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Markets slump for 3rd day on surging oil prices, massive selling in IT stocks; Sensex drops 1k pts

Mumbai, Apr 24 (PTI) Equity benchmark indices Sensex and Nifty tumbled over 1 per cent on Friday, falling for the third consecutive day, as a sharp rally in crude prices and massive selling in IT counters weighed heavily on investors’ sentiment. Unabated foreign fund outflows, a negative trend in global markets amid prolonged conflict and continued disruption in the Strait of Hormuz added to the gloom. The 30-share BSE Sensex dropped 999.79 points, or 1.29 per cent, to settle at 76,664.21. During the day, it plunged 1,260.13 points or 1.62 per cent to 76,403.87. The wider gauge NSE Nifty slumped

Seven AAP Rajya Sabha MPs including Raghav Chadha, Ashok Mittal quit party; to join BJP

New Delhi, Apr 24 (PTI) In a massive jolt to the Aam Aadmi Party on Friday, seven of its Rajya Sabha MPs, including Raghav Chadha, Sandeep Pathak and Ashok Mittal, quit the party. Addressing a press conference, Chadha, flanked by Pathak and Mittal, said that two-thirds of the Aam Aadmi Party’s Rajya Sabha MPs have quit the party and will join the BJP as a faction. Chadha said that party MPs Harbhajan Singh and Swati Maliwal are also quitting the AAP. “AAP, that I nurtured with my blood and sweat and to which I gave 15 years of my youth,

Gold futures drops to Rs 1.51 lakh/10g as strong dollar, oil surge weigh on bullion

New Delhi, Apr 24 (PTI) Gold prices fell ₹462 to ₹1.51 lakh per 10 grams in futures trade on Friday, tracking weak global trends amid a stronger US dollar and rising crude oil rates. On the Multi Commodity Exchange, the yellow metal for June delivery declined ₹462, or 0.3 per cent, to ₹1,51,299 per 10 grams in a business turnover of 8,310 lots. Analysts said pressure on precious metals came from a firm dollar and elevated energy prices, as well as heightened inflation concerns. Gold prices declined on Friday. The pressure on the precious metals can be attributed to a

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