Read more about Nifty ends below 14,700; metal stocks outperform on Business Standard. Domestic shares plunged on Monday with the Nifty falling below the 14,700 mark. Rising COVID-19 cases and negative global cues triggering spoiled sentiment. The selling was broad based, however, metal shares bucked trend on firm copper prices.
Domestic shares plunged on Monday with the Nifty falling below the 14,700 mark. Rising COVID-19 cases and negative global cues spoiled sentiment. Barring the Nifty Metal index, all the sectoral indices on the NSE ended in the red. Metal shares were in demand on firm copper prices.
The barometer index, the S&P BSE Sensex, slumped 1,145.44 points or 2.25% to 49,744.32. The Nifty 50 index lost 306.05 points or 2.04% to 14,675.70.
TCS (down 3.69%), Reliance Industries (down 3.52%), HDFC (down 3.04%) and Infosys (down 2.06%) were major drags.
In the derivatives market, the NSE s Volatility Index (VIX), a gauge of market s expectation of volatility over the near term, surged 14.47% to 25.47.
Sheela Foam announced that the Company has received on 18 February 2021, a closure order the company s Jalpaiguri plant (West Bengal) from the West Bengal Pollution Control Board.
The Company holds a valid Consent to Operate and is established in an Integrated Industrial Township for more than 5 years.
The Company is reaching out to the Competent Authority and also seeking legal advice. For the present we are suspending operations in the above-mentioned
unit.
The turnover of this unit is 6% of the total turnover of the Indian Operations and the company is making
arrangements to service the impacted distribution from its other facilities.
Hasan Mahmud, a senior minister in the Sheikh Hasina cabinet in Bangladesh, has observed that there should be a regional river management policy involving countries in South Asia.
Asked about the longstanding Teesta water dispute, Mahmud shifted the onus of “answering” onto the Indian government.
Mahmud, the information minister who had earlier held the environment portfolio, told
The Telegraph during his recent Calcutta visit that unlike the Mekong River Commission in South East Asia, “unfortunately there is no joint river management system in our region although all major rivers have originated in the Himalayas”.
“If there is a regional river management system, it will benefit all countries in the region,” Mahmud said.