Business
Sensex tanks 988 pts in opening session; Nifty sheds 262 pts to trade at 17,015
Equity benchmark Sensex opened more than 1,100 points or 2 percent lower on Thursday, tracking losses in index majors Titan, Wipro and the HDFC twins amid a softening trend in Asian markets.
Traders said the Fed’s hint that it would raise interest rates soon and continued foreign capital outflows weighed on sentiment.
The BSE indicator was down 1,155.61 points, or 2%, at 56,702.54 in early trade. Likewise, the Nifty fell 329.15 points or 1.91% to 16,948.80.
Titan was the biggest loser in the Sensex portfolio, down 4.06%, followed by Wipro, Dr Reddy’s, HDFC Bank, Tech Mahindra and Infosys.
On the other hand, Maruti and NTPC are the winners.
Stocks, foreign exchange and gold markets were closed on Wednesday due to Republic Day.
On Tuesday, the 30-share BSE Sensex closed up 366.64 points, or 0.64%, at 57,858.15. Likewise, the broader NSE Nifty was up 128.85 points, or 0.75 per cent, at 17,277.95.
The Federal Reserve said Wednesday that it may raise interest rates in March to fight inflation.
Elsewhere in Asia, stocks in Shanghai, Hong Kong, Seoul and Tokyo fell sharply in intraday trade.
The U.S. stock exchange ended the overnight session mixed.
Meanwhile, Brent crude, the international oil benchmark, rose 0.93% to $89.12 a barrel.
Foreign institutional investors (FII) remain net sellers in capital markets, withdrawing Rs 7,094.48 crore on Tuesday, according to provisional data
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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