Published 18:07 IST, July 2nd 2024

Closing Bell: Sensex crashes 4,390 points, Nifty dips below 22,000 as BJP misses majority mark

Giving a big thumbs up to Lok Sabha election exit polls, the stock market reached fresh highs on Monday. The market optimism fizzled out as BJP led NDA was seen getting narrower majority.

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18:07 IST, July 2nd 2024

India's coal production rises 14%  in June

The coal production in the country rose by 14.49 per cent to 84.63 million tonne (MT) in June. The country's coal output was 73.92 MT in June last fiscal, according to provisional figures of the government.

13:29 IST, July 1st 2024

Mahindra & Mahindra sells 40,022 SUVs to clock 23% growth in June

Country's one of the leading SUV makers Mahindra & Mahindra Ltd saw its overall auto sales for the month of June 2024 at 69,397 vehicles, a growth of 11 per cent. 
This sales data also includes exports. In the Utility Vehicles segment, Mahindra saw sales of 40,022 vehicles in the domestic market, a growth of 23 per cent, and overall, 40,644 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 20, 594, as per a company statement.


07:00 IST, June 29th 2024

Airtel, Vi to raise mobile tariff in 10-24% range from July first week

The roll out of revised mobile service tariffs by telcos Bharti Airtel and Vodafone Idea with increased rates in the range of 10-24 per cent will be seen from the first week of July.
While Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs effective from July 3, a day after leading telco and Bharti Airtel’s major rival Reliance Jio announced an increase in rates.

15:38 IST, June 4th 2024

Sensex crashes 4,390 points, Nifty falls below 22,000 as NDA gets narrower majority

The Indian equity benchmarks witnessed their worst day since the onset of the Coronavirus pandemic after Prime Minister Narendra Modi-led Bharatiya Janata Party (BJP) failed to cross the majority mark of 272 although its National Democratic Alliance (NDA) was set to form the government but with a narrower majority eroding the confidence of market participants who were expecting the BJP to improve upon its previous tally of 303.

Both Sensex and Nifty went into a tailspin with Sensex dropping as much as 6,234.35 points or 8.15 per cent to hit an intraday low of 70,234 and Nifty crashing as much as 1,982 points or 8.52 per cent to hit an intraday low of 21,281.45.

13:52 IST, June 4th 2024

FMCG shares outperform amid bloodbath on Dalal Street

Shares of fast moving consumer goods (FMCG) companies were trading higher amid sharp cuts for benchmark indices. Nifty FMCG index was up 0.66 per cent led by gains in Hindustan Unilever, Dabur, Colgate Palmolive, Britannia Industries, united Breweries, Godrej Consumer Products, Marico and United Spirits.

12:59 IST, June 4th 2024

State-owned banks tumbles 15%

The shares of Public Sector Undertakings and state-owned banks fell as much as 15 per cent amid the crash as Indian Bank fell 17.5 per cent, Union Bank fell 17.41 per cent, Punjab National Bank dipped 16.21 per cent, Bank of Baroda down by 16.23 per cent, and Canara Bank down by 14.31 per cent on NSE. 

12:37 IST, June 4th 2024

Biggest stock market crash since pandemic; Sensex tanks 6,000 points

India’s election result day has been a wild ride for the domestic stock market as the BSE index faced its worst crash since the pandemic. The BSE Sensex fell as much as 6,000 points or more than 8 per cent in mid-day as PM Modi’s Bhartiya Janta Party struggles to achieve a majority on its own. 

The National Stock Exchange’s Nifty 50 is also facing a ruthless bloodbath as the index has tanked more than 1860 points or 8.03 per cent, losing the key support level of 22,000. The index is gunning towards testing the 21,000 level, breaking which can cause even a larger sell-off rally. 

12:09 IST, June 4th 2024

Sensex nosedives 4,500 points, Nifty tanks 6%

BSE Sensex has crashed 4,500 points to fall below the 72,000 mark as PM Modi’s National Democratic Alliance gets into a strong tussle with INDI Alliance in election results trends. The market is reacting aggressively to the election result trends as Nifty tanks 1,475 points or 6.34 per cent and currently hovering at 21,777. 

Out of 50 stocks in NSE’s Nifty 50, 46 were trading in red with only Hindustan Unilever, Britannia, Nestle India, and Cipla being the only exceptions. 


11:57 IST, June 4th 2024

Microsoft hit with Austrian privacy complaints over its education programme

Microsoft on Tuesday found itself targeted in two complaints filed by privacy advocacy group NOYB to the Austrian privacy watchdog related to its online education software, the latest grievances levelled against the U.S. tech giant.

Online educational programmes gained in popularity during the COVID-19 pandemic as schools switched to remote teaching and students became online learners.

