Read more about Sensex, Nifty hit day s high on Business Standard. The domestic equity benchmarks were currently at the day s high in the second half of the extended trading session. Trading resumed at 15:45 IST on the NSE.
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Sensex up over 1000 points, Nifty above 14,900 after glitch; Banks s fuel the rally
The 30-share pack Sensex closed at 50,781.69, up 1,030 points or 2.07 per cent. Nifty-50 closed at 14,982, up 274 points or 1.86 per cent.
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Indian markets on Wednesday, February 24 stressed the market participants as trading activities in NSE (National Stock Exchange) were halted due to a technical glitch. However, all segments in the BSE & NSE were operational in the extended market hours from 3:30 pm IST.
After resuming, markets witnessed a massive rally backed by banking stocks which led the BSE Sensex to close above 1000 points and the Nifty Banking index also adding 1400 points.
NEW DELHI:
Aditya Birla Fashion and Retail Ltd has partnered with fashion designer Tarun Tahiliani to form a new entity that will soon launch a contemporary men s ethnic wear brand. Aditya Birla Fashion and Retail Ltd (ABFRL) has announced a strategic partnership with India s ace designer Tarun Tahiliani to form a new entity that will soon launch a contemporary men s ethnic wear brand. The new brand will operate in the premium occasion wear segment and will offer the entire range of high quality, sophisticated celebration wear for men at accessible price points, the company said in a regulatory filing. ABFRL will hold 80 per cent stake in the new entity, while Tarun Tahiliani will hold the remaining 20 per cent.
Ecommerce accounts for nearly a third of several electronic categories, research shows
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E-commerce contribution to total FMCG sales touched an all-time high of 2.8% in 2020 up from 1.9% a year back. Large manufacturers like Hindustan Unilever, ITC, Nestle and Marico have said their e-commerce contribution has more than doubled in 2020 to around 5-6% of total sales.
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Company CEOs and trackers said the shift to e-commerce last year might be permanent for most of the categories.
Ecommerce now accounts for nearly a third of several electronic categories, almost half of smartphones sold and about a fifth of all apparel sales in India, increasing at their highest pace in 2020 when most consumers hunkered down in their homes due to Covid related restrictions and feared shopping at brick-and-mortar stores, as per just released data by researchers GfK, Nielsen, IDC and company officials.
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