probe into Robinhood’s action, she quickly disavowed any support from Cruz, who was a prominent backer of Trump’s baseless claims of election fraud.

“I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out,” she responded. “Happy to work w/ almost any other GOP that aren’t trying to get me killed. In the meantime if you want to help, you can resign.”

Cruz condemned her response as “partisan anger” that’s “not healthy for our country,” drawing another response from Ocasio-Cortez, while his allies in the House called for an apology.

The uproar over GameStop and Robinhood comes at a challenging time for the Biden administration, which took office promising to restore a sense of calm to the country. The Senate Banking Committee has yet to schedule a hearing to confirm Gary Gensler, Biden’s pick to lead the Securities and Exchange Commission, leaving the agency with an acting chair for the indefinite future. On Friday the White House press secretary, Jen Psaki, deferred questions on the issue.

“It’s a good reminder, though, that the stock market isn’t the only measure of the health of our economy,” she said, an apparent reference to Trump’s persistent fixation on stock prices during his tenure. Biden has not yet commented on the issue.

Rep. Ro Khanna, D-Calif., a progressive who represents a district that includes Silicon Valley, said this week’s events should alert lawmakers to the need to tighten financial regulations and increase transparency and equity.

He said the wide range of Republicans and Democrats who have spoken out are a reflection of “a real populist anger in this country.”

“Some people go get fancy degrees, know the right people and spend all day in front of their computers short selling, Khanna said. “And it’s a form of manipulation that has hurt our country. That has enriched the few at the expense of many Americans.”

Although many Americans own no stock at all, the sense that Wall Street has gamed a rigged system cuts across demographic barriers, he argued.

“I think this has been bubbling up since the Wall Street crash of 2008,” Khanna said. “And it’s coming to a boiling point.”

It is Occupy Wall Street, the sequel. It is elements of the Tea Party, again. It is Bernie bros and MAGA maniacs. The hordes of young traders who this week fueled a spectacular surge in the value of video game retailer GameStop may lack a unified political ideology.

