Sensex turn flat after reclaiming 52k: Key factors driving D-St today
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Last Updated: Jun 01, 2021, 11:51 AM IST
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The ongoing bull run in the market has taken even the incorrigible optimists by surprise. FIIs, regarded as smart investors, have been caught on the wrong foot.
The fact that India VIX is at a 52- week low also indicates the resilience of the market, said an analyst.
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NEW DELHI: Buying in bank and auto stocks lifted benchmark indices to another high on Tuesday as better-than-expected GDP numbers gave hopes to investors but soon profit booking kicked in and indices turned flat.
Read more about Defence stocks rally as MoD puts 108 items on import ban list; BEL up 6 % on Business Standard. The MoD, on Monday, announced a list of 108 items of defence equipment that must be compulsorily procured from indigenous sources according to provisions in the Defence Acquisition Procedure 2020
Faced with depleting strength of its fighter squadron, the Indian Air Force on Wednesday issued the request for proposal (RFP) to state-run aerospace behemoth Hindustan Aeronautics Limited for the procurement of 83 Tejas light combat aircraft at a cost of over Rs 50,000 crore.
Hindustan Aeronautics, Bharat Dynamics, BEML and Bharat Forge gained up to 5 per cent each
The shares of defence equipment makers were hogging the limelight in a subdued market on Tuesday, a day after the Ministry of Defence (MoD) announced a Positive Indigenisation List of 108 defence equipment that must be compulsorily sources locally. Among individual stocks, Hindustan Aeronautics surged 5 per cent to Rs 1,069.15, Bharat Dynamics was up 4.5 per cent, BEML was up 1.7 per cent, Bharat Forge gained 1.3 per cent and Mazagon Dock Shipbuilders added 1.6 per cent on the BSE.
On Monday, the Ministry of Defence announced that 108 defence equipment must be necessarily sourced indigenously as per Defence Acquisition Procedure 2020. Under the list, a total of 49 items will be banned for import after December, 21 cannot be imported after end-2022, 17 items will be banned after December 2023, 13 after December 2024 and eight after December 2025.