Markets snap 6-day winning streak; heavyweights drag Nifty below 8,150
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The benchmark indices hit a roadblock after six-straight sessions of gains, amid weak global cues, as investors booked profits at higher levels among financials and index heavyweight shares.
The 30-share Sensex closed lower by 190 points at 26,846 and the 50-share Nifty dipped 48 points at 8,129.
The broader markets ended dismal in line with the benchmark indices. BSE Midcap index slumped over 1% and the Smallcap index dipped by 0.1%.
Market breadth remained weak on the BSE with 1,429 shares declining and 1,005 shares advancing.
In the currency front, the rupee depreciated 12 paise to 65.08 against the dollar at the Interbank Foreign Exchange on buying of the US currency by importers.
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Senior advocate and former attorney general Mukul Rohatgi stated on November 27 that neither Gautam Adani nor his nephew has been accused of violating the US Foreign Corrupt Practices Act (FCPA) in the indictment filed by US prosecutors in a bribery case.
Addressing the media, Rohatgi clarified that while the indictment refers to allegations of Adanis bribing Indian entities to secure solar power contracts, it does not specify the method of bribery or the individuals involved.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
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The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
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Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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