Crisis Averted
The US Congress narrowly averted a government shutdown with the passage of a bipartisan funding bill, but the process laid bare the persistent challenges of governance in an era of heightened partisanship and external influences.
Investors wealth indexes tumbled by a whopping Rs 3.11 lakh crore in two successive sessions of decline in the equity market US air strike in Iraq killed a top Iranian commander, sharply escalating geopolitical tensions in the Middle East and sending investors scurrying to safe-haven assets.
Equity markets have been falling for second day in a row, with the 30-share key BSE index plummeting 679.85 points to a low of 40,784.76 on Monday.
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The Sensex had ended 162.03 points, or 0.39 per cent, lower at 41,464.61 on Friday as well. Wall Street’s major indexes fell from record highs that day as well.
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Led by the weakness in equities in the last two trading sessions, the market capitalisation of BSE-listed companies plunged by Rs 3,11,234.47 crore to Rs 1,54,15,637.95 crore in late morning trade.
Iran vowed revenge after Qassem Soleimani, head of its elite Quds Force, was killed in the air strike that was authorized by President Donald Trump.
US President Donald Trump on Sunday vowed “major retaliation” if Iran tries to avenge the killing of its key military commander Qasem Soleimani.
Following the news, Brent crude futures surged nearly 3 per cent to USD 70.59.
From the 30-share pack, 29 stocks were trading with losses led by Bajaj Finance, SBI, HDFC and Maruti Suzuki India.
(With input from agencies)
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