Business & Finance

Indian Stock Market: Sensex, Nifty Recover From Early Losses In Volatile Trade

Stock market

 IT Stocks Support Market While Financials Drag, Nifty IT Rises Nearly 1% Oil & Gas Stocks Like ONGC & Oil India Surge, Tracking Higher Crude Prices Metal Stocks Rebound On China Easing COVID Rules.

 New Delhi: Indian equity benchmarks on Tuesday settled higher in volatile trade, extending their winning run for the fourth straight session. The domestic indices reversed their early session losses as Asian stocks turned positive after China slashed the Covid-19 quarantine time for inbound travelers by half. Quarantine at centralized facilities in Beijing has been reduced to seven days from 14.

However, a rise in crude oil prices after last week’s rout, fanning inflation worries, kept gains in check. Brent crude futures climbed $1.77, or 1.54 percent, to $116.86.

Mid- and small-cap shares closed on a mixed note as Nifty Midcap 100 climbed 0.29 percent lower and small-cap shed 0.34 percent.

 IT Stocks Support Market While Financials Drag, Nifty IT Rises Nearly 1% Oil & Gas Stocks Like ONGC & Oil India Surge, Tracking Higher Crude Prices Metal Stocks Rebound On China Easing COVID Rules.

Hindalco surged  4% M&M Continues The Gaining Momentum, Stock Closes At A Record High Fall In Titan Continues.

 

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Politics

Mumbai: 3 Dead Several Injured, Four-Storey Building Collapsed In Kurla

Aleesha Sam

The accident occurred at midnight on Monday, leaving more than 10 injured

Mumbai: A four-story building fell late on Monday night at Naik Nagar in Kurla East, Mumbai, leaving at least three dead and ten more injured.

According to police, those who sustained injuries were taken immediately to the government-run Rajawadi and Sion hospitals. At Rajawadi Hospital, two men were pronounced dead, and the third man died from his wounds at Sion Hospital.

Local councilwoman Pravina Morajkar voiced alarm that there may be more people trapped under the rubble. Rescue and relief operations are underway.

At 11.50 p.m., the incident occurred, after Mumbai’s first substantial rainfall of the year.

For rescue operations, the fire service sent out seven vehicles, two rescue vans, and ambulances.

The Brihanmumbai Municipal Corporation (BMC) had been urged by the officials to send haulers and excavators for assistance in the rescue operation.

“This is a colony of four dilapidated buildings and they were given notices to vacate five to six years ago. Yet, the residents continued to stay,” said legislator Pravina Morajkar.

The collapsed building has been identified as the collector’s property; a ground-plus-three-floor building in Naik Nagar Society on Shivshruti Road, behind the ST depot.

According to reports, the structures next to the fallen building are likewise in a poor state and might collapse at any moment.

The Brihanmumbai Municipal Corporation (BMC) had been requested by the fire department to send dumpers and excavators to assist with the rescue operation.

On Tuesday morning, Morajkar commented that the tenants in the nearby buildings will soon be moved out to a safer structure by the BMC. She added that BMC had warned the tenants previously to move out.

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