It is Occupy Wall Street, the sequel. It is elements of the Tea Party, again. It is Bernie bros and MAGA maniacs. The hordes of young traders who this week fueled a spectacular surge in the value of video game retailer GameStop may lack a unified political ideology. But they have forced a reckoning on Wall Street and caught the attention of leaders in Washington who recognize a populist uprising when they see one. Wall Street has long been an easy villain for many on Capitol Hill. But the rush to side with speculative traders by both Democrats and Republicans reflects the broad recognition of the impulses that have driven U.S. politics in recent years, fueling both the ascension of President Donald Trump and a liberal wing of the Democratic Party that grew stronger in opposition. Also read| Trading curbs reverse GameStop rally, angering upstart traders The decision by online brokerage app Robinhood to impose trading limits as hedge funds were hammered by the wild market fluctuation has prompted the rarest of all political occurrences: bipartisan agreement. Lawmakers from across the political spectrum condemned the move and called for hearings into the decision — among them Sen. Ted Cruz, R-Texas, a staunch conservative; and Rep. Alexandria Ocasio-Cortez, D-N.Y., a standard-bearer of the left. The conservative attorney general of Texas and his progressive counterpart in New York have both initiated inquiries into Robinhood. “For years, the stock market has been less and less about the value of business and more and more like casino gambling,” said Sen. Elizabeth Warren, D-Mass., who called for increased regulation of Wall Street shortly after the market frenzy over GameStop began this week. “GameStop is just the latest and most visible example,” she said in an interview Friday. “We need to take this not as a one-off problem but as a systemic problem that requires systemic regulation and enforcement.” While President Joe Biden defeated Trump with a centrist message of restoring political norms, the trading frenzy this week provided a potent reminder of the strong undercurrent of grievance and institutional distrust in the country. Many believe that will only intensify as the nation wrestles with the economic fallout from a devastating pandemic. Also read| How GameStop stocks surge exposed Wall Street elites As Wall Street booms, unemployment has hit record highs, with nearly 10 million fewer people holding jobs than at the beginning of last year — a situation that reminds some former officials of the 2008 economic crisis that led to both the Occupy Wall Street and the Tea Party movements. “It’s not about Republicans and Democrats,” said Newt Gingrich, the former Republican House Speaker and an ally of Trump. “It’s lots and lots of normal, everyday people who began to figure out they really got ripped off for the last year just like they got ripped off in 2008 and 2009. What you’re seeing is an almost spontaneous cultural reaction in which the little guys and gals are getting together and going after the bigs, so the bigs are having to rig the game in order to survive.” The reality is more complicated. There is little sign of any central political mission shared by the millions of amateur traders who combined to squeeze at least two hedge funds that bet against the stocks of companies like GameStop and movie chain AMC. One of the originators of the scheme is far from a “little guy,” with the financial resources to have purportedly transformed an initial investment of $53,000 into $48 million. Overall, only about half the country owns any stock at all. On Reddit, the online message board that helped fuel the surge, few of the mostly young participants frame their flood of investments in clearly partisan terms. Yet many write of being driven by anger over the 2008 financial bailouts that kept the big banks afloat while 10 million Americans lost their homes. “When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year,” one person identified as ssauronn posted on Reddit. “Your ilk were bailed out and rewarded for terrible and illegal financial decisions that negatively changed the lives of millions.” Other posters responded with their own stories of economic struggle and political rage. Also read| GameStop prompts surge in hyper-rally after Elon Musk's tweet “Forget republican/democrat, left/right... the bankers play both sides and have almost always come out on top,” a poster identified as ChrisFrettJunior wrote, after recounting watching his parents struggle through the 2008 recession. The decision to bail out the biggest banks and also decline to prosecute any of their top executives led to much of the populist fervor that has driven U.S. politics in the past decade. The Tea Party surged to political prominence in the wake of the $700 billion financial rescue package that passed in 2008, eventually becoming a force that defeated both moderate Republicans and Democrats. After Republicans won control of the House in 2010, Democrats began to face their own backlash, beginning with Occupy Wall Street — a loose coalition of largely liberal protesters who fueled a national conversation about economic inequality. These days, political strategists warn, hedge funds, private equity investors and bankers are unlikely to find the same kind of deep support in Washington. Anger over the bailouts fueled the campaigns of political outsiders, creating a Congress that is less receptive to the pleas of Wall Street and far more eager to make use of upheaval to advance their agendas. “There’s a ton of political currency in holding hedge funds’ feet to the fire from Democrats and Republicans,” said Josh Holmes, a Republican strategist and longtime adviser to Sen. Mitch McConnell, R-Ky. “If you’re sitting on Wall Street looking at this, dismissing people as folks who don’t understand the way that the markets work, I think you’re going to be in a lot of trouble.” For Republicans, the market upheaval was a referendum on elitism. Democrats saw pure corporate greed and the need for greater regulation. “Big Hedge, with outposts in South Hedge-i-stan (Wall Street) and North Hedge-i-stan (Greenwich, CT), has made trillions shorting great American companies facing a rough patch,” said Rep. Jeff Fortenberry, R-Neb. “Now they are getting a comeuppance from flash mobs of day traders and are paying dearly.” Most of the ire this week was directed at Robinhood, a brokerage app catering to younger investors, which suddenly limited trading in GameStop, AMC and other stocks. Lawmakers argued that the app was protecting hedge funds and other big investors over retail investors. Robinhood said the additional restrictions were necessary to comply with government financial requirements. Yet even centrists like Sen. Pat Toomey, R-Pa., who is poised to become the top Republican on the Senate Banking Committee, expressed concerns about the lack of transparency in the online company’s decision-making. “I find it disturbing when retail investors who are simply seeking to buy a stock are frozen out of the market,” Toomey said in a statement. “Retail investors should be free to purchase even highly speculative stocks, just as hedge funds should be free to short them.” Although politicians from both sides joined calls for greater scrutiny, it was hardly a kumbaya moment for the two parties. After Cruz tweeted that he agreed with Ocasio-Cortez’s call for a probe into Robinhood’s action, she quickly disavowed any support from Cruz, who was a prominent backer of Trump’s baseless claims of election fraud. “I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out,” she responded. “Happy to work w/ almost any other GOP that aren’t trying to get me killed. In the meantime if you want to help, you can resign.” Cruz condemned her response as “partisan anger” that’s “not healthy for our country,” drawing another response from Ocasio-Cortez, while his allies in the House called for an apology. The uproar over GameStop and Robinhood comes at a challenging time for the Biden administration, which took office promising to restore a sense of calm to the country. The Senate Banking Committee has yet to schedule a hearing to confirm Gary Gensler, Biden’s pick to lead the Securities and Exchange Commission, leaving the agency with an acting chair for the indefinite future. On Friday the White House press secretary, Jen Psaki, deferred questions on the issue. “It’s a good reminder, though, that the stock market isn’t the only measure of the health of our economy,” she said, an apparent reference to Trump’s persistent fixation on stock prices during his tenure. Biden has not yet commented on the issue. Rep. Ro Khanna, D-Calif., a progressive who represents a district that includes Silicon Valley, said this week’s events should alert lawmakers to the need to tighten financial regulations and increase transparency and equity. He said the wide range of Republicans and Democrats who have spoken out are a reflection of “a real populist anger in this country.” “Some people go get fancy degrees, know the right people and spend all day in front of their computers short selling, Khanna said. “And it’s a form of manipulation that has hurt our country. That has enriched the few at the expense of many Americans.” Although many Americans own no stock at all, the sense that Wall Street has gamed a rigged system cuts across demographic barriers, he argued. “I think this has been bubbling up since the Wall Street crash of 2008,” Khanna said. “And it’s coming to a boiling point.”

Lawmakers look at GameStop furor and see a populist issue to seize

The domestic stock market indices ended Friday's session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red.

The BSE Sensex, which seemed well on course to reach the 50,000 mark, fell over 500 points during the day.

Sensex closed at 49,034.67, lower by 549.49 points, or 1.11 per cent, from its previous close of 49,584.16. It had opened at 49,656.71 and recorded an intra-day high of 49,656.71 and a low of 48,795.79 points.

The Nifty50 on the National Stock Exchange closed at 14,433.70, lower by 161.90 points, or 1.11 per cent, from its previous close.

