Marco Rubio Visits Jamnagar, Nifty Falls Below 22,600, HDFC Bank Probes Leak
US Secretary of State Marco Rubio visited Reliance Industries' Jamnagar refinery complex, where he was hosted by Mukesh Ambani and Anant Ambani. The visit occurred as global crude oil surpassed 110 dollars per barrel and ahead of a planned US visit by Prime Minister Narendra Modi. Meanwhile, Indian markets experienced significant pressure, with the Nifty falling below the 22,600 mark amid broad-based selling across sectoral indices, led by metals and autos, while India VIX gained over 5 percent. In corporate news, HDFC Bank initiated an internal investigation into two senior executives regarding an alleged leak of confidential business strategies, confirming the review via an official statement. Additionally, Jio Platforms' initial public offering saw robust demand, crossing full subscription within 100 minutes of opening. Geojit Investments Senior Vice President Gaurang Shah shared his market outlook, discussing earnings and recommending a subscribe rating on the Jio Platforms IPO for long-term investors.