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Sensex Plunges Over 900 Points Amid Middle East Tensions

April 15, 2024

Equity benchmark indices tanked in early trade on Monday, with the Sensex tumbling 929.74 points, amid the ongoing conflict in the Middle East and weak trends from global markets.

 Foreign fund outflows and hotter-than-expected US inflation data also played spoilsport for the markets. Extending its previous day’s decline, the 30-share BSE Sensex tanked 929.74 points to 73,315.16. 

The NSE Nifty declined 216.9 points to 22,302.50. From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.

 Tata Consultancy Services climbed nearly 1 per cent after the IT services major on Friday reported a 9 per cent growth in net profit at Rs 12,434 crore in January-March quarter of FY24 due to strong domestic business even as the company struggled in its key markets overseas. 

 Nestle and HCL Technologies were the other gainers. In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the positive territory. Wall Street ended significantly lower on Friday.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)

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