Global markets

Prospects of tighter lockdowns in Germany and France as well as new Covid-19 restrictions in China cut into optimism about a global economic recovery. The pan-European STOXX 600 index fell 0.5 per cent.&nbsp;

The German DAX was down 0.5 per cent and France's CAC 40 fell 0.6 per cent. UK's FTSE 100 also declined 0.6 per cent despite data showing that Britain’s economy recorded a smaller-than-expected contraction in November.

Meanwhile, Asian stocks had initially firmed on Thursday on a report that the stimulus package could be as big as $2 trillion, much more than markets were expecting. However, shares later erased gains with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.59 per cent.

Chinese blue-chips shed 0.97 per cent amid worries over rising COVID-19 cases in China, and after the Chinese central bank drained liquidity from the country's banking system, suggesting a tightening bias in monetary policy.

(With inputs from Reuters)

The domestic stock market indices ended Friday's session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red.

The domestic stock market indices ended Friday's session lower, down over 1 per cent, triggered by an across-the-board sell-off that saw all the Nifty sectoral indices ending the session in the red. The BSE Sensex, which seemed well on course to reach the 50,000 mark, fell over 500 points during the day. Sensex closed at 49,034.67, lower by 549.49 points, or 1.11 per cent, from its previous close of 49,584.16. It had opened at 49,656.71 and recorded an intra-day high of 49,656.71 and a low of 48,795.79 points. The Nifty50 on the National Stock Exchange closed at 14,433.70, lower by 161.90 points, or 1.11 per cent, from its previous close. Global markets Prospects of tighter lockdowns in Germany and France as well as new Covid-19 restrictions in China cut into optimism about a global economic recovery. The pan-European STOXX 600 index fell 0.5 per cent. The German DAX was down 0.5 per cent and France's CAC 40 fell 0.6 per cent. UK's FTSE 100 also declined 0.6 per cent despite data showing that Britain’s economy recorded a smaller-than-expected contraction in November. Meanwhile, Asian stocks had initially firmed on Thursday on a report that the stimulus package could be as big as $2 trillion, much more than markets were expecting. However, shares later erased gains with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.59 per cent. Chinese blue-chips shed 0.97 per cent amid worries over rising COVID-19 cases in China, and after the Chinese central bank drained liquidity from the country's banking system, suggesting a tightening bias in monetary policy. (With inputs from Reuters)

Sensex ends 549 points lower, as global mood changes confidence 

Domestic Stock Markets saw a volatile trading session on Wednesday with Sensex and Nifty setting fresh highs and then erasing them, only to close flat.

At close, the S&amp;P BSE Sensex was at 49,492 levels, down 25 points or 0.05 per cent. Individually, M&amp;M jumped nearly 6 per cent on the BSE today and re-entered the Rs 1-trillion m-cap club. At close, its market cap stood at Rs 1.02 trillion on the BSE.

The Nifty held the 14,550-mark and closed at 14,565 level, up 1.4 points or 0.1 per cent.

Global markets

Asian stocks rose on Wednesday, tracking modest Wall Street gains, as expectations that a vaccine will eventually win the battle against the coronavirus fuelled recovery hopes, while tight supply expectations pushed oil prices to a one-year high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.61 per cent, while Japan's Nikkei 225 ended 1.04 per cent higher. South Korea's KOSPI gained 0.7 per cent, and Australia's S&amp;P/ASX 200 reversed losses and added 0.11 per cent at close. China's Shanghai Composite, however, ended 0.27 per cent down.

In Europe, stocks were little changed on Wednesday as a profit warning from Danish wind farm developer Orsted hit utilities, while French grocer Carrefour jumped following merger talks. the pan-European STOXX 600 index rose just 0.1 per cent, as utilities were a drag after Orsted slumped 7.5 per cent on warning a return to more normal wind speeds this year would hit operating earnings.

The German DAX remained muted as Health Minister Jens Spahn said the country will not be able to lift all restrictions imposed to curb the spread of the coronavirus at the beginning of February.

(With inputs from Reuters)

Domestic Stock Markets saw a volatile trading session on Wednesday with Sensex and Nifty setting fresh highs and then erasing them, only to close flat. At close, the S&P BSE Sensex was at 49,492 levels, down 25 points or 0.

Domestic Stock Markets saw a volatile trading session on Wednesday with Sensex and Nifty setting fresh highs and then erasing them, only to close flat. At close, the S&P BSE Sensex was at 49,492 levels, down 25 points or 0.05 per cent. Individually, M&M jumped nearly 6 per cent on the BSE today and re-entered the Rs 1-trillion m-cap club. At close, its market cap stood at Rs 1.02 trillion on the BSE. The Nifty held the 14,550-mark and closed at 14,565 level, up 1.4 points or 0.1 per cent. Global markets Asian stocks rose on Wednesday, tracking modest Wall Street gains, as expectations that a vaccine will eventually win the battle against the coronavirus fuelled recovery hopes, while tight supply expectations pushed oil prices to a one-year high. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.61 per cent, while Japan's Nikkei 225 ended 1.04 per cent higher. South Korea's KOSPI gained 0.7 per cent, and Australia's S&P/ASX 200 reversed losses and added 0.11 per cent at close. China's Shanghai Composite, however, ended 0.27 per cent down. In Europe, stocks were little changed on Wednesday as a profit warning from Danish wind farm developer Orsted hit utilities, while French grocer Carrefour jumped following merger talks. the pan-European STOXX 600 index rose just 0.1 per cent, as utilities were a drag after Orsted slumped 7.5 per cent on warning a return to more normal wind speeds this year would hit operating earnings. The German DAX remained muted as Health Minister Jens Spahn said the country will not be able to lift all restrictions imposed to curb the spread of the coronavirus at the beginning of February. (With inputs from Reuters)

