
Markets down, Sensex touches lowest closing of this year
The Bombay Stock Exchange benchmark Sensex plunged by over 830 points to 16,630.91, the lowest closing this year, with most of the heavyweights tumbling on frantic selling by funds on weak trends in the global stock markets.
Brokers said besides a weak global trend, sluggish debut of Reliance Power on the bourses added to the weak sentiment. Investors were awaiting its listing eagerly with hopes that a good premium would pep up the market, they added.
The 30-stock benchmark Sensex plummeted by 833.98 points at 16,630.91, after touching the day's low of 16,457.74 and a high of 17,427.34 points.
In a similar fashion, the National Stock Exchange index Nifty dropped by 263.35 points at 4,857.00 as almost all index-linked stocks fell sharply. It touched the day's low of 4,803.60 and a high of 5126.40 points.
The Anil Ambani group firm Reliance Power fell to Rs 355.05 from its issue price of Rs 450. Reliance Power is a unit of Reliance Energy.
Finance ministers and central bankers statement, after a meeting, in Tokyo that "downside risks persist" for the global economy also contributed to today's downfall, brokers said.
Stocks of metal, capital goods, oil and gas, realty, public sector undertaking and banking sectors suffered the maximum today.
However bucking the weak trend, IT shares led by Infosys Technologies remained firm, lifting the sectoral index higher by 4.82 points at 3,843.34.

On cryptocurrency, Anurag Thakur says ‘innovation welcomed, must evaluate ideas’

Opted for continuity in deciding tax devolution to states: FC chairman N K Singh
- The 15th Finance Commission has recommended that states be given 41 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26, which is at the same level as was recommended by the 14th Finance Commission.

From ITR to PAN-Aadhaar linking: Tax-related tasks to complete before March 31
- Here’s a list of some of the tasks which need to be performed by taxpayers before March 31

AirAsia CEO says company may launch flying-taxi business in 2022

Covid rescue plan clears hurdle as US economy shows gains

Muthoot Group chairman MG George passes away: All you need to know

A weak week for gold: Here's how the bullion fared

Centre, states need to discuss fuel taxes, says Sitharaman
- In an interaction with members of the Indian Women’s Press Corps (IWPC), Sitharaman said that consumer sentiment about the tax burden on auto fuel was understandable.

Reliance to bear the cost of covid shots for its staff
- Nearly 1.1 million vaccine doses were administered to people above the age of 60 and those in the 45-59 age group till Thursday.

Govt plans to scrap 6,000 compliances
- Mohapatra said the idea came during Modi’s meeting with Marriott International president and chief executive Arne Sorenson, who complained about the complex regulations in starting and running a hotel in India.

ICICI cuts home loan rates to a decadal low
- ICICI Bank’s move comes days after rival lenders such as State Bank of India (SBI), Kotak Mahindra Bank and Housing Development Finance Corp. Ltd cut their home loan rates.

Voting on corp resolutions compulsory for MFs: Sebi
- These votes will have to be disclosed to unit holders under existing regulations. Voting will be at the MF level (rather than scheme level).

Toyota SUV sales may skid on gaps in chipset supply
- Supply of vehicles from Maruti Suzuki India Ltd—as part of the alliance with Suzuki Motor Corp—has helped Toyota increase its domestic market share in the premium hatchback and entry-level SUV segment, where it was not present before.

Total factories in India grew by 2% in 2018-19
- The top three states by GVA were Maharashtra, Gujarat, and Tamil Nadu. They had a share of 41% in the total GVA. Rural India added nearly as much GVA (49%) as urban India (51%).

How do India’s fuel taxes impact the less affluent?
- Using average consumption shares to calculate the burden of an indirect tax has a problem.