Sensex Snaps Five-Day Losing Streak, Nifty Closes Above 24,300

by Hemanta Pande

NEWS HIGHLIGHTS

Indian stock markets experienced a significant rebound in Monday’s market, with the Sensex surging by 602 points, closing at 80,005, and the Nifty climbing 158 points to settle at 24,339.

Mumbai, Oct 28: Indian stock markets experienced a significant rebound in Monday’s market, with the Sensex surging by 602 points, closing at 80,005, and the Nifty climbing 158 points to settle at 24,339. The benchmark indices recorded the best session in one month.

Rally was driven by baking stock. Nifty Bank closed at 51,259, up 471 points or 0.93 per cent.

In the Sensex pack, ICICI Bank, Wipro, Tata Steel, JSW Steel, M&M, Sun Pharma, HUL, SBI, Tata Motors, Bajaj Finserv, Asian Paints, IndusInd Bank, NTPC and HCL Tech were the top gainers. Axis Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Bharti Airtel were the top losers.

Almost all indices on the National Stock Exchange (NSE) closed with gains. PSU Bank, pharma, FMCG, realty, auto, IT and media were major gainers.

Along with largecap, buying was also seen in midcap and smallcap. The Nifty Midcap 100 index was at 55,736, up 458 points or 0.83 per cent and the Nifty Smallcap 100 index was at 18,062, up 214 points or 1.20 per cent.

Vaibhav Vidwani, Research Analyst, Bonanza said, "This rally followed a five-day losing streak, largely driven by strong quarterly earnings from ICICI Bank and Bank of Baroda, which boosted investor sentiment. The current rally is encouraging, but ongoing foreign institutional selling and weaker corporate earnings could continue to pressure the market in the near term."

Rupak De, Senior Technical Analyst, LKP Securities said, "The Nifty remained volatile during the day before closing with a meaningful gain after several days. On the downside, it sustained above the previous day's low, indicating strength in buying."

"This strength may persist as long as it stays above 24,000. Only a decisive drop below 24,000 might trigger panic in the market. On the higher end, resistance is seen at 24,500, and a decisive move above this level could spark a rally in the Nifty," De added.

--IANS

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"As India Emerges A Digital Superpower, We Are Facing New Challenges", Says Dharmendra Pradhan

by Hemanta Pande

Varanasi, Oct 28: Union Minister Dharmendra Pradhan on Monday discussed Prime Minister Narendra Modi's 'Mann Ki Baat' segment on cybercrime.

Speaking to reporters, Dharmendra Pradhan stated that India is emerging as a global digital superpower and that the government is closely studying the new challenges that come with this evolution.

"India is emerging as a global digital superpower. At a time like this, new challenges are surfacing. We must examine these issues thoroughly and prepare to address them. PM Modi's clarion call is guiding those involved in the digital sector in the country," he said.

On Sunday, Union Minister Shivraj Singh Chouhan lauded PM Narendra Modi for transforming 'Mann Ki Baat' into a campaign for public awareness.

Speaking to the media, Chouhan remarked, "Prime Minister Modi has turned 'Mann Ki Baat' into a platform for public awareness. He shared information on cybercrime to help the public guard against it, as many people have been deceived."

During the 115th episode of 'Mann Ki Baat' on Sunday, PM Modi referred to 'digital arrest' as a growing threat, describing individuals engaged in such activities as "enemies of society."

Uttar Pradesh BJP chief Bhupendra Singh Chaudhary also commended PM Modi for addressing a range of subjects, including India's art and culture, cyber fraud, and digital arrest, in his 'Mann Ki Baat' broadcast.

"PM Modi talked about being 'vocal for local' and highlighted the global appreciation of India's art and culture. He also touched upon cyber fraud and digital arrest," Chaudhary noted.

"...There is no legal concept like digital arrest; it is simply fraud, deceit, and lies by criminal gangs who are indeed enemies of society. Various investigative agencies are collaborating with state governments to tackle fraud under the guise of digital arrest. The National Cyber Coordination Centre has been established to foster coordination among these agencies," PM Modi said.

"...Under the digital arrest scam, callers impersonate police, CBI, RBI, or narcotics officials and speak with extreme confidence. People asked me to discuss this on 'Mann Ki Baat' as it's crucial to raise awareness. The first step of this scam involves gathering your personal information; the second step is to create an atmosphere of fear, scaring victims to the point where they can't think clearly. The third step is the application of time pressure... People from all backgrounds and ages have lost significant sums to this scam. If you receive such a call, don't panic. Know that no investigating agency conducts interrogations over the phone or video calls. Remember the three steps for digital security: stop, think, and take action. If possible, take a screenshot or record the call. Government agencies do not issue threats or demand money over the phone," PM Modi advised.

Commenting on PM Modi's 'Mann Ki Baat' programme, UP Deputy CM Brajesh Pathak said, "He has raised many important issues for the nation's attention. Cyber Fraud--specifically, Digital Arrest--is a crucial topic. I urge people across the state to stay vigilant against such threats." (ANI)

Sensex Snaps Five-Day Losing Streak, Nifty Closes Above 24,300

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