Sensex slumps 1.9% led by bank stocks as sentiment sours
The Hindu
Analysts flag possibility of a further slide in the coming days, urge caution
Benchmark stock indices plunged almost 2% on Thursday amid concerns about the impact of inflation on economies worldwide, prompting analysts to flag the possibility of a further slide in the coming days.
The S&P BSE Sensex nosedived 1,158.63 points, or 1.89%, to 59,984.70. Selling pressure was witnessed across the board and the fall was led by banking stocks.
The top Sensex losers included ITC, down 5.5%, ICICI Bank, which fell 4.4%, Kotak Bank (4.1%), Axis Bank (3.8%) and Titan (3.7%).
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.