Gautam Adani, along with other executives, has been charged by US prosecutors for allegedly bribing ($250 million) Indian officials.
The fall from peak levels in these segments, according to Gaurang Shah, senior vice-president at Geojit Financial Services has also been account of earnings disappointment besides amid high valuations
As many as 27 out of the Nifty 50 stocks are trading below their respective long-term moving average; analysts see this as an overall weak trend in the market.
Mamaearth is growing slower than expectations and Honasa said the company is making identified structural changes to bring it back to its growth trajectory in a few quarters.
The BSE Smallcap index slipped 2.5% or 1,346 points to 52,258 in Wednesday's intra-day trade and down 6.7% in the past one week as sustained FIIs selling and earnings disappointment weighed.
An index or a stock is said to be in a 'correction' phase when it has dipped over 10 per cent and up to 20 per cent from its recent peak level. A 20 per cent or more fall is termed as a 'bear' phase
Asian Paints stock was trading at 3-year lows, and had given a downside breakout on the monthly chart for the first time since May 2018; shows technical charts.
BSE Sensex dropped by 1.19 per cent or 958.79 points to 79,419.34, before settling at 79,541.79. Similarly, the NSE Nifty50 tanked 1.24 per cent or 305 points to 24,179.05, before ending at 24,199.35
Stock market today: The Nifty MidCap100 index and the Nifty SmallCap100 index have declined 8.8 per cent and 6.9 per cent, respectively, from their respective all-time highs
Charts suggests that the Sensex could slide down to 72,000 levels, in the worst-case scenario, wiping out all the gains made thus far in calendar year 2024 (CY24).
FII selling, US elections, muted Q2 earnings and other factors are among the top reasons why Indian benchmark indices are trading with deep cuts today
Stock Market Highlights: Indian benchmark equity indices declined after a lower open on Monday, amid mixed global cues
Congress leader Rahul Gandhi on Saturday expressed concern over the recent sharp decline in the Indian stock markets and said the party must evolve ways to protect the interests of youngsters, the salaried class and the common people who have invested their money. In a video of a phone conversation with Pawan Khera -- chairman of the Congress' media and publicity department -- Gandhi described the stock market as a "space of risk" and urged party leaders to devise innovative ways of cautioning retail investors for protecting their hard-earned money. "If you want me involved in it, tell me how," Gandhi told Khera, expressing his willingness to be part of a communication campaign to protect the interests of retail investors. The former Congress president posted a video of the conversation with Khera on Instagram with the caption, "Who is in the syndicate that guards the corrupt?" Investors' wealth eroded by a whopping Rs 6.80 lakh crore on Friday as equity markets tumbled, driven by
Stock market crash: The benchmarks have clocked their fourth straight weekly losing streak, the longest since August 2023
Share Market Crash Highlights, Oct 25: The benchmark indices were down for 4th straight week, their longest weekly losing streak since August 2023. The indices have shed over 7 per cent in this period
The GIFT Nifty indicated a flat start, with an uptick of 12 points at 6:35 AM, trading at 24,464.5
If the Nifty is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels, charts suggest.
F&O cues for Oct 23: FIIs have been net short in index futures since Oct 10; at present they hold 2 short bets for every long trade; Retail investors' long-short ratio stands at 1.75.
Stock Market Today: Benchmark India equity indices were likely headed for a flat start with a slightly positive bias as indicated by GIFT Nifty futures at 7:10 AM
Cochin Shipyard, Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders have corrected up to 51% from their respective 52-week highs touched in July 2024.