Domestic equity benchmarks Sensex and Nifty gave up initial gains and settled lower by one per cent on Thursday, September 28, tracking volatility on the monthly F&O expiry and dragged by weak global cues. A massive sell-off in information technology (IT) stocks and select heavyweights including Reliance Industries, ITC, and Infosys also dented market sentiments. The frontline indices however, had...
Business
Nifty below 19,150, Sensex down 523 pts; metals outperform
It was a sea of red at Dalal Street which was primarily clouded by lingering concerns about corporate India’s earnings which as of date was uninspiring and, most importantly, they could come under heavy pressure from inflation, an economic downturn, and soaring interest rates. The negative takeaway was that the bear remained in total control despite WTI Oil prices tumbling...
Parag, owner of Wagh Bakri, dies at 49 after attack by street dogs
Parag Desai, the owner of Wagh Bakri, died at 49 on Sunday, the company said in a statement. According to media reports, he was getting treatment in a hospital after an attack by street dogs. Desai, who also held the post of Executive Director of Wagh Bakri Tea Group, suffered a brain haemorrhage after being bitten by a dog. He reportedly fell...
Monday mayhem in markets: Sensex plunges over 800 points; top reasons for blood bath on Dalal Street
Monday mayhem in markets: The benchmark crashed over 850 points in late afternoon trade on Monday, down 1.30% and giving up its 65,000 level. The broader market index Nifty 50 was also down over 1.40% at levels close to 19,265, having slipped over 250 points. The blood bath on the was largely driven by the global cues, with the ongoing...
Nifty around 19,550, Sensex down 232 pts; all sectors in the red
Benchmark indices reversed previous day’s gains as the Sensex fell 407.40 points or 1.18 percent to 34,005.76 and the Nifty declined 121.90 points or 1.15 percent to 10,455. About 1,424 shares advanced against 1,336 declining shares on the BSE. Nifty Midcap index outperformed equity benchmarks, rising 0.3 percent. There is strong co-relation between India and global markets, he feels. “We are bullish in India in...
Musk’s Wealth Shrinks By $16 Billion After Tesla Earnings Miss
Elon Musk’s fortune slumped by $16.1 billion Thursday after Tesla Inc.’s weak third-quarter earnings weighed on shares. Musk, who is the richest person on the planet with a fortune of $209.6 billion, owns 13% of Tesla and derives the majority of his wealth from the auto company. Tesla’s shares fell by 9.3% after it missed both earnings and sales expectations...
Sensex ends 551 pts lower, Nifty slips to 19,671
Domestic equity benchmarks Nifty 50 and Sensex ended lower on Wednesday, October 18, amid broad-based selling. Globally, sentiments were dented after the Middle East conflict intensified, and the U.S. rate worried investors. Many public sector undertaking (PSU) stocks also declined after Zee Business’ report on the Farzi Bull Run. Zee Business carried out an operation to expose the spurious bull...
PVR Inox looks to drive up business of smaller films with movie passport launch
Multiplex operator PVR Inox has launched a new offering called movie passport to drive up business for smaller films in theatres. This comes just ahead of the company’s September quarter results, scheduled to be released on October 19. While star-led movies or films made on a large scale have seen higher traction versus pre-Covid levels, small and medium-sized films are seeing uncertainty...
Oil prices fall as investors assess impact of Israel-Hamas war
Oil prices fell on Monday, partly reversing Friday’s rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. Brent futures LCOc1 slid 34 cents, or 0.4%, to $90.55 per barrel and US West Texas Intermediate (WTI) crude CLc1 dropped 41 cents, or...
Israel-Hamas war casts its shadow on markets
Global markets, including India, on Monday came under pressure in a global risk-off move following the eruption of a growing conflict between Israel and the Palestinian Islamist group Hamas. The BSE Sensex fell by 0.73 per cent, or 483 points, to 65,512.39 and the NSE Nifty index fell 141 points to 19,512.35 in the sell-off. If the war persists for...
Oil prices soar after Hamas attack on Israel
Brent jumped 4.7 percent to $86.65 and West Texas Intermediate was up 4.5 percent at $88.39 in early Asian business. The surprise attack and Israel’s declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran “Key for markets is...
Air India Unveils First Look Of A350 After Logo, Design Change
Tata Group-owned Air India has shared the first look of its new A350 planes after a paintjob to match its new livery. The airline had rebranded itself earlier this year with a new red-aubergine-gold look and a new logo ‘The Vista’. The latest A350 images were clicked at a workshop in France’s Toulouse. The freshly painted planes will arrive in India this...