The financial markets in India and elsewhere on Monday were rattled by developments in the US and Japan, two of the world's leading economies with significant ties to the global financial system.
Concerns about a potential recession in the US, driven by disappointing jobs data, and the unwinding of yen carry trades, prompted by an interest rate hike in Japan, triggered sharp reactions by investors across equities, bonds, and currencies.
The Sensex fell as much as 2,686 points, or 3.3 per cent, before ending the session at 78,759 down 2,223 points, or 2.7 per cent than Friday's close. Similarly, the Nifty 50 dropped 670 points, or 2.7 per cent, to close at 24,048. For both indices, this was the sharpest single-day decline since the Lok Sabha election results day on June 4.
Diese Geschichte stammt aus der August 06, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der August 06, 2024-Ausgabe von Business Standard.
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Once dubbed 'political lightweight', Saini shows heft in Haryana
A month before the polls in Haryana, a video surfaced on social media of Bharatiya Janata Party (BJP) leader Karan Kamboj, visibly upset at being denied a party ticket and refusing to shake Chief Minister Nayab Singh Saini's hand. Many viewed this as evidence that Saini was a \"political lightweight\" within his own party and that the BJP's central leadership might scapegoat him for what appeared to be an impending defeat in the state.
Omar Abdullah to be at helm again - in post-Article 370 J&K
In a political comeback, Omar Abdullah is poised to take over as chief minister of Jammu & Kashmir (J&K) for a second time - just four months after a humbling defeat to Sheikh Abdul Rashid in the Lok Sabha elections for the Baramulla constituency.
Foxconn arm to infuse ₹13K cr to set up TN factory
The Tamil Nadu government on Tuesday cleared the ₹13,180 crore project by Yuzhan Technology, part of Taiwan's Foxconn Group, at Kancheepuram. The unit is reportedly expected to assemble smartphone display modules, which will be one of the first such units to cater to Apple's growing presence in the country.
Adani Green units plan to raise up to $1bn via bonds
Four subsidiaries of Adani Green Energy's plan to raise up to $1 billion by issuing US dollar-denominated bonds, two merchant bankers involved in the deal said on Tuesday.
GIC plans to sell ₹41K cr stake in Greenko Energy
GIC Pte is considering options for its 50 per cent stake in India's Greenko Energy Holdings, including a possible sale that could be worth around $5 billion (over ₹41,000 crore), people familiar with the matter said.
DHARMA-SAREGAMA SAGA: Consolidation may be filmmaking's surprise hit
There is no confirmation that RP-Sanjiv Goenka Group's Saregama is acquiring a majority stake in Karan Johar's Dharma Productions. The stock has been steadily rising since the rumours first broke in August. In a letter to BSE on Tuesday, the company said, \"At this stage, there is no material event/information that requires disclosure.\"
Workers' strike still on at Samsung Chennai unit despite pay hike offer
Workers' strike at Samsung Electronics plant at Sriperumbudur entered its 30th day on Tuesday with no end in sight as Centre of Indian Trade Unions (CITU), the union leading the charge, claimed that its major demands are yet to be fulfilled. This is despite the company agreeing to pay a special incentive to the employees.
PepsiCo reports double-digit organic India revenue growth
Even as beverage and snacks major PepsiCo trimmed its sales forecast for the year upon missing estimates, it witnessed double-digit organic revenue growth in India during the third quarter of the calendar year 2024 ended September 7.
RUDDER ISSUE: Akasa to run safety tests on 14 of 25 planes
Air India Express to also conduct similar audit; SpiceJet says none of its Boeing 737 NGs impacted
CCPA notice won't impact activities: Ola
Ola Electric has said that the show-cause notice from the Central Consumer Protection Authority (CCPA) \"would not impact\" its activities and that the company will file a response to the notice within the 15-day deadline.
