## Sensex Plunges, Zomato Soars: Top Business News Today
The Indian stock market experienced a tumultuous day on Tuesday, with the benchmark Sensex and Nifty 50 indices plummeting due to a combination of factors. Heavy selling across sectors and a massive exodus of foreign institutional investors (FIIs) from the capital markets weighed heavily on investor sentiment.
Sensex and Nifty 50 Tumble:
The Sensex closed the day with a loss of 931 points, or 1.15 percent, settling at 80,220.72. Meanwhile, the Nifty 50 index dropped below the 24,500 level, ending the day at 24,472.10, down 309 points or 1.25 percent. The mid and smallcap segments of the market suffered even more significant losses, with the BSE Midcap index ending with a loss of 2.52 percent and the Smallcap index crashing 3.81 percent.
Zomato’s Profit Soars:
In contrast to the market downturn, online food delivery giant Zomato Ltd announced a 389 percent year-on-year rise in its consolidated net profit for the second quarter of fiscal 2025, ending September (Q2FY25). The company reported a profit of ₹ 176 crore, a significant jump from ₹ 36 crore in the corresponding period last year. However, the net profit was down 30.43 percent sequentially from ₹ 253 crore in Q1FY25.
Bajaj Finance and Mahindra & Mahindra Finance Report Strong Q2 Results:
Bajaj Finance reported a surge of 80 percent in its standalone net profit for the July-September quarter, reaching ₹ 5,614 crore compared to ₹ 3,105.75 crore in the same quarter last year. Mahindra & Mahindra Financial Services (M&M Finance) also announced strong Q2 results, reporting a 57 percent increase in net profit to ₹ 369.5 crore, although this figure fell short of market estimates. The company reported a net profit of ₹ 235.2 crore in the same quarter of the previous year, with total revenue reaching ₹ 3,897 crore in Q2 of FY25.
PM Modi in Russia for BRICS Summit:
Prime Minister Narendra Modi arrived in Russia’s Kazan on Tuesday for the BRICS Summit. During a meeting with Russian President Vladimir Putin, PM Modi reiterated India’s commitment to resolving the conflict between Russia and Ukraine through peaceful means and expressed India’s readiness to cooperate in establishing peace and stability in the region.
Bomb Threats in Nepal:
Adding to the news of bomb threats to airlines in India, IndiGo, Akasa, and Vistara flights in Nepal received fresh bomb threats on Tuesday. Following the threats, Nepal Army bomb disposal teams were deployed to inspect the airports.
These developments highlight the volatile nature of the current market environment and the geopolitical tensions that continue to impact global economies. As investors navigate these uncertainties, keeping an eye on key developments and economic indicators will be crucial for making informed investment decisions.