Sensex nosedives over 1,000 pts in early trade; Nifty tanks below 16,700
Mumbai(PTI): Equity benchmark Sensex plummeted over 1,000 points in early trade on Monday, tracking across-the-board losses amid a selloff in global markets as concerns over rising Omicron cases spooked investors.
Persistent foreign fund outflow too weighed on investor sentiment.
The 30-share index slumped 1,028.61 points or 1.80 per cent to 55,983.13 in the opening trade. Similarly, the Nifty tanked 307.50 points or 1.81 per cent to 16,677.70.
Bajaj Finance was the top loser in the Sensex pack, shedding around 4 per cent, followed by Tata Steel, SBI, NTPC, M&M and HDFC Bank.
On the other hand, Sun Pharma was the sole gainer.
In the previous session, the 30-share equity benchmark had ended 889.40 points or 1.54 per cent lower at 57,011.74. Similarly, the NSE Nifty had plunged 263.20 points or 1.53 per cent to 16,985.20.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,069.90 crore on Friday, according to stock exchange data.
Rising inflation, hawkish central banks, exploding COVID cases, sustained selling by FIIs and slowing growth momentum in the developed economies combined to produce the perfect storm that spooked the markets last week, said VK Vijayakumar, Chief investment Strategist at Geojit Financial Services.
"These negative factors persist, causing concerns about further downtrend in the market, particularly if FIIs continue to sell. But negative sentiments are unlikely to last long. Omicron variant, though fast spreading, has not proved to be highly virulent as feared. Also, FIIs will turn buyers soon when valuations become attractive," he noted.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in mid-session deals as concerns over resurgence of COVID cases battered global sentiment.
Meanwhile, international oil benchmark Brent crude fell 2.45 per cent to USD 71.72 per barrel.
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Actor Rajpal Yadav walks out of Tihar Jail after HC suspends sentence in cheque bounce cases
New Delhi (PTI): Actor Rajpal Yadav walked out of Tihar Jail on Tuesday evening after the Delhi High Court permitted his temporary release from jail in cheque bounce cases.
After all formalities were completed, Rajpal Yadav walked out of Tihar jail around 4.50 pm, a source said. He was granted relief after submitting Rs 1.5 crore to the complainant.
Speaking to reporters outside the jail, Yadav said he has received unwavering support from across the country.
“In 2027, I will have completed 30 years of working in Bollywood. Everyone has been with me. That is why I could do 200-250 films,” Yadav said.
The actor said he has always complied with the directions of the high court and would continue to do so, adding that he was available whenever required.
"The love and backing of people from across the nation remain with him, and that if there are any allegations, he is ready to respond fully and transparently," Yadav said.
“If anyone wanted legal details, they could speak to my advocate,” he added.
Justice Swarana Kanta Sharma granted interim suspension of the six-month sentence after noting that Yadav had deposited Rs 1.5 crore to the complainant, M/s Murali Projects Pvt Ltd.
"We are granting you an interim suspension of sentence... It is till the next date of hearing," the court said, while directing Yadav to surrender his passport and not leave the country without prior permission. The court also ordered him to remain present, either physically or virtually, on the next date of hearing on March 18.
Yadav had sought suspension of his sentence citing a marriage in his family on February 19.
Delhi: Actor Rajpal Yadav has been released from Tihar Jail pic.twitter.com/4iz1Jdbsi9
— IANS (@ians_india) February 17, 2026
