Indian share market opens flat, HDFC Bank and TCS among top gainers

Indian Share Market Opens Flat, HDFC Bank And TCS Among Top Gainers

by Utkalika Mohanty

NEWS HIGHLIGHTS

The Indian stock market opened flat on Wednesday as buying was seen in the IT, financial services, FMCG and metal sectors in the early trade.

Mumbai, Oct 23: The Indian stock market opened flat on Wednesday as buying was seen in the IT, financial services, FMCG and metal sectors in the early trade.

Sensex opened at 80,151.67 with a fall of 69.05 points or 0.09 per cent while Nifty opened at 24,437.70 with a slide of 34.40 points or 0.14 per cent.

The market trend remained mixed. On the National Stock Exchange (NSE), 1,126 stocks were trading in green, while 1,170 stocks were trading in red.

Nifty Bank was at 51,313.05 after rising 56.50 points or 0.11 per cent. Nifty Midcap 100 index was trading at 50,087.10 level after slipping 86.95 points or 0.15 per cent. At the same time, the Nifty Smallcap 100 index was at 18,021.05 after slipping 39.95 points or 0.22 per cent.

Bajaj Finance, Bajaj Finserv, HDFC Bank, Nestle India, Tech Mahindra and TCS were the top gainers in the Sensex pack. At the same time, NTPC, Power Grid, M&M, Tata Motors and the SBI were the top losers.

In Asian markets, Shanghai and Hong Kong markets were trading in the green. At the same time, Jakarta, Japan and Bangkok markets were trading in the red. The US stock markets closed in the red on the last trading day.

According to market experts, "The ongoing trend of large caps outperforming mid and smallcaps is likely to sustain, going forward. FII selling and the countervailing trend of domestic institutional investors (DII) buying is likely to continue."

In the coming days the market will be looking forward to the outcome of the US presidential elections and its possible impact on the market, they said.

On Tuesday, the Indian markets saw some buying at the start of the session but failed to sustain the gains, extending selling pressure and closing on a negative note for the second consecutive day.

Looking ahead, a "sell on rise" strategy is recommended, with the 24,650 - 24,850 range considered a potential selling zone, as long as the index stays below 25,000,” said experts.

--IANS

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Dharmendra Pradhan Addresses Australian International Education Conference

by Hemanta Pande

Melbourne, Oct 23: Union Education Minister Dharmendra Pradhan delivered the plenary speech at the Australian International Education Conference in Melbourne, Australia, today.

Delivered the plenary at the Australian International Education Conference.

Spoke about how NEP 2020 has transformed India’s learning landscape into a powerhouse of possibilities, the enduring India-Australia ties and the remarkable strides made in education cooperation powered… https://t.co/tsBKKFcxab pic.twitter.com/wGTeICAOLP — Dharmendra Pradhan (@dpradhanbjp) October 23, 2024

Pradhan in his speech commended the strong and evolving partnership between India and Australia that ties the history of the two countries and will also pave the way for a brighter future together.

The Minister also reaffirmed the further strengthening of these ties under the visionary leadership of Prime Minister Narendra Modi and Prime Minister of Australia Anthony Albanese.

Pradhan also highlighted that in the 4th Industrial Revolution, education must prepare students to be creators and managers of technology. India’s National Education Policy provides a framework emphasising digital literacy, soft skills, critical thinking, and interdisciplinary studies to adapt to evolving job markets, he added.

The Minister emphasized that cooperation in education is the fulcrum of the India-Australia relationship. He stated that the main objective is to enhance India's education system into a competency-based framework, focusing on skills-based education as outlined in India’s National Education Policy (NEP).

Pradhan also spoke about how NEP 2020 has transformed India’s learning landscape into a powerhouse of possibilities, the enduring India-Australia ties and the remarkable strides made in education cooperation powered by NEP 2020. The establishment of Australian university campuses in India is just the beginning, with much more potential to be realized, he added.

He also added that together, the countries can advance knowledge, leverage technology for global challenges, and create endless opportunities for innovation and entrepreneurship for the students.

The Minister also expressed that as a ‘Vishwa-Bandhu’, India is committed to being a trusted partner in human-centric development. The idea is to build and nurture global citizens, contributing to a brighter future for the next generation, he said.

Pradhan also held a Bilateral Meeting with his counterpart Minister for Education, Government of Australia, Jason Clare MP.

Members of the Indian delegation, heads of the universities of both countries, and other dignitaries were also present at the event.

