Nifty drops 6%, biggest fall in four years
In the most significant single-day fall in four years, India's benchmark stock indices, Sensex and Nifty, plummeted nearly 6% on Tuesday as counting trends indicated that the ruling Bharatiya Janata Party (BJP) might fall short of a clear majority in the Lok Sabha elections.News Arena Network - Mumbai - UPDATED: June 4, 2024, 04:52 PM - 3 mins read
Economy
See All![A Harley-Davidson P-Type Sportster. A Harley-Davidson P-Type Sportster.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fharleyjpg_1722081841204.jpg&w=3840&q=8)
July 27, 2024, 05:34 PM - 2 mins read
The new facility, sprawling over 3,000 sq ft, is located at Velappanchavadi, enhancing accessibility for Harley-Davidson enthusiasts and owners.
Read more![Assam Chief Minister Himanta Biswa Sarma with Defence Minister Rajnath Singh in New Delhi recently. Assam Chief Minister Himanta Biswa Sarma with Defence Minister Rajnath Singh in New Delhi recently.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsarma-rajnath-singhjpg_1722079378120.jpg&w=3840&q=8)
July 27, 2024, 04:42 PM - 3 mins read
This development follows Sarma's recent meeting with Union Defence Minister Rajnath Singh in New Delhi, where they discussed the potential for a defence corridor in Assam.
Read more![The government is likely to take a decision on increasing the minimum selling price (MSP) of sugar within the next few days, Union Food Secretary Sanjeev Chopra said on Saturday.
The government is likely to take a decision on increasing the minimum selling price (MSP) of sugar within the next few days, Union Food Secretary Sanjeev Chopra said on Saturday.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsugarnaijpg_1722077847334.jpg&w=3840&q=8)
July 27, 2024, 04:27 PM - 2 mins read
Industry bodies, including the National Federation of Cooperative Sugar Factories (NFCSF), have urged the government to raise the MSP to at least Rs 42 per kg to help mills sustain operations amid rising production costs.
Read more![Representative Image. Representative Image.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fpepsiconaijpg_1722076748454.jpg&w=3840&q=8)
July 27, 2024, 04:09 PM - 3 mins read
“We continue to see a lot of growth in many parts of the AMESA( Africa, Middle East & South Asia) region, in particular India is a big growth space for us and it’s an investment area for sure,” Laguarta had said.
Read more![G20 Sherpa Amitabh Kant. G20 Sherpa Amitabh Kant.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsherpanaijpg_1722074562113.jpg&w=3840&q=8)
July 27, 2024, 03:32 PM - 2 mins read
Highlighting the sector's importance, Kant noted that sugar contributes 1.1 per cent to the country's GDP and plays a pivotal role in reducing crude import bills, energy transition, promoting circular economy, and achieving net zero emissions.
Read more![The benchmark Sensex rebounded by 1,293 points, while the Nifty surged to a record high on Friday. This significant recovery broke a five-day losing streak, spurred by heavy value buying at lower levels and a strong rally in blue-chip stocks like Infosys, Airtel, and Reliance Industries. The benchmark Sensex rebounded by 1,293 points, while the Nifty surged to a record high on Friday. This significant recovery broke a five-day losing streak, spurred by heavy value buying at lower levels and a strong rally in blue-chip stocks like Infosys, Airtel, and Reliance Industries.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fbull-bse-nsejpg_1722002295441.jpg&w=3840&q=8)
July 26, 2024, 07:27 PM - 2 mins read
On Friday, all Sensex shares except for Nestle closed in the green. Bharti Airtel emerged as the biggest gainer, rising by over 4.51%. Other significant gainers included Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel, and Mahindra & Mahindra. Nestle was the sole loser, edging down by 0.07%.
Read more![The government announced its support for coal gasification projects, recognizing their significant potential to transform coal into a variety of valuable products. The government announced its support for coal gasification projects, recognizing their significant potential to transform coal into a variety of valuable products.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fcoalmgasjpg_1721997155689.jpg&w=3840&q=8)
July 26, 2024, 06:02 PM - 2 mins read
By promoting coal gasification, the government aims to achieve partial import substitution for oil and gas, while also making cleaner use of the country’s abundant coal reserves. In a statement, the coal ministry emphasized that these projects could help conserve foreign exchange and bolster domestic industries.
Read more![After five consecutive sessions of decline, the bulls took charge, pushing the benchmark indices back into the green. A sharp rally in metal and pharma stocks fueled the recovery, with the Sensex rising by 0.17% to 80,177 and the Nifty climbing 0.24% to 24,464 on Friday. After five consecutive sessions of decline, the bulls took charge, pushing the benchmark indices back into the green. A sharp rally in metal and pharma stocks fueled the recovery, with the Sensex rising by 0.17% to 80,177 and the Nifty climbing 0.24% to 24,464 on Friday.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1721975658307.jpg&w=3840&q=8)
July 26, 2024, 12:04 PM - 2 mins read
Among the 13 indices, the Bank Nifty was the only laggard, dragged down by ICICI Bank, Federal Bank, and Axis Bank. "In the near term, banks are likely to underperform due to subdued earnings from major lenders like Axis Bank," noted an expert.
Read more![Parle has once again clinched the title of the nation's top brand for in-home consumption, according to Kantar’s annual Brand Footprint India 2024 report. Parle has once again clinched the title of the nation's top brand for in-home consumption, according to Kantar’s annual Brand Footprint India 2024 report.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fparlejpg_1721974179908.jpg&w=3840&q=8)
July 26, 2024, 11:39 AM - 2 mins read
Over the past five years, CRPs have surged by nearly 33 percent, although this year’s growth is a tad slower than last year's pace. The report noted a general slowdown in CRPs across most sectors, with dairy being the sole exception. Parle’s continued reign at the top is followed by other household names: Britannia, Amul, Clinic Plus, and Tata Consumer Products.
Read more![The Odisha Assembly building. File photo. The Odisha Assembly building. File photo.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fodisha-assemblyjpg_1721960815052.jpg&w=3840&q=8)
July 26, 2024, 07:56 AM - 4 mins read
Emphasising agriculture and women's empowerment, Chief Minister Mohan Charan Majhi presented a budget that is approximately 15 per cent larger than the previous year's estimate of Rs 2.30 lakh crore.
Read more![The American economy, buoyed by robust consumer spending, is believed to have regained some momentum this spring after starting 2024 on a sluggish note. The American economy, buoyed by robust consumer spending, is believed to have regained some momentum this spring after starting 2024 on a sluggish note.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Funtitled-design-9jpg_1721908824930.jpg&w=3840&q=8)
July 25, 2024, 05:30 PM - 3 mins read
Despite the anticipated uptick, the U.S. economy, the largest in the world, has evidently cooled due to the highest borrowing rates in decades. From mid-2022 through the end of 2023, the annualised GDP growth had exceeded 2% for six consecutive quarters.
Read more![Benchmark indices Sensex and Nifty remained under pressure for the fifth consecutive session on Thursday as investors offloaded metal, banking, and finance stocks amidst a bleak global market trend. Benchmark indices Sensex and Nifty remained under pressure for the fifth consecutive session on Thursday as investors offloaded metal, banking, and finance stocks amidst a bleak global market trend.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fbear-sensexjpg_1721908207044.jpg&w=3840&q=8)
July 25, 2024, 05:20 PM - 3 mins read
From the Sensex pack, Axis Bank declined over 5% following its underwhelming June quarter earnings. Other laggards included Nestle, Titan, ICICI Bank, Tata Steel, IndusInd Bank, ITC, JSW Steel, and State Bank of India. Conversely, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance, and Power Grid ended in positive territory.
Read more