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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CM Sai says Chhattisgarh now 'free' of Naxalism, hails March 31 as historic day for state
Raipur (PTI): Chief Minister Vishnu Deo Sai on Tuesday asserted Chhattisgarh was now "free" of Naxalism and described March 31, the deadline set by the Centre to eradicate Maoism, as a "historic" day for the state, which was once a hotbed of the violent movement.
Targeting the Opposition Congress, Sai alleged that during the 'Bharat Jodo Yatra', party leader Rahul Gandhi had shared the stage with Naxalites at several locations.
Speaking on sidelines of a programme in Raipur, the CM thanked Prime Minister Narendra Modi and Union Home Minister Amit Shah for providing decisive leadership in the fight against Left-wing extremism (LWE) and said the insurgency had long been a major obstacle to development.
"Today marks a truly historic day for Chhattisgarh as Naxalism is being eliminated from the state. On behalf of the 30 million people of Chhattisgarh, we extend our deepest gratitude to Prime Minister Modi ji and Home Minister Amit Shah ji," he said.
In 2024, the Centre set a deadline of March 31, 2026, to completely eliminate Naxal violence from the country.
The vast Bastar region, once an epicentre of Naxal violence, remained largely untouched by development for 40 years, but it can now progress rapidly, Sai maintained.
Asked about Shah's statement in the Lok Sabha on Monday that when Rahul Gandhi undertook his march, many Leftists joined it, Sai said, "during the 'Desh Jodo Yatra' undertaken by the Congress MP, he met Naxalites at numerous locations.
At several places, Naxalites even shared the stage with him (Gandhi), the BJP leader alleged.
"When notorious Naxal leader Madvi Hidma, responsible for killing hundreds of people, including our security personnel, was neutralised (in late 2025), people chanted slogans that 'many more Hidmas will emerge'. Gandhi even posted them (slogans) on social media, which shows his intent," the CM stated.
When pointed out that former CM Bhupesh Baghel used to claim that evidence regarding the deadly Jhiram Ghati attack by Maoists was in his "pocket", Sai said, "When the Congress was in power, it failed to act despite claiming to have enough proof."
Even after being in power for five years (2018-23), they could neither investigate the Jhiram Ghati case nor produce the so-called proof, the CM opined.
The Maoist attack on May 25, 2013, targeted a Congress convoy during the party's 'Parivartan Rally' ahead of assembly elections, killing 32 people, including then Chhattisgarh Congress chief Nand Kumar Patel, former Leader of Opposition Mahendra Karma, and ex-Union minister V C Shukla.
In a series of posts on 'X', Sai spoke about the end of Naxalism in the BJP-ruled state.
"A Fear-Free Bastar, A Naxal-Free Chhattisgarh. Where once the echoes of gunfire resounded, today flows a new current of development, trust, and good governance. Emerging from the shadow of fear, Bastar is now marching forward with unwavering resolve on the path of self-confidence and progress," he noted.
He credited effective policies of the BJP-led governments in Chhattisgarh and at the Centre for the turnaround in Bastar, which was once associated with Naxal violence.
"This transformation is the fruit of our 'Double Engine' governments' steadfast resolve, effective policies, and unwavering trust of people. A place where peace has triumphed over fear and security has inspired confidence. Prosperity is steering Bastar's bright future toward new heights," Sai noted.
A new chapter of peace, development, and trust has started in Chhattisgarh, especially in Bastar, the CM declared.
"Today, every village shines with light, every path leads to development, and every face bears not fear, but a smile. The sunrise of March 31, 2026, stands witness to Bastar's transformation - from a region once defined by fear to one embracing a hopeful and bright future. A New Bastar, A New Chhattisgarh, a new chapter of peace, development, and trust," he asserted.
