Sensex Closes Up By 361 Pts, IT Stocks Lead

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by Shambhu Datta Mishra

NEWS HIGHLIGHTS

At closing, Sensex was up 361 points or 0.44 per cent at 81,921 and Nifty was up 104 points or 0.42 per cent at 25,041

Nifty midcap 100 index was up 691 points or 1.19 per cent at 59,039 and Nifty smallcap 100 index was up 220 points or 1.15 per cent at 19,317

Among the sectoral indices, IT, pharma, metal, auto, realty and energy were major gainers, while PSU Bank, Fin service and oil gas were major losers

Mumbai, Sept 10: Indian equity indices closed in the green Tuesday due to a rally in the IT stocks.

At closing, Sensex was up 361 points or 0.44 per cent at 81,921 and Nifty was up 104 points or 0.42 per cent at 25,041.

Buying was also seen in the midcap and large-cap stocks. Nifty midcap 100 index was up 691 points or 1.19 per cent at 59,039 and Nifty smallcap 100 index was up 220 points or 1.15 per cent at 19,317.

Among the sectoral indices, IT, pharma, metal, auto, realty and energy were major gainers. PSU Bank, Fin service and oil gas were major losers.

According to market analysts, "The domestic market showcased a gradual rebound driven by the shift in focus towards upcoming US inflation and potential Fed policy stance. The US political risk and recession fears may set near-term cautious sentiments in the global market. On the domestic front, a strong monsoon, and an expectation of an uptick in demand during festival season will drive investor sentiment."

In the Sensex pack, HCL Tech, Bharti Airtel, Wipro, Tech Mahindra, NTPC, Power Grid, Axis Bank, TCS, Titan, Infosys, Maruti Suzuki and L&T were the top gainers. Bajaj Finserv, Bajaj Finance, HUL, M&M, Tata Motors, SBI and Reliance were the top losers.

Rupak De, Senior Technical Analyst at LKP Securities said, "Nifty remained volatile throughout the day, unable to sustain levels above 25100. The Relative Strength Index (RSI) remained in a bearish crossover on the daily timeframe, indicating continued weakness."

"Sentiment is expected to stay weak in the near term unless Nifty manages a close above 25100. On the lower side, support is seen at 24900. If breached, the index may decline further towards 24750," De added.

The market opened in the green. In early trade, Sensex was up 43 points or 0.05 per cent at 81,605 and Nifty was up 13 points or 0.05 per cent at 24,950.

(IANS)

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Raina Advocates For Spin-Heavy Attack As India Gears Up For Bangladesh Test

by Pabitra Mohan Senapaty

New Delhi, Sep 17: As India prepares to face Bangladesh in the first Test of their upcoming series, former Indian cricketer Suresh Raina has recommended a bold strategy for the Indian team. Raina suggested that India should deploy a spin-dominant attack with three spinners and two fast bowlers for the match, which begins on Thursday at the MA Chidambaram Stadium in Chennai.

Raina's strategy is driven by the nature of the Chennai pitch, which he expects to favor spinners due to its black soil composition. He proposed selecting Ravichandran Ashwin, Ravindra Jadeja, and Kuldeep Yadav as the spin trio, alongside fast bowlers Mohammad Siraj and Jasprit Bumrah.

"I believe India should go with five bowling options, that is three spinners and two pacers. Mohammad Siraj has been doing very well in the past few years in Red ball cricket, we all know how good Jasprit Bumrah is, and what he has done for the Indian cricket team in the past few years barely any fast bowlers in the world of cricket has done. So with two pacers and Ravichandran Ashwin, Ravindra Jadeja, and Kuldeep Yadav India should go ahead," Raina told IANS in the backdrop of the LLC press conference.

"Ashwin and Jadeja combination on Indian pitches is the most deadly combination so with the condition that Chennai pitch offers, the black soil, humid conditions and the winds they will just unsettle the opponents," he added.

India, currently leading the World Test Championship (WTC) standings with a 68.52 percent rating, is looking to solidify their position at the top. The series against Bangladesh is crucial as it precedes Test series against New Zealand and Australia.

Raina acknowledged that while his suggestion is based on pitch conditions and current form, the final decision rests with Indian captain Rohit Sharma, who will assess the best combination for the team.

Raina welcomed former teammates Shikhar Dhawan and Dinesh Karthik to the third edition of the Legends League Cricket. "I would like to welcome Shikhar Dhawan and Dinesh Karthik to the Legends League Cricket, we all have been playing cricket since 1998, and it's good that we will play cricket again."

The Legends League Cricket (LLC) is set to return for the third edition with former India stars Dinesh Karthik and Shikhar Dhawan, the two latest entrants taking part in the tournament, signed directly by the respective teams Southern Superstars and Team Gujarat.

Harbhajan Singh-led defending champions Manipal Tigers will take on the Konark Suryas Odisha (previously known as Bhilwara Kings) captained by Irfan Pathan at the Barkatullah Khan Stadium, Jodhpur on September 20.

--IANS

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Modi 3.0: In Just 100 Days, Govt Approves 3 Crore PMAY Houses, Starts 15 New Vande Bharat Trains

by Pabitra Mohan Senapaty

New Delhi, Sep 17: Prime Minister Narendra Modi-led NDA government in the Centre has approved the construction of three crore houses for the poor under the Pradhan Mantri Awas Yojana (PMAY) within the first 100 days of its third term, while 15 new Vande Bharat trains have started operations during the period, BJP chief J.P. Nadda said on Tuesday.

Highlighting the achievements of the Narendra Modi government, which completed 100 days of its third term on Tuesday, he said that the government has done many important public welfare works in just 100 days for the rapid progress of the country.

Nadda, who is also the Union Health Minister, made the remarks after launching a blood donation camp under 'Seva Pakhwada' at the BJP headquarters here to mark Prime Minister Modi's 74th birthday.

An exhibition on Prime Minister Modi's life was also inaugurated at the party headquarters to mark the special day.

The BJP President said that the government has released the 17th instalment of the Pradhan Mantri Kisan Samman Nidhi and under the scheme, an amount of more than Rs 2 lakh crore has been deposited to the bank accounts of farmers so far.

The Narendra Modi government has also approved the Unified Pension Scheme (UPS) during the period.

"Keeping in mind the interests of the farmers, the government has increased the minimum support price. Approval has been given to build eight National High-Speed Road Corridors and eight new broad gauge railway lines," Nadda said.

He further said that the government, during the period, has approved 12 new smart cities and has allocated Rs 3 lakh crore to further improve the infrastructure.

Under the Pradhan Mantri Ayushman Jan Arogya Yojana, a scheme linked to all sections of society, now free treatment facility of up to Rs 5 lakh per year will be provided to people above 70 years of age in the country, irrespective of income and social class of the person, he said.

"The fourth phase of Pradhan Mantri Gramin Sadak Yojana has been approved. Under this, about 62,500 km of all-weather rural roads will be constructed to connect 25 thousand villages with roads. Many such works have been done during the third term of the Prime Minister, of which I have mentioned some major works. All these works have been done in just 100 days," the BJP chief said.

--IANS

Sensex Closes Up By 361 Pts, IT Stocks Lead

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