ET Market Watch: Sensex Falls 636 pts
Transcript
Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
The stock markets took a hit today! Sensex fell 636 points, Nifty dropped 174. Here's why investors are on edge — in 60 seconds:
1. Trump's Trade Move
The US plans to double tariffs on steel & aluminium to 50%. That's bad news for Indian exporters like Tata Steel & Hindalco.
2. Global Slowdown Signs
Manufacturing is shrinking in the U.S. and China. That's a clear red flag for global demand.
3. RBI Policy Ahead
Markets are nervous before Friday's RBI meeting. A rate cut is likely, but what the RBI says will matter more.
4. US Debt Worries
The U.S. is discussing a new $3.8 trillion spending plan. Yields are rising, and that's pulling equities down.
5. Oil Price Volatility
Crude is rising again, thanks to OPEC+ supply cuts. For India, higher oil means inflation risks.
6. Unclear Fed Signals
A Fed rate cut might come later this year—but there's no clear timeline. Markets don't like guessing games.
Takeaway?
₹2.5 lakh crore wiped off BSE market cap in a day. Eyes now on RBI — will it stabilize the mood?
Follow for more clear, crisp market updates!
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
13 minutes ago
- Time of India
Who is Bill Ackman, the man who could broker peace between Elon Musk and Donald Trump?
Bill Ackman made a public post on X asking Donald Trump and Elon Musk to stop fighting. He said they should 'make peace for the benefit of our great country.' Though Ackman used to support Democrats, he is now backing Donald Trump for 2024. He posted this because the fight between Trump and Musk was getting out of control, especially after comments about cutting funds to Musk's companies. Elon Musk replied directly to Ackman's post on X, saying, 'You're not wrong.' This reply showed Musk agrees with Ackman's opinion. The 'X' fight between Musk and Trump The fight got worse after Trump made a comment about 'one Big Beautiful Bill.' Trump earlier threatened to cancel government contracts for Musk's companies, Tesla and SpaceX. Musk hit back, saying SpaceX would end the Dragon spacecraft and asked for Trump to be removed. Trump also said cutting off funds to Musk would save money, and asked why Biden wasn't doing it already. Trump hit back online, saying cutting Musk's government money would save the country money, and questioned why Biden wasn't doing it already. Musk then took it further by mentioning Trump's name in the Jeffrey Epstein files, suggesting Trump might be hiding something. Live Events Who is Bill Ackman? William Albert Ackman, born May 11, 1966. He's a billionaire hedge fund manager and CEO of Pershing Square Capital Management. As of May 2025, his net worth is $9.1 billion, as per Forbes. He's known as an activist investor, he buys company shares to push for changes. Raised in Chappaqua, New York. His dad was chairman of a real estate finance firm. Graduated from Harvard College in 1988, and got an MBA from Harvard Business School in 1992. Started a firm called Gotham Partners in 1992 with David Berkowitz. In 2002, Ackman investigated MBIA, a financial services company, and made a big profit during the 2008 financial crisis by betting against it. In 2014, Pershing Square had $4.5 billion in net gains, putting him among top 20 hedge fund managers. Was a board chairman at Howard Hughes Holdings from 2010 to 2024. He stepped down in 2024. FAQs Q1. Why did Bill Ackman post on X about Elon Musk and Donald Trump? He posted asking them to stop fighting and 'make peace for the benefit of our great country.' Q2. Who is Bill Ackman? He's a billionaire investor who tries to fix companies by buying their shares.
