Share Market Highlights: Sensex ends 226 pts higher at 55555, Nifty closes at 16496; HCL Tech TCS top gainers
Leading on climate action is a US$11 trillion opportunity for India : Deloitte
A new report from the Deloitte Economics Institute shows India must act now to prevent the country losing US$35 trillion in economic potential over the next 50 years due to unmitigated climate change. The report, titled, “India’s turning point: How climate action can drive our economic future”, also reveals how the country could gain $11 trillion in economic value instead over the same period, by limiting rising global temperatures and realising its potential to ‘export decarbonisation’ to the world.
“We have a narrow window of time – the next 10 years – to make the decisions needed to alter the trajectory of climate change. No one is immune to the impact of climate change, but for India this is a window of opportunity to lead the way and show how climate action is not a narrative of cost but one of sustainable economic growth. As India aspires to be a US$5 Trillion economy, it is not just foreign and domestic investments that will be key in driving growth, we must also take this opportunity to align our ambitions with climate choices,” says Atul Dhawan, Chairperson, Deloitte India.
Sensex closes 226 pts higher, Nifty at 16, 496; auto, realty top drags; IT gains
19 min read . Updated: 23 Aug 2021, 03:59 PM IST
Market closing: Sensex closed at 55,555.79, up 226.47 points or, 0.41%, while Nifty was at 16,496.45, up 45.95 points, or 0.28%. Auto, realty, metals were top drags
Sensex Rallies Over 400 Points; Metal, Banking Stocks Firm
HCL Tech, Tech Mahindra, TCS and Infosys have gained 1-3 per cent each on the BSE
The domestic stock markets have opened the week on a strong note in line with the global bourses, on the back of buying interest in metal and financial stocks. At 9:20 am, the BSE Sensex was trading at 55,719.50, higher by 392 points or 0.72 per cent and the Nifty was at 15,563.50, up 109.70 points or 0.66 per cent. The broader markets are also strong, with the BSE Midcap index and BSE Smallcap index gaining 0.7 per cent and 0.9 per cent each in early trading.
Asian markets were trying to pick up the pieces on Monday following last week’s thrashing as coronavirus concerns showed little sign of abating, while safe-haven flows benefited the dollar ahead of a key update on U.S. monetary policy.
Wall Street rallied to close sharply higher at the close of a tumultuous week on waning concerns over whether the US Federal Reserve could begin tightening its dovish monetary policy sooner than expected. The Dow Jones rose 0.64 per cent, the S&P 500 gained 0.81 per cent and Nasdaq Composite added 1.17 per cent.
On the stock-specific front, information technology shares are trading firm this morning. HCL Tech, Tech Mahindra, TCS and Infosys have gained 1-3 per cent each on the BSE. The financial space is also going strong, with Bajaj Finserv, Bajaj Finance and SBI gaining around a per cent each on the BSE.
On the other hand, Powergrid, Bajaj Finance, Hindustan Unilever and M&M have shed upto a per cent each on the BSE.
The BSE market breadth is even. Out of 2,791 stocks traded on the BSE, there are 1,366 advancing stocks as against 1,309 declines.