The Bombay Stock Exchange’s Sensex opened 335 points lower at 48,881 in the morning. Around 9.30 am, the Sensex fell 630 points to 48,586. Shares of Future Retail broke down to Rs 55.85 today and had to install a 10 per cent lower circuit.
The Bombay Stock Exchange’s Sensex opened 335 points lower at 48,881 in the morning. Similarly, the National Stock Exchange’s Nifty fell 86 points to open at 14,471. About 352 stocks rose and 1050 declined on the NSE. Today the Indian stock market broke down due to the rise of the Corona crisis and the decline in the American markets yesterday.
The Delhi High Court has upheld the order of Singapore Emergency Arbitrators (EA), preventing Future Retail Limited (FRL) from going ahead in the deal to sell its business to Reliance Group for Rs 24713 crore. The deal was opposed by American e-commerce company Amazon. In the same way, there are many more.
Very strict attitude of the High Court
Justice JR Midha has stopped the Kishore Biyani-led FIR from taking any steps in the deal at present. He said that the FRL knowingly violated the order of the EA. Not only this, the court has also directed to deposit 20 lakh rupees in PM Relief Fund for corona vaccination of senior citizens of BPL category. The court has also directed Biyani to appear on April 28 and attach the property.
Fall in crude oil
The softening of crude has given relief in the midst of the fall in the stock markets. In the US, due to increase in reserves and the strength of the dollar, crude oil is falling for the fifth consecutive day.