Markets Plunge Amid Soaring Inflation and Foreign Fund Exodus

Mumbai, Dec 07: The Indian stock market opened in red on Wednesday, with stocks plummeting due to soaring inflation and a surge in foreign fund outflows. The BSE benchmark Sensex declined 239.69 points to 78,435.49 in early trade, while the NSE Nifty fell 103.15 points to 23,780.30.

The market's decline came amidst reports of rising retail inflation, which jumped to a 14-month high of 6.21 per cent in October. The government had recently raised interest rates by 50 basis points to combat the slowdown in economic growth and curb inflation.

In addition, foreign institutional investors (FII) continued their withdrawal from Indian stocks, further fueling market volatility. Overall, the decline was attributed to a combination of factors including muted quarterly earnings and weak trends in global markets.

Hawkers Ignite Dispute Between State and Municipal Corporation in Bombay High Court

In related news, the Bombay High Court has expressed strong dissatisfaction over the handling of illegal hawkers in Mumbai. Advocates representing the bar council presented a report by mid-day on Tuesday before the court, citing instances where BEST services had been disrupted due to excessive hawker presence.

Lawyers argued that the state and Municipal Corporation (BMC) were not acting adequately to address the issue, despite repeated assurances from the government to regulate street vendors. The court has now issued stringent orders calling for drastic measures to curb hawkers' activities.

Mumbai Loses Rs 1,000 Crore to Cyber Fraud in Just 10 Months

Cyber crime experts have warned that Mumbai is losing a staggering one thousand crore rupees to cyber fraud every year since the past ten months. Data collected by MUMBAI CYBER shows that most of these losses were incurred during initial hours following the fraud as authorities manage to freeze only Rs 129 crore.

Tight Security Foiled Indian Team's Camera-Friendly Session Ahead Of Border-Gavaskar Trophy Practice

Indian Cricket Team: The practice match scheduled in Australia today did not go as smoothly when team members faced stringent security restrictions preventing their interaction with local photographers at Perth’s Optus Stadium. Similar precautions would be imposed on a team engaged in playing an international match.

Ajay Devgn's New Film, 'Ranger', Adds To His Action-packed Filmography

Ajay Devgn is reportedly set to star in another action film titled "Ranger". Details of the project remain scarce but mid-day has confirmed that production begins soon.