Sensex Gains Over 300 Points; TCS Bucks Trend As IT Stocks Fall (October 7)

Stock Market Updates: Gains in auto, energy and select financial stocks pushed the markets higher

Domestic share markets rebounded after initial losses on Wednesday tracking Asian equities, which climbed to the highest level in two weeks. The S&P BSE Sensex index rose 368.74 points – or 0.93 per cent – to touch 39,943.31 at the strongest level recorded during the session, and the broader NSE Nifty 50 benchmark climbed to as high as 11,751.50, up 89.1 points – or 0.76 per cent – from its previous close. Gains in auto, energy and select financial stocks pushed the markets higher, but losses in IT shares limited the upside. (Track Sensex, Nifty)

At 1:22 pm, the Sensex traded 309.26 points – or 0.78 per cent – higher at 39,883.83, and the Nifty was up 75.90 points – or 0.65 per cent – at 11,738.30.

Titan, Reliance Industries, Bajaj Auto, UltraTech Cement and

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Wage gains, bonuses, shorter grow-in period

Editor’s note: All figures in Canadian dollars. As of Sept. 27 $1 U.S. equals $1.34 Canadian.

Unifor members were set to begin a ratification vote today that will decide whether the union’s tentative contract with Ford Motor Co. goes into effect.

The three-year deal includes a commitment from Ford to invest $1.8 billion in its Oakville, Ontario, plant to begin building battery-electric vehicles by 2026, following a retooling in 2024, according to a document posted on Unifor’s website. Wage gains for members include a two-year reduction in the contentious 10-year wage grow-in period, two $2,000 “inflation protection” bonuses, a $7,250 “productivity and quality bonus” and two general wage increases of 2.5 percent for workers at the full pay rate, according to the union.

“This is one of the most significant investment announcements in Canadian automotive history, and is a game-changer for the Canadian auto sector,” union leaders said in

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