Markets tank in early trade as Middle East tensions flare-up
The Hindu
Equity benchmark indices tanked in early trade on April 19, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors’ sentiment.
Equity benchmark indices tanked in early trade on April 19, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors' sentiment.
Fresh foreign fund outflows, uptick in Brent crude oil prices and decline in IT stocks also added to the overall weak sentiment in equities.
The 30-share BSE Sensex tanked 672.53 points to 71,816.46. The NSE Nifty dropped 218.2 points to 21,777.65.
From the Sensex basket, Infosys declined over 2% after the company's revenue growth guidance for FY25 failed to meet market expectations.
The company expects a revenue growth of 1-3% in constant currency for FY25 and an operating margin of 20-22%.
"Infosys guided for 1-3% constant currency revenue growth for FY25, missing expectations," as per a report by JM Financial Institutional Securities.
Axis Bank, HCL Technologies, Asian Paints, Larsen & Toubro, Tata Motors, Tata Consultancy Services and Nestle India were the other major laggards.
Vodafone Idea Ltd reports narrowed net loss, revenue growth, increased ARPU, and strategic investments for future growth.
OpenAI CEO Sam Altman has soundly dismissed a $97.4 billion takeover bid backed by rival Elon Musk.
CBDT data shows significant growth in direct tax collections, with corporate and non-corporate taxes surpassing targets.
Chief Economic Advisor Nageswaran addresses the importance of deregulation and energy transition for India's economic growth.
Konkan LNG Ltd. to complete Enron-era Dabhol Breakwater project, enhancing India's LNG import capacity for energy mix improvement.
Mahindra Group to invest ₹40,000 crore in Karnataka, creating thousands of jobs and expanding various sectors.
Akhilesh Yadav criticizes Union Budget as benefiting only the rich, questions government's handling of Maha Kumbh stampede.
Finance Minister Nirmala Sitharaman discusses the effective capital expenditure, fiscal deficit target, inflation management, and rupee depreciation in Lok Sabha.
The platform is AI-powered to streamline trade documentation for MSME exporters, simplifying global trade.
Hitachi Payment Services invests in Spydra Technologies to drive innovation in digital payments through blockchain technology.
Sensex and Nifty plummet over 1% as trade war fears and foreign fund outflows persist.
Rupee gains sharply against dollar, showing high volatility amid tariff war concerns, with RBI intervention supporting recovery.
L&T chairman discusses challenges of mobilizing labour for infrastructure development in India due to various factors and global opportunities.