Sensex drops over 500 points; Nifty tests 8,150
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The markets have spiralled down this morning, with both the Sensex and Nifty touching their lowest in almost four months, amid geo-political concerns in the Middle-East with index heavyweights leading the decline.
At 10.30am, the BSE Sensex had plunged over 500 points to break below its crucial psychological level of 27,000 and the Nifty has also came under pressure to break below its crucial support 200-DMA. The Sensex was at 26,897, lower by 542 points and the Nifty is at 8,151, dowen 168 points.
The broader markets were also having a rough ride, with the BSE midcap and small cap index shedding around 2% each at 10386 and 10943 respectively.
The market participants would be keeping an eye on the developments in Parliament, especially with regard to the GST bill. The rupee has opened higher at 63.34 a dollar, up 10 paise compared to previous day's closing value of 63.44 per dollar.
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In a country where women business leaders have long struggled to make inroads into corporate boards and C-suites, the appointment of Kim Kyung-Ah as president and CEO of Samsung Bioepis Co. is a story likely to inspire the next generation of executives.
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As cyclone 'Fengal' approaches Tamil Nadu, several parts of the capital Chennai will face a five-our power cut on Wednesday and Thursday, i.e., November 27 and 28 due to the maintenance work.
The power cut in Chennai will take place between 9 a.m. to 2 p.m., said a report by dtnext.in, adding that it may be restored if the maintenance work is completed.
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Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if US President-elect Donald Trump imposes 25 per cent import tariffs on crude imports from the two countries, traders and analysts said.
Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico even as the US oil industry has warned the policy could hurt consumers, industry and national security.
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Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
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The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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