From FII selling to fears around HMPV virus, here's why the Indian markets crashed on Monday, January 7, 2025

bear market, stocks, sensex, nifty, loss, growth, crash, index

Markets Today Highlights: All sectoral indices ended in the red, with Nifty PSU Bank being the worst hit, ending down by 4 per cent, dragged by Union Bank of India, and Bank of Baroda

markets

While HMPV may affect anyone with a weakened immune system, young children and people above the age of 65 are at higher risk

Human Metapneumovirus (HMPV)

The government has released the long-awaited draft of Digital Personal Data Protection Rules which proposes to make parent's verifiable consent and identification mandatory for creation of child's user account on online or social media platforms, and also moots possible data localisation requirements for specified personal data.
Notably, the draft rules - which are key to operationalisation of the data protection Act - seek to make parental nod essential for processing of personal data of children. Further, parents' identity and age will also have to be validated and verified through voluntarily provided identity proof "issued by an entity entrusted by law or the government", say the draft rules.
A major - and a surprise - takeaway from the draft rules, according to industry experts, is the aspect of localisation and additional oversight on cross-border data sharing in specified cases.
On processing of personal data of child, the draft rules state: "A Data Fiduciary shall adopt ...

Digital Currency

The price of 22-carat gold also went up by Rs 10, with ten grams of the yellow metal selling at Rs 72,610

Gold, Gold price, Gold rate

US Secretary of State Antony Blinken will embark on what is expected to be his final overseas trip in office this weekend, travelling to South Korea, Japan and France.
The State Department announced Friday that Blinken would visit Seoul, Tokyo and Paris beginning Sunday. He will return to Washington early Thursday in time to attend the funeral services for former president Jimmy Carter, officials said.
In South Korea, which is in the midst of a political turmoil following the impeachment of President Yoon Suk Yeol, and Japan, Blinken intends to highlight the expansion of US cooperation with both nations as part of the Biden administration's Indo-Pacific strategy.
That strategy is primarily intended to blunt Chinese ambitions in the region but also to deter the nuclear threat from North Korea. Political developments in South Korea, however, after Yoon declared martial law and was later impeached, have raised questions about the stability of Washington-Seoul relations.
The US has tak

Antony Blinken, Blinken

In smaller Indian cities and towns, where opportunities for advancement are few and dwindling, the nounis emerging as something of a social and cultural phenomenon

Phone, social media, mobile phones

The draft protection rules released by the government create a balance between regulation and innovation while completely protecting citizen rights, Union minister Ashwini Vaishnaw said on Saturday.
The government issued draft rules for the Digital Personal Data Protection (DPDP) Act on Friday for public consultation till February 18.
"Rules have to be within four walls of the Act. It is within the ambit of the Act passed by Parliament. These rules have been framed to ensure a balance between regulation and innovation while completely safeguarding the rights of citizens," Vaishnaw told PTI in an interview.
The minister said earlier there was only one template available to the world -- the European data protection rule with a high level of regulation. However, Indian rules have attempted to balance the regulation with innovation to safeguard the boom in the innovation ecosystem developing among startups in the country.
He said extensive consultations have been held with the industry

Ashwini Vaishnaw, Ashwini, Vaishnaw

As day 2 progressed in Sydney, Bumrah was seen going off the field just before lunch and was seen in training gears.

Jasprit Bumrah

Fubo in a statement on Monday said it has settled all litigation with Disney and ESPN related to Venu, and also settled all litigation with Fox and Warner Bros Discovery

Warner Bros Discovery

Brent futures rose 27 cents, or 0.4 per cent, to $76.78 a barrel by 11:33 a.m. EST (1633 GMT), while US West Texas Intermediate crude rose 27 cents, or 0.4 per cent, to $74.23

Oil refinery, Oil production, Crude oil

Jeju Air's stock price, already trading near record lows, has fallen 10% since the crash

Jeju Air

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Disney, Fox, Warner Bros drop Venu Sports appeal after Fubo merger deal

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Jeju Air's problems mount after plane crash that killed 179 people

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HMPV virus, Trump inauguration, FII selling: Why Sensex crashed 1400 points

Stock Market Crash Highlights: Sensex sheds 1,258 pts in broad sell-off, Nifty at 23,616; VIX up 15%

HMPV poses great risk for children, can lead to severe illness

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