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Cyclone Dana: Fishermen Advised Not To Go Into Odisha's Chilika Lake Till Oct 26

by Utkalika Mohanty

Khordha, Oct 23: With Cyclone Dana approaching Odisha and predicted to make landfall in the early hours of October 25, the state government has made elaborate arrangements to counter the effects of cyclone.

The India Meteorological Department (IMD) has predicted heavy to extremely heavy rainfall in Odisha and Gangetic West Bengal from October 24 to 26 at isolated places over Baleswar, Mayurbhanj, Bhadrak, Kendrapara, Jagatsingpur Kendujhar, Jajpur, Cuttack and Dhenkanal, Khorda and Puri districts of the state.

Khorda District Fisheries Officer (Biology and Technology) spoke about preparations taken by the government.

Manoranjan Dash, District Fisheries Officer (Biology and Technology), said that fisherfolk have been advised to not venture out into the sea.

"We have informed all the fishermen regarding cyclone guidelines of Odisha government. They have been advised not go inside Chilika Lake till October 26," he said.

According to IMD, the cyclone Dana is very likely to move northwestwards and intensify into a severe cyclonic storm over northwest Bay of Bengal by early morning of October 24 and cross north Odisha and West Bengal coasts between Puri and Sagar Island close to Bhitarkanika and Dhamara (Odisha) during night of October 24 to morning of October 25 as a severe Cyclonic Storm with a wind speed of 100-110 kmph gusting 120 kmph.

Balugaon NAC (Notified Area Council) Executive officer spoke to ANI about the preparedness by Khordha District Magistrate and House and Urban Development Department.

Balugaon NAC Executive officer Pran Nath Seth said are taking all possible measure to tackle the impact of cyclone Dana.

"As per the direction of Khordha Distrct Magistrate and House and Urban Development Department we have taken every possible measure to tackle cyclone Dana. We are warning all the people not to visit Chilika during the cyclone. We have cleaned all drains to avoid waterlogging. We are ready to face the cyclone", he said.

The Assistant Register Cooperative Society (ARCS) of Chilika said the safety of the fishermen society is important to the state government.

ARCS of Chilika, Udayakar Behera said, "We have alerted all the fishermen in the society by writing to them that they should avoid going to Chilika Lake during the cyclone. The safety of fishermen is our top priority....", he said.

National Disaster Response Force (NDRF) teams in both Odisha and West Bengal have been put on standby. Additionally, rescue and relief teams from the Army, Navy and the Coast Guard have been placed on high alert.

(ANI)

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Cyclone Dana To Make Landfall Between Bhitarkanika-Dhamara In Odisha

by Utkalika Mohanty

Bhubaneswar, Oct 23: The India Meteorological Department on Wednesday predicted that the impending cyclonic storm Dana is expected to hit the Odisha coast between Bhitarkanika of Kendrapara district and Dhamara area of Bhadrak district on October 24 and 25.

“It is very likely to move northwestwards and intensify into a severe cyclonic storm over northwest Bay of Bengal by the early morning of October 24 and cross north Odisha and West Bengal coasts between Puri and Sagar Island close to Bhitarkanika-Dhamra (Odisha) during the night of October 24 to the morning of October 25 with a wind speed of 100-110 kmph gusting to 120 kmph,” predicted IMD on Wednesday.

IMD Director General Mrutyunjay Mohapatra said that coastal areas of Jagatsinghpur, Kendrapara, Bhadrak, Balasore districts are likely to witness high tidal waves surging up to 1 to 2 meters in height due to the effect of the cyclone Dana.

The Odisha government has taken several precautionary measures, including evacuation of the residents living in around 3,000 identified vulnerable places in affected districts, deployment of Odisha Disaster Rapid Action Force (ODRAF), National Disaster Response Force (NDRF) and Fire Services personnel in these districts.

As many as 288 rescue teams including 51 ODRAF, 19 NDRF, and 178 Fire Services teams have been deployed in 13 districts for rescue and relief purposes. Around 6,000 cyclone shelters and relief centres to accommodate people evacuated from vulnerable places in the affected districts have been set up by the state government. Special arrangements have been made for women at these centres.

The district administrations have also made arrangements for sufficient stock of food items, essential medicines, water and electricity arrangements at the relief centres and cyclone shelters. The state government targets to evacuate around 10 lakh people to safer places. The government has also identified more than 8,000 pregnant women who are being shifted to nearby hospitals for safe delivery.