Stock market update: Power stocks down as market falls
The 30-share BSE Sensex closed down 398.13 points at 81523.16
The 30-share BSE Sensex closed down 398.13 points at 81523.16
Chief Minister Siddaramaiah has established a five-member committee to investigate the "21 scams" alleged to have occurred during the previous BJP administration. Led by Home Minister G Parameshwara, the committee includes Law Minister HK Patil, Revenue Minister Krishna Byre Gowda, Rural Development & Panchayat Raj Minister Priyank Kharge, and Labour Minister Santosh Lad.
Kamala Harris versus Donald Trump's US election 2024 race to White House has drawn polarized reactions and backings from American celebrities.
JSW MG Motor India is shifting focus to new energy vehicles, launching the electric crossover 'MG Windsor'. The company aims for over 50% of its sales to come from electric vehicles by 2024. Currently, EVs account for 35% of sales. The Windsor features a 38 kWh battery with a range of 331 kms and will be available from October.
The Nifty Pharma index closed 0.16 per cent down at 23220.4.
A survey by FICCI and IBA reveals that 62% of banks expect non-food industry credit growth to exceed 12% in the next six months. The banking sector remains robust, but faces liquidity challenges as credit growth outpaces deposits. Infrastructure, metals, and engineering sectors show strong long-term credit demand.
The Mahayuti alliance, including BJP, Shiv Sena, and NCP, is grappling with seat-sharing negotiations for the upcoming state assembly elections. With 288 seats in contention, BJP aims for 160 seats, Shiv Sena seeks 100-105, and NCP eyes 60-80. The final seat-sharing formula is expected soon amid internal tensions.
French authorities thwarted three plots targeting the Olympic and Paralympic Games in Paris, including plans to attack Israeli institutions. Five suspects, including a minor, were arrested. The threats came amid heightened security due to ongoing global conflicts. Increased preventive measures were implemented to ensure safety during the events.
The 30-share BSE Sensex closed down 398.13 points at 81523.16
IIT Guwahati acknowledged the distress caused by a student's death and said it was committed to ensuring a safe environment. The institute is reviewing safety protocols and enhancing wellbeing services. Students have been urged to refrain from protests and focus on their studies while utilising available support resources.
Manchester United reported a larger annual net loss for the fifth consecutive year, with a net loss of 113.2 million pounds for the year ending June 30. Despite this, the club achieved record annual revenue of 661.8 million pounds. The newly appointed CEO, Omar Berrada, aims to enhance financial sustainability and on-pitch performance.
Baramulla MP Engineer Rashid has been released from Tihar Jail on interim bail to campaign for the upcoming Jammu and Kashmir Assembly elections. Rashid, who has been in jail since 2019 for a terror funding case, will be campaigning for his party, Awami Ittehad Party (AIP). The elections are scheduled in three phases this September.
The Nifty IT index closed 0.4 per cent down at 42473.3.
Mexico's Senate has approved a judicial reform proposed by outgoing President Lopez Obrador and supported by President-elect Sheinbaum. The reform includes the popular election of judges, reducing Supreme Court judges from 11 to nine, and cutting their terms to 12 years. The US and Canada have expressed concerns over its potential impact on democracy and stability.
The NSE Nifty index closed 122.65 points down at 24918.45
CPI(M) General Secretary Sitaram Yechury remains in the ICU at AIIMS, where his condition is described as "critical but stable." The 72-year-old is receiving oxygen support and is being closely monitored by a team of doctors. He was admitted on August 19 for a pneumonia-like chest infection and is currently being treated for an acute respiratory tract infection.
Huawei's new tri-foldable Mate XT smartphone has sparked national pride in China, being seen as a technological triumph over U.S. sanctions. Launched alongside Apple's AI-enhanced iPhone 16, the Mate XT's high price of $2,800 has drawn criticism amid economic concerns. Both phones will be available on Sept. 20.
The Nifty Realty index closed 1.16 per cent down at 1026.65.
In the Nifty pack, 12 stocks closed in the green, while 38 stocks ended in the red.
Today's world has seen frequent earthquakes for a variety of causes. Here are some safety measures to be ready for.
The S&P BSE Sensex dropped by nearly 400 points, while the Nifty50 managed to stay above the 24,900 mark.
JM Financial forecasts a 13.4% upside for Persistent Systems (PSYS) with a target price of Rs 6,030, citing strong deal wins and stable revenue momentum. Expected to achieve a 15.5% EBIT margin by FY25, PSYS shows promising medium-term growth.
The government will need three to four months to complete the process of forming ISM 2.0. The minister said the IT ministry will take some of the new proposals as well as a modernisation plan for the Semiconductor Laboratory in Mohali to the cabinet soon.