10:42 IST, June 4th 2024

UBS lifts MSCI AC World index's end-2024 forecast to 830

UBS raised its year-end 2024 forecast for the MSCI All Country (AC) World index to 830 from 800 on Tuesday, citing improving equity risk appetite, optimism around artificial intelligence and a potential slowing of US wage growth.

The brokerage's current forecast gives a 6% 'upside' potential by the end of the year for the benchmark index, which is used to gauge the broader global equity market performance.

10:17 IST, June 4th 2024

Rupee dips as forex market faces strong voltaltiy

On Tuesday, the Rupee experienced a decline as initial trends in election results triggered increased demand for the US dollar, with uncertainty prevailing regarding the election results. 

As of 09:55 am, the Rupee stood at 83.3575 against the US dollar, down from 83.1425 in the previous session. During early trading, the rupee reached an intra-day low of 83.4375.

10:10 IST, June 4th 2024

Sensex recovers 600 points, Nifty above 22,750 amid strong market volatility

After facing a strong decline in the early trade, stock markets have shown some recovery as BSE’s Sensex has reclaimed 600 points while Nifty 50 is moving above 22,750. 


As of 10:08, BSE’s Sensex was down by 1,644 points or 2.15 per cent at 74,824 while Nifty 50 was down by 475 points or 2.05 per cent at 22,788. 

10:04 IST, June 4th 2024

Shares of Adani Group companies take a hit after strong gains on Monday

After registering massive gains on Monday, Adani Group companies took a strong hit in the early trade on Tuesday as the market reacted aggressively to early election trends. 

  • Shares of Adani Enterprises were down 6.73 per cent to 3400.00
  • Shares of Adani Power were down 2.72 per cent to 851.50
  • Shares of Adani Total Gas were down 7.27 per cent at 1,038.45.
  • Shares of Adani Ports and Special Economic Zones were down 6.84 per cent at 1,476.00
09:57 IST, June 4th 2024

Markets will remain volatile as numbers change every minute: Motilal Oswal

Talking about the market volatility in the earlier trade, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services told Reuters, "The leads for the NDA are much lower than what the market could be comfortable with. It's very early and markets will remain will volatile depending on how the numbers change every minute." 

09:50 IST, June 4th 2024

Market volatility kicks in as NDA faces strong fight in election results

Following a 15 per cent decline on Monday, driven by heightened market optimism due to exit polls, the INDIA VIX, commonly referred to as the Volatility Index, surged by 18.05 per cent to reach 24.74.

Image credit: Tradingview

In the previous session, the INDIA VIX had remained around 20. As of 09:49, the INDIAVIX was hovering at 24.0050. 


09:47 IST, June 4th 2024

Majority stocks in Nifty 50 trading in red

Out of 50 stocks in NSE’s Nifty 50, 48 were trading in red with only Hindustan Unilever and Sun Pharma being the only exception. 

Adani Enterprises has lost close to 10 per cent in the early trade followed by Adani Ports which is down by 8.44 per cent, and Coal India down by 7.47 per cent. Following the decline are NTPC, Power Grid, ONGC, SBI, and L&T.  

09:45 IST, June 4th 2024

Stock market live: All sectoral indices trade in red amid investor concerns

Stock market live: Benchmark indices fell during early trade on Tuesday as the Lok Sabha election vote counting hints at a tough battle for PM Narendra Modi-led National Democratic Alliance.

All 16 sectoral indices are currently trading in red. 

Read full story here:

09:12 IST, June 4th 2024

GIFT Nifty tanks ahead of market open, down by 400 points

GIFT Nifty erased all of its gains and tanked by over 400 points right before the market opened as traders swayed in to book strong profits. 

Image credit: TradingView

The markets are expected to react strongly to early election result trends in which NDA is taking a substantial lead over INDI Alliance. 

08:54 IST, June 4th 2024

GIFT Nifty erases early gains, trades 110 points down at 23,351

GIFT Nifty has moved below the psychological mark of 23,500 points as the market indicator reacts to the early trends. 

Image credit: Tradingview

As of 08:54, the GIFT Nifty was hovering at 23,351, down by 114  points. 

PM Modi-led NDA has gained a strong advantage over the INDI Alliance, crossing the majority mark in early trends. 

08:11 IST, June 4th 2024

Rupee to open slightly higher as traders await election results

The Rupee is expected to open marginally higher on Tuesday, with its intraday movement largely influenced by the results of the country's general elections.

Non-deliverable forwards (NDF) suggest the Rupee (INR=IN) will open at 83.08-83.10 against the US Dollar, compared to the previous session's close of 83.1425.

