Market crisis deepens, Nifty at 8-mth low
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June is turning out to be a nightmare for Indian markets, as the National Stock Exchange's (NSE's) benchmark Nifty index has ended in losses on all but one trading session this month.
The 50-share index on Thursday ended below the 8,000-mark for the first time in nearly eight months.
Domestic concerns like a weak monsoon forecast, long pause in further monetary easing and sluggish corporate earnings continued to weigh on investor sentiment, even as Greek refinancing talks buoyed other global markets.
The BSE Sensex posted its biggest fall in a week, losing 469.6 points, or 1.75 per cent, from its previous close to end at 26,370.98, the lowest closing level since October 2014. The Nifty lost 159 points, or nearly two per cent, to end at 7,965.3, breaking a crucial support level. The Sensex has declined nearly 1,500 points, or 5.2 per cent, so far in June.
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For Samsung Group, this has been a year of milestones. First, a rare public apology from its flagship Samsung Electronics Co., followed by a bumper share buyback. And now, South Korea’s biggest conglomerate has named a woman that’s not member of its founding family as chief executive officer of a group company for the first time in its 86 years.
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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