Top stories | ?10 lakh crore market rout, FM unfazed by rupee fall, 4 generations of Ambanis at Kumbh & more
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Indian markets took a heavy blow today, with the Sensex tumbling over 1,000 points and nearly ?10 lakh crore in market value wiped out. Amid the market turmoil, the rupee staged a surprising rebound against a rising dollar, while Finance Minister Nirmala Sitharaman addressed currency volatility in Lok Sabha.
Private equity is poised to play a bigger role in Indian markets, says Blackstone’s senior MD. Sam Altman took a cheeky swipe at Elon Musk after rejecting his bid for OpenAI. Over in Paris, PM Modi and French President Emmanuel Macron pushed for ethical AI development at the AI Action Summit.
Back home, four generations of the Ambani family gathered at the Maha Kumbh in Prayagraj, while India’s energy ambitions took centre stage at the India Energy Week 2025. Meanwhile, the Supreme Court has sought clarity from the Election Commission on EVM verification.
On the global front, former US President Donald Trump issued a strong warning over the Gaza hostage situation, raising tensions in the region.
Market at Close | Sensex falls 1,018 points as ?10 lakh crore market capitalisation erased
Indian equity markets witnessed a sharp decline on Tuesday (February 11), with the Sensex and Nifty posting losses for the fifth consecutive session. The BSE Sensex dropped 1,018 points to close at 76,294, while the Nifty 50 fell 310 points to 23,072.?
The broader sell-off led to a nearly ?10 lakh crore decline in the market capitalisation of BSE-listed companies.
Rupee Rises 1% Despite A Rising Dollar & Fall In Other Asian Currencies On RBI Support?
Rupee does a surprise U-turn, rises nearly 1% despite a rising dollar, and fall in other Asian currencies. Latha Venkatesh explains why the RBI may be selling dollars and moving rupee against the trend.
Finance Minister Sitharaman addresses rupee depreciation amid market volatility
Finance Minister Nirmala Sitharaman addressed the rupee's depreciation while speaking in the Lok Sabha on Tuesday, February 11 emphasising that the Indian currency's movement is influenced by a mix of global and domestic factors.
"Former RBI Governor Rajan, who even participated in the Bharat Jodo Yatra, has acknowledged on Jan 15, 2025 that fixation is always with the rupee-dollar exchange rate, the reality is the dollar has been strengthening against many currencies including the Euro... So it is really a dollar issue," the FM.
PE will dominate big part of Indian markets, says Blackstone senior MD Mukesh Mehta
Blackstone Senior Managing Director Mukesh Mehta believes private equity (PE) will dominate a big part of Indian markets. The deal landscape has evolved in 20 years to move towards primary buyouts, he said.
“Unlike the US, UK and Japan, Indian private equity market is primary buyout dominated which indicates that the India story is just beginning,” he told CNBC-TV18’s Managing Editor Shereen Bhan in a panel discussion at the IVCA on February 11. “We are very bullish on India. India has been the firm’s best performing market for private equity over the last decade.”
Sam Altman says 'no thank you' to Musk-led group's OpenAI bid
A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.
With the unsolicited bid, Musk said he hopes to return OpenAI to being “the open-source, safety-focused force for good it once was,” according to a statement. In response, OpenAI Chief Executive Officer Sam Altman posted on Musk’s X social-media platform: “No thank you but we will buy twitter for $9.74 billion if you want.” (Musk acquired Twitter for $44 billion, but its value later diminished, according to outside estimates.)
Modi in France: AI Talks with Macron, Dinner at Elysee, and War Tribute in Marseille
Indian Prime Minister Narendra Modi arrived in France for a three-day visit, co-chairing the AI Action Summit with President Emmanuel Macron, engaging in bilateral talks, and inaugurating a new consulate in Marseille.
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Paris AI Action Summit | PM Modi urges humane, ethical AI development
Prime Minister Narendra Modi, speaking at the AI Action Summit in Paris, highlighted that the world is entering the era of artificial intelligence (AI). He emphasised that the need for ethical, inclusive, and people-centric AI applications is more critical than ever. PM Modi is co-chairing the summit alongside French President Emmanuel Macron.
4 Generations Of The Ambani Family Attend The Maha Kumbh
RIL MD Mukesh Ambani attended the Maha Kumbh 2025 at Prayagraj on February 11. He was accompanied by his mother, Kokilaben, sons Akash Ambani and Anant Ambani, and daughters-in-law Shloka and Radhika. Akash and Shloka's kids, Prithvi and Veda, were also present.
Trump warns 'all hell' will break loose if Gaza hostages not returned
US President Donald Trump warned Monday that "all hell" would break loose if every Israeli hostage is not released from Gaza within days, after Hamas threatened to postpone further exchanges under a fragile ceasefire deal it said Israel was violating.
The truce that went into effect on January 19 largely halted more than 15 months of fighting in the Gaza Strip and saw five groups of Israeli hostages freed in exchange for hundreds of Palestinians in Israeli custody.
Supreme Court asks Election Commission to clarify procedure for EVM and SLU verification
The Supreme Court on Tuesday sought the Election Commission of India’s response on the pleas seeking verification of the burnt memory and symbol loading units in EVMs in compliance with its judgement.
A special bench comprising Chief Justice Sanjiv Khanna and Justice Dipankar Datta asked the poll panel to refrain from erasing or reloading data during the verification process.
India’s energy ambitions rest on five pillars, says PM Modi at India Energy Week
On Tuesday, February 11, Prime Minister Narendra Modi outlined India’s energy ambitions, stating that they stand on five key pillars – resource availability, skilled workforce, economic strength, political stability, and strategic geography.?
In a video message at the India Energy Week (IEW), he reaffirmed India's commitment to global sustainability while driving domestic energy growth.
3-Day Karnataka Global Investors Meet Underway, State Govt Eyes Investments Of ?10 Lakh Crore
Karnataka Global Investors Meet 2025 | Meet will get underway in Bengaluru today. Top political and business leaders will be attending a three-day event where the state govt is eyeing investments of Rs 10 Lk Cr. Watch Ritu Singh with the details.
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