Sensex, Nifty down 1% amid slump in TCS, foreign fund outflows
The Hindu
Sensex and Nifty drop 1% due to TCS, Infosys, and Reliance Industries sell-off amid weak markets.
Benchmark equity indices Sensex and Nifty tumbled 1% each on Tuesday dragged down by a heavy sell-off in TCS, Infosys and Reliance Industries amid weak Asian markets and fresh foreign fund outflows.
The 30-share BSE Sensex tanked 736.37 points or 1.01% to settle at 72,012.05 after opening on a weak note. During the day, it dropped 815.07 points or 1.12% to 71,933.35.
The NSE Nifty slumped 238.25 points or 1.08% to finish at 21,817.45.
Investors turned cautious ahead of the U.S. Fed interest rate decision this week, analysts said.
Among Sensex shares, Tata Consultancy Services tanked over 4% as its promoter Tata Sons sold around 2.3 crore shares, or 0.65% of equity stake, in the IT services major through block deals.
IndusInd Bank, Wipro, Nestle, HCL Technologies, Infosys, Power Grid, ITC, Tech Mahindra, Tata Motors and UltraTech Cement were the other major laggards.
Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Titan and Bharti Airtel were the gainers.
Shares of Adani Group companies lost about $28 billion in market value in morning trade on November 21 after U.S. prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.
The rupee turned flat at 84.42 against the U.S. dollar in early trade on November 21, 2024, amid volatile crude oil prices and lackluster sentiment in the domestic equity markets.
Stocks of Gautam Adani’s seven listed companies on the bourses crashed on open after the New York Eastern district court indicted Gautam Adani, Sagar Adani, Vineet S. Jain and their associates and bribery and securities fraud on November 21, 2024
Gautam Adani faces arrest warrant in US over alleged fraud scheme, SEC charges him with bribery and fraud.
Bitcoin’s march toward $100,000 made further ground on Thursday as the coin crossed $95,000.
Billionaire Gautam Adani indicted in New York for bribery and fraud scheme, impacting Adani Group's financial plans.
SEC charges Adani Group chairman with defrauding American investors and bribing officials in multi-billion-dollar solar energy project scheme.
Country Club Hospitality and Holidays Ltd clears ₹600 crore debt, explores global partnerships, franchise model for growth and expansion.
Steel Secretary addresses concerns over cheap steel imports from FTA nations, highlighting challenges faced by domestic industry.
Stock markets in India closed for Maharashtra elections, with a bounce back in domestic indices observed on Tuesday.
The sensor systems for vehicles in India are all imported. Nothing is made in India though they are engineered at a sustainable low cost, said ISRO Chairman S. Somanath.