L&T Plunges on Kuwait Project Fears, Eternal Rallies on MSCI Boost

• L&T shares dropped over 3% due to concerns about losing a major $8.7 billion oil project in Kuwait, potentially leading to re-bidding.
• Eternal saw a strong rally after its foreign investment limit increased from 20% to 26% and potential doubling of MSCI weightage, attracting significant investment.
• Nifty fell over 200 points from its highs on weekly expiry, with Bank Nifty also losing gains, amid broader market pressure.
• Defense, Realty, Consumer Durables, and Pharma sectors faced significant pressure, each declining over 1%.
• US President Donald Trump's announcement of a 25% tariff on trade with Iran raises concerns for Indian rice exporters, impacting Basmati trade.

Why It Matters: L&T faces project loss fears, while Eternal gains from increased foreign investment and MSCI weightage.