Pioneer In Short
Sensex sinks, Nifty below 22,800
Indian equities suffered their sharpest fall in months on Monday as surging crude prices, renewed geopolitical uncertainty and weak global cues triggered selling. The Sensex plunged 1,124.02 points, or 1.52 per cent, to 72,771.72, its lowest close since March 30, while the Nifty fell 360.25 points, or 1.56 per cent, to 22,780.25. The Sensex had dropped as much as 1,179 points during the session. Twenty-nine of its 30 constituents closed lower, with Larsen & Toubro, Power Grid, Adani Ports, HDFC Bank and Reliance Industries among the major losers. Infosys was the sole gainer. The broader market also weakened, with the BSE SmallCap Select and MidCap Select declining.
Brent crude surged 3.81 per cent to $108.30 a barrel amid uncertainty over the reopening of the Strait of Hormuz following the US-Iran stalemate. Analysts said rising US bond yields and continued foreign fund outflows added to pressure on Indian equities. Foreign Institutional Investors had sold shares worth Rs 3,693.93 crore on Friday. All BSE sectoral indices ended lower, led by PSU banks, which fell 3.25%. The broader market also weakened, with the BSE SmallCap Select and MidCap Select indices declining 1.90 per cent and 1.39 per cent, respectively. Asian markets largely closed lower, while European markets were mixed.
Fresh POCSO case against Veeramani
The Special Investigation Team probing the alleged sexual abuse of minor girls by granite industrialist R Veeramani registered another case under the POCSO Act on Monday following a complaint by the mother of a minor girl, police said. The woman appeared before the all-women SIT on September 28 and submitted her complaint, following which investigators registered a fresh case and began probing the allegations. The SIT was formed on the direction of Tamil Nadu Director General of Police Mahesh Kumar Aggarwal to conduct a comprehensive investigation into the case against Veeramani and others. Meanwhile, the NCPCR has taken suo motu cognisance of allegations involving girls aged 12-16 and said its fact-finding team would visit Chennai.
Police have appealed to anyone with information, documents or evidence to contact investigators, assuring confidentiality for informants. Veeramani has been in judicial custody since August 29. A POCSO court on Friday extended his custody until October 9. Three others have also been arrested in the case, which has triggered widespread demands for stringent action. Two senior IPS officers were earlier removed from their posts and placed on compulsory wait amid allegations of police inaction over an earlier complaint.
