Markets decline in early trade on profit taking after record-breaking rally
The Hindu
Benchmark equity indices declined in early trade on Tuesday amid profit taking after a record-breaking rally and selling in bluechips Reliance Industries and HDFC Bank.
Benchmark equity indices declined in early trade on Tuesday amid profit taking after a record-breaking rally and selling in bluechips Reliance Industries and HDFC Bank.
Both Sensex and Nifty hit their all-time high levels in early trade on Monday.
The 30-share BSE Sensex declined 113.63 points to 76,376.45. The NSE Nifty dipped 29.6 points to 23,229.60.
Later, both indices faced heavy volatile trends and were trading between highs and lows.
Among the 30 Sensex companies, JSW Steel, Kotak Mahindra Bank, Asian Paints, Reliance Industries, Axis Bank, ICICI Bank, Bharti Airtel, Tata Motors, HDFC Bank and IndusInd Bank were the major laggards.
Larsen & Toubro, Mahindra & Mahindra, Tech Mahindra, UltraTech Cement, Tata Steel and Titan were among the gainers.
In Asian markets, Seoul and Tokyo quoted higher while Shanghai and Hong Kong traded lower.
Rupee trading in narrow range as U.S. dollar strengthens, Brent oil rises amid Ukraine-Russia conflict, FIIs sell equities.
Billionaire Gautam Adani indicted in U.S. for fraud and bribery, facing charges of defrauding American investors.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.