Top Stories on October 22: Sensex, Nifty 50 crash, Q2 Results, bomb threats to flights, Modi-Putin meet, and more
Source: Mint | Original Published At: 2024-10-22 13:48:31 UTC
Key Points
- Sensex and Nifty 50 experienced significant declines due to foreign fund outflows
- Bajaj Finance, Zomato, and Mahindra & Mahindra Finance reported Q2 financial results
- PM Modi met Putin in Kazan during BRICS Summit engagement
- Bomb threats affected flights in Nepal following similar incidents in India
In today’s top news, we have: Sensex plunged 930 points to two-month low, Nifty closed below 24,500 on FII exodus; Bajaj Finance, Zomato and Mahindra & Mahindra Finance announced their Q2 quarter results; Prime Minister Narendra Modi reaches Russia for BRICS Summit. Here’s a list of Top Stories you must know:
Sensex, Nifty 50 crash Benchmark Sensex plunged by 930.55 points, while broader Nifty dropped below the 24,500 level to settle at more than two-month lows on Tuesday due to an intense sell-off across sectors and massive foreign fund exodus from the capital markets. The Sensex closed the day with a loss of 931 points, or 1.15 per cent, at 80,220.72, while the Nifty 50 settled at 24,472.10, down 309 points or 1.25 per cent.
The mid and smallcap segments of the market suffered even deeper losses. The BSE Midcap index ended with a loss of 2.52 per cent, while the Smallcap index crashed 3.81 per cent.
Bajaj Finance Q2 Results Bajaj Finance announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Tuesday, October 22, reporting a surge of 80 per cent in standalone net profit to ₹5,614 crore, compared to ₹3,105.75 crore in the corresponding period last year.
Zomato Q2 Results Online food delivery giant Zomato Ltd on Tuesday reported 389% year-on-year rise in its consolidated net profit for the fiscal’s second quarter ended September (Q2FY25) to ₹176 crore. The company had reported a profit of ₹36 crore in the year-ago period. Sequentially, the net profit was down 30.43% from ₹253 crore in Q1FY25.
Mahindra & Mahindra Finance Q2 results Mahindra & Mahindra Financial Services (M&M Finance) has announced its Q2 results, reporting a 57% increase in net profit to ₹369.5 crore. Despite the growth, the figure came in below the market estimates. The company reported a net profit of ₹235.2 crore in the same quarter of the previous year, with total revenue reaching ₹3,897 crore in Q2 of FY25.
PM Modi in Russia Prime Minister Narendra Modi met Russian President Vladimir Putin in Russia’s Kazan on Tuesday. PM Modi told Putin, “He said, ‘I have been in constant touch with you on the subject of the ongoing conflict between Russia and Ukraine. As I have said earlier, we believe that the problems should be resolved in a peaceful manner. We fully support the early establishment of peace and stability. All our efforts give priority to humanity. India is ready to provide all possible cooperation in the times to come.'”
Bomb threats to airlines in Nepal now After a series of bomb threats in India, IndiGo, Akasa and Vistara flights in Nepal received fresh bomb threats on Tuesday. Confirming the threat to the Vistara flight, Chief District Officer Jay Narayan Acharya said, “Nepal Army bomb disposal team has been sent to the airport for complete inspection.”