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Nifty Hits All-Time High, Crosses 20,000 Points

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Nifty closed at a record 19,996.35 on Monday. (File)

Mumbai:

Benchmark Sensex jumped by 528 points to regain the 67,000 level while Nifty scaled the record 20,000 mark for the first time as robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.

The successful G20 summit and buying in index majors Reliance Industries and HDFC Bank also added to the winning momentum in equities.

The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. During the day, it rallied 573.22 points or 0.86 per cent to 67,172.13.

The Nifty hit its all-time high of 20,008.15, a gain of 188.2 points or 0.94 per cent, in day trading. The 50-issue barometer closed just below the 20,000 mark at 19,996.35, reflecting gains of 176.40 points or 0.89 per cent.

“Nifty has finally managed to touch the much-anticipated 20,000 mark in the second attempt post-July 2023. Robust flows from local investors amidst mixed/negative flows from foreigners have helped Nifty achieve this landmark.

“Successful achievements recently in space and foreign diplomacy by India has boosted sentiments for Indian stocks generally in an era when the global situation is still shaky,” said Dhiraj Relli, MD & CEO, HDFC Securities Ltd.

Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers.

Bajaj Finance and Larsen & Toubro were the laggards.

“The domestic markets began the day on a positive note, bolstered by the historic consensus achieved at the G20 summit, which instilled confidence among investors. Higher-than-expected loan growth data and strong profitability along with lower NPA in PSU banks attracted investor interest.

“Additionally, expectations of easing inflation, driven by a decline in vegetable prices, fueled optimistic sentiment, leading to a market rally,” said Vinod Nair, Head of Research at Geojit Financial Services.

India on Saturday pulled off a big diplomatic win after the G20 summit adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending “global trust deficit”.

PM Modi also announced that African Union was admitted as G20’s permanent member.

In Asian markets, Seoul and Shanghai ended with gains while Tokyo and Hong Kong settled lower.

European markets were trading in the green. The US markets ended in positive territory on Friday.

Global oil benchmark Brent crude declined 0.23 per cent to USD 90.35 a barrel.

The BSE benchmark had jumped 333.35 points or 0.50 per cent to finish at 66,598.91 on Friday. The broader Nifty advanced 92.90 points or 0.47 per cent to settle at 19,819.95.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 224.22 crore on Friday, according to exchange data.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Albert Einstein's Rare Manuscript Explaining His Theories Set For Auction

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Albert Einstein's Rare Manuscript Explaining His Theories Set For Auction

Einstein had been commissioned to explain the development of his two most famous theories (File)

New Delhi:

A rare autographed manuscript by renowned physicist Albert Einstein explaining the development of his famous contributions to science — theories of special relativity (1905) and general relativity (1915) — is set to go under the hammer at Christie’s ’20th/21st Century Art Evening Sale’ on September 23.

The auction, expected to fetch around $980,000-1,400,000 (Rs 8.13-11.61 crore), will be held at the Waldorf Astoria Shanghai.

The manuscript, first published in a special supplement to the New York Times on 3 February 1929, is written in German. Einstein had been commissioned to explain the development of his two most famous contributions to science: the theories of special relativity (1905) and general relativity (1915).

“We are delighted to bring this important manuscript by the renowned scientist Albert Einstein to our Shanghai saleroom for the very first time. Given Einstein’s historical links with Shanghai, alongside the significant interest from Chinese collectors in scientific artifacts, our Shanghai saleroom is a fitting context in which to present this unique manuscript.

“We look forward to exciting global collectors and science enthusiasts with this remarkable piece of history, inextricably connected with Einstein’s groundbreaking contributions,” said Georgina Hilton, head of Classic Art, Christie’s Asia Pacific in a statement.

The 14-page manuscript holds tremendous significance as it recounts the history behind the discovery of relativity, explains its working, and looks to the possibility of completing the cycle of relativity in a ‘unified field theory’.

It includes two equations and a diagram illustrating the structure of the spacetime continuum, along with two pages of scientific formulae.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Rajkot International Airport Commence Flight Operations

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Rajkot International Airport Commence Flight Operations

Flights operations at the Rajkot International Airport in Gujarat commenced on Sunday.

Mumbai:

Flights operations at the Rajkot International Airport in Gujarat commenced on Sunday with the arrival of the first flight from Indore, the Airports Authority of India (AAI) has said.

The airport was inaugurated by Prime Minister Narendra Modi on July 27 this year.

The facility has been designed to handle 500 passengers during peak hours, with a plan to scale it up to 2,800 passengers during peak hours with annual passenger handling capacity pegged at 35 lakh passengers, the AAI said in a statement.

