Sensex falls 111 points; Reliance Industries tumbles over 7%
The Hindu
The government, on Friday, slapped an export tax on petrol, diesel and jet fuel.
Benchmark indices settled lower on Friday, with the Sensex declining 111 points on the back of a sharp fall in index heavyweight Reliance Industries.
The BSE benchmark went lower by 111.01 points or 0.21% to settle at 52,907.93. During the day, it tanked 924.69 points or 1.74% to 52,094.25.
The NSE Nifty dipped 28.20 points or 0.18% to close at 15,752.05.
The government, on Friday, slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the U.K. in imposing a windfall tax on crude oil produced locally.
Among the Sensex pack, Reliance Industries tumbled 7.25%
PowerGrid, NTPC, Bharti Airtel, Maruti, Dr. Reddy's Laboratories and ICICI Bank were the other major laggards.
On the other hand, ITC, Bajaj Finance, Bajaj Finserv, Hindustan Unilever, Asian Paints, TCS and HDFC were among the major gainers.
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.
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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.