Elon Musk Promises Arrival of Tesla in India; IDFC First Bank(-5.60%)Shares Slide as CLSA Downgrade;

India-US Partnership Set to Unveil Major Defence Deals, Including Joint Production of F414 Engines.

Market Summary

Closing Bell: Nifty below 18800, BANKNIFTY below 43800, Sensex tumbles 280 pts, PSU Bank, Reality and Oil&Gas tanks.📉

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Market News

CLSA Downgrade Triggers Fall in IDFC First Bank(-5.60%) Shares After 167% Rally in 1 Year.📉

GE Aerospace Confirms Partnership with HAL(-1.57%) for F414 Engine Production in India.📉

Positive News for Venus Remedies(+4.99%) as Drug Approval in Spain Sends Stock hits 5% upper circuit.🚀

Bank of England Implements 50 bps Interest Rate Hike to 5%, Exceeding Previous Rate of 4.5%.📊

Punit Goenka Indicates Sony-Zee(-0.47%) Merger Will Move Forward despite of SEBI allegations.🧾🤝🏻

HMA Agro Industries IPO Subscribed 91% on Day 3, Strong Investor Response.📊🧾

Veefin Solutions IPO Receives 26% Subscription on First Day, Demand Surpasses Supply.🧾