Business

Sensex Ends 5-Day Losing Streak as Metal and IT Sectors Weigh Down Performance

Published

1 year ago

February 26, 2025

The stock market closed off its highs on Tuesday, as late-session selling led to only minor changes in a volatile day of trading. At the end of the session, the Sensex gained 147.71 points, or 0.20%, finishing at 74,602.12, while the Nifty 50 marked its sixth consecutive day of losses, closing at 22,547.55.

Broader indices lagged behind, with the BSE Midcap and Smallcap indices falling 0.57% and 0.45%, respectively. The Nifty Midcap 50 also underperformed, finishing down 0.57%. Similarly, small-cap stocks trailed the Nifty 50, with the Nifty Small Cap 100 ending at 15,477.3, down 68.7 points, a decline of 0.44%.

In sector performance, Nifty Auto, FMCG, certain Financial Services, Media, and Consumer Durables indices posted gains of up to 0.84%. Conversely, the Nifty Metal, PSU Bank, IT, Realty, and Oil & Gas indices saw losses, with dips reaching as high as 1.54%. Hindalco, Nalco, and Vedanta all reported declines for the second consecutive session, contributing to a 1.2% drop in the Nifty Metal index.

Key players on the Nifty index included gainers such as Mahindra & Mahindra (2.53%), Bharti Airtel (2.50%), Bajaj Finance (1.60%), Nestle India (1.35%), and Bajaj Finserv (0.93%). On the downside, declines were noted in Hindalco Industries (3.50%), Dr. Reddy’s Laboratories (3.13%), Trent (2.09%), Sun Pharmaceutical Industries (1.58%), and Hero Motocorp (1.46%).

The Bank Nifty finished at 48,651.95, having reached an intraday high of 48,862.15 and a low of 48,534.15. Notably, shares of Tata Investment surged 8% following the approval of an IPO by the Tata Capital board, a move seen as favorable for the company.

Zomato shares increased by 1% after Bernstein upheld its ‘outperform’ rating, setting a target price of Rs 310 per share, which suggests a potential upside of 39%. Nestle’s stock rose over 1% after managing director Suresh Narayanan indicated the possibility of small price increases.

M&M shares rebounded with a 4% rise following a significant drop the previous week when they experienced their largest single-day decline in nearly seven months. IREDA’s stock climbed 4% after gaining shareholder approval to raise Rs 5,000 crore through a Qualified Institutional Placement (QIP).

In contrast, NMDC’s stock fell nearly 2% in intraday trading, marking its second consecutive decline. The ongoing market correction is primarily attributed to weak global cues, a faltering rupee, and concerns about economic growth losing momentum.

Please note that the Indian equity markets will be closed on Wednesday, February 26, 2025, in observance of Maha Shivaratri.

Business

Good News for Milk Producers in Chikkaballapur – 50 Paise Increase per Litre

Published

3 days ago

March 8, 2026

Namma Kudla

Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.

Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.

With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.

Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.

The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.

Business

Key Rules for Transferring Inherited Property

Published

3 weeks ago

February 15, 2026

Namma Kudla

Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.

Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.

If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.

Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.

Business

Does Bank Open Or close on February 14 in India?

Published

4 weeks ago

February 13, 2026

Namma Kudla

New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.

Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.

In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.

Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.