The initial uptick indicated by NDF is attributed to overall Dollar weakness, which is not expected to have a significant impact today, according to an FX trader at a bank.

(With Reuters inputs.)

08:09 IST, June 4th 2024

Lok Sabha election counting begins | Gift Nifty inches up to 23,500

The vote counting for the Lok Sabha Elections has begun at 08:00 am with NDA taking the lead of seven seats, while INDI Alliance gaining momentum in one seat in early count.

The GIFT Nifty has also inched 25 points up to reach 23,500 points, indicating an upside of 237 points from yesterday’s closing of 23,263 points. Analysts are optimistic about the market opening, suggesting both Nifty and Sensex to open in green. 

07:46 IST, June 4th 2024

Spotify hikes prices of its premium plans in United States

Spotify raised prices for its premium plans in the United States on Monday, marking the latest move by the Swedish music-streaming service to improve its margins.

Image credit: Unsplash

The company increased the price of its individual plan from $10.99 to $11.99 per month, the duo plan from $14.99 to $16.99, and the family plan from $16.99 to $19.99 in its largest revenue market.

In recent months, Spotify has been working to enhance its margins by reducing marketing expenses and implementing layoffs, following a period of heavy investment and promotions aimed at driving user growth.

(With Reuters inputs)

07:45 IST, June 4th 2024

Google set to lay off at least 100 employees

Alphabet-owned Google is laying off at least 100 employees from various teams in its cloud unit, according to media reports.

Google logo

Image credit: Unsplash

According to the report, roles in sales, operations, engineering, consulting, and "go to market" strategy were among those affected, citing internal correspondence.

"We continue to evolve our business to meet our customers' priorities and the significant opportunity ahead," a Google spokesperson told Reuters in an emailed statement.

(With Reuters inputs)

07:41 IST, June 4th 2024

Japanese Finance Minister warns of action against disorderly yen movements

Japan will continue to closely monitor the foreign exchange market and take all necessary measures against disorderly currency movements, Finance Minister Shunichi Suzuki stated on Tuesday, confirming that Tokyo had recently intervened to curb yen weakness.

Japan finance minister says volatility, not yen levels, key on intervention  | Reuters

Japan's Finance Minister Shunichi Suzuki | Image credit: Reuters 

Suzuki's remarks came after the Ministry of Finance released data on Friday revealing that authorities had spent 9.79 trillion yen ($62.2 billion) over the past month to support the yen.

(With Reuters inputs)

07:36 IST, June 4th 2024

Govt mandates self-declaration certificates for advertisers starting June 18

On Monday, the government directed all advertisers and advertising agencies to submit a self-declaration certificate affirming that their advertisements do not contain misleading claims and comply with regulatory guidelines.

high-angle photography of grocery display gondola

Image credit: Unsplash

This self-declaration is required for all new print, digital, television, and radio advertisements, as mandated by a Supreme Court directive issued last month.

According to a statement from the Information and Broadcasting Ministry, the Supreme Court directive aims to ensure transparency, consumer protection, and responsible advertising practices.

(With PTI inputs)

07:29 IST, June 4th 2024

GIFT Nifty zooms 110 points, pre-market indicators remain bullish

GIFT Nifty, a derivative contract linked to India's Nifty 50 index and a strong pre-market indicator, has inched 111 points higher as of 07:24 am, indicating a strong start to Indian stock market indices. 

Stock markets have shown remarkable performance a day before Lok Sabha election results with BSE’s Sensex posting its best day in the last 4 years. 

At 7:27 am, GIFT Nifty was trading 101 points up at 23,568. 

07:23 IST, June 4th 2024

Very hard not to be optimist on India: Market experts

Stock market experts are bullish on India’s growth as the economy is growing at an unprecedented pace and policies are conducive to foreign investments. 

2023 saw equity market investors get richer by Rs 81.90 lakh crore - Republic  World

Image credit: Republic Business 

"Markets have rallied around the expected election results and it is very hard not to be an optimist on India," said Vivek Bhutoria, portfolio manager for emerging market equities at Federated Hermes.

"Policies are being put in place to attract investments and the realignment of the global supply chain is going to benefit India over time. We are already starting to see some benefits in terms of electronics and chemical exports."

07:17 IST, June 4th 2024

Lok Sabha Election Results 2024 | Counting of votes to start at 08:00 am across India

The decisive part of the Lok Sabha elections 2024 is set to start as the counting of votes begins at 8 am across the country. 

How Are Votes Counted? Know Process, Timing

Image credit: PTI

The process will begin with the counting of postal ballots, followed by the opening of the EVMs, announced Chief Election Commissioner Rajiv Kumar.

