Business
Omicron scare: Sensex falls over 1000 points in opening session; Nifty at 16,677
The stock benchmark Sensex plummeted by more than 1,000 points in early trading on Monday, following a global market sell-off, as concerns about the rise in the Omicron case frightened investors.
The continued outflow of foreign capital has also suppressed investor sentiment.
The 30-share index dropped 1,028.61 points, or 1.80%, to 55,983.13 at the opening. Similarly, Nifty fell 307.50 points or 1.81% to 16,677.70.
Bajaj Finance was the biggest loser in the Sensex package, down about 4%, followed by Tata Steel, SBI, NTPC, M&M and HDFC Bank.
On the other hand, Sun Pharma is the only winner.
On the previous trading day, the 30-share benchmark index closed at 57,011.74, down 889.40 points or 1.54%. Similarly, NSE Nifty fell 263.20 points, or 1.53%, to 16,985.20.
According to stock exchange data, foreign institutional investors (FII) are still net sellers in the capital market because they sold shares worth 206.99 billion rupees on Friday. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said that the merger of advanced economies created a perfect storm that shocked the market last week.
“These negative factors continue to exist, causing people to worry about further downtrends in the market, especially if FII continues to sell. But the negative sentiment is unlikely to last for a long time. Although the Omicron variant spread quickly, it has not been as worried as people are worried. It is highly toxic. In addition, when the valuation becomes attractive, FII will quickly become a buyer,” he pointed out.
Elsewhere in Asia, the exchanges in Shanghai, Hong Kong, Tokyo, and Seoul suffered heavy losses in intraday trading as fears of a resurgence of COVID cases have hit global sentiment.
Complete News Source : Hindustan Times
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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