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Several casualties are feared amid reports of many injuries in a massive fire that raged through a storm water drainage network at the ONGC's oil and gas processing plant, in Uran, Maharashtra.
The macroeconomic data on GDP, core sectors and auto sales indicating the deepening economic rout in the country is partly the reason for the bearish spirits.
Former NorthEast United FC coach Eelco Schattorie, who has a decent track record in the ISL, is their new gaffer.
The 30-share Sensex tanked 907 points in the intra-day trade before settling at 38,720.57 points, showing a sharp loss of 792.82 points or 2.01 per cent.
India, the largest importer of U.S. almonds, imposed higher retaliatory tariffs on 28 U.S. products including almonds, apples and walnuts from Sunday.
Prime Minister Modi led Bharatiya Janata Party (BJP) to a thumping victory for the second term in office, winning an absolute majority and on course to touch the 300-seat mark in the 543-member Lok Sabha.
The benchmark BSE Sensex erased early gains to end 299 points lower Thursday as investors booked profits after stocks soared to record highs after BJP's strong showing in the Lok Sabha polls.
The broader NSE Nifty soared 326.80 points, or 2.86 per cent, to 11,733.95.
In a tweet on Sunday, Trump turned up the heat by saying he would raise import taxes on USD 200 billion in Chinese products to 25 per cent from 10 per cent on Friday.
According to brokers, domestic investor sentiment took a beating after the Pakistan Army on Tuesday alleged that the Indian Air Force violated the LoC in Muzafarabad sector.