Sensex, Nifty Rise To Fresh Highs, Wipro, Infosys In Limelight

Sensex, Nifty Rise To Fresh Highs, Wipro, Infosys In Limelight

Sensex, Nifty Rise To Fresh Highs, Wipro, Infosys In Limelight

Positive trading in most Asian markets and China's robust economic growth in June quarter boosted market sentiment.

Asian stocks set a fresh two-year high on Monday, boosted by stronger-than-expected economic growth in China and bets that lacklustre United States data will keep the Federal Reserve cautious about the pace of further policy tightening.

Back home, Wipro led gains, rising 3.1 percent after saying it's considering a buyback.

Gujarat HC dismisses Essar Steel's plea against RBI
According to the RBI, top 12 bad loan accounts make up for Rs 2.5 lakh crore of bad debts, or 25% of the total. Gujarat's Advocate General Kamal Trivedi appeared for Standard Chartered Bank; He was briefed by Singhi & Co.

Market heavyweight Reliance Industries crossed the Rs 5 lakh crore market capitalization for the first time ever before closing about 1 percent higher. The 30-share BSE Sensex gained 54.03 points to close at 32,074.78 while the broader 50-share NSE Nifty closed at 9,915.95, up by 29.60 points.

The BSE realty index came out on the top with a gain of 1.28 per cent.

Shares of third largest IT services firm Wipro rose over 3% in the early trade on Monday after the firm on Friday said its board will consider a proposal for buyback of equity shares on July 20.

Legendary Director George A. Romero Dead at 77
Ironically, the creatures in the film are never once called zombies; in the script, Romero merely referred to them as "ghouls". Romero is best remembered for his zombie films, a genre he helped pioneer with the 1968 masterpiece Night of the Living Dead .

Meanwhile, Fortis Healthcare Ltd and Religare Enterprises Ltd fell as much as 12.8 percent and 8.9 percent, respectively after India Ratings and Research downgraded some non-convertible debentures (NCDs) and loans held by RHC Holding Pvt Ltd, which owns shares in Fortis and Religare, to default levels of "IND D" and "IND C".

In other news, Vikram Limaye took over as managing director and chief executive officer of the National Stock Exchange (NSE).

Globally, China's blue-chip CSI300 index ended the day 1.1 per cent down at 3,663.56, while the Shanghai Composite Index plunged1.4 per cent to 3,176.46 even as the country's GDP grew by 6.9 per cent exceeding market expectations.

New IBM Z mainframe takes on encryption
The industry just gained another ally in the global fight against cybercrime with the launch of the new IBM z14 mainframe. There can be up to 32TB of memory, three times the z13 maximum, and its IO is three times faster as well.

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