The business wrap: Markets crash after reports of Army strikes along LoC, and six other top stories
Oil prices surged after Opec decided to cut production, and WhatsApp said it will share user data with Facebook, defying a Delhi High Court order.
A look at the headlines in the sector right now:
- Sensex plunges 465 points, Nifty ends below 8,500 after Army confirms operation along LoC: The slump followed high trading in both indices in the morning, amid reports of the Opec deal to cut oil production.
- Oil prices surge as Opec decides to cut production, Wall Street, Asian markets cheer: The overall energy index on in the US jumped up by 4.34%, the highest since January.
- WhatsApp defies Delhi High Court order on user data, will share information with Facebook as planned: The court had ordered the messaging platform to remove the data of those people who deleted their accounts before September 25.
- ICICI Prudential Life Insurance makes sluggish market debut: With an issue price of Rs 334, its shares fluctuated on the Bombay Stock Exchange, hitting a low of Rs 315.65 at one point.
- $5.5-million kickback paid to agent in Embraer deal, finds preliminary CBI inquiry: Officials said the 'breakthrough' will help to convert the initial investigation to a regular case after an FIR is registered.
- India's GDP will grow by more than 7% in 2016 and China's by 6%, says IMF chief Christine Lagarde: The Fund's managing director warned against trade restrictions and protectionist policies, saying recovery from the 2009 financial crisis was 'still fragile'.
- Reliance Jio says cellular body's 'back door operator' remark is defamatory: The COAI, however, said the company's claim that the association's functions were biased towards dominant service providers was aimed at disgracing it.