Sensex, Nifty end flat after volatile trading session

Domestic equity benchmark indices surged to new peaks as sentiment was boosted by a positive start to the quarterly earnings season and the commencement of vaccinations in the nation this week.

Frontline Sensex hit a record peak of 49,304 in the intra-day deals today before settling 486.8 points, or 1 per cent, higher at 49,269.32 levels. On the NSE, the Nifty50 ended at record closing peak of 14,484.75 levels, adding 137.5 points or 0.96 per cent today. Earlier today, the index touched lifetime high of 14,498.&nbsp;

Meanwhile, the rupee depreciated by 16 paise to close at 73.40 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.

At the interbank forex market, the domestic unit opened at 73.47 against the US dollar and witnessed an intra-day high of 73.37 and a low of 73.50.

The local unit finally settled at 73.40, registering a fall of 16 paise over its previous close.

Global markets

European stocks slipped from over 10-month highs on Monday as investors booked profits after a strong week, while surging coronavirus cases across the continent and mainland China dragged down energy and mining stocks.

The pan-European STOXX 600 index fell 0.1 per cent, with Germany's DAX index shedding 0.4 per cent and France's CAC 40 down 0.2 per cent.

(With inputs from Reuters)

Domestic equity benchmark indices surged to new peaks as sentiment was boosted by a positive start to the quarterly earnings season and the commencement of vaccinations in the nation this week.

Domestic equity benchmark indices surged to new peaks as sentiment was boosted by a positive start to the quarterly earnings season and the commencement of vaccinations in the nation this week. Frontline Sensex hit a record peak of 49,304 in the intra-day deals today before settling 486.8 points, or 1 per cent, higher at 49,269.32 levels. On the NSE, the Nifty50 ended at record closing peak of 14,484.75 levels, adding 137.5 points or 0.96 per cent today. Earlier today, the index touched lifetime high of 14,498. Meanwhile, the rupee depreciated by 16 paise to close at 73.40 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas. At the interbank forex market, the domestic unit opened at 73.47 against the US dollar and witnessed an intra-day high of 73.37 and a low of 73.50. The local unit finally settled at 73.40, registering a fall of 16 paise over its previous close. Global markets European stocks slipped from over 10-month highs on Monday as investors booked profits after a strong week, while surging coronavirus cases across the continent and mainland China dragged down energy and mining stocks. The pan-European STOXX 600 index fell 0.1 per cent, with Germany's DAX index shedding 0.4 per cent and France's CAC 40 down 0.2 per cent. (With inputs from Reuters)

Sensex gains 486 points, ends above 49,250, Nifty tops 14,450

Domestic stock market indices, Sensex and Nifty rallied more than 1 percent to end at record high levels on Friday.&nbsp;

The Sensex surged 689.19 points or, 1.43 percent, to end at 48,782.51, while the Nifty closed at 14,347.25, up 209.90 points, or 1.48 percent.&nbsp;

In the mid-cap space, S&amp;P BSE MidCap index, though underperformed the frontline index, settled 1 per cent higher at 19,138.7 level after hitting a record peak of 19,161 earlier in the day. The S&amp;P BSE SmallCap index, on the other hand, ended at 18,908.59 levels, up 0.72 per cent.

Global markets

European stocks rose on Friday, with Germany’s DAX hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers.

The pan-European STOXX 600 index rose 0.7% and was on track for a more than 3% weekly gain, with hopes of more US stimulus boosting economically sensitive sectors such as miners, oil &amp; gas and banks. Germany’s DAX index jumped 0.8% after data showed both industrial output and exports rose more than expected in November.

(With inputs from Reuters)

Domestic stock market indices, Sensex and Nifty rallied more than 1 percent to end at record high levels on Friday. The Sensex surged 689.19 points or, 1.43 percent, to end at 48,782.

Domestic stock market indices, Sensex and Nifty rallied more than 1 percent to end at record high levels on Friday. The Sensex surged 689.19 points or, 1.43 percent, to end at 48,782.51, while the Nifty closed at 14,347.25, up 209.90 points, or 1.48 percent. In the mid-cap space, S&P BSE MidCap index, though underperformed the frontline index, settled 1 per cent higher at 19,138.7 level after hitting a record peak of 19,161 earlier in the day. The S&P BSE SmallCap index, on the other hand, ended at 18,908.59 levels, up 0.72 per cent. Global markets European stocks rose on Friday, with Germany’s DAX hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers. The pan-European STOXX 600 index rose 0.7% and was on track for a more than 3% weekly gain, with hopes of more US stimulus boosting economically sensitive sectors such as miners, oil & gas and banks. Germany’s DAX index jumped 0.8% after data showed both industrial output and exports rose more than expected in November. (With inputs from Reuters)

Sensex jumps 689 points, Nifty settles above 14,300

The frontline S&amp;P BSE Sensex ended the choppy session near record-high levels on Tuesday.

