Markets fall in early trade on weak global trends
Mumbai(PTI): Benchmark indices fell in early trade on Monday amid weak global market trends and continuous foreign fund outflow.
The 30-share BSE benchmark declined 288.8 points to 57,138.12 in early trade. The broader NSE Nifty dipped 79.4 points to 17,014.95. Among the 30-share Sensex pack, Kotak Mahindra Bank, Titan, Maruti, Asian Paints, Infosys, IndusInd Bank, Tata Steel and ITC were major laggards.
NTPC, Sun Pharma, Reliance Industries and UltraTech Cement were among the winners. Elsewhere in Asia, markets in Shanghai and Hong Kong were quoting lower, while Tokyo traded higher.
The US markets ended lower on Friday. The BSE benchmark had jumped 1,016.96 points or 1.80 per cent to settle at 57,426.92 on Friday. The Nifty climbed 276.25 points or 1.64 per cent to end at 17,094.35.
Meanwhile, the international oil benchmark Brent crude futures jumped 2.62 per cent to USD 87.37 per barrel. Foreign institutional investors offloaded shares worth Rs 1,565.31 crore on Friday, according to data available with BSE. Foreign investors turned sellers in September, pulling out Rs 7,600 crore from Indian equity markets.
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Will Champai Soren become a game-changer for BJP in Jharkhand polls?
Ranchi: Champai Soren, a prominent figure in Jharkhand’s statehood movement, is contesting the 2024 assembly elections from Seraikela, a seat he has consistently held since 1991.
However, there is a surprising shift in his political journey this year. Having resigned from the Jharkhand Mukti Morcha (JMM) earlier this year, Soren is now representing the BJP, a move that could significantly impact the electoral dynamics in the state.
Soren’s switiching is seen as a strategic benefit for the saffron party, which has been working to expand its appeal among Jharkhand’s tribal communities, a demographic traditionally aligned with the JMM. His departure from the JMM, led by Shibu Soren and his son Hemant Soren, was fueled by dissatisfaction with the state government’s policies, which he claimed had failed to address tribal concerns.
Also known as "Jharkhand’s Tiger" for his instrumental role in the statehood movement of the 1990s, Champai Soren has respect and influence among tribal voters. His decision to switch the party could be a turning point in the BJP’s efforts to gain a stronger hold in a state where tribal votes often decide the outcome.