The state’s second international airport at Rajkot, connecting the western part of Gujarat, will provide direct connectivity for international travellers visiting the city and nearby areas of Saurashtra. The facility will boost trade, tourism, education and heavy and small-scale industries of the region, it stated.

Moreover, its 3,040-meter-long runway is equipped with an Instrument Landing System (ILS) for the facilitation of 24 X 7 operations, it said and added that the airport is suitable for parking 14 aircraft to cater to more flights.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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"Even My Corpse Will Not Go To BJP": Siddaramaiah

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'Even My Corpse Will Not Go To BJP': Siddaramaiah

My political life itself is for secularism, said Siddaramaiah. (FILE)

Mysuru (KTK):

Karnataka Chief Minister Siddaramaiah on Monday said even his “corpse” will not go to the BJP, as he outrightly rejected claims that he had made such an attempt in the past.

Noting that throughout his political life he has fought communal forces, the Chief Minister said, he might have met BJP leaders, but that doesn’t mean that he has sacrificed his ideologies.

“Is it possible for anyone to imagine it? My political life itself is for secularism and I have been fighting against communal forces all along,” Siddaramaiah said in response to a question about JD(S) leader HD Kumaraswamy’s statement that he had planned to join the BJP in the past and had met the BJP leaders in this regard.

Speaking to reporters, he said, “I might have met leaders…. I might have met Advani (BJP veteran LK Advani), recently I had also met Amit Shah (Union Home Minister)… even my corpse will not go to BJP. My politics has been against communal forces throughout, since socialist party times.” He said.

Mr Kumaraswamy is allying with the BJP for the sake of dynasty politics and is saying all this on the basis of someone’s statement.

“This much is certain that for no reason, whether I am in power or not, there is no compromise with communal forces. Just because I met leaders, it doesn’t mean I have sacrificed my ideologies.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Opinion: For Chandrababu Naidu's Bicycle, A Puncture Is All It Takes

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Former Andhra Pradesh Chief Minister Chandrababu Naidu would often take a jibe at every public meeting he addressed — that his political rival Jagan Mohan Reddy has spent time in jail.

For the YSRCP and its leader, it rankled.

Mr Naidu liked to say he was the upright one, who was among the first politicians to voluntarily declare his annual income and that of his family. He boasted that he was an apostle of truth and uprightness who stood for development of the state.

Now YSRCP leaders openly say it is payback time. Videos have spawned featuring an old video of Jagan Mohan Reddy saying he took a slap and his time will come.

That time, it seems, is now.

Chandrababu Naidu has been sent to jail by a special court in Vijayawada, which accepted prima facie evidence that he was the prime conspirator in a case of diverting government money to private entities.

There are videos of celebrations by YSRCP leaders and cadre, even though they were reportedly told not to celebrate.

The image of a 73-year-old politician, widely respected by the people, being sent to jail could evoke sympathy. That is a chance the YSRCP would not want to take.

Its leaders, however, say there is no question of sympathy for Mr Naidu.

They point out that when Chandrababu Naidu advanced elections in 2004 following a Maoist attack on his life, hoping to cash in on sympathy, he had lost to the Congress and YS Rajasekhar Reddy.

Telugu Desam leaders and cadre appear stunned and yet to figure out how to fight this onslaught. There were audio leaks of TDP leaders asking its cadre to come out and show their frustration.

But the YSRCP government has managed to stop the protests from turning violent and taking over headlines.

With elections just months away, the YSRCP versus TDP battle will be fought as much, if not more, in the public domain than inside courts — because public perception matters more in the theatre of politics.

This time, if Mr Naidu and his team are busy playing defence, trying to stay out of jail and trouble, putting up a full-fledged fight for victory in elections could become a challenge.

Politics in Andhra Pradesh is personal, vicious and nasty. It is a battle where punching straight and punching below the belt are practised routinely for political impact.

So while the technicalities are argued in court, it will be a free-for-all outside, with YSRCP calling the TDP names and the TDP accusing the YSRCP of playing dirty.

Both YSRCP and the TDP have their loyal following in Andhra Pradesh and so at political rallies, very often, there are clashes when the two come face-to-face. That is only likely to get worse.

Already, Chandrababu Naidu has spent five years out of power and for a regional party, that makes matters tough. Mr Naidu’s Telugu Desam was once a party with deep pockets, with many businessmen-turned-politicians providing it with the fuel to fight elections.

In the last few years, many of those friends in business parted ways with him as criminal cases filed by multiple Central agencies put their primary business interest in danger.

Mr Naidu made a costly mistake in 2018-19, when he split ways with the BJP and took on its leadership, demanding special category status for Andhra Pradesh. Many see it as a trap set for him by Jagan Mohan Reddy, who had played his cards carefully and cleverly.

