Markets tank in early trade as Middle East tensions flare-up
The Hindu
Equity benchmark indices tanked in early trade on April 19, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors’ sentiment.
Equity benchmark indices tanked in early trade on April 19, taking their losing streak to the fifth day running, as escalating tensions in the Middle East weighed heavily on investors' sentiment.
Fresh foreign fund outflows, uptick in Brent crude oil prices and decline in IT stocks also added to the overall weak sentiment in equities.
The 30-share BSE Sensex tanked 672.53 points to 71,816.46. The NSE Nifty dropped 218.2 points to 21,777.65.
From the Sensex basket, Infosys declined over 2% after the company's revenue growth guidance for FY25 failed to meet market expectations.
The company expects a revenue growth of 1-3% in constant currency for FY25 and an operating margin of 20-22%.
"Infosys guided for 1-3% constant currency revenue growth for FY25, missing expectations," as per a report by JM Financial Institutional Securities.
Axis Bank, HCL Technologies, Asian Paints, Larsen & Toubro, Tata Motors, Tata Consultancy Services and Nestle India were the other major laggards.
Meta Chief Executive Mark Zuckerberg is building a CEO agent to help him do his job, the Wall Street Journal reported
Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
L&T confirms 95% of its West Asia project sites are safe, while addressing logistics challenges amid ongoing regional conflicts.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
HDFC Bank terminates three senior officials over client onboarding issues at its DIFC branch amid ethical concerns following chairman's resignation.
Air India CEO warns of potential flight cuts and reduced travel demand due to rising fuel costs amid ongoing Gulf conflict.
Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market
India achieves 1 billion tonne coal production for the second consecutive year, ensuring stable energy supply and economic growth.
Generic drugmakers in India launch affordable Semaglutide versions, targeting a $1 billion diabetes and weight loss market.
Indian and Asian refiners eye Iranian oil purchases as U.S. waives sanctions amid energy crisis linked to the Iran-Israel war.