The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Five longtime Republicans -- K V Kumar, Puneet Ahluwalia, Suhail Khan, Ajay Kuntamukkala and Harry Walia -- have been named to the GOP's Asian Pacific American Advisory Council.
The rupee had weakened by 23 paise to end at 63.51 against the American currency on Wednesday on month-end dollar demand from oil companies and persisting selling by foreign funds in stocks.
Kerala, Karnataka, Tamil Nadu and Telangana have announced a lockdown of educational institutions, malls and other places that attract people in large numbers, even as some of them have been reporting increase in positive cases.
Experts said equity raising was also hampered due to flight of capital from foreign investors. FIIs have sold more $500 million (Rs 3,200 crore) in October.
The domestic market is likely to continue reeling under the sharp bearish tone adopted by overseas investors, with continuing meltdown in global markets like the US and China providing further impetus, analysts believe.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
'If the epidemic is sharply contained in a month or two, we have a huge buying opportunity. 'If not, we are staring at a serious economic crisis, the contours of which we are totally unaware of,' warns Debashis Basu.
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
Policy discussions now should urgently focus on the road map for serious economic and institutional reforms to put India on a sustained high growth trajectory like the Chinese economy, says Jayanta Roy.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
'While many Chinese policy makers dismiss the political, economic and technological component of US-India relations, they express caution on the defence-related ties which also happens to be a major driver in US-India relations,' explains China expert Srikanth Kondapalli.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
No longer, Virendra Kapoor points out, are these awards given on the recommendation of ministers, or the Delhi-based liaison men who had ruled the roast till 2014.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
'If the situation escalates, then mini-scale firing might happen.'
'The prospect is of a self-confident and self-sustaining India will make it a more effective player in the global arena,' External Affairs Minister Dr Subrahmanyam Jaishankar points out delivering the Sardar Patel Lecture-2020: India and the Post-Covid World.
Premium valuations and lack of big triggers will weigh on Indian equity markets in the near term, believes Mahesh Nandurkar, India Strategist, CLSA.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
The article is in stark contrast to the TIME cover story done on Modi earlier this month titled 'India's Divider in Chief', written by Aatish Taseer, son of Indian journalist Tavleen Singh and late Pakistani politician and businessman Salmaan Taseer.
Ajinkya Jain who scored 99.99 percentile in MAHCET 2014 tells us how he cracked the exam.
'Chinese experts estimate that the new US administration is 'at the crossroads of how to re-manage and control' Sino-American differences and strategic divergences and Biden's bottom line is that the US would have 'extreme competition with China, but won't allow competition to develop into conflict',' notes Ambassador M K Bhadrakumar.
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
'India should not be taken by surprise if the Biden administration seeks China's cooperation at some point,' alerts Ambassador M K Bhadrakumar.
'The Indian side has realised that not talking to Pakistan has not served any useful purpose.'
United States Vice President Joe Biden on Monday left for a rare vice presidential trip to India for the first leg of his visit to the Asia-Pacific region.
The US attacked China for its aggressive moves against its neighbours, including "instigating" a deadly confrontation with India in eastern Ladakh
Thinning valuation gap between these and mid-caps indicates a shift in investors' preferences.
Finance firms in these SEZs likely to get tax breaks.
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
Arijit Kumar Gorai who received admission offers from nine IIMs and SP Jain Institute of Management tells us how he cracked the test.
The Rupee is expected to weaken further against the dollar.
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
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