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.
Global equities soared after President Trump said the US is 'ready to embrace peace with all who seek it', a day after Iran attacked US military bases in Iraq.
Foreign funds have invested net $2.27 billion in Indian equities so far this month amid the prospect of more government stimulus to spur economic growth.
Uday Kotak's wealth nearly tripled since March 2014 when the RBI said he failed to meet the first of its successive milestones to reduce his stake in the Kotak Mahindra Bank.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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