|| What triggered SENSEX crash ?||
The Indian equity benchmarks were facing heavy selling pressure on Monday and were on track to close lower for fifth session in a row on the back of a broad-based selling pressure. The benchmarks opened lower and extended losses dragged by losses in index heavyweights Reliance Industries, HDFC, Tata Consultancy Services, ICICI Bank, ITC and Axis Bank. The Sensex fell as much as 1,165 points and Nifty 50 index touched an intraday low of 14,667.
As of 2:46 pm, the Sensex was down 920 points at 49,969 and Nifty 50 index fell 264 points to 14,739.
Reliance Industries was top drag on the Sensex, the stock fell nearly 3 per cent to 2,022 after the Supreme Court barred on Monday a final ruling by a tribunal reviewing Future Group's $3.4 billion sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, news agency Reuters reported citing three sources..
Amazon appealed to the Supreme Court this month against Future Group's sale to market leader Reliance Industries, accusing its partner of violating contracts by agreeing to the sale.
https://www.ndtv.com/business/share-market-live-update-sensex-drops-over-1-100-points-nifty-below-14-750-dragged-by-reliance-industries-2375962
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|| What triggered SENSEX crash ?|| The Indian equity benchmarks were facing heavy selling pressure on Monday and were on track to close lower for fifth session in a row on the back of a broad-based selling pressure. The benchmarks opened lower and extended losses dragged by losses in index heavyweights Reliance Industries, HDFC, Tata Consultancy Services, ICICI Bank, ITC and Axis Bank. The Sensex fell as much as 1,165 points and Nifty 50 index touched an intraday low of 14,667. As of 2:46 pm, the Sensex was down 920 points at 49,969 and Nifty 50 index fell 264 points to 14,739. Reliance Industries was top drag on the Sensex, the stock fell nearly 3 per cent to 2,022 after the Supreme Court barred on Monday a final ruling by a tribunal reviewing Future Group's $3.4 billion sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, news agency Reuters reported citing three sources.. Amazon appealed to the Supreme Court this month against Future Group's sale to market leader Reliance Industries, accusing its partner of violating contracts by agreeing to the sale. https://www.ndtv.com/business/share-market-live-update-sensex-drops-over-1-100-points-nifty-below-14-750-dragged-by-reliance-industries-2375962