Sensex closes 1,030 points higher, trading at NSE resumes after glitch

Agencies
February 24, 2021

Sensex zooms 1,030 points, Nifty tops 14,950 at closing | Deccan Herald

Mumbai, Feb 24: Equity benchmark indices jumped by nearly 2 per cent on Wednesday with banking and financial stocks gaining substantial ground.

The BSE S&P Sensex closed 1,030 points or 2.07 per cent higher at 50,782 while the Nifty 50 advanced by 274 points or 1.86 per cent to 14,982.

At the National Stock Exchange (NSE), trading in all segments remained halted for several hours due to a technical problem. As a result, trading at both the stock exchanges was extended.

Except for Nifty IT, which slipped marginally, all sectoral indices were in the green zone with Nifty private bank gaining by 3.8 per cent, financial services by 3.4 per cent and PSU bank by 2.8 per cent.

Private banks gained substantially after the Finance Ministry allowed private sector banks for government related transactions.

Among stocks, HDFC Bank advanced by 5.3 per cent to Rs 1,611.05 per share. Axis Bank was up by 5.1 per cent, ICICI Bank by 3.8 per cent and Kotak Mahindra Bank by 2.4 per cent.

State Bank of India ticked up by 3 per cent and Bajaj Finance by 3.3 per cent. Coal India gained by 5.2 per cent to Rs 144.10 per share while infrastructure major Larsen & Toubro gained by 2.5 per cent.

The other major gainers were HDFC and UltraTech Cement. However, those which lost were UPL, Dr Reddy's, Sun Pharma, Cipla, JSW Steel, Tata Motors and Asian Paints.

Meanwhile, Asian equities opened lower on concerns about rising interest rates and rich equity valuations.

South Korea's Kospi shed 2.45 per cent on valuation nerves while Japan's Nikkei 225 was down by 1.61 per cent on profit booking in tech shares.

Hong Kong shares slumped by 2.99 per cent, the most in nine months, on stamp duty hike.

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News Network
February 11,2025

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Addressing the AI Action Summit in Paris, Prime Minister Narendra Modi stressed that AI is writing the code for humanity in this century.

"I am grateful to my friend President Macron for hosting this summit and for inviting me to co-chair it. AI is already reshaping our economy, security and even our society. AI is writing the code for humanity in this century...," PM Modi said.

Giving a simple experiment, he said, "If you upload your medical report to an AI app, it can explain in simple language, free of any jargon what it means for your health. But if you ask the same app to draw an image of someone writing with their left hand, the app will most likely draw someone writing with their right hand...".

He also stressed on the need for open source systems that enhance transparency.

"Governance is also about ensuring access to all, especially in the Global South. It is where the capabilities are most lacking be it power, talent, or data for the financial resources. AI can help transform millions of lives by improving health, education, agriculture and so much more. It can help create a world in which the journey to sustainable development goals becomes easier and faster. To do this, we must pull together resources and talent. We must develop open-source systems that enhance trust and transparency. We must build quality data sets free from biases...," the Prime Minister said.

Highlighting AI's potential to shape humanity's future at Paris summit, PM Modi said, "We are at the dawn of the AI age that will shape the course of humanity." 

Hailing India's digital revolution, PM Modi said, "India has successfully built a digital public infrastructure for over 1.4 billion people at a very low cost. It is built around an open and accessible network. It has regulations and a wide range of applications to modernise our economy, reform governance and transform the lives of our people...Today, India leads in AI adoption and techno-legal solutions on data privacy...We have one of the world's largest AI talent pools."

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News Network
February 6,2025

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Udupi: In the serene town of Shirva Manchakal, Udupi district, a profound sorrow has enveloped the community. Rakesh Kamath, a dedicated chartered accountant, aged 32, has tragically passed away on February 5 at Manipal Hospital, Bengaluru, following a brief illness.

A devoted son of businessman Balakrishna Kamath, he had recently journeyed to Hyderabad for professional commitments. He was employed at a private firm in Bengaluru.

Upon his return, he fell ill. Despite medical intervention and initial signs of recovery, his condition suddenly worsened, leading to his untimely collapse. 

His wife acted swiftly, admitting him to Manipal Hospital, but despite all efforts, he did not respond to treatment and departed from this world.

He leaves behind his beloved wife, CA Shruti, along with a multitude of relatives and friends who now mourn the loss of a vibrant soul taken too soon. 

The community stands in solidarity with the grieving family during this heart-wrenching time.

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News Network
February 5,2025

Belagavi: In a horrific act of rage, a man brutally stoned his wife to death at Upparatti village in Gokak taluk of Karnataka on Tuesday night. 

The accused, Balaji Kabali from Maharashtra, has been arrested, police said.

Kabali, along with his wife Meerabai (25) and family, worked as sugarcane harvesters. Following a heated altercation, he fatally attacked Meerabai before making video calls to relatives.

A heartbreaking scene unfolded as their two-year-old child was seen trying to wake up his mother, unaware of the tragedy.

Authorities have launched a detailed investigation into the incident.

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