BSE Sensex closed at 48,437.78, up 261 points, or 0.54 per cent while the 50-stock NSE Nifty ended at 14,199. Axis Bank shares jumped 6.48% to end as the top Sensex gainer, followed by HDFC, IndusInd Bank, and TCS.&nbsp;

Broader markets outperformed benchmark indices once again. Among Nifty sectoral indices, only Nifty Auto, Nifty Metal and Nifty Realty ended with losses. &nbsp;&nbsp;

Global markets

Asian shares edged lower on Tuesday amid uncertainty about Senate runoffs in Georgia. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.05 per cent, pulling back from a record high. Australian stocks fell 0.26 per cent. Chinese shares erased early losses and rose 0.52 per cent.

Japanese shares lost 0.34 per cent after a spokesman said the government will reach a decision on a state of emergency for Tokyo and surrounding cities on Thursday to curb coronavirus infections.&nbsp;

In Europe, stocks slipped as losses in defensive sectors offset gains in oil and retail stocks. The pan-European STOXX 600 index was down 0.2 per cent.

(With inputs from Reuters)

The frontline S&P BSE Sensex ended the choppy session near record-high levels on Tuesday. BSE Sensex closed at 48,437.78, up 261 points, or 0.54 per cent while the 50-stock NSE Nifty ended at 14,199.

The frontline S&P BSE Sensex ended the choppy session near record-high levels on Tuesday. BSE Sensex closed at 48,437.78, up 261 points, or 0.54 per cent while the 50-stock NSE Nifty ended at 14,199. Axis Bank shares jumped 6.48% to end as the top Sensex gainer, followed by HDFC, IndusInd Bank, and TCS. Broader markets outperformed benchmark indices once again. Among Nifty sectoral indices, only Nifty Auto, Nifty Metal and Nifty Realty ended with losses. Global markets Asian shares edged lower on Tuesday amid uncertainty about Senate runoffs in Georgia. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.05 per cent, pulling back from a record high. Australian stocks fell 0.26 per cent. Chinese shares erased early losses and rose 0.52 per cent. Japanese shares lost 0.34 per cent after a spokesman said the government will reach a decision on a state of emergency for Tokyo and surrounding cities on Thursday to curb coronavirus infections. In Europe, stocks slipped as losses in defensive sectors offset gains in oil and retail stocks. The pan-European STOXX 600 index was down 0.2 per cent. (With inputs from Reuters)

Sensex closes 261 points higher, Nifty just shy of 14,200

Domestic stock market indices, Sensex and Nifty traded higher Friday led by gains in banks and IT stocks.&nbsp;

Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 trading 0.7 per cent higher each.&nbsp;

The S&amp;P BSE Sensex was up 200 points at 47,950 levels and testing the 48,000-mark. Meanwhile, the Nifty50 index was trading above the 14,000-mark.

Sensex opened at 47,785.28 and has so far touched an intra-day high of 47,946.66 and a low of 47,771.15 points.

The top gainers on the Sensex so far were Mahindra &amp; Mahindra, TCS and UltraTech Cement, while the major losers were Sun Pharmaceutical, ICICI Bank and Tata Steel.

(With inputs from agencies)

Domestic stock market indices, Sensex and Nifty traded higher Friday led by gains in banks and IT stocks. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 trading 0.

Domestic stock market indices, Sensex and Nifty traded higher Friday led by gains in banks and IT stocks. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 trading 0.7 per cent higher each. The S&P BSE Sensex was up 200 points at 47,950 levels and testing the 48,000-mark. Meanwhile, the Nifty50 index was trading above the 14,000-mark. Sensex opened at 47,785.28 and has so far touched an intra-day high of 47,946.66 and a low of 47,771.15 points. The top gainers on the Sensex so far were Mahindra & Mahindra, TCS and UltraTech Cement, while the major losers were Sun Pharmaceutical, ICICI Bank and Tata Steel. (With inputs from agencies)

Sensex trades higher, Nifty above 14,000; financials, IT stocks lead

Stock market indices witnessed a sharp recovery to end 1 per cent higher on Tuesday led by robust buying in IT and pharma stocks.&nbsp;

The benchmark S&amp;P BSE Sensex rebounded 895 points from day's low and settled 453 points or 0.99 per cent, higher at 46,007 levels on the BSE. The index had earlier hit an intra-day low of 45,112.&nbsp;

HCL Tech, Tech Mahindra, Infosys, and PowerGrid were the top gainers on the 30-share index while HDFC, Bajaj Finance, and IndusInd Bank ended the day as top laggards.

The broader Nifty50, on the other hand, clawed back above the 13,400-mark and closed at 13,466 level, up 138 points or 1.03 per cent. From the day's low of 13,192, the index settled 274 points higher.

Global markets

European stocks steadied on Tuesday, after heavy losses a day earlier sparked by fears over a highly infectious new strain of Covid-19.

