Sensex, Bank Nifty plunge 400 points; HDFC dips 3%
.jpg)
Markets continue their sharp downfall weighed down by rate-sensitive stocks after the Reserve Bank of India (RBI) at its monetary policy review indicated that the further rate cuts depend on the monsoon and inflation data.
At 1:05 PM, the 30 share Sensex shed 375 points or 1.31%, to 27,483 levels while the Nifty 50 slipped below 8,350 to 8,309 levels, down by 125 points or 1.5%.
The broader markets are, however, underperforming the larger peers with BSE Midcap and Smallcap indices down by 1% and 0.9% respectively. The market breadth is also negative with 1559 declines against 821 advances on the BSE.
Other Latest News
.webp)
Flooding and heavy rains in Kenya have killed at least 70 people since mid-March, a government spokesperson said on Friday, twice as many as were reported earlier this week.
The East African country has seen weeks of heavy rains and severe flooding in Kenya's capital, Nairobi, as well as in the country's western and central regions.
.webp)
Tesla CEO Elon Musk deferring his India visit this week has had no effect on buzz that his company will eventually have a base for electric vehicles (EV) in the country.
Analysts say Musk deferred his visit to meet Prime Minister Narendra Modi due to Lok Sabha elections when the government attention is focused on campaigning and it cannot announce major policy.
.webp)
Bajaj Finserv Ltd (BFL) on Friday reported a 20 per cent increase in consolidated net profit to Rs 2,119 crore for the March quarter.
The company had posted a net profit of Rs 1,769 crore in the year-ago period.
.webp)
Prime Minister Narendra Modi on Thursday claimed that former premier Rajiv Gandhi abolished the inheritance tax in 1985 after the death of his mother Indira Gandhi to save her wealth from going to the government, continuing his attack on the Congress on the wealth redistribution issue.
Addressing an election rally in Madhya Pradesh's Morena city, Modi alleged that Congress wanted to bring back the inheritance tax or estate duty, a levy imposed on inherited movable and immovable assets.
.webp)
Shares of Housing & Urban Development Corporation (HUDCO) hit a record high of Rs 234.30, zooming 15 per cent on the National Stock Exchange (NSE) in Friday's intra-day trade amid heavy volumes on expectations of good growth going forward. Last week, the Department of Public Enterprises (OPE) granted the Navratna Status to HUDCO.
The stock of the state-owned financial institution surpassed its previous high of Rs 226.95 touched on February 2, 2024. It has bounced back 43 per cent from the low of Rs 163.80 hit on March 13.
.webp)
.webp)
.webp)
.webp)
.webp)
