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  • Lufthansa strike right this moment: Lufthansa pilots stage strike in wage dispute

    Pilots at Lufthansa walked out on Friday, forcing the German airline to cancel a whole bunch of flights and depart holidaymakers stranded.

    Labour union Vereinigung Cockpit (VC) had mentioned on Wednesday that pay talks with Lufthansa had failed, calling on pilots at each the passenger airline and at Lufthansa Cargo to go on strike.

    VC is demanding a 5.5% pay rise this yr for its greater than 5,000 pilots and computerized inflation compensation thereafter.

    Lufthansa has provided a complete of 900 euros ($901.35) extra in fundamental pay per thirty days in two phases over an 18-month time period in addition to an settlement guaranteeing cockpit employees a minimal fleet dimension.

    Strikes and employees shortages have already pressured airways together with Lufthansa to cancel 1000’s of flights this summer time and prompted hours-long queues at main airports, irritating holidaymakers eager to journey after COVID-19 lockdowns.

    VC’s calls for additionally come in opposition to the backdrop of hovering power and meals costs, with German inflation rising to its highest degree in nearly 50 years in August.

    Lufthansa cancelled about 800 flights at its important bases in Frankfurt and Munich, affecting 130,000 passengers.

    Last month, Lufthansa’s administration reached a pay cope with floor employees, averting additional walkouts after a strike had pressured it to cancel greater than 1,000 flights.

    Lufthansa additionally faces potential walkouts by pilots of subsidiary Eurowings, who’ve voted for industrial motion however are resulting from maintain a spherical of talks with administration subsequent week.

  • Sensex rises 226 factors; Nifty ends close to 16,500-mark

    Equity benchmark Sensex ended 226 factors larger on Monday following good points in index heavyweights TCS, HCL Tech and Reliance Industries amid a optimistic development in world markets.
    After rallying over 450 factors throughout the day, the 30-share index pared some good points to finish 226.47 factors or 0.41 per cent larger at 55,555.79. Similarly, the broader NSE Nifty superior 45.95 factors or 0.28 per cent to 16,496.45.
    HCL Tech was the highest gainer within the Sensex pack, rising over 4 per cent, adopted by TCS, Bajaj Finserv, Nestle India, Bharti Airtel, Bajaj Finance and Tech Mahindra.
    On the opposite hand, M&M, Bajaj Auto, ExtremelyTech Cement and PowerGrid have been among the many laggards.

    “Domestic equities remained volatile despite witnessing brisk opening today. Strong cues from global equities aided benchmark indices to witness modest recovery, which was also supported by sustained rebound in IT stocks,” mentioned Binod Modi, Head – Strategy at Reliance Securities.
    Nifty IT gained over 1.8 per cent, adopted by financials recording modest good points. An improved visibility of sustained earnings development with least volatility in comparison with different industries attracted traders in the direction of IT shares, he famous.
    Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with robust good points.

    Equities in Europe have been additionally buying and selling on a optimistic be aware in mid-session offers.
    Meanwhile, worldwide oil benchmark Brent crude surged 2.95 per cent to USD 66.66 per barrel.

  • Sensex slumps over 400 factors in early commerce; Nifty slips beneath 16,500-mark

    Equity benchmark Sensex tanked over 400 factors in early commerce on Friday, monitoring losses in index majors Reliance Industries, HDFC Bank and ICICI Bank amid a selloff in different Asian equities.
    The 30-share index was buying and selling 445.02 factors or 0.80 per cent decrease at 55,184.47, whereas the broader NSE Nifty slumped 147.10 factors or 0.89 per cent to 16,421.75.
    Tata Steel was the highest loser within the Sensex pack, shedding over 3 per cent, adopted by Kotak Bank, ICICI Bank, Dr Reddy’s, SBI, L&T, Axis Bank, HDFC Bank and Reliance Industries.
    On the opposite hand, Bharti Airtel, Asian Paints, Infosys and Maruti have been among the many gainers.

    In the earlier session, Sensex closed 162.78 factors or 0.29 per cent decrease at 55,629.49, and Nifty declined 45.75 factors or 0.28 per cent to 16,568.85.
    The inventory market was closed on Thursday on account of ‘Muharram’.
    Foreign institutional traders (FIIs) have been web sellers within the capital market as they offloaded shares price Rs 595.32 crore on Wednesday, as per provisional change knowledge.
    “Taper rumours have again started impacting markets. Minutes of the latest US Fed meet indicate that tapering of bond purchases may start later this year. This triggered a risk-off in markets with the Dow and S&P 500 correcting by 1.1 per cent each on the 18th,” mentioned V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
    Tapering is unfavourable information for markets since it would finally cut back the liquidity accessible within the monetary system, he famous.
    “But the positive dimension is that the Fed is indicating tapering since economic growth revival is strong. If growth and earnings recovery is strong, markets are likely to stage a rebound after the initial jitters,” he famous.
    Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul have been buying and selling with heavy losses in mid-session offers amid mounting worries of the unfold of delta variant of coronavirus within the area.

