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BusinessPhoto: Amar Business

Sensex Rises 1,534 Points, Nifty Nears 23,000 on Strong Rally

The Indian stock market saw a strong rally on Thursday, with the Sensex surging 1,533.72 points to close at 74,315.61, a 2.10% gain. The Nifty rose 374.65 points to 22,997.35, up 1.66%. Tech stocks gained 5% ahead of Q2 results, boosting investor sentiment. The rupee strengthened by 13 paise to 95.04 against the dollar. Auto and IT stocks led the rally, while PSU banks and metal stocks faced selling pressure amid mixed sector performance.

Amar Business·

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BusinessPhoto: News18Hi Business

Jio's EBITDA Reaches ₹76,000 Crore Ahead of IPO: Akash Ambani

Akash Ambani stated that Jio's EBITDA has reached ₹76,000 crore before its IPO. The company has maintained a growth rate of around 18% over the past three years. Jio's strategy focuses on customers, emphasizing affordable digital services, a goal it has successfully achieved since its inception by prioritizing low-cost data.

News18Hi Business·

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EntertainmentPhoto: TOI World

Isaiah Zagar's Philadelphia Magic Gardens Saved in 2004

Philadelphia's Magic Gardens, created by Isaiah Zagar, is a 3,000-square-foot mosaic maze made from found objects reflecting his artistic journey. In 2004, local advocates formed a nonprofit to save the site from demolition. Zagar continued adding imaginative tunnels and mosaics until his death in 2026, enriching this vibrant artistic landmark.

TOI World··Philadelphia

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BusinessPhoto: HT World

US Treasury Yields Fall as Investors Await Inflation Data

US Treasury yields declined on Thursday as investors sought safer assets amid economic uncertainty. The 10-year Treasury yield dropped below 5.11%, falling more than 8 basis points to 5.102%. The 30-year yield also fell by over 8 basis points to 5.439%, and the 2-year yield decreased by more than 5 basis points to 4.751%. Investors sold some tech stocks and moved funds into government bonds while awaiting inflation data to gauge the US economy's direction.

HT World·

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BusinessPhoto: Mint

Government Offers Startups Up to ₹50 Crore for New Drug Discovery

The Indian government has launched the Promotion of Research and Innovation in Pharma & MedTech scheme with a total budget of ₹5,000 crore. This includes ₹700 crore to establish Centers of Excellence at seven National Institutes of Pharmaceutical Education & Research and ₹4,200 crore to boost investments in research and development, offering startups up to ₹50 crore for new drug discovery.

Mint·

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PoliticsPhoto: The News Minute

Tamil Nadu Faces Political Row Over Rs 37 Per Unit Power Cost

Tamil Nadu's government decision to buy power at Rs 37 per unit, the highest ever in the state, has sparked political controversy. The Tamilaga Vettri Kazhagam government attributes the high cost to a 30% surge in peak power demand due to an extended summer caused by El Niño. Critics question planning and compare it to Andhra Pradesh's earlier measures to manage similar demand.

The News Minute··Tamil Nadu

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