Connect with us

National

Markets Fall as Investors Stay Wary Over Trump’s Tariff Pledge

Published

on

The stock market experienced a significant drop on Monday, falling by over 0.7%. Investor sentiment remained cautious in response to US President Donald Trump’s commitment to tariffs. This reaction mirrored declines across many Asian markets, with concerns increasing over potential disruptions to global supply chains.

Benchmark indices fell for the fourth consecutive session. By the close of trading, the Sensex had decreased by 0.7% (or 548 points), finishing at 77,311.80. Similarly, the Nifty50 index saw a decline of 0.76% (or 178.35 points), ending at 23,381.60. The Nifty fluctuated throughout the day, reaching a high of 23,568.6 and dipping to a low of 23,316.3, while the Sensex ranged between 77,849.58 and 77,106.89. All sectoral indices ended in negative territory, with metals, media, pharmaceuticals, consumer durables, energy, and real estate each down by 2%.

Indices such as Nifty Metal, Realty, Healthcare, Consumer Durables, Media, and select Consumer Durables experienced losses exceeding 2%. The Nifty Midcap 50 closed lower by 2.26%, while small-cap stocks lagged, with the Nifty Small Cap 100 finishing down by 2.11% at 17,006.85, a loss of 358.15 points.

On the Nifty 50, the notable gainers were Kotak Mahindra Bank (up 1.60%), Bharti Airtel (up 0.97%), Britannia Industries (up 0.80%), Tata Consumer (up 0.62%), and HCL Technologies (up 0.48%). In contrast, the biggest losers were Trent (down 4.72%), Power Grid Corporation of India (down 3.40%), Tata Steel (down 3.09%), Titan Company (down 2.84%), and Oil & Natural Gas Corporation (down 2.59%).

The Bank Nifty concluded at 50,158.85, with an intraday high of 50,155.65 and a low of 49,703.10. The Indian rupee reached a new record low of 87.9563 against the US dollar due to the introduction of new tariff plans by the US president. Out of the 20 constituents in the Nifty Pharma index, 19 saw declines, with Alkem Laboratories and Ipca Laboratories among the top losers. The Nifty Pharma index posted a 9% decline for January.

Advertisement

Among individual stocks, shares of Mazagon Dock Shipbuilders surged by 9.4% to Rs 2,440 for the second consecutive session. Bharat Electronics Ltd gained nearly 1% after securing various orders. Mahindra & Mahindra’s shares rose by about 2%, trading at Rs 3,244.10, thanks to strong Q3 earnings that drove the increase. In contrast, Swiggy’s shares fell by over 5%, marking an 18% decline since reporting its Q3FY25 earnings.

Continuing threats from US tariffs have affected market sentiment, while companies are facing downward revisions in earnings estimates due to weak demand conditions.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Man Dies by Suicide after Jumping from 43rd Floor

Published

on

Noida: A man died by suicide after jumping from the 43rd floor of the Supernova Tower in Noida on Saturday.

The incident took place at the Supernova complex in Sector 94. A video shows the man standing near the railing before jumping. Another person tried to stop him but could not prevent the incident.

Police identified the deceased as Sambhav Jain, a resident of Manesar, Haryana. He had reportedly checked into an Airbnb in the building on Friday and was scheduled to leave on Saturday.

Police said Jain had called his father several times before the incident. His family has been informed.

The police and forensic teams inspected the spot and collected evidence. CCTV footage is also being checked as part of the investigation.

Advertisement

READ MORE:Lineman Dies of Electric Shock While on Duty in Bantwal

Police said Jain was reportedly under severe financial stress. His body has been sent for a post-mortem examination.

The investigation is underway.

Continue Reading

National

Captain Smit Machchhar Shares Ordeal with PM Modi

Published

on

New Delhi: Prime Minister Narendra Modi spoke to Captain Smit Machchhar over a video call and praised his courage after he helped prevent a major air disaster.

Captain Machchhar was seriously injured after his co-pilot allegedly stabbed him during a flydubai flight from Dubai to Tel Aviv on Wednesday. The Boeing 737 MAX reportedly lost nearly 14,000 feet in less than 30 seconds.