    However, equities within the US largely ended on a constructive observe in in a single day commerce.
    Meanwhile, worldwide oil benchmark Brent crude rose 0.42 per cent to USD 66.73 per barrel.

  • Sensex and Nifty open on uneven be aware on weak international cues

    Equity benchmarks Sensex and Nifty opened on a uneven be aware on Tuesday, monitoring weak cues from international markets.
    After dropping over 100 factors within the opening session, the 30-share index turned optimistic to commerce 64.21 factors or 0.12 per cent increased at 55,646.79, whereas the broader NSE Nifty superior 14.95 factors or 0.09 per cent to 16,578.
    Tech Mahindra was the highest gainer within the Sensex pack, rising over 3 per cent, adopted by Asian Paints, Sun Pharma and Nestle India.

    On the opposite hand, IndusInd Bank, HDFC Bank, Maruti and ICICI Bank had been among the many laggards.

    In the earlier session, Sensex ended 145.29 factors or 0.26 per cent increased at a brand new peak of 55,582.58, and Nifty superior 33.95 factors or 0.21 per cent to a contemporary excessive of 16,563.05.
    Foreign institutional buyers (FIIs) had been internet sellers within the capital market as they offloaded shares price Rs 1,088.32 crore on Monday, as per provisional alternate information.
    According to V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market is slowly shifting right into a consolidation section with robust help coming from largecaps. The present pattern of largecap outperformance is more likely to proceed within the very quick time period.
    “Presently, there are no major global cues that can sway the market trend. But domestic cues like the sustained decline in COVID cases and economic activity returning back to normal are positives,” he famous.
    Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul had been buying and selling with losses in mid-session offers, whereas Tokyo was optimistic.

    Equities within the US largely ended on a optimistic be aware in in a single day commerce.
    Meanwhile, worldwide oil benchmark Brent crude rose 0.03 per cent to USD 69.53 per barrel.

  • Sensex rises 145 factors to scale contemporary peak; Nifty ends above 16,550

    Equity benchmark Sensex jumped 145 factors to finish at a contemporary excessive on Monday monitoring features in index majors Reliance Industries, Bajaj Finance and Tata Steel.
    Despite opening on a uneven notice, the 30-share index ended 145.29 factors or 0.26 per cent greater at a brand new peak of 55,582.58. It touched a document intra-day excessive of 55,680.75. Similarly, the broader NSE Nifty superior 33.95 factors or 0.21 per cent to a contemporary excessive of 16,563.05. During the day, it rose to new intra-day peak of 16,589.40.
    Tata Steel was the highest gainer within the Sensex pack, rallying practically 4 per cent, adopted by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries.
    On the opposite hand, Maruti, Bajaj Auto, PowerGrid advert UltraTech Cement have been among the many laggards.

    “Domestic benchmark indices extended gains today, while midcap and smallcap stocks remained under pressure” stated Binod Modi, Head Strategy at Reliance Securities.
    Strong rebound in metals adopted by monetary companies aided Nifty. Additionally, sharp restoration in Reliance Industries after media experiences stating USD 25 billion Aramco deal is on superior stage additionally supported benchmark indices, he famous.
    Further, robust June quarter efficiency reported by steel firms and regular pricing in worldwide markets aided steel shares to see sharp rebound, Modi added.
    Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, whereas Shanghai was constructive.

    Equities in Europe have been additionally buying and selling on a unfavorable notice in mid-session offers.
    Meanwhile, worldwide oil benchmark Brent crude fell 1.33 per cent to USD 69.65 per barrel.

  • Indices finish at recent peaks, Sensex ends above 55,000 for the primary time

    The benchmark fairness indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent larger on Friday led by positive factors info expertise (IT) and fast-moving shopper items (FMCG) shares amid constructive financial information.
    The S&P BSE Sensex rose 593.31 factors (1.08 per cent) to finish above the 55,000 mark for the primary time ever at 55,437.29, whereas the Nifty 50 climbed 164.70 factors (1.01 per cent) to a recent closing excessive time of 16,529.10.
    Earlier within the day, the 30-share BSE benchmark had crossed the 55,000-mark for the primary time and scaled a report excessive of 55,487.79, whereas the NSE barometer touched its all-time excessive of 16,543.60.