Mr Naidu has realised that it does not pay to have powerful enemies and tried multiple times to extend a hand of friendship again towards the NDA. But the BJP was apparently not willing to forgive and forget.

For Mr Naidu, walking away from the tag of Remand Prisoner number 7691 at Rajamahendravam Central Jail is going to be tough because while the legal battle is fought, his political opponents will throw it at him at every possible opportunity.

YSRCP leaders are talking about how this is only the beginning. There is much more to come and not for Naidu alone. His son Nara Lokesh will be arrested soon, said state tourism minister Roja. The state CID chief had also hinted at questioning the former IT minister.

Less than two weeks ago, there were reports that Chandrababu Naidu had received notice from the Income Tax department that he had not disclosed Rs 118 crore income that he allegedly got as kickback from top infra firms Shapoorji Pallonji and L&T. The firms were awarded contracts worth thousands of crores in Amaravati when he was Chief Minister.

All that is going to make it tough-pedalling for Chandrababu Naidu. Given his age and a dearth of second rung leaders, it will be an uphill task for the bicycle. A puncture is all it takes.

(Uma Sudhir is Executive Editor, NDTV)

Disclaimer: These are the personal opinions of the author.

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Editorial: India’s moment of pride

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ndia’s strong support for AU’s entry adds momentum to the push for a more inclusive and representative G20

Published Date – 11:30 PM, Mon – 11 September 23

Editorial: India’s moment of pride — ndia’s strong support for AU’s entry adds momentum to the push for a more inclusive and representative G20

It was India’s moment of glory on the global stage. Overcoming the initial scepticism, it has pulled off a big diplomatic victory at the just-concluded G20 summit at a time when the international order is undergoing a churning process with rapidly shifting geopolitics. Hosting the mega event, attended by leaders from 29 countries representing the world’s most powerful economies and heads of 14 international organisations, New Delhi has delivered a major victory in areas that were thought to be intractable. The key takeaway has been the successful finalisation of the consensus communique — Delhi Declaration — which had eluded the previous summits because of the bitter division among the members over the Ukraine war. The final statement, mirroring a nuanced position without hurting the nations on either side of the divide, reflected the triumph of India’s stewardship and a crowning moment for its diplomacy. This is significant because the grouping was divided on the Ukraine war, with Russia and China on one side wanting to avoid even a discussion on the issue while the western nations were rooting for a strong language to condemn Russia. Eventually, a compromise was brokered that significantly toned down criticism of Russia. Prior to the summit, it was widely believed that India would not be able to forge a consensus on the contentious Ukraine crisis. The Declaration also addressed key global issues — without ruffling any feathers — including climate change, gender equality, financial inclusion, terrorism and money laundering. Admitting the African Union, a regional block of 55 member states, into the G20 has added another feather to India’s crown and strengthened its standing as a voice of the Global South.

The African Union’s entry was proposed by Prime Minister Narendra Modi in June and it was befitting that he welcomed AU chairperson Azali Assoumani to take the seat as a full member at the start of the New Delhi summit. India, over the past few years, has actively established itself as a prominent advocate of the Global South, highlighting its difficulties and aspirations. India’s strong support for AU’s entry adds momentum to the push for a more inclusive and representative G20. It aligns with India’s vision to foster a multipolar world and a more equitable international order. India and Africa have long-standing trade and economic linkages. The ties have been on the upswing amid China’s efforts to expand its influence. The initiative to back the AU’s G20 bid is not just symbolic but also strategic. The G20 elevation marks a significant stride for Africa’s global presence. The G20, which currently represents 65% of the world’s population, would now speak for about 80% of the global citizens. Within the continent itself, there are concerns over the AU’s lack of political cohesiveness and the multiplicity of regional economic committees. However, these could turn out to be only minor irritants in the long run.

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Rainstorms hit south China, forcing evacuation of over 13,000 people

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Rainstorms swept through parts of south China’s Guangdong and Hainan provinces, inundating roads and causing the evacuation of over 13,000 people.

Heavy rainfall started in Sanya City of Hainan at wee hours on Sunday, leading to waterlogging on certain roads.

On Sunday, the average precipitation in Sanya reached 123.9 millimeters.

At about 09:00 on Sunday, a bus with 19 people on board was stranded on an inundated road in Tianya District, with the water level reaching as deep as 80 centimeters.

Firefighters rushed to the site and managed to help all the people trapped in the bus out thorough a window.

On the same day, firefighters also successfully evacuated several residents in Jiyang District with rubber boats.

Under the lingering impact of Typhoon Haikui, Yangjiang City in Guangdong has seen persistent rainstorms in recent days, resulting in an average precipitation of 155.2 millimeters within a 24-hour period as of 18:00 on Sunday.

