Wednesday’s Indian market saw a mixed bag of news: gold surged to a new record high, the Sensex and Nifty declined for the second day in a row, and several companies reported record-breaking Q2 earnings. Meanwhile, a 17-year-old was apprehended for bomb threats on multiple flights, and the Israel-Hezbollah conflict continues to escalate.
A series of events on October 4th, 2023, shook global markets, leading to significant declines. From geopolitical tensions in the Middle East to FII outflows, investors faced a turbulent day. The Sensex and Nifty 50 experienced their worst weekly losses since June 2022, with Reliance Industries taking the brunt of the decline.
The Indian stock market saw a mixed day on September 30th, with over 300 stocks hitting one-year highs while the Sensex and Nifty 50 declined. Meanwhile, SEBI approved IPO plans for companies like Swiggy and Hyundai Motor India. India’s current account deficit widened to 1.1% of GDP in Q1FY25, and core sector output contracted in August. Additionally, the Enforcement Directorate filed a money laundering case against Karnataka CM Siddaramaiah.
Indian stock markets reached new highs, fueled by strong performances from automakers. Accenture announced a $4 billion share buyback, reflecting robust demand for AI technology. Meanwhile, political tensions escalated as Sanjay Raut was sentenced to jail for defamation, and Karnataka withdrew its consent for CBI investigations, citing bias. The Supreme Court dismissed a review plea regarding the Bilkis Bano case, and Israel rejected a ceasefire proposal in its conflict with Hezbollah.
The Bombay Stock Exchange (BSE) Sensex crossed the historic 84,000 mark for the first time, with over 250 stocks hitting their one-year highs. Prime Minister Narendra Modi launched a fresh attack against the Congress in poll-bound Maharashtra, accusing the party of hindering progress for marginalized communities. Meanwhile, the Supreme Court’s YouTube channel was temporarily taken down after it was hacked and displayed cryptocurrency videos. The Tirupati laddu adulteration controversy continues to escalate.
The global equity market saw a sharp decline, with the Sensex and Nifty 50 falling by over 3%. Meanwhile, Bangladesh witnessed protests that forced Prime Minister Sheikh Hasina to resign and flee the country. Gautam Adani, India’s second richest man, announced his retirement plans and succession strategy. In sports, Lakshya Sen lost the bronze medal at the Badminton Paris Olympics 2024. Akums Drugs and Pharmaceuticals IPO is set to list tomorrow.
Indian equity benchmarks Sensex and Nifty tumbled significantly in early trade on Monday, mirroring weak global markets. Fears of a US economic slowdown, foreign fund outflows, and geopolitical tensions in the Middle East contributed to the decline. The 30-share BSE Sensex dropped over 2,400 points, while the NSE Nifty fell by nearly 500 points.
The Indian stock market ended flat on Friday, dragged by HDFC Bank, while the global markets saw positive cues. Keir Starmer took charge as the UK Prime Minister, promising change. Meanwhile, the Indian government filed an affidavit in the Supreme Court defending the NEET-UG 2024 exam, and Lalu Prasad Yadav predicted the Modi government’s downfall.
Today, June 24, India witnesses a flurry of significant events across various sectors including business, politics, law, sports, and space. Key highlights include Adani Ports’ entry into the Sensex, IPOs from Sylvan Plyboard and Shivalic Power Control, the first session of the 18th Lok Sabha, and protests against the NEET exam row. Meanwhile, astronauts will conduct spacewalks outside the International Space Station, and the OnePlus Nord CE 4 Lite launches in India.
On Tuesday, the Sensex plummeted 4389 points to close at 72,029, while the Nifty lost 1379 points to settle at 21884. This marked the worst single-day decline for both indexes since the COVID-19 pandemic in March 2020. These falls occurred amidst recent election results showing the NDA leading with 292 seats, and the INDIA alliance securing 232 seats.