The broad Euro STOXX 600 gained 1.2%, on course for its biggest one-day jump in over five weeks. German and French indexes both added 1.3%. London’s blue chips turned positive, too, recovering early losses.

Earlier, MSCI's gauge of Asia Pacific stocks outside Japan fell 0.8%, dragged down by Hong Kong’s Hang Seng Index and China's benchmark CSI300 Index.

(With inputs from Reuters)

Stock market indices witnessed a sharp recovery to end 1 per cent higher on Tuesday led by robust buying in IT and pharma stocks. The benchmark S&P BSE Sensex rebounded 895 points from day's low and settled 453 points or 0.

Stock market indices witnessed a sharp recovery to end 1 per cent higher on Tuesday led by robust buying in IT and pharma stocks. The benchmark S&P BSE Sensex rebounded 895 points from day's low and settled 453 points or 0.99 per cent, higher at 46,007 levels on the BSE. The index had earlier hit an intra-day low of 45,112. HCL Tech, Tech Mahindra, Infosys, and PowerGrid were the top gainers on the 30-share index while HDFC, Bajaj Finance, and IndusInd Bank ended the day as top laggards. The broader Nifty50, on the other hand, clawed back above the 13,400-mark and closed at 13,466 level, up 138 points or 1.03 per cent. From the day's low of 13,192, the index settled 274 points higher. Global markets European stocks steadied on Tuesday, after heavy losses a day earlier sparked by fears over a highly infectious new strain of Covid-19. The broad Euro STOXX 600 gained 1.2%, on course for its biggest one-day jump in over five weeks. German and French indexes both added 1.3%. London’s blue chips turned positive, too, recovering early losses. Earlier, MSCI's gauge of Asia Pacific stocks outside Japan fell 0.8%, dragged down by Hong Kong’s Hang Seng Index and China's benchmark CSI300 Index. (With inputs from Reuters)

Sensex reclaims 46,000, Nifty gains 1% to end above 13,450 level

Political audacity combined with a strong organisation storms straight ahead while dominating the flanks. It is the signature action of Narendra Modi, now grown familiar. It does not take anything from the style of politics and governance with its constant self-service of the last many decades.&nbsp;

The unequal Opposition, caught flat-footed, thrown out of the citadels of power, plays old drums and flutes - threats, intimidation, murders, booth-capturing, minority appeasement, arson, riots, lies, embezzlement.&nbsp;

It all worked perfectly well once, the public was none the wiser, beguiled by promises that never seemed to reach their maturity. But now there is the sullen dullness that comes with knowing one has been betrayed. It results however in arrests of the old masters under draconian laws, and attachment of their properties for recompense.

As if on another plane altogether, the Sensex, Nifty, Midcap index and even the Bank Nifty are touching new highs despite an ongoing, though reducing, economic contraction.&nbsp;

There is less panic into gold and silver. Less worry about major bank collapse. Some revival in real estate. New reform for the long-neglected farming sector. There is a great deal of infrastructure building. It is probably the principal driver of the Indian economy through the six years of the Modi administration.&nbsp;

Bold reform, obscured sometimes by strident misinformation spread by the disgraced, in the key areas of labour, land, company law, digitisation, electricity, water, social injustice has been undertaken. More and more transformation is in the offing from this determined government. Our foreign affairs and diplomacy have been completely revamped. India’s position in the world has been rebooted.

Old power brokers and middlemen, rent-seeking bureaucrats, extortionists, commission agents, benami wealth hoarders, runaways, are all under pressure. Promises made again and again in the past are being delivered upon by this government.&nbsp;

The North-East of the country has been drawn into the mainstream. Foreign investors are pouring money into the Indian bourses and into foreign direct investment (FDI). The foreign exchange reserves are at an all-time high, close to USD 500 billion. Contrast this with the near bankruptcy of 1991 before the economy was liberalised.

Now the foreign stock market players are apparently not daunted by steep stock valuations because they are optimistic about the future. It is a liquidity rush yes, but far from mindless speculation.

There is expectation of a global end to Covid with several vaccines to tame it. And a shift of economic attention away from a very badly behaved China. It has become a predatory China, under a misguided CCP, with attitudes better suited to a long-departed age of imperialism. How much time before this 1949 born Red China comes unstuck and on its way to a democracy?

India is and will continue to benefit from standing up to China. The world has taken note. Armaments, organisation and force readiness on land, sea and air, is moving fast. Border area infrastructure is being rapidly completed. If there is a future conflict there is no doubt that India will acquit itself well.&nbsp;

The BJP has recently won decisively in Bihar alongside its ally the JD(U). It is about to repeat the performance in the border state of West Bengal plagued by Islamic aggression, terrorism and infiltration. This is openly supported by the presently ruling TMC, heavily dependent on the nearly 30% Muslim population.&nbsp;

The demographics and the culture of the state have changed alarmingly, much to the quiet annoyance of the Hindu majority. West Bengal has enormous untapped economic potential. It is now firmly looking to the BJP for rescue.&nbsp; 
The chances of it coming to power in the 2021 assembly elections in the state gain ground every day. 
Those who don’t want India to prosper, love the chaos.&nbsp;

The lust to bring down the Modi government at any cost, &nbsp;in spite of it being very popular with the voting masses, is a difficult proposition. Admit it or not, all the brickbats are boomeranging.&nbsp;

There are also substantial chunks of the non-aligned Opposition who vote with and support government initiatives. In parliament, the government’s domination in both houses is now evident. The electoral juggernaut too rolls on from the grassroot elections to panchayats, blocks, districts and city municipalities, all the way through the state assemblies and on towards the national elections.