Hans India
19 minutes ago
- Hans India
PhysicsWallah's acquisition of Drishti IAS called off: Report
New Delhi: The much-talked-about acquisition of UPSC coaching institute Drishti IAS by edtech unicorn PhysicsWallah has reportedly been called off. The deal was in advanced stages but ultimately fell through due to multiple reasons, according to a report by Entrackr. In April this year, multiple reports said that PhysicsWallah was actively exploring acquisitions to strengthen its position in the civil services preparation segment. The proposed acquisition of Drishti IAS was estimated to be worth between Rs 2,500 and Rs 3,000 crore. Drishti IAS, a well-known name in UPSC coaching, especially among Hindi-medium aspirants, was one of the leading players being considered by PhysicsWallah, along with other institutes like Chaitanya Academy, Rau's IAS Study Circle, and Sarrthi IAS. According to the report, Drishti IAS evaluated the proposal after being approached by PhysicsWallah. However, considering its strong financial performance and independent growth, the company decided not to go ahead with the deal. The report added that Drishti IAS is currently not looking to raise external funds or be acquired. Founded in 1999, Drishti IAS has built a strong presence in the civil services coaching space. In the financial year 2023–24, the Delhi-based institute reported revenue of Rs 405 crore and a profit after tax of Rs 90 crore. The report indicate that the institute is also expected to post healthy growth in FY25. PhysicsWallah, originally focussed on online coaching for engineering and medical entrance exams, has recently been expanding into UPSC and other competitive exams. The acquisition of Drishti IAS was seen as a strategic step to strengthen its offline footprint and diversify its educational offerings -- particularly ahead of its planned stock market debut. However, as of now, both PhysicsWallah and Drishti IAS have not officially responded to the matter. Meanwhile, reports indicate that PhysicsWallah filed its draft IPO papers confidentially in March 2025, aiming to raise around Rs 4,600 crore. If successful, it will become the first Indian edtech unicorn to be listed on the stock exchange.
Mint
21 minutes ago
- Mint
RBI governor Malhotra says IndusInd Bank doing well, shares jump 5%
Mumbai: The Reserve Bank of India (RBI) on Friday said IndusInd Bank has taken sufficient steps to address improve its accounting practices, with governor Sanjay Malhotra noting that the bank is doing well overall. The remarks signalled regulatory comfort with the lender's actions so far, pushing its shares up over 5%. The RBI's comments come nearly three months after IndusInd Bank disclosed issues in its derivatives book, which triggered a 27% crash in its shares. Since then, the bank has seen the exit of top executives and faced scrutiny from both the central bank and the capital markets regulator Securities and Exchange Board of India (Sebi). 'The MD & CEO has resigned and it says for taking moral responsibility. So, I thought that should be good enough,' Malhotra said at the post-policy conference. Reacting to the statement, IndusInd Bank's share hit an intraday high of ₹ 845.9 apiece on the BSE, up 5.3%, according to Bloomberg data. The stock remains 8.6% below its close of 10 March, the day the lender acknowledged the derivatives discrepancies. The broader BSE Bankex index has risen 15% over the same period. When asked about broader board accountability, Malhotra said, 'Do you expect all the board members…what are you hinting at? The MD & CEO, who is also a member of the board—if he has taken responsibility, that is at the board level itself.' IndusInd Bank is in the middle of a management transition, following the exit of deputy chief executive Arun Khurana—two days after a report by Grant Thornton on the derivatives lapses—and the resignation of chief executive Sumant Kathpalia before a successor was found. On 21 May, IndusInd Bank chairman Sunil Mehta said the board was not informed of the discrepancies and that it acted swiftly once they came to light. However, a Sebi probe found the bank had engaged KPMG to review the issues as early as 29 January 2024, well before it disclosed the matter to stock exchanges on 10 March 2025, Mint reported on 31 May. 'Normally we do not comment on individual banks," Malhotra said. "The banking system is very robust and I also mentioned these episodes will happen and should not bother us too much as long as they are far and few between and limited.' Deputy governor Swaminathan J said the bank had complied with all the requirements set by the RBI. The first was to ensure proper accounting of all discrepancies, backed by internal and external audits, and reflected in the March quarter results. The second was to conduct a forensic audit and hold those responsible to account. The third priority, Swaminathan said, was to ensure that no customer suffered losses or inconvenience. Each of these crises offers RBI some lessons and it sharpens the supervisory tools, he said. 'Going forward, we will look at these kinds of red flags so that we are in a position to anticipate them much in advance. If not immediately but very soon it should settle down and then be back to normal.' Last week, Sebi barred former MD & CEO Sumant Kathpalia and four other senior executives from the market and impounded gains of ₹ 19.78 crore, alleging they sold shares while in possession of unpublished price-sensitive information.
