Sensex nosedives over 1,400 pts in early trade; Nifty tests 14,400
Mumbai: Equity benchmark Sensex plummeted over 1,400 points in early trade on Monday, tracking losses in index-heavyweights HDFC twins, ICICI Bank and Reliance Industries as spiking COVID-19 cases in the country spooked investors amid negative cues from global markets.
The 30-share BSE index was trading 1,427 points or 2.88 per cent lower at 48,164.32.
Similarly, the broader NSE Nifty plunged 431.90 points or 2.91 per cent to 14,402.95.
IndusInd Bank was the top loser in the Sensex pack, tanking around 8 per cent, followed by SBI, Bajaj Finance, Bajaj Auto, Titan, ICICI Bank, Bajaj Finserv and Maruti.
On the other hand, Infosys was the sole gainer.
In the previous session, Sensex had settled 154.89 points or 0.31 per cent lower at 49,591.32, and Nifty slipped 38.95 points or 0.26 per cent to 14,834.85.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 653.51 crore on Friday, according to provisional exchange data.
"Since the second wave of the pandemic is turning out worse than expected, there is profound uncertainty about its impact on the economy and markets, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The situation is the worst in economically significant Maharashtra. This can impact the market's assumption of around 11 per cent GDP growth and above 30 per cent earnings growth, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo were in the red in mid-session deals, while Seoul was trading with mild gains.
Meanwhile, international oil benchmark Brent crude was trading 0.05 per cent higher at USD 62.98 per barrel.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
London, Nov 22: A bomb disposal squad deployed as a “precaution” to the South Terminal of Gatwick Airport concluded an investigation into a "security incident" on Friday after making a “suspect package” safe.
The South Terminal of Gatwick Airport, the UK's second busiest airport after Heathrow, which was briefly shut owing to the incident reopened following the incident.
The Gatwick is around 45 km south of London.
Two people detained during the enquiries have since been allowed to continue their journey as the airport was opened.
“Police have concluded their investigation into a report of a suspect package at Gatwick Airport. Officers from the EOD (Explosive Ordnance Disposal) team made the package safe, and the airport has been handed back to its operator,” Sussex Police said in an updated statement.
“Two people detained while enquiries were ongoing have subsequently been allowed to continue their journeys. There will remain an increased police presence in the area to assist with passengers accessing the South Terminal for onward travel,” the statement added.
Earlier on Friday, the incident caused severe disruption at the busy airport’s South Terminal, while the North Terminal of Gatwick Airport remained unaffected.
“Police were called to the South Terminal at Gatwick Airport at 8.20 am on Friday (November 22) following the discovery of a suspected prohibited item in luggage,” a Sussex Police statement said.
“To ensure the safety of the public, staff and other airport users, a security cordon has been put in place whilst the matter is dealt with. As a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed to the airport. This is causing significant disruption and some roads around the South Terminal have been closed. We’d advise the public to avoid the area where possible,” it said.
Footage on social media taken outside the airport showed crowds of frustrated travellers being moved away from the terminal building.
Gatwick said it was working hard to resolve the issue.
“A large part of the South Terminal has been evacuated as a precaution while we continue to investigate a security incident," the airport said in a social media post.
“Passengers will not be able to enter the South Terminal while this is ongoing. The safety and security of our passengers and staff remain our top priority. We are working hard to resolve the issue as quickly as possible.”
Train and bus services that serve the airport were also impacted while the police carried out their inquiries.
In an unrelated incident in south London on Friday morning, the US Embassy area in Nine Elms by the River Thames was the scene of a controlled explosion by Scotland Yard dealing with what they believe may have been a “hoax device”.
“We can confirm the 'loud bang' reported in the area a short time ago was a controlled explosion carried out by officers,” the Metropolitan Police said in a post on X.
“Initial indications are that the item was a hoax device. An investigation will now follow. Some cordons will remain in place for the time being but the majority of the police response will now be stood down,” it added.