    The positive factors within the Sensex have been led by Tata Consultancy Services (TCS), Reliance Industries (RIL), HDFC Bank, Infosys, Housing Development Finance Corporation (HDFC) and Larsen & Toubro (L&T).

    Among the sectoral indices, the Nifty IT index rose 1.35 per cent led by TCS, HCL Technologies, Wipro and Infy. Apart from this the Nifty FMCG index rose 0.88 per cent led by Tata Consumer Products, Procter & Gamble Hygiene and Health Care and Dabur India.
    In the broader market, the S&P BSE MidCap index ended at 22,941.04, down 13.90 factors (0.06 per cent), whereas the S&P BSE SmallCap settled at 26,355.20, down 2.76 factors (0.01 per cent). The volatility index or India VIX rose 4.99 per cent to 12.9900.
    “Domestic main indices raised the bars, registering new highs, bolstered by favorable economic data and a strong performance by large caps like defensive sectors such as IT, FMCG and telecom. Investor sentiments were boosted as retail inflation eased to 5.59 per cent in July from 6.26 per cent in June owing to softening food prices. Moreover, Industrial Production rose by 13.6 per cent YoY in June on account of good performance by manufacturing, mining and power sectors,” stated Vinod Nair, Head of Research at Geojit Financial Services.
    Global market
    European shares hit new highs on Friday and have been on target for a record-breaking run, capping one other robust week as buyers seize on a dip in US inflation and extra forecast-beating company earnings.
    It was a distinct story in Asia, the place worries a couple of regulatory crackdown in China and a surge within the COVID-19 Delta variant has sapped confidence.
    By 0810 GMT on Friday, the MSCI world fairness index, which tracks shares in 50 international locations, was slightly below an all-time report excessive.The broader Euro STOXX 600 was 0.15 per cent larger – on Thursday it equalled its longest ever longest profitable streak. Friday would see the index extending positive factors for a report tenth consecutive session.

    Markets in Germany and France added 0.2 per cent. Britain’s FTSE 100 gained 0.3 per cent. Futures additionally pointed to a small acquire on Wall Street when it opens.
    In Asia, markets principally declined. MSCI’s broadest index of Asia-Pacific shares outdoors Japan fell 0.65 per cent, and was 0.87 per cent decrease for the week. Chinese blue chips weakened 0.55 per cent, dragged down by its native semiconductor sub-index, which slumped 4.1 per cent.
    –world market enter from Reuters

  • Sensex rises over 150 factors in early commerce, Nifty above 16,300-mark

    Equity benchmark Sensex jumped over 150 factors in early commerce on Thursday, monitoring good points in index heavyweights ITC, ICICI Bank and Reliance Industries amid a largely constructive development in world markets.
    The 30-share index was buying and selling 155.90 factors or 0.29 per cent larger at 54,681.83, whereas the broader NSE Nifty superior 42.90 factors or 0.26 per cent to 16,325.15.
    PowerGrid was the highest gainer within the Sensex pack, rising over 2 per cent, adopted by ITC, M&M, Bajaj Auto, ICICI Bank and Tata Steel.
    On the opposite hand, Kotak Bank, IndusInd Bank, Dr Reddy’s, Sun Pharma and Asian Paints have been among the many laggards.

    In the earlier session, Sensex ended 28.73 factors or 0.05 per cent decrease at 54,525.93, whereas Nifty inched up 2.15 factors or 0.01 per cent at 16,282.25.
    Foreign institutional buyers (FIIs) have been internet patrons within the capital market as they bought shares price Rs 238.14 crore on Wednesday, as per provisional change information.
    “Global equity markets have positive news from the US inflation data for July which has come at 0.5 per cent month-on-month. This is slightly lower than expected and confirms the Fed thesis that inflation is transitory,” mentioned V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
    The constructive response of Dow and S&P to the inflation numbers and the decline within the greenback index will strengthen the bulls.

    Elsewhere in Asia, bourses in Tokyo and Seoul have been buying and selling with good points in mid-session offers, whereas Shanghai and Hong Kong have been within the purple.
    Meanwhile, worldwide oil benchmark Brent crude rose 0.04 per cent to USD 71.47 per barrel.

  • Sensex rises over 100 factors in early commerce, Nifty above 16,300 mark

    Equity benchmark Sensex jumped over 100 factors in early commerce on Wednesday, monitoring good points in index majors HDFC Bank, Tata Steel and Axis Bank, amid a largely optimistic development in international markets.
    The 30-share index was buying and selling 149.24 factors or 0.27 per cent larger at 54,703.90, whereas the broader NSE Nifty superior 46.95 factors or 0.29 per cent to 16,327.05.
    Tata Steel was the highest gainer within the Sensex pack, rising over 2 per cent, adopted by NTPC, SBI, Axis Bank, HDFC Bank and PowerGrid.
    On the opposite hand, Tech Mahindra, Dr Reddy’s, Sun Pharma and Bajaj Finance have been among the many laggards.