07:12 IST, June 4th 2024

Stock futures inches higher, rupee stable before Lok Sabha results counting starts

Stock futures edged higher, and the rupee remained steady as votes in the world's largest election were set to be counted on Tuesday. Prime Minister Narendra Modi is widely expected to secure a decisive mandate and a rare third term, according to exit polls. 


Image credit: @NarendraModi/

On Tuesday, NIFTY 50 index futures (GIFc1) rose 0.21 per cent in early trade, according to data from the NSE International Exchange, indicating another record-high open.

On Monday, the Nifty index closed up 3.25 per cent at 23,263.90 points after reaching a record high of 23,338.70 points following exit polls.

The BSE’s Sensex ended Monday up 3.39 per cent at 76,468.78 points, just below its lifetime peak of 76,738.89 points reached earlier in the day.


07:07 IST, June 4th 2024

FSSAI directs food businesses to remove '100% fruit juice' labels

The Food Safety and Standards Authority of India (FSSAI) has directed food business operators to immediately remove claims of "100 per cent fruit juices" from advertisements and labels on packaged products.

man on front of vending machines at nighttime

Image credit: Unsplash

In an official statement, the FSSAI issued a directive requiring all food business operators (FBOs) to cease making claims of "100 per cent fruit juices" on the labels and advertisements of reconstituted fruit juices with immediate effect.

FBOs have also been instructed to use up all existing pre-printed packaging materials by 1st September 2024. The FSSAI noted that several FBOs have been inaccurately marketing various types of reconstituted fruit juices as "100 per cent fruit juices," prompting this action.

(With PTI inputs)

07:03 IST, June 4th 2024

Adani Group stocks to remain in focus

The stocks of Gautam Adani-led Adani Group will remain in focus after registering strong gains on the first trading day of June. 

Image credit: Republic Business

Adani Enterprises gained over 6.8 per cent, Adani Ports gained 10.25 per cent, Adani Power raked in 15.64 per cent returns for its investors, Adani Energy Solutions was up 8.84 per cent, Adani Total Gas gained 7.77 per cent, Adani Wilmar traded 3.51 per cent up, and ACC Limited was up 5.61 per cent on June 1. 

06:55 IST, June 4th 2024

New York Stock Exchange glitch sparks market volatility

A glitch at the New York Stock Exchange (NYSE) on Monday caused massive swings in the shares of Berkshire Hathaway and Barrick Gold, and led to trading halts in dozens of other companies before the issue was resolved. 

a bank sign in front of a building

Image credit: Unsplash

The NYSE, owned by Intercontinental Exchange, announced by late morning that the technical problem had been fixed and that the affected stocks had resumed trading. 

This incident marked the second stock market disruption in less than a week, following a glitch last Thursday that interrupted the dissemination of real-time data for the S&P 500 and Dow Jones indexes for over an hour.

06:49 IST, June 4th 2024

Asian markets open lower as global investors eye India’s Lok Sabha results

Asian stocks opened lower on Tuesday after starting June on a strong note, as investors await the final results of India's general elections.

Japan's Nikkei 225 opened 0.4 per cent lower, while the broader Topix declined by 0.14 per cent.

South Korea's Kospi fell 0.28 per cent, and the smaller-cap Kosdaq edged down by 0.09 per cent. Futures for Hong Kong's Hang Seng index were at 18,092, indicating a lower open compared to the HSI's previous close of 18,403.04. In Australia, the S&P/ASX 200 index remained flat.

06:43 IST, June 4th 2024

GIFT Nifty trades 90 points up, market optimism kicks in

GIFT Nifty, a derivative contract linked to India's Nifty 50 index and a pre-market indicator, has opened 39 points up on Lok Sabha election results day on June 4. The stock markets recorded fresh highs on Monday and pre-market indicators are stipulating the continued optimism in the market. 

black and silver laptop computer

Image credit: Unsplash

As of 6:42 am, GIFT Nifty was trading 90 points up at 23,555. 

06:37 IST, June 4th 2024

Sensex surges 2,507 points posts best day in over 4 years

The domestic equity benchmarks posted their best day in over four years after exit polls released on Saturday, June 1 predicted Prime Minister Narendra Modi-led Bharatiya Janata Party (BJP) to emerge as the single largest party and form the government at the centre thereby hinting at policy stability and the pace of economic reforms to gather pace going ahead.

black and silver laptop computer

Image credit: Unsplash

Markets gave a big thumbs up to the outcome of exit polls as Sensex rose as much as 2,777.58 points or 3.75 per cent to hit a record high of 76,738.89 and the Nifty 50 index climbed 808 points or 3.58 per cent to hit an all-time high of 23,337.90.

06:38 IST, June 4th 2024