One narrative is backed by the power of the government. The other by the powerless Opposition and its camp followers determined to trash the whole place if nothing else. The powerful government refuses to retaliate with violence. The powerless Opposition tries even greater provocation.&nbsp;

This has become a familiar see-saw over the last six years, in parliament, in the TV studios, in the speech-making, on the streets. There is arson, rape, murder, false news. There is a desperate scrambling for lost electoral traction, a search for new leadership, even as vested interests refuse to let go.

It is obvious the baton has passed decisively to the BJP and its brand of nationalist, majoritarian politics. The leadership here has dedication honesty and vision. The world can see it.&nbsp;

However, those who have lost after decades in power refuse to do so. The new year 2021 is about to dawn after a most difficult 2020. It will usher in a new decade, the third of the 21st century.&nbsp;

India will prosper like never before, but it will jettison the florid code that hid under the ‘Idea of India’. That made the majority Hindu ashamed of his grand heritage.

Modi’s Atmanirbhar Bharat is not an inward-looking thing. It is about getting out of the clutches of commission agents and needless imports. It is building a strong domestic military machine for the country’s defence and export. And this government’s ‘New India’ is a very different thing from the false secularism that preceded it. There is room in it for every nationalist of every caste, creed, region and religion, but none for those who want to destroy the country.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer)

Political audacity combined with a strong organisation storms straight ahead while dominating the flanks. It is the signature action of Narendra Modi, now grown familiar.

Political audacity combined with a strong organisation storms straight ahead while dominating the flanks. It is the signature action of Narendra Modi, now grown familiar. It does not take anything from the style of politics and governance with its constant self-service of the last many decades. The unequal Opposition, caught flat-footed, thrown out of the citadels of power, plays old drums and flutes - threats, intimidation, murders, booth-capturing, minority appeasement, arson, riots, lies, embezzlement. It all worked perfectly well once, the public was none the wiser, beguiled by promises that never seemed to reach their maturity. But now there is the sullen dullness that comes with knowing one has been betrayed. It results however in arrests of the old masters under draconian laws, and attachment of their properties for recompense. As if on another plane altogether, the Sensex, Nifty, Midcap index and even the Bank Nifty are touching new highs despite an ongoing, though reducing, economic contraction. There is less panic into gold and silver. Less worry about major bank collapse. Some revival in real estate. New reform for the long-neglected farming sector. There is a great deal of infrastructure building. It is probably the principal driver of the Indian economy through the six years of the Modi administration. Bold reform, obscured sometimes by strident misinformation spread by the disgraced, in the key areas of labour, land, company law, digitisation, electricity, water, social injustice has been undertaken. More and more transformation is in the offing from this determined government. Our foreign affairs and diplomacy have been completely revamped. India’s position in the world has been rebooted. Old power brokers and middlemen, rent-seeking bureaucrats, extortionists, commission agents, benami wealth hoarders, runaways, are all under pressure. Promises made again and again in the past are being delivered upon by this government. The North-East of the country has been drawn into the mainstream. Foreign investors are pouring money into the Indian bourses and into foreign direct investment (FDI). The foreign exchange reserves are at an all-time high, close to USD 500 billion. Contrast this with the near bankruptcy of 1991 before the economy was liberalised. Now the foreign stock market players are apparently not daunted by steep stock valuations because they are optimistic about the future. It is a liquidity rush yes, but far from mindless speculation. There is expectation of a global end to Covid with several vaccines to tame it. And a shift of economic attention away from a very badly behaved China. It has become a predatory China, under a misguided CCP, with attitudes better suited to a long-departed age of imperialism. How much time before this 1949 born Red China comes unstuck and on its way to a democracy? India is and will continue to benefit from standing up to China. The world has taken note. Armaments, organisation and force readiness on land, sea and air, is moving fast. Border area infrastructure is being rapidly completed. If there is a future conflict there is no doubt that India will acquit itself well. The BJP has recently won decisively in Bihar alongside its ally the JD(U). It is about to repeat the performance in the border state of West Bengal plagued by Islamic aggression, terrorism and infiltration. This is openly supported by the presently ruling TMC, heavily dependent on the nearly 30% Muslim population. The demographics and the culture of the state have changed alarmingly, much to the quiet annoyance of the Hindu majority. West Bengal has enormous untapped economic potential. It is now firmly looking to the BJP for rescue. The chances of it coming to power in the 2021 assembly elections in the state gain ground every day. Those who don’t want India to prosper, love the chaos. The lust to bring down the Modi government at any cost, in spite of it being very popular with the voting masses, is a difficult proposition. Admit it or not, all the brickbats are boomeranging. There are also substantial chunks of the non-aligned Opposition who vote with and support government initiatives. In parliament, the government’s domination in both houses is now evident. The electoral juggernaut too rolls on from the grassroot elections to panchayats, blocks, districts and city municipalities, all the way through the state assemblies and on towards the national elections. One narrative is backed by the power of the government. The other by the powerless Opposition and its camp followers determined to trash the whole place if nothing else. The powerful government refuses to retaliate with violence. The powerless Opposition tries even greater provocation. This has become a familiar see-saw over the last six years, in parliament, in the TV studios, in the speech-making, on the streets. There is arson, rape, murder, false news. There is a desperate scrambling for lost electoral traction, a search for new leadership, even as vested interests refuse to let go. It is obvious the baton has passed decisively to the BJP and its brand of nationalist, majoritarian politics. The leadership here has dedication honesty and vision. The world can see it. However, those who have lost after decades in power refuse to do so. The new year 2021 is about to dawn after a most difficult 2020. It will usher in a new decade, the third of the 21st century. India will prosper like never before, but it will jettison the florid code that hid under the ‘Idea of India’. That made the majority Hindu ashamed of his grand heritage. Modi’s Atmanirbhar Bharat is not an inward-looking thing. It is about getting out of the clutches of commission agents and needless imports. It is building a strong domestic military machine for the country’s defence and export. And this government’s ‘New India’ is a very different thing from the false secularism that preceded it. There is room in it for every nationalist of every caste, creed, region and religion, but none for those who want to destroy the country. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer)

