Indian shares slip from record highs owing to losses in energy, financial stocks
India Today
For the year, the Nifty is still up around 12 per cent and the Sensex has gained 9 per cent, even as the second wave of Covid-19 battered the country.
Losses in energy and financial stocks pulled Indian shares down from record highs on Wednesday, with investors cautious ahead of key US inflation data due later in the week. The blue-chip NSE Nifty 50 index closed 0.67 per cent lower at 15,635.35 after earlier hitting an all-time high, while the benchmark S&P BSE Sensex fell 0.64 per cent to 51,941.64. For the year, the Nifty is still up around 12 per cent and the Sensex has gained 9 per cent, even as the second wave of Covid-19 battered the country.
A look at Sensex stocks shows that IT names such as HCLTech, Tech Mahindra, and TCS were trading in the green, even as heavyweights across banking, auto, metal and consumption sectors saw sharp declines.
As of 10:26 am on MCX, gold futures were trading at Rs 1,37,307, down Rs 7,185 or 4.97%. Silver futures were at Rs 2,13,600, down Rs 13,172 or 5.81%.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
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The additional allocation will be subject to commercial establishments registering with oil companies and applying for a piped natural gas connection, according to a letter written by the oil secretary to states.
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The former RBI Govenor said a 15–20% global energy disruption would require sharp demand cuts, pushing oil to $150–$200 per barrel, risking severe economic stress if the conflict continues another month.
Venkataraman joined Flipkart in 2015 and has been part of the company's leadership team through a period of growth and restructuring. During his tenure, he helped strengthen the company's financial operations.