Sensex Drops Over 350 Points From Day's High Amid Choppy Trade
- A selloff across sectors, led by banking and financial services shares, pulled the markets lower. At 11:54 am, the Sensex traded at 38,308.53, down 48.65 points - or 0.13 per cent - from its previous close, while the Nifty was down 1.75 point - or 0.02 per cent - at 11,332.10. (Also Read: Markets Could Be Heading Into Consolidation, Say Analysts)
- Mahindra & Mahindra, GAIL, UPL, NTPC and Cipla, trading between 1.99 per cent and 3.63 per cent lower, were the worst hit among the 28 shares in the 50-scrip Nifty basket.
- On the other hand, Bharti Airtel, HUL, HDFC Life, TCS and Axis Bank, trading between 1.25 per cent and 3.70 per cent higher, were the top gainers.
- HDFC Bank, Reliance Industries and Mahindra & Mahindra were the biggest drags on Sensex, together accounting for a more than 90-point loss in the index.
- Market breadth turned negative in late morning deals, as 1,075 stocks on the BSE traded higher, against 1,355 that moved in the opposite direction. On the NSE, 751 shares advanced while 1,032 declined.
- Vodafone Idea shares rose as much as 10 per cent, after the company scheduled a media announcement at noon. On Friday, it had said it would raise up to Rs 25,000 crore in fresh funds as it tries to pay off hefty dues it owes to the government.
- Bengaluru-based Happiest Minds' initial public offer (IPO) opened for subscription on Monday, marking the first public issue by an IT company in four years.Â
- Share markets elsewhere in Asia shares were on the defensive as investors grappled with sky-high valuations against the backdrop of a global economy struggling against a coronavirus-induced recession.
- MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 0.11 per cent lower, after two days of losses toppled it from a two-and-a-half-year peak last week. Japan's Nikkei 225 benchmark was down 0.31 per cent.
- The E-Mini S&P 500 futures traded 0.32 per cent lower, indicating a negative start for Wall Street on Tuesday, as the US markets will remain shut on Monday for a public holiday.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
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Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
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India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