Opinion: Stock market flies banner of new India, Opposition hate rages

Sensex and Nifty opened at record highs led by IT heavyweights but soon slipped under slight pressure in Friday's early trade in their opening deals, with the Sensex hitting 47,000 level for the first time ever.

The S&amp;P BSE Sensex was down 100 points at 46,799, after hitting an intra-day high of 47,026. The broader Nifty50 index fell below the 13,750-mark. 
 
IT stocks lead the way for the gainers, with HCL Tech and Infosys (both up 2%) being the top gainers, followed by TCS and Tech Mahindra (both up 1%).

The Nifty sectoral indices were mixed, with the Nifty IT index, up 2 per cent, leading the list of gainers.

In the broader markets, the S&amp;P BSE MidCap and SmallCap indices were down 0.2 per cent and 0.3 per cent, respectively.

(With inputs from agencies)

Sensex and Nifty opened at record highs led by IT heavyweights but soon slipped under slight pressure in Friday's early trade in their opening deals, with the Sensex hitting 47,000 level for the first time ever.

Sensex and Nifty opened at record highs led by IT heavyweights but soon slipped under slight pressure in Friday's early trade in their opening deals, with the Sensex hitting 47,000 level for the first time ever. The S&P BSE Sensex was down 100 points at 46,799, after hitting an intra-day high of 47,026. The broader Nifty50 index fell below the 13,750-mark. IT stocks lead the way for the gainers, with HCL Tech and Infosys (both up 2%) being the top gainers, followed by TCS and Tech Mahindra (both up 1%). The Nifty sectoral indices were mixed, with the Nifty IT index, up 2 per cent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were down 0.2 per cent and 0.3 per cent, respectively. (With inputs from agencies)

Domestic stock market indices slip after hitting new high

Domestic stock market indices posted their longest run of weekly gains since April 2019, ending higher for seven straight weeks. Today's session was rangebound, with both the benchmarks ending little changed.

The benchmark S&amp;P BSE Sensex settled the day at the fresh closing peak of 46,961 levels, up 70 points or 0.15 per cent. The index hit a record high of 47,026 in the opening deals but erased gains on sell-off in large private banks, metals and realty stocks.

At close, Infosys, Bajaj Auto, State Bank of India (SBI), and ICICI Bank (up between 1.4 per cent and 2.6 per cent) were the top gainers while IndusInd Bank, HDFC Bank, ONGC, and Maruti Suzuki ended the day as top laggards.

The Nifty50 index, on the other hand, ended at 13,760.5 levels, up 20 points or 0.14 per cent.&nbsp;

On a weekly basis, both, the Sensex and Nifty indices have advanced nearly 2 per cent.&nbsp;

(With inputs from agencies)

Domestic stock market indices posted their longest run of weekly gains since April 2019, ending higher for seven straight weeks. Today's session was rangebound, with both the benchmarks ending little changed.

Domestic stock market indices posted their longest run of weekly gains since April 2019, ending higher for seven straight weeks. Today's session was rangebound, with both the benchmarks ending little changed. The benchmark S&P BSE Sensex settled the day at the fresh closing peak of 46,961 levels, up 70 points or 0.15 per cent. The index hit a record high of 47,026 in the opening deals but erased gains on sell-off in large private banks, metals and realty stocks. At close, Infosys, Bajaj Auto, State Bank of India (SBI), and ICICI Bank (up between 1.4 per cent and 2.6 per cent) were the top gainers while IndusInd Bank, HDFC Bank, ONGC, and Maruti Suzuki ended the day as top laggards. The Nifty50 index, on the other hand, ended at 13,760.5 levels, up 20 points or 0.14 per cent. On a weekly basis, both, the Sensex and Nifty indices have advanced nearly 2 per cent. (With inputs from agencies)

Sensex ends choppy trade 70 points higher, Nifty tops 13,750

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