Passengers and crew members entered the cockpit and overpowered the co-pilot. A second pair of pilots then took control and safely landed the aircraft in Tabuk, Saudi Arabia. More than 170 passengers and crew were on board.

Speaking from his hospital bed, Captain Machchhar told PM Modi that he was badly injured and had collapsed in the cockpit. He realised that the aircraft was rapidly losing altitude and that he had to act.

“I could not let all those people die,” he told the Prime Minister.

Advertisement

Captain Machchhar said his 17 years of flying experience helped him understand what was happening to the aircraft. He managed to open the cockpit door, after which passengers and crew came to his help.

READ MORE:CPI (ML) Liberation Protests in Bantwal, Demands Chief Election Commissioner’s Resignation

He also said he was chanting the Hanuman Chalisa while fighting the pain and fear.

PM Modi praised the captain’s courage, patience and presence of mind. He said Captain Machchhar’s actions helped save many lives and called his effort a “monumental task.”

Captain Machchhar, who is from Gujarat, has more than 9,750 flying hours and has served as a captain for 11 years.

Advertisement
Continue Reading

National

India’s First Port-Based E-Methanol Plant Comes Up at Kandla

Published

on

Gandhidham: India has taken a major step towards green shipping with the foundation stone laid for the country’s first port-based e-methanol production facility at Kandla in Gujarat.

Gujarat Chief Minister Bhupendra Patel, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, and Assam Chief Minister Himanta Biswa Sarma laid the foundation stone at the Deendayal Port Authority (DPA) on Saturday.

The Rs.2,300-crore project is a joint initiative of the Deendayal Port Authority and Assam Petro-Chemicals Ltd. The plant will produce 150 tonnes of e-methanol every day using renewable power, water and biogenic carbon dioxide.

E-methanol is considered a cleaner alternative fuel for the shipping sector. The facility will supply green fuel to ships operating on the Asia-Europe trade route.

The project will be developed in two phases. The first phase will have a production capacity of 50 tonnes per day and involve an investment of Rs.1,200 crore. It is expected to be completed by January 2027.

Advertisement

The second phase will add another 100 tonnes per day at an estimated cost of Rs.1,100 crore. It is targeted for completion by March 2027.

The Deendayal Port Authority will hold a 76 per cent share in the project, while Assam Petro-Chemicals Ltd will have a 24 per cent stake. DPA will provide Rs.567.32 crore as equity, along with 75 acres of land, desalinated water and renewable energy support.

The project is expected to create more than 3,500 direct and indirect jobs. It will also support activities such as transportation, storage and supply of green fuel around Kandla.

Speaking at the event, Bhupendra Patel said Gujarat’s coastline would play an important role in supplying green energy to the world. He described Kandla as a future gateway for India’s green energy exports.

Sarbananda Sonowal said the project marked another step in India’s growing maritime ambitions. He said Kandla could develop into a major green-fuel hub on the Singapore–Rotterdam shipping route.

Advertisement

Himanta Biswa Sarma said Assam would contribute to India’s clean energy transition through its natural resources and industrial strength. He described the project as an example of cooperation between Assam and Gujarat.

The facility is expected to support India’s long-term goal of achieving net-zero emissions by 2070. It is also linked to the government’s focus on energy self-reliance and the Make in India initiative.

The government is also working to strengthen India’s maritime sector. It has set a target of adding 100 new ships to the country’s merchant fleet over the next five years.

Several other maritime projects are also being developed in Gujarat, including a Rs.1,520-crore shipbuilding project at Vadinar and a proposed shipbuilding and repair cluster at Kuchhadi in Porbandar.

READ MORE:Tulu Sahitya Academy Announces Annual Honorary Awards

Advertisement

Kutch MP Vinod Chavda, Gandhidham MLA Maltiben Kishor Maheshwari, Assam government representatives, officials of Assam Petro-Chemicals Ltd and DPA Chairman Sushil Kumar Singh were among those present at the foundation stone ceremony.

 

 

Continue Reading

Trending