Sensex tanks over 400 pts in early trade; Nifty drops below 14,800
Mumbai: Equity benchmark Sensex tumbled over 400 points in early trade on Monday, dragged by losses in index majors HDFC twins, ICICI Bank and Reliance Industries despite a positive trend in global markets.
The 30-share BSE index was trading 434.90 points or 0.87 per cent lower at 49,594.93, and the broader NSE Nifty dropped 109.35 points or 0.74 per cent to 14,758.
IndusInd Bank was the top laggard in the Sensex pack, shedding over 3 per cent, followed by Bajaj Finance, Axis Bank, SBI, Bajaj Auto, Bajaj Finserv, ICICI Bank, HDFC twins and Reliance Industries.
On the other hand, Infosys, HCL Tech, Tech Mahindra, TCS and Bharti Airtel were among the gainers.
In the previous session on Thursday, Sensex ended 520.68 points or 1.05 per cent higher at 50,029.83, and Nifty rose 176.65 points or 1.2 per cent to settle at 14,867.35.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 149.41 crore on Thursday, as per exchange data.
Financial markets were closed on April 2, for Good Friday'.
Domestic equities do not look to be inspiring at the moment. A sharp spike in coronavirus cases in the country and resultant restrictions are likely to dent investors' sentiments in the near term, said Binod Modi, Head - Strategy at Reliance Securities.
"Imposition of weekend lockdown in Maharashtra, which contributes over 13 per cent of the country's GDP and nearly 20 per cent of India's industrial output, does not augur well," he added.
Elsewhere in Asia, bourses in Seoul and Tokyo were trading on a positive note in mid-session deals. Markets in Shanghai, Hong Kong and Australia were closed for holidays.
Meanwhile, the global oil benchmark Brent crude was trading 0.89 per cent lower at USD 64.28 per barrel.
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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.
