Business Today: Nifty Plunges Below 23400, Maruti Hits Record Sales, & Aviation Fuel Prices Slashed
The Indian stock markets witnessed a sharp decline, with the Nifty closing below the 23,400 mark and the Sensex dropping 1,200 points from its intraday
The Indian stock markets witnessed a sharp decline, with the Nifty closing below the 23,400 mark and the Sensex dropping 1,200 points from its intraday high. The sell-off was primarily driven by losses in the FMCG and PSU bank sectors, while IT and metal stocks offered some resistance. In corporate developments, Dabur shares fell following USFDA observations at its Silvassa manufacturing plant.
Meanwhile, Maruti Suzuki reported its highest-ever monthly sales volume of 2.42 lakh units in May, driven by record CNG car sales, though its stock declined amid monsoon concerns. The aviation sector saw relief as oil marketing companies slashed aviation turbine fuel prices for international airlines by 400 dollars per kilolitre for June, while domestic rates remained unchanged. Additionally, the Commerce Ministry announced ambitious export targets of one trillion dollars by the financial year 2027.
Asian Paints reported a 69 percent jump in net profit, and Nvidia unveiled a new processor for artificial intelligence personal computers. Subscribe to India Today for NEW VIDEOS EVERY DAY and make sure to enable Push Notifications so you'll never miss a new video. All you need to do is PRESS THE BELL ICON next to the Subscribe button! India Today TV is India's leading English News Channel.
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