India’s stock benchmarks declined, dragged by broad based losses across sectors led by information technology stocks. The sharp fall comes after U.S. Federal Reserve officials emphasised the need to continue with monetary tightening in the central bank’s efforts to rein in inflation. The comments have spurred a decline in global equities.
Both the Sensex and Nifty fell the most in over two months since June 13. The S&P BSE Sensex shed over 2% to 57,627.47. The NSE Nifty 50 also declined by similar magnitude to 17,204.85. Today 49 of the Nifty 50 stocks logged losses with Britannia being the sole exception.
The broader indices almost mirrored their larger peers. All 19 sectoral indices compiled by BSE Ltd. fells with Information Technology gauge tumbling over 4%.
The market breadth is skewed in the favour of bears. About 542 stocks rose, 2,256 fell and 128 remained unchanged.
- NDTV Founders Radhika and Prannoy Roy informed the company that the promoter group vehicle RRPR Holding has asked SEBI whether its order on November 2020 restricted the conversion of warrants issued to VCPL into equity shares of RRPR Holding.
- Adani Enterprises has sought to convert warrants issued to it in 2009 to take an indirect 29.2% stake in NDTV.
L&T Technology Services Won A five-year, Multi-Million Dollar Deal From BMW Group
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- The deal pertains to providing high end engineering services for the company’s suite of infotainment consoles for BMW’s hybrid vehicles.
- L&T Technology will provide services in areas of software build, integration, infotainment validation and defect management.
