The benchmark indices Nifty and Sensex fell 1 percent each, with the Bank Nifty falling 1.30 percent in afternoon trades. The Nifty fell below its 20-DMA taking its worst hit since October 16.
The Delhi High Court has stayed a Company Law Board (CLB) order to transfer the litigation between McDonald's and Vikram Bakshi, estranged North and East India partner of US fast-food giant, to the Chennai bench of CLB.
CBI, which had not charged Bharti Cellular Ltd CMD Sunil Bharti Mittal and Essar Group promoter Ravi Ruia, today defended in the Supreme Court the decision of a Special CBI judge to summon them in a corruption case related to allocation of additional spectrum during NDA rule in 2002.
Apple Inc will defend against allegations that it abused a monopoly position in the digital music player market as it heads to trial in a case that could cost the company about $1 billion if it loses.
Hope of stimulus plans by China and Europe helped the Nifty and Sensex close at new life-time highs on Monday yet again with the Nifty closing above 8,500 mark for the first time while the Sensex just closed 0.46 points shy of the 28,500 mark.
The declining savings rate in India may have forced the government to re-launch the popular Kisan Vikas Patra (KVP).