Sensex manages to end in green

In a volatile week,the BSE benchmark Sensex managed to end in the positive territory on Budget expectations and global cues.

The BSE benchmark Sensex resumed higher at 16,186.90 on Monday due to buying support but fresh selling in key blue-chip counters on lack of direction,as most of the Asian markets were closed and fears of stimulus rollback by the government pulled it down to 16,011.82.

Wholelesale price-based inflation rose to 8.56 per cent in January from 7.31 per cent in December,shooting past RBI’s forecast of 8.5 per cent for this fiscal,giving impetus for the apex bank to tighten its monetary policy.

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However,the Sensex recovered to its week-high at 16,480.89 due to buying in select counters on strong Asian cues.

Asian stocks firmed up following good earnings reports of Australian companies,which boosted confidence that economic conditions were improving with Barclays results beating market expectations.

Repeated statements from Finance Minister Pranab Mukherjee that India’s economy is poised to grow by 7.5 per cent this fiscal and will top eight per cent in the next on the back of a strong industrial recovery,too aided the sentiment.

Finally,the Sensex ended at 16,191.93 against last weekend’s level of 16,152.59,disclosing a marginal gain of 39.04 points or 0.24 per cent.

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‘Violence in Nepal is heart-rending’: PM Modi expresses concern as KP Sharma Oli resigns

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Prime Minister Narendra Modi showed worry about the turmoil in Nepal and stressed the need for peace and stability. The Nepal Army and security officials called for dialogue to restore order amidst growing protests and the resignation of Prime Minister K P Sharma Oli. The Indian government issued a safety advisory for Indian citizens, advising against travel until the situation improves.

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