Market Downfall: Sensex and Nifty Decline Amid Foreign Fund Selling Spree
Mumbai, Dec 4: The Indian markets witnessed a sharp decline in early trade on Monday, with the equity benchmark indices dropping due to relentless foreign fund outflows and selling in IT stocks.
The BSE benchmark Sensex depreciated by 156.72 points to close at 77,423.59 in early trade, while the NSE Nifty dipped 64.25 points to end at 23,468.45.
The decline is attributed to a spate of selling activity by foreign institutional investors (FIIs), with IT stocks suffering particularly heavy losses. The IT sector has been a major contributor to India's exports, and concerns about global economic slowdown have led to a selloff in the sector.
Markets remain under pressure amidst weak leads from US markets, which reported disappointing economic data. This has led to increased selling activity by FIIs, further exacerbating the market downturn.
Stay tuned for more updates on this developing story!
Bridge Construction Misses Deadline Again
Mumbai, Dec 4: The Brihan Mumbai Corporation (BMC) once again missed its deadline for completing the Gokhale bridge construction project. The corporation had targetted lower the second girder of the bridge by November 14, but it appears that the work is still at a height of 15 meters.
The BMC has been struggling to complete the project in time since its commencement two-and-a-half years ago. Several deadlines set for the bridge's completion have already lapsed, including an assurance to complete two lanes by May 2023 and four lanes by the end of that year.
A team from the BMC is currently assessing the situation on the ground. The corporation has assured that every possible measure will be taken to complete the project at the earliest.
Man Arrested for Murdering nine-year-old Boy in Santacruz
Mumbai, Dec 4: The Santacruz police have arrested a notorious serial killer in connection with the murder of a nine-year-old boy. Maheshwar Mukhiya, a garment shop worker, allegedly abducted and strangled the boy in Santacruz West.
The incident occurred on Chhath Puja evening, when the boy was taken from his residence and later found murdered. Police arrested Mukhiya after receiving a tip-off regarding the killer's identity.
The murder has sent shockwaves through the local community, with many expressing sadness over the loss of young life. An investigation into the incident is on-going, and authorities have assured that those responsible for the child's death will be held accountable.
Yuvraj Singh Opens Up on Team Success
Mumbai, Dec 4: Former Indian cricketer Yuvraj Singh has expressed faith in his team's ability to bounce back from a crushing series loss against New Zealand. In an exclusive interview with Mid-Day, Singh emphasized that the team would face challenges but vowed to overcome them.
India suffered a 0-3 drubbing at home against the Black Caps, sparking concerns about the team's overall quality but Singh believes in their potential for success in the upcoming series.
"The game is not won or lost by just three matches," he said. "We have to assess our performance and use it as an opportunity to learn from mistakes. I believe we'll bounce back strongly."
Tiger Shroff Kicks Off Baaghi 4 Shoot
Mumbai, Dec 4: Actor Tiger Shroff has commenced filming for the fourth installment of the popular action franchise Baaghi. Director A Harsha is helming this latest project.
Shots began at Golden Tobacco factory in Vile Parle over the weekend and have already set off firecrackers with adrenaline pumping sequences.
The lead actor, known for his daredevil stunts, performed the first stunt himself. This signalled a high level of production quality for the sequel.
Filming is expected to conclude by May next year, after which editing and post-production will resume before its expected theatrical release.