Sensex rises over 200 pts on firm global cues

Browns’ Damarious Randall ejected for hit that made Steelers WR Dionate Johnson bleed from ear

CLEVELAND – Adding injury to insult, Cleveland Browns safety Damarious Randall was ejected from Thursday night’s game against the Steelers after a vicious hit on Pittsburgh rookie receiver Diontae Johnson.

The play occurred in the third quarter with the Browns leading 14-0. Steelers quarterback Mason Rudolph tried to connect with Johnson deep down the sideline, but Randall teed off on the wideout on a helmet-to-helmet blow after the ball had gone through the target's hands. Johnson, who was later ruled out with a concussion, could be seen bleeding from the ear following the play.

Randall’s ejection left the Browns thin on the back end after fellow safety Morgan Burnett was ruled out with an Achilles injury. The Steelers subsequently capitalized with their first scoring drive of the night, Rudolph swinging a 3-yard TD pass to Jaylen Samuels after a pass interference call finally allowed Pittsburgh to penetrate Cleveland’s red zone.

However depth appeared to be a much bigger problem for the Steelers, who also lost running back James Conner, apparently with a re-injured shoulder, wideout JuJu Smith Schuster (concussion), cornerback Artie Burns (knee) and linebacker Ola Adeniyi (concussion).

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Rupee rises 18 paise to 71.78 vs USD in early trade

The Indian rupee appreciated by 18 paise to 71.78 against the US dollar in early trade on Friday as gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas strengthened investor sentiments.

At the interbank foreign exchange the rupee opened at 71.80 then gained further ground and touched a high of 71.78, registering a rise of 18 paise over its previous close.

On Thursday, rupee had settled for the day at 71.96 against dollar.

The domestic unit however could not hold on to the gains and was trading at 71.86 against the dollar at 1008 hrs.

Higher opening in domestic equities supported the local unit, forex traders said.

Domestic bourses opened on a positive note on Friday with benchmark indices Sensex trading 212.50 points higher at 40,498.98 and Nifty up 53.20 points at 11,925.30.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.03% to 98.13.

Market participants, however, said sustained foreign fund outflows and rising crude oil prices weighed on local currency.

Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out ₹562.05 crore on Thursday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.43% to trade at USD 62.55 per barrel.

The 10-year government bond yield was at 6.52% in morning trade.

Uber co-founder Travis Kalanick has dumped more than $700 million in stock since last week

Former Uber Technologies Inc. CEO Travis Kalanick is taking advantage of his first opportunity to cash out of the company he co-founded since its initial public offering, dumping more than $700 million in stock since last week.

According to filings with the Securities and Exchange Commission, Kalanick sold about $547 million of Uber shares last week, and another $164 million of shares so far this week, for a total sell-off of around $711 million.

Nov. 6 marked the end of the 180-day lockup period for Uber’s early investors following the ride-hailing company’s IPO in May. Uber shares UBER, -2.70%  sank to record lows immediately after that, and have fallen nearly 40% since going public.

Kalanick was ousted as CEO in 2017, but is still on the board of directors.

But despite the hefty sale, he’s not even close to cashing out entirely. As of Wednesday, Kalanick still owns more than 71 million Uber shares, worth about $1.8 billion.

At its current stock price of $26.05 a share, Uber’s market cap is about $45.6 billion.

Kalanick sold almost a third of his Uber shares to SoftBank Group in January 2018, for about $1.4 billion.

Since leaving Uber’s top spot, Kalanick has launched an investment fund and focused on a food-delivery startup, called CloudKitchens.

Sensex rises over 200 pts on firm global cues

Top gainers in the Sensex pack included SBI, Tata Motors and ICICI Bank

Equity benchmark BSE Sensex jumped over 200 points in early trade on Friday tracking gains in banking, auto and energy stocks amid positive cues from global markets.

The 30-share index was trading 206.79 points, or 0.51%, higher at 40,493.27, while the broader NSE Nifty rose 55.05 points, or 0.46%, to 11,927.15.

Top gainers in the Sensex pack included SBI, Tata Motors, Bharti Airtel, Vedanta, ICICI Bank, Kotak Bank, Tata Steel, M&M, HCL Tech and Sun Pharma, rising up to 3%.

On the other hand, HDFC, NTPC, Axis Bank and Bajaj Auto fell up to 0.43%.

On Thursday, the Sensex ended 170.42 points, or 0.42%, higher at 40,286.48. Similarly, the broader NSE Nifty rose 31.65 points, or 0.27%, to end at 11,872.10.

Foreign institutional investors offloaded shares worth ₹562.05 crore in the capital market in the previous session, while domestic institutional investors purchased equities worth ₹82.74 crore, data available with stock exchange showed.

Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a positive note amid reports that the first-phase of trade talks between the US and China is in its final stage.

Stock exchanges on Wall Street ended on a mixed note on Thursday.

On the currency front, the rupee appreciated 14 paise (intra-day) against the US dollar to trade at 71.82 in early session.

Brent futures, the global oil benchmark, rose 0.45% to USD 62.56 per barrel.