Markets go into tailspin in early trade; Sensex dives over 980 points
The Hindu
All the Sensex pack firms were trading in the red, with Bajaj Finance, HCL Technologies, Bajaj Finserv, Maruti Suzuki India, Wipro, Axis Bank, Tata Steel and Infosys emerging as the major laggards
Equity benchmark indices went into a tailspin in early trade on Friday, with the Sensex tumbling over 980 points to fall below the 55,000-mark, tracking an extremely weak global markets.
The 30-share BSE benchmark dived 980.45 points to 54,721.78 in early trade. The NSE Nifty also declined 300.15 points to 16,382.50.
All the Sensex pack firms were trading in the red, with Bajaj Finance, HCL Technologies, Bajaj Finserv, Maruti Suzuki India, Wipro, Axis Bank, Tata Steel and Infosys emerging as the major laggards in early trade.
Elsewhere in Asia, markets in Hong Kong, Shanghai and Korea were trading significantly lower, while Tokyo quoted marginally higher.
Stock exchanges in the U.S. had fallen sharply in the overnight trade on Thursday.
"US markets witnessed a relief rally on Wednesday after FOMC meeting but it tumbled on Thursday due to more anxiety over rising interest rates. Asian markets are trading in the red in early Friday trade," said Mohit Nigam, Head - PMS, Hem Securities.
On Thursday, the BSE benchmark closed just 33.20 points or 0.06% higher at 55,702.23. Similarly, the NSE Nifty inched up 5.05 points or 0.03% to 16,682.65.
Rupee hits all-time low at 85.20 against USD due to strong greenback, rising crude oil prices, and weak domestic markets.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.