Local authorities have raised the emergency response for flood control to Level II, the second-highest level in the response system, and stepped up effort on reservoir regulation to safeguard the lives and property of downstream residents.

“We are currently on a 24-hour duty, and closely monitoring the water levels of downstream rivers. We have formulated dispatch plans to ensure the utmost safety of reservoirs and to protect the lives and property of people residing downstream,” said Li Tao, director of the Dahe Reservoir Management Center of Yangjiang.

A total of 13,200 people had been evacuated in 48 districts and towns of Yangjiang as of 17:30 on Sunday.

(Source: Reuters)

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Asia Cup: Kohli, Rahul, Kuldeep Steer India To 228-Run Win Over Pakistan

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Virat Kohli‘s supreme fitness was evident in his 47th ODI century while comeback man KL Rahul produced an equally engaging ton on comeback as India thrashed a listless Pakistan by record 228-run margin in a rain-marred Super Four game of the Asia Cup on Sunday. This is India’s biggest win in terms of runs against the cross-border neighbours. India posted an imposing 356 for 2, as Kohli (122 not out off 94 balls) and Rahul (111 not out off 106 balls), which was his sixth ODI hundred, pummelled a hapless Pakistan, whose chase ended at 128 for 8 as Kuldeep Yadav (5/25) scythed through them.

On the century count in ODIs, Kohli now stands just two behind Sachin Tendulkar‘s record 49.

Once India restarted the day from 147 for 2 in 24.1 overs, they needed Kohli and Rahul, the two overnight batters, to go big, and they did that in some style.

Along with Rahul, Kohli amassed 233 runs for the unbeaten third wicket stand – the highest ODI partnership for India against Pakistan.

En route to his 77th international century, Kohli also added some personal milestones to an already long list, becoming the fastest batsman to 13000 ODI runs and scoring his fourth ton in as many innings at the R Premadasa Stadium.

Kohli is only the second batter to achieve the feat of scoring four successive hundreds at a venue after South Africa’s Hashim Amla, who made this sequence at Centurion.

However, Rahul’s hundred was equally important from a team’s perspective.

Rahul, who was playing for India for the first time since earlier this March after an injury lay-off, batted for 141 minutes without any discomfort, and later kept wickets to underline his return to full fitness.

Beyond the cold realm of numbers, the knocks of Kohli and Rahul carried immeasurable aesthetic value.

The ball was coming onto the bat nicely, and Pakistan attack was also defanged in the absence of injured Haris Rauf, who had brought in a semblance of control the previous day with a quick spell.

Barring Naseem Shah, none of the other four Pakistan bowlers managed to even beat Kohli and Rahul, who batted with a lot of panache. Kohli took his time to get going, allowing Rahul to do the early running.

But once he went past 50, Kohli switched the gears seamlessly, as he often does.

The first indication of a transformed Kohli came when he caned pacer Faheem Ashraf through the covers for a four. Kohli brought his quick hands into play to pounce on a length ball on the off-stump, and from that point he seldom looked back.

His first fifty had come in 55 balls, and the remaining 72 runs cascaded in just 39 balls, as Pakistan bowlers were put through the wringer. Sensing the mood that Kohli was in, Rahul slightly took his feet off the pedal.

The 31-year-old knew a big score was there for the taking and he just needed to keep his focus right on the button.

Pakistan bowlers erred in length against Rahul, giving him enough space outside the off-stump and the Bangalore man exploited it to the hilt to get some easy boundaries.

Four of his 12 boundaries came between point and third man and he collected a total of 24 runs from that region, the most productive in his innings.

After allowing Rahul to soak in his hundred, Kohli too went past the mark with a single and celebrated his own moment with gusto – a jump and punch in the air. Kohli, perhaps, saved his best for the last.

In the 50th over, the former captain carted Ashraf for two overs, a paddle sweep and a strike over cover, and applied the finishing touches with a whistling six over long-on.

Indian bowlers did not have to do anything extraordinary as they were defending 357, and the highest-ever run chase at this venue was 292.

Pacer Jasprit Bumrah, who was bowling in an ODI for the first time since July 2022, gave India the perfect start, sending Imam-ul-Haq into the hands of Shubman Gill at second slip.

Hardik Pandya breached the defence of Pakistan captain Babar Azam with a delivery that shaped in just that bit.

Kuldeep, India’s best bowler in ODIs this year, hastened their fall as the left-arm wrist spinner bamboozled the Pakistan middle and late order with his endless variations.

The injured Rauf and Naseem Shah did not come out to bat as Indian bowlers were not even required to strive for 10 wickets.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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