Sensex, Nifty Erase Gains After Hitting Record Highs
The S&P BSE Sensex and NSE Nifty 50 indexes erased gains after hitting record highs earlier in the session paced by losses in Zee Entertainment, Bharti Infratel, Grasim Industries, Bharti Airtel, JSW Steel, Sun Pharma, Wipro and Power Grid. Earlier in the day, the benchmarks opened at record highs wherein the Sensex climbed above 41,000 for the first time and Nifty surpassed its previous high of 12,103. The Sensex fell as much as 410 points from record high of 41,120.28 and NSE Nifty 50 dropped 116 points from an all-time high of 12,132.45.
As of 2:44 pm, the Sensex fell 121 points to 40,768 and Nifty 50 index fell 50 points to 12,023.
Nine of 11 sector gauges compiled by National Stock Exchange were trading higher led by the Nifty Media indexes 3.5 per cent fall.
On the other hand, Nifty Private Bank index was up 0.2 per cent.
Zee Entertainment was top loser in the Nifty 50 basket of shares, the stock slumped as much as 9.2 per cent to Rs 312 after its Chairman Subhash Chandra resigned from the company.
Bharti Infratel, Bharti Airtel, Grasim Industries, JSW Steel, Bharat Petroleum and Power Grid were also among the losers.
On the flipside, GAIL, ICICI Bank, Yes Bank, IndusInd Bank, Dr Reddy's Labs and ONGC were among the gainers.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
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?
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
