Sensex ends 88 points lower; Tata Group shares weigh
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Benchmark share indices ended lower on Tuesday with Tata Group leading the decline after the sudden exit of Cyrus Mistry as chairman of Tata Sons weighed on investor sentiment.
The S&P BSE Sensex ended down 88 points at 28,091 and the Nifty50 settled 18 points lower at 8,691. In the broader market, the BSE Midcap ended down 0.3% while the BSE Smallcap index ended flat. Market breadth ended weak with 1451 losers and 1293 gainers on the BSE.
"The market languished in a negative zone due to unfavorable winds from earnings and ambiguity over TATA Group issue. Investors are eyeing more cues from earnings season and at the same time expecting more volatility as expiry get nearer." Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services
Foreign institutional investors were net sellers in equities worth Rs 325 crore on Monday, as per provisional stock exchange data.
Meanwhile, PNB Housing Finance which launched its initial public offer today raised over Rs 890 crore from allotment of shares to anchor investors such as SBI Life Insurance, HDFC, Axis Mutual Fund and Franklin Templeton Mutual FUnd among others.
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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