    In the earlier session, Sensex closed 151.81 factors or 0.28 per cent larger at its lifetime peak of 54,554.66, whereas Nifty superior 21.85 factors or 0.13 per cent to 16,280.10.
    Foreign institutional buyers (FIIs) have been web sellers within the capital market as they offloaded shares value Rs 178.51 crore on Tuesday, as per provisional change information.
    Domestic equities look to be modestly good as of now, mentioned Binod Modi Head-Strategy at Reliance Securities.
    Given the sharp enchancment in key financial indicators like GST assortment, auto gross sales quantity regardless of provide disruption and different excessive frequency indicators like e-way payments in July point out sustainable rebound in company earnings in subsequent quarters. This ought to assist the market to maintain premium valuations, he famous.
    US equities ended principally larger on Tuesday after the Senate handed a USD 1 trillion infrastructure invoice.
    However, he mentioned the unfold of the delta variant of coronavirus and its potential opposed affect on international financial restoration remained in focus.

    Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo have been buying and selling with good points in mid-session offers, whereas Seoul was within the pink.
    Meanwhile, worldwide oil benchmark Brent crude fell 0.23 per cent to USD 70.47 per barrel.

  • Sensex scales recent peak, settles 152 factors greater

    Equity benchmark Sensex rose by 152 factors to finish at a file excessive on Tuesday, monitoring beneficial properties in index majors HDFC, Bharti Airtel and Infosys amid a largely constructive development in international markets.
    The 30-share index ends 151.81 factors or 0.28 per cent greater at its lifetime peak of 54,554.66, whereas the broader NSE Nifty superior 21.85 factors or 0.13 per cent to 16,280.10.
    Bharti Airtel was the highest gainer within the Sensex pack, rising round 4 per cent, adopted by Tech Mahindra, HDFC, Kotak Bank, M&M and HCL Tech.
    On the opposite hand, Tata Steel, NTPC, ITC and PowerGrid have been among the many laggards.

    “Domestic equities witnessed high volatility today and benchmark Nifty after recording fresh all-time high fell sharply mainly led by heavy selling pressure in metals, PSU banks and realty stocks,” stated Binod Modi, Head Strategy at Reliance Securities.
    However, financials (ex- PSU banks) continued to assist market and arrested sharp fall, he stated, including that IT shares remained in focus as we speak as excessive volatility in market supplied an edge to safer wager like IT firms.

    Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with beneficial properties, whereas Seoul was within the crimson. Equities in Europe have been largely buying and selling on a constructive observe in mid-session offers.
    Meanwhile, worldwide oil benchmark Brent crude rose 1.03 per cent to USD 69.75 per barrel.

  • Sensex jumps over 200 factors in early commerce, Nifty tops 16,300-mark

    Equity benchmark Sensex jumped over 200 factors in early commerce on Monday, monitoring positive aspects in index majors Infosys, ITC and HUL amid a constructive pattern in international markets.
    The 30-share index was buying and selling 219.52 factors or 0.40 per cent increased at 54,497.24, whereas the broader NSE Nifty superior 65.05 factors or 0.40 per cent to 16,303.25.
    M&M was the highest gainer within the Sensex pack, rising over 2 per cent, adopted by Tech Mahindra, Titan, Bajaj Finserv, IndusInd Bank and Asian Paints.
    On the opposite hand, Kotak Bank, Reliance Industries, Dr Reddy’s and HDFC Bank have been among the many laggards.

    In the earlier session, Sensex ended 215.12 factors or 0.39 per cent decrease at 54,277.72, and Nifty fell 56.40 factors or 0.35 per cent to 16,238.20.
    Foreign institutional buyers (FIIs) have been internet sellers within the capital market as they offloaded shares price Rs 69.37 crore on Friday, as per provisional alternate knowledge.
    “RBI’s continued soft monetary policy stance to support ongoing economic recovery augurs well for domestic equities,” mentioned Binod Modi Head-Strategy at Reliance Securities.
    Further, sooner vaccination course of within the nation and absence of sharp spike in day by day caseload regardless of opening-up economic system bode nicely, he famous.
    Also, sharp enchancment in key financial indicators like GST assortment, auto gross sales quantity and different high- frequency indicators like e-way payments in July suggests sustainable rebound in company earnings in subsequent quarters. This ought to help the market to maintain premium valuations, he added.

    Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul have been buying and selling with positive aspects in mid-session offers.
    Meanwhile, worldwide oil benchmark Brent crude fell 1.82 per cent to USD 69.41 per barrel.