The downfall is remarkably influenced as Sensex has witnessed a plunge close to falling more than 1.5% today closing at INR 77964. The bearish phase is prominently reflected by the index drag-down across various below par performances from several sectors.
Nifty 50 at INR 23,616 also registered a fall of more than 1.6%. Most of this decline was contributed by Tata Steel and Trent which fell over 4%. Besides these, BPCL, NTPC, Coal India, Adani Enterprises and BEL had losses of more than 3%, therefore, added further pressure. Other laggards with the bunch were Kotak Bank, Hindalco, and Adani Ports.
The Nifty bank showed a dip of more than 2% in closing at INR 50,428. Bank of Baroda was the most significant loser with a decline of over 5%, followed by PNB, which recorded an over 4% drop. Canara Bank, IDFC First Bank and Federal Bank too fell by more than 3% adding to the downtrend.
More than 2% of loss was recorded in Nifty Next 50, which ended at INR 67853. Union Bank led the losses at more than 7% as well as other top losers included Adani Energy Solutions at more than 6%. Other stock losers included, Bank of Baroda, IRFC, Adani Green, and JSW Energy.
The BSE 200 Index closed lower at INR 10,875 with the major contributor being Union Bank, which fell by 7%, while IREDA recorded a dip of 6%. Adani Energy Solutions further put the downward momentum with an over 6% dip.
This low and gloomy mood prevailed over the whole main index down to all those closing in red. Notably, the high affected stocks during this downturn were stocks in Adani Group and the banking sector showing undoubtable lack of investor confidence.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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Published on: January 5, 2025 at 7.30 PM GMT.
7th January is celebrated as National Tempura Day.
India Delays Space Docking Experiment:
The Indian Space Research Organisation (ISRO) has deferred its anticipated in-orbit satellite docking experimentation which was expected to occur on January 7. Additional ground simulations must take place to prepare on the abort scenario identified. Successful docking will play a vital role in future missions such as satellite servicing and space stations operations.
As stated in Bhagavad Gita : (Bhagavad Gita 4.7)
यथा यथा हि धर्मस्य ग्लानिर्भवति भारत।
Whenever there is a decline in righteousness and an increase in unrighteousness, O Bharata, at that time I manifest Myself.
