Key Highlights:

– Sensex falls 689.81 points and Nifty slips 205.4 points

– TCS reports weak Q1 FY25 earnings, dragging IT sector

– US-Canada tariff tensions dent global and domestic sentiment

Mumbai: On Friday, Indian stock markets closed in the red, pulled down by rising global trade tensions and a poor start to the earnings season. The Sensex fell by 689.81 points (0.83 percent) to finish at 82,500.47, while the Nifty dropped 205.4 points (0.81 percent) to end at 25,149.85.

TCS Results Shake Investor Confidence

The biggest trigger for the fall was Tata Consultancy Services (TCS) posting weaker-than-expected results for Q1 FY25. This caused a sharp selloff in IT stocks, with the Nifty IT index falling nearly 1.8 percent. Other IT firms like HCL Technologies also dropped.

Auto and Other Sectors Also Under Pressure

Auto stocks joined the decline, with the Nifty Auto index falling by nearly 1.8 percent too. Among the biggest losers on the Sensex were TCS, Mahindra & Mahindra, Tata Motors, Bharti Airtel, and Titan, losing up to 3.5 percent.

On the other hand, some stocks such as Hindustan Unilever, Axis Bank, Sun Pharma, and NTPC ended higher and provided limited support to the market.

Global Trade Issues Weigh Heavy

Investor mood worsened after US President Donald Trump imposed fresh 35 percent tariffs on Canadian imports, increasing concerns about global trade tensions. This added to already cautious market sentiment.

Mid and Small Caps Also Feel the Heat

The broader markets also saw declines. The Nifty MidCap index dropped 0.88 percent, and the Nifty SmallCap index slipped 1.02 percent, showing weakness across the board.

Some Sectors Show Strength

Despite overall weakness, FMCG and Pharma sectors managed small gains. The Nifty FMCG and Pharma indices ended in the green.

Volatility Increases Slightly

The India VIX, which measures market fear, rose 1.24 percent to close at 11.81, indicating slightly higher uncertainty among investors.

Hyderabad, July 10: The Enforcement Directorate has booked 29 celebrities in Telugu states for endorsing betting apps.

The central agency has filed an ECIR against 29 actors, influencers, and YouTubers for allegedly promoting illegal betting platforms, in violation of the Public Gambling Act, 1867.

The probe, under the Prevention of Money Laundering Act, has been taken up based on five FIRs filed in Telangana and Andhra Pradesh.

Film actors Vijay Deverakonda, Rana Daggubati, Prakash Raj, Nidhi Agarwal, Pranitha Subhash and Manchu Lakshmi, and Ananya Nagella are among those who have been booked by the ED.

The names of TV actors, TV hosts and social media influencers like Sreemukhi, Shyamala, and Varshini Sounderajan, Vasanthi Krishnan, Shoba Shetty, Amrutha Chowdary, Nayani Pavani, Neha Pathan, Pandu, Padhmavathi, Harsha Sai and Bayya Sunny Yadav also figure in the list.

Most of these celebrities were earlier booked by the Hyderabad and Cyberabad Police. FIRs were registered against them at Panjagutta, Miyapur, Cyberabad, Suryapet, and Visakhapatnam police stations.

The ED suspects endorsements of platforms like Junglee Rummy, A23, JeetWin, Parimatch, Lotus365, and others involved laundering of large sums through paid promotions.

The ECIR has been booked under BNS sections 318 (4), 112 r/w 49, Telangana Gaming Act sections 3, 3 (A), 4, IT Act 2000 and 2008 section 66D.

In March, Vijay Deverakonda, Rana Daggubati, Prakash Raj and others were booked by Cyberabad police for allegedly promoting betting apps. They, however, clarified that they are not promoting any illegal app.

While Rana Daggubati and Vijay Devarakonda stated that they endorsed only legally permitted online skill-based games, Prakash Raj said he did not renew a contract to promote an app in 2017 after realising that he should not have done it.

A case against six actors and 19 social media influencers was registered at the Miyapur Police Station of Cyberabad Commissionerate in March.

The police registered the case on a complaint by one Phanidra Sharma, a resident of Miyapur, who stated that he found several celebrities and social media influencers actively promoting illegal betting apps, websites and other platforms. The complainant said promotion of betting apps was causing harm to individuals and society by encouraging this addictive, short-term, risky money-making behaviour, leading to financial distress.

New Delhi, July 9: The Central Bureau of Investigation (CBI) has taken the custody of Monika Kapoor, an alleged economic offender, in the US and will bring her back to India, ending an over two-decade-long run from the law, officials said on Wednesday.

The development comes after Kapoor’s extradition from the US.

The CBI in a press release said the chase has ended after two decades “with the successful extradition of Fugitive Ms. Monika Kapoor, who is accused in a 2002 Import-Export fraud and was on run since then, from USA.”

According to the information provided by the Central agency, fugitive Monika Kapoor, Prop. of M/s Monika Overseas in conspiracy with her brothers, namely Rajan Khanna and Rajiv Khanna forged export documents viz. Shipping Bills, Invoices and Bank Certificates of Export and Realisation during the year 1998.

She obtained six Replenishment (Rep.) Licenses for the import of duty-free gold worth Rs 2.36 crore.

“In furtherance of the criminal conspiracy, they sold the said Rep. Licenses to M/s Deep Exports, Ahmedabad, on premium. M/s Deep Exports, Ahmedabad utilised the said licenses and imported duty-free gold, which caused a loss to the Government Exchequer to the extent of Rs 1.44 crore during the year 1998,” the press release mentioned.

The CBI, on the completion of the investigation, filed a charge sheet on March 31, 2004, against Monika Kapoor, Rajan Khanna, and Rajeev Khanna under sections 120-B r/w 420, 467, 468 and 471 of the IPC.

The Chief Metropolitan Magistrate, District Court Saket, New Delhi, vide order dated December 20, 2017, had convicted Rajan Khanna and Rajeev Khanna.

The CBI said the accused, Monika Kapoor, did not join the investigation and trial; she was declared a proclaimed offender by the trial court on February 13, 2006. The Ld. Trial Court had issued an open non-bailable warrant of arrest on April 26, 2010, and a Red Corner Notice was also issued against her.

A request for extradition was sent by the CBI on October 19, 2010, to the US authorities. Following intense coordination with authorities in the US, a CBI team travelled to the country to take custody of the fugitive.

This extradition marks a major breakthrough in the pursuit of justice and reiterates CBI’s commitment to bringing fugitives to face the law in India, irrespective of international boundaries.

The CBI team is returning to India with the fugitive. Monika Kapoor is being produced before the concerned court and will now face the trial.

The press release said that the CBI remains steadfast in its mission to combat economic crimes and will continue to pursue all legal avenues to ensure that the fugitives are brought to justice.