Markets crash amid global rout; Sensex dives 867 points
The Hindu
Stock exchanges in the U.S. had fallen sharply in overnight trade on Thursday.
Equity benchmarks nosedived on Friday, with the Sensex crashing 866.65 points to close below the 55,000-mark amid a sell-off in global markets.
Unabated foreign fund outflows and firm crude oil prices also weighed on sentiment.
The 30-share BSE Sensex dived 866.65 points or 1.56 % to finish at 54,835.58. During the day, it tanked 1,115.48 points or 2 % to 54,586.75.
Similarly, the NSE Nifty tumbled 271.40 points or 1.63 % to settle at 16,411.25.
From the Sensex pack, Bajaj Finance, Axis Bank, Bajaj Finserv, Nestle, Wipro, HDFC, Infosys, HDFC Bank and UltraTech Cement were the major laggards.
In contrast, Tech Mahindra, PowerGrid, ITC, SBI and NTPC were among the gainers.
Elsewhere in Asia, markets in Hong Kong, Shanghai and Korea settled significantly lower, while Tokyo ended higher.
Rupee hits record low against dollar due to strong American currency, foreign fund outflows, and rising oil prices.
H Lakshmanan, former Executive Director of Sundaram-Clayton in the TVS family, passed away at 92.
Vodafone sells stake in Indus Towers for ₹2,800 crore, uses proceeds to clear lenders dues and increase Vi shareholding.
SpiceJet to unground 10 more aircraft by mid April after raising funds, growing active fleet size to 28.
UN report projects Indian economy to grow by 6.6% in 2025, driven by private consumption and investment, with strong export growth.
Supreme Court halts ₹1 lakh crore GST notices to online gaming companies and casinos for alleged tax evasion.
Punjab Government rejects Centre's draft policy on agricultural marketing, citing concerns over private markets and MSP procurement.
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.