Slowdown fears bring Sensex down again
The BSE Sensex, after a lower start, falls further to post a loss of 458.06 points at 17,617.60 on Wednesday, reports Vyas Mohan.
By Vyas Mohan | Hindustan Times, Mumbai
UPDATED ON FEB 20, 2008 09:05 PM IST
Domestic shares slid on Wednesday to their lowest in a week as worries about a slowdown in the global economy continued to haunt stock markets across the globe. Opening the day on a weak note, sentiment dipped after reports of an earthquake in Indonesia. Most Asian indices ended the day in the red.
The benchmark Sensex of the Bombay Stock Exchange lost 458.06 points, or 2.53 per cent, to end at 17,617.60, its lowest close since last Wednesday. Of the 30 stocks in the index, 25 recorded losses. The 50-share Nifty of the National Stock Exchange lost 126.35 points, or 2.39 per cent, to close at 5,154.45 points. The market breadth was strongly negative on the Nifty as well, with 38 scrips ending lower.
"Global jitters following the Credit Suisse statement that profitability will be hit after the sub-prime write-downs triggered the fall. Foreign funds are also selling on the Nifty to hedge their risks. However, we expect a pre-budget rally soon," said Dev Kapadia, chief dealer of Lalkar Securities.
According to provisional data available on the NSE website, FIIs were net sellers of Indian shares worth Rs 266.44 crore on Wednesday.
Standard Chartered restores dividend, reaffirms goals as Covid-19 halves profit
Reuters, Hong Kong
PUBLISHED ON FEB 25, 2021 03:57 PM IST
The Asia, Africa and Middle East-focused bank however warned that income in 2021 is likely to be close to last year, showing the challenge it faces to meet its modest profit goals in a world of rock-bottom interest rates.
Sensex jumps 257 points at 51,039.31; Nifty gains 115.35 points
PTI, New Delhi, Mumbai
UPDATED ON FEB 25, 2021 04:06 PM IST
- The 30-share BSE index ended 257.62 points or 0.51 per cent higher at 51,039.31.
Tesla temporarily halts production at Model 3 line in California
Bloomberg
PUBLISHED ON FEB 25, 2021 03:36 PM IST
- Workers on a Model 3 production line in Fremont were told their line would be down from Feb. 22 until March 7
China says Biden's bid to shift US supply chains is 'not realistic'
Bloomberg
UPDATED ON FEB 25, 2021 03:23 PM IST
- China dismissed efforts to shift US supply chains toward alternative sources as unrealistic, hitting back hours after President Joe Biden signed an order to review how America buys strategic goods.
'Private sector has to be involved in India's growth story': FM Sitharaman
Posted by Prashasti Singh | ANI, Bengaluru
UPDATED ON FEB 25, 2021 03:10 PM IST
Finance Minister Nirmala Sitharaman also emphasized the need for involvement and participation from the private sectors in order to meet these demands.
Kalahandi exports high quality cotton to Bangladesh
PTI, Bhawanipatna
PUBLISHED ON FEB 25, 2021 01:48 PM IST
This is for the first time on Wednesday when the Cotton Corporation of India (CCI) exported cotton to Bangladesh through a goods train from Junagarh Road railway station in the district.
Moody's projects 13.7 pc growth in FY'22, expects 7 pc contraction this fiscal
PTI, New Delhi
PUBLISHED ON FEB 25, 2021 01:35 PM IST
For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate.
For petrol, diesel price reduction, centre and state need to coordinate says RBI
PTI, Mumbai
PUBLISHED ON FEB 25, 2021 01:22 PM IST
On the central bank’s digital currency, Das said a lot of work is going on internally in the RBI and some broad guidelines and approach papers will be released on it soon.
Gold prices decline again to ₹46,430, silver rises by ₹257
By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON FEB 25, 2021 01:04 PM IST
Gold had previously closed at ₹46, 522 per 10 gram while silver had closed at ₹69,543 per kg.
'Nearing century mark': Priyanka Gandhi slams Modi govt over fuel price hike
By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON FEB 25, 2021 12:56 PM IST
- Priyanka Gandhi took to Twitter and using cricketing terms targeted the government over the price rise of essential items like LPG cylinders, diesel and petrol.
Fuel price hike not only affects those with cars, bikes: RBI Guv Shaktikanta Das
By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON FEB 25, 2021 12:38 PM IST
"We realise that states and Centre have their revenue pressures and require high sums of money to enable the country and people to come out Covid-19 stress," the RBI Governor said commenting on fuel price hike.
Bharti Airtel raises USD 1.25 billion through debt instruments
PTI, New Delhi
PUBLISHED ON FEB 25, 2021 12:15 PM IST
The debt fund raising by the company comes just before the start of spectrum auction valued at ₹3.92 lakh crore.
Rupee slips 6 paise to 72.41 against US dollar in early trade
PTI, Mumbai
PUBLISHED ON FEB 25, 2021 11:32 AM IST
At the interbank forex market, the domestic unit opened at 72.35 against the US dollar, then lost further ground and touched 72.41, registering a fall of 6 paise over its previous close.
India may have exited recession in 2020-end, GDP data may shed light: Report
Bloomberg
PUBLISHED ON FEB 25, 2021 11:17 AM IST
Surveys from RBI this month showed that consumers perceived the current economic situation as being better than it was in November when a similar survey was conducted.
Netflix plans $500 million Korea budget this year to crack Asia
Bloomberg
PUBLISHED ON FEB 25, 2021 10:44 AM IST
South Korea is Netflix’s third-biggest market in Asia by sales, after Australia and Japan, which estimates a growth of more than 5 million in 2021.
