Indian Markets Close At Historic High, Sensex Breaches 80,000

by Shambhu Datta Mishra

NEWS HIGHLIGHTS

The Sensex closed at an all-time high of 79,986.80 points, while the Nifty 50 index finished at 24,286.50 points, marking its highest closing level to date

On the NSE, Britannia, ICICI Bank, and Axis Bank emerged as the top performers, contributing significantly to the day's gains

Mumbai, July 3: The Indian markets gained to a historic high Wednesday with Sensex breaching the 80,000 mark for the first time.

By the close of the trading session, both the indices achieved new 52-week highs. The Sensex closed at an all-time high of 79,986.80 points, very near to the 80,000 milestone.

Meanwhile, the Nifty 50 index also sustained its upward momentum, finishing at 24,286.50 points, marking its highest closing level to date.

"Sensex crossing the 80000 mark is a big achievement for the Indian stock market. 16 years ago it was at 8800 on the day when Lehman, the leading bank in the US markets, crashed. Nine times returns in 16 years. However, four years ago during the time of Covid, it was at 26000, which seems unrealistic but it is true," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

The broader market on the National Stock Exchange mirrored this bullish trend, with all indices closing with gains Wednesday.

Among the sectoral indices, Nifty Media was the only exception, as all other sectors supported the rally and ended the day in positive territory.

Leading the gains on the Sensex were the shares of HDFC Bank, which hit a new high of Rs 1,794. This was followed by impressive performances from Kotak Bank, Bajaj Finance, Bajaj Finserv, and M&M.

However, not all stocks rode the wave of optimism; Tech Mahindra, TCS, Sun Pharma, Infosys, and Bharti Airtel were among the top losers.

On the NSE, Britannia, ICICI Bank, and Axis Bank emerged as the top performers, contributing significantly to the day's gains. In contrast, Tata Motors and Ultratech Cement faced losses, making them the laggards on a day otherwise dominated by positive sentiment.

"The Indian Rupee may face challenges due to rising crude oil prices. Being one of the world's largest oil importers, India could see a deterioration in its Current Account Deficit (CAD) after experiencing a surplus for the first time in one and a half years. The increase in oil prices also threatens the headline inflation target, potentially prompting the Reserve Bank of India (RBI) to maintain a prolonged hawkish stance," said Riya Singh, Research Analyst, Commodities and Currency, Emkay Global.

(ANI)

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Trump Calls For 'No Holds Barred' Debate As Biden Tries To Undo Damage From The First

by Pabitra Mohan Senapaty

Washington, July 5: Donald Trump, the former President and presumptive Republican nominee, has called for a “no holds barred” debate with Joe Biden, the President and the presumptive Democratic nominee, as the latter sits down for a widely anticipated interview he is doing to allay concerns about his health and ability to serve another four years following the disastrous performance in the first debate last week.

"I have the answer to the Crooked Joe Biden Incompetence Puzzle", Trump wrote in a post on Truth Social, the social media platform he launched to counter his banishment from erstwhile Twitter, which is now called X.

"Let’s do another Debate, but this time, no holds barred - An all on discussion, with just the two of us on stage, talking about the future of our Country."

The second debate is scheduled for September, according to an arrangement agreed to by both sides, in the same format as the first - just the two candidates and moderators on the stage, with no audience and strictly regulated speaking time.

The former President came out unscathed from the debate with his many half-truths and lies because the incumbent President stole all the headlines with a disastrous performance that sent the Democratic leaders and rank-and-file members into panic.

Calls for Biden to step aside for someone younger and more capable started within hours and continue despite his and his campaign’s attempts to portray the debate performance as a bad night caused by a sore throat and exhaustion from recent travels abroad. He has tried to do more public appearances to demonstrate he is in good health and mentally alert and able. He is doing an interview with an ABC anchor, which will be telecast in its entirety and unedited Friday evening.

Biden has told an ally that his performance in the interview and a few public events over the weekend will be critical in his decision to continue or quit the race, according to news reports.

Vice-President Kamala Harris has emerged as a top contender for the Democratic presidential ticket given up by the president, with many Democratic leaders naming her as their choice even though she has remained solidly aligned with Biden, affirming her faith in his candidacy.

In a head-to-head matchup poll, Harris is within striking distance of the former President, trailing by only 3 percentage points.

Biden’s misfortune has been Trump’s gain. He has widened his lead over the president in polls. In some polls, he has cartwheeled ahead of Biden from trailing him. It’s not surprising, therefore, that he is calling for another debate, a "no holds barred" debate, having the edge at this time.

It was different in 2020. Trump was widely panned for his performance in the first debate, when he had kept interrupting Biden and speaking over him. Now the roles are reversed, and he is the victor of the debate.

Given the turmoil in the Democratic party, Trump is prepared to take on whoever emerges with the nomination in case President Biden decides to step aside.

"President Trump will beat any Democrat on November 5th because he has a proven record and an agenda to Make America Great Again," Chris LaCivita and Susie Wiles, Trump campaign advisers, have said in a statement.

--IANS

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Akshay Kumar Offers Help To Elderly Woman Boarding Her First Flight On 'Sarfira' Set

by Pabitra Mohan Senapaty

Mumbai, July 5: The makers of Akshay Kumar-starrer upcoming film 'Sarfira' on Friday released a behind-the-sets (BTS) video from the shoot of the movie, wherein we can see the 'Khiladi' of Bollywood lending a helping hand to a senior lady, who was boarding her first-ever flight.

A recent video from the sets of 'Sarfira' is melting hearts across the internet. With grace and kindness, the video shows Akshay taking away the heavy bag from her and offering assistance during her scene.

The video captures Akshay speaking to the lady in fluent Marathi, creating a moment of genuine warmth and connection. The senior lady’s heartfelt blessing towards the end of the clip is evidence of the impact of Akshay’s kindness off-camera.

'Sarfira’ is inspired by the life of Air Deccan founder GR Gopinath, who revolutionised air travel in India by making it affordable for the common man.

Akshay plays Vir Jagannath Mhatre, the son of a teacher in rural Maharashtra, who embarks on an ambitious mission to democratise air travel, challenging socio-economic barriers and embodying the spirit of modern India's entrepreneurial rise.

The movie stars Radhikka Madan, alongside Akshay.

'Sarfira' not only tells an inspiring story but also involves real-life locals from small towns, who experienced their first flight during the making of the film.

The makers also recently released a new track from the movie titled 'Chaawat', which captures the joyous spirit of a traditional Maharashtrian wedding.

The Maharashtrian-themed song is penned by Manoj Muntashir Shukla and is composed by G.V Prakash Kumar. It is sung by Shreya Ghoshal.

Written by Sudha and Shalini Ushadevi, with dialogues by Pooja Tolani, and a G.V. Prakash Kumar musical, 'Sarfira' is produced by Aruna Bhatia (Cape of Good Films), South superstars Suriya and Jyotika (2D Entertainment) and Vikram Malhotra (Abundantia Entertainment).

The movie is set to release in theatres on July 12.

--IANS

Indian Markets Close At Historic High, Sensex Breaches 80,000

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