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Ep-1236 | Stock Market News | #dailymoneyshow
Original: Ep-1236 | stockmarketnews | #dailymoneyshow
Takeaway
Adani SEC summons news, weak large-cap results, weak rupee and tech layoffs drove broad market correction; salaried tech workers should bolster emergency funds.
Summary
- Sensex fell 769 points to 81,537 and Nifty fell 241 to 25,148; mid-caps -1.72%, small-caps -2.05%, Bank Nifty -1.23%.
- Adani Group stocks crashed on Bloomberg report that US SEC sought permission to serve summons to Gautam and Sagar Adani in bribery case.
- EU removed export benefits on India's labour-intensive goods after India crossed 3-year quota limit; Commerce Ministry says limited impact.
- Rupee touched 92 vs USD adding crude import pressure; warns IT employees to maintain 6-month emergency fund amid Amazon's planned 14,000 layoffs and TCS layoff continuation.
- Investors should not skip personal health insurance even with employer coverage.
market newsAdanirupee
Original description
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