In opening session, both indices plunged over 10 per cent, hitting their lower circuit levels, as new coronavirus-led recession fears triggered panic selling in the market.
As benchmarks world over go into panic mode, insinuating a freakish selloff— Sensex sank 3,213 points in early trade while Nifty crashed by 966.10 points.
The yield on the benchmark 10-year debt slid below 6% for the first time since 2009. The Sensex fell 5.2% to 35,634.95 – its biggest drop since Aug 2015.
ONGC was the top laggard in the Sensex pack, nosediving up to 11 per cent, followed by IndusInd Bank, RIL, PowerGrid, Tata Steel, L&T, SBI and Tech Mahindra.
SBI cracked over 6 per cent and was among the top losers on Sensex following news that it will inject capital into Yes Bank, whose shares also tanked 25 per cent.
All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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