Markets continue to fall for sixth day running on weak global trends, foreign fund outflows
The Hindu
The 30-share BSE Sensex plunged 502.5 points to 63,546.56. The Nifty fell 159.55 points to 18,962.60.
Equity benchmark indices declined in early trade on October 26, continuing their weak momentum, amid negative trend in global markets and fresh foreign fund outflows.
The 30-share BSE Sensex plunged 502.5 points to 63,546.56. The Nifty fell 159.55 points to 18,962.60.
Among the Sensex firms, Tech Mahindra traded nearly 3% lower after the company posted 61% decline in consolidated net profit to ₹505.3 crore for July-September period mainly on account of reduced spending by clients.
Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, JSW Steel, Tata Motors, Nestle and Titan were the other major laggards.
Axis Bank emerged as the only gainer after the firm reported a 10% increase in September 2023 quarter net profit to ₹5,864 crore on higher interest income.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower. The U.S. markets ended in the negative territory on October 25.
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CEAMA urges tariff reductions, PLI scheme expansion, and tax rationalization to boost Indian electronics industry competitiveness.
Sensex and Nifty rebounded but fell due to foreign fund outflows, with TCS leading gainers and FIIs selling off equities.
Adani Group to raise ₹7,148 crore by selling stake in Adani Wilmar, focusing on infrastructure business growth.
India's GDP growth rate decline, official estimates questioned, and economic slowdown analysis by experts and academics.