Today’s top news includes a 20-year sentence for Dominique Pelicot in France, a significant crash in the Indian stock market, an investigation into quick commerce firms, Bharti Airtel’s prepayment of telecom dues, an FIR against Rahul Gandhi, and Bangladesh’s accusations against Adani Power. These stories highlight diverse global events impacting business, politics, and social justice.
Amidst the recent volatility in the Indian stock market, a plea has been filed before the Supreme Court demanding an inquiry into the significant crash observed on June 4. The petition seeks accountability from the government and regulatory bodies, highlighting concerns about the impact on investors and the adequacy of regulatory mechanisms. The plea draws attention to the sharp market downturn following the announcement of the Lok Sabha election results, raising questions about the regulatory oversight of the market.
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.
Indian stock markets continued their downward spiral on May 9, extending losses for the fourth consecutive session. The benchmark Sensex and Nifty indices opened marginally lower and declined further throughout the day. The market’s weakness has been attributed to the ongoing Lok Sabha elections and geopolitical uncertainties. Top gainers in today’s session included automobile companies, while oil and gas and construction sectors faced significant losses.
Indian stock markets witnessed a massive crash today, with the Sensex plummeting almost 600 points to 73,294 and the Nifty slipping over 200 points to 22,242. As a result of the sell-offs prompted by weak investor sentiment, investors lost a staggering Rs 5.49 lakh crore in value. Several key sectors, including auto, metal, capital goods, and consumer durables, suffered heavy losses, dragging down the overall market sentiment.
