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Sensex, Nifty plunge amid global turmoil

The pervasive risk aversion in international markets kept the dollar in high demand, adding further pressure on the rupee.

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The Indian equity markets nose-dived dramatically today, mirroring the upheaval in global markets. In the opening session, the Nifty and Sensex indices plunged sharply, sending shockwaves through the financial community.

The Sensex lost 2,600 points to end at 78,385.49, while the Nifty lost 463.50 points to close at 24,254.20. Critical indices, the Nifty 50 and S&P BSE Sensex were brought to an abrupt end from their record 14-year winning streak, amid a massive fall in information technology stocks. Investors scurried for cover as a global selloff was seen after below-expected economic data was released from the US.

At the same time, the rupee opened on a tepid note and fell to an all-time low of 83.80 against the US dollar. The pervasive risk aversion in international markets kept the dollar in high demand, adding further pressure on the rupee.

Friday’s after-market economic data revealed that the growth of jobs in the US had slowed more than expected in July. Slowing employment growth raises fear of an impending slowdown in the economy and further deteriorates already fragile sentiment.

Not forgetting the US presidential elections, to be held in November, is likely to keep investors away. The political uncertainty of the election added to the volatility of current market conditions.

Notably, global investors are also watching developments in the Middle East, where tension is escalating following reports that an Israeli assassination team killed one of Hamas’ top leaders, Ismail Haniyeh, in Tehran. This has added to the geopolitical uncertainties and piled on the market’s woes.

Among the losers at the BSE were Tata Motors, Tata Steel, JSW Steel, Adani Ports, Maruti, and Reliance Industries. These companies bore the brunt of the market selloff, reflecting the wide breadth of investor anxiety.

Sun Pharma and Hindustan Unilever, however, traded in green and offered a ray of hope to the market when most other stocks were getting mauled.

 Investors are still sizing up the aftermath of this turmoil on their portfolios and are hence very cautious. Uncertainty, which characterizes the present climate, has induced a state of high alert in investors, who are watching the situation with bated breath for any new developments that may further influence investment decisions.

The mix of weak economic indicators, political uncertainties, and spiraling tensions in geopolitics created a perfect storm for the markets to make investors cautious and alert. Given these choppy waters, whose focus remains on preserving capital and mitigating risks, many take a wait-and-see approach until clearer signals emerge.

India News

Ajit Pawar dies in plane crash near Baramati airport

Maharashtra deputy CM Ajit Pawar dies in plane crash near Baramati; four others also killed.

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Ajit Pawar

Maharashtra deputy chief minister and NCP leader Ajit Pawar died in a tragic plane crash near Baramati on Tuesday morning. Reports indicate that four others, possibly including the aircraft crew and Pawar’s security personnel, were also killed in the accident.

The small aircraft took off from Mumbai around 8 am and crashed near Baramati airport while attempting to land approximately an hour later. Pawar was scheduled to attend four significant public meetings as part of his campaign ahead of the local body polls.

Visuals from the scene showed smoke and fire, with the wreckage of the plane scattered near the runway. Emergency services rushed the injured to nearby hospitals, although initial reports confirm multiple fatalities. Details regarding the cause of the crash are still awaited.

The incident has sent shockwaves across the state, as Ajit Pawar was a prominent political figure and key campaigner for the upcoming elections.

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India News

BJP president Nitin Nabin holds strategy meet in West Bengal ahead of assembly polls

BJP chief Nitin Nabin held a strategy meeting with West Bengal leaders in Durgapur as the party intensified preparations for the 2026 assembly elections.

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Nitin Nabin AND PM Modi

Party leadership discusses political situation, organisational strengthening and outreach plans as preparations for the 2026 assembly elections gather pace

Bharatiya Janata Party national president Nitin Nabin on Tuesday held a high-level strategy meeting with senior leaders of the West Bengal unit in Durgapur, signalling the party’s intensified push ahead of the state assembly elections.

The meeting focused on reviewing the current political situation in West Bengal, strengthening the party organisation and chalking out future strategies to expand the BJP’s presence across the state.

Senior leaders present at the discussions included Leader of the Opposition Suvendu Adhikari, former state president Dilip Ghosh, Dr Sukanta Majumdar and Rahul Sinha.

Following the meeting, Dr Sukanta Majumdar and Rahul Sinha told media persons that the BJP would step up public outreach programmes and reinforce its grassroots organisational structure in the coming weeks. They expressed confidence that the party is moving steadily towards forming the government in West Bengal this year.

Nabin’s visit marks his first trip to the state since assuming charge as the BJP’s national president. His two-day tour includes a review of election preparations, organisational meetings and participation in public programmes aimed at energising party workers.

On Wednesday, Nabin is scheduled to offer prayers at the Bhiringi Kali Mandir in the morning before addressing the BJP Karyakarta Sammelan of the Bardhaman division at the Chitralaya Mela Maidan in Durgapur. He will later address the Asansol district BJP Karyakarta Sammelan in Raniganj.

As part of its election preparations for the 2026 assembly polls, the BJP has also finalised a list of Prabasi leaders from several states to strengthen its campaign across different regions of West Bengal, including Nabadwip, Kolkata and the Howrah–Hooghly–Midnapore belt.

The list comprises senior leaders, legislators, former ministers, organisational office-bearers and youth leaders deputed from states such as Chhattisgarh, Odisha, Jharkhand, Delhi, Uttar Pradesh, Rajasthan, Himachal Pradesh, Bihar and Tripura. These leaders will work in coordination with the West Bengal unit to oversee organisational activities, election readiness and grassroots mobilisation in their assigned districts.

Meanwhile, Union Home Minister and senior BJP leader Amit Shah is scheduled to visit West Bengal on January 30 and 31. During his two-day tour, Shah is expected to hold key organisational and political meetings to review preparations and boost party morale ahead of the upcoming electoral challenges.

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Maharashtra Deputy CM Ajit Pawar’s chartered plane crash-lands in Baramati

Several people were injured after a plane used by Maharashtra Deputy Chief Minister Ajit Pawar crash-landed during an emergency landing attempt at Baramati airport. Officials are yet to confirm if Pawar was on board.

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Ajit Pawar plane crash

A plane reportedly used by Nationalist Congress Party (NCP) chief and Maharashtra Deputy Chief Minister Ajit Pawar crash-landed during an emergency landing attempt at Baramati airport on Tuesday, leaving multiple people injured.

According to initial reports, the aircraft encountered trouble while attempting to land, following which it crashed on the airport premises. Visuals from the site showed mangled remains of the aircraft, with fire seen at the crash location and emergency services rushing to the spot.

Ambulances were seen transporting the injured to nearby hospitals for treatment. The exact number of people hurt and the extent of their injuries are yet to be officially confirmed.

It is not clear whether Ajit Pawar was on board the aircraft at the time of the incident. Reports indicate that the deputy chief minister was scheduled to travel to Baramati later in the day to attend four public meetings.

Authorities have not yet disclosed what prompted the emergency landing attempt. More details are awaited as officials assess the situation and begin preliminary inquiries.

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