I think I should stay away from this debate: Modi on judicial crisis

Mumbai, Mar 13:  Investor wealth worth nearly Rs 12 lakh crore was wiped out in less than 15 minutes of trading on the stock exchanges on Friday, with the two benchmarks, the BSE Sensex and the NSE Nifty, crashing over 10 per cent.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Trading was halted for 45 minutes in the early session after the index hit its lower circuit limit.

The BSE and NSE benchmark indices, however, pared most losses with the Sensex trading 835.40 points, or 2.55 per cent, lower at 31,942.74, and the Nifty was down 253.25 points or 2.64 per cent at 9,336.90 at 10.40 am.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

Traders said besides global selloff, incessant foreign fund outflows also weighed on investor sentiments.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

On the BSE, 1,279 scrips declined, while 193 advanced and 40 remained unchanged.

Volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Bourses in Shanghai dropped over 3.32 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

Wall Street lost 10 per cent in overnight trade.

More than 1,30,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry.

New Delhi, Jun 23: The Delhi High Court Tuesday granted bail to Jamia student Safoora Zargar, who is pregnant and was arrested under anti-terror law UAPA in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act, as Solicitor General Tushar Mehta did not oppose it on humanitarian grounds.

At the outset of the hearing, Mehta, representing Delhi Police, submitted that Zargar can be released on regular bail on humanitarian grounds and the decision has not been taken on merits of the case and should not be made a precedent.

Justice Rajiv Shakdher, who conducted the hearing through video conferencing, released Zargar, who is 23-week pregnant, on bail on furnishing a personal bond of Rs 10,000 and surety of like amount.

The court said she shall not indulge in any activity for which she has been charged with and shall not hamper the investigation or influence the witnesses.

New Delhi, May 11: Prime Minister Narendra Modi on Monday chaired a fresh round of consultation with chief ministers on ways to strengthen the COVID-19 containment strategy and stepping up of economic activities in a calibrated manner as the 54-day nationwide lockdown nears an end.

Large-scale movement of migrant workers from urban to rural India and the problems their return to home states may cause in restarting the economy will also be among the focus areas during the fifth virtual interaction between the prime minister and chief ministers since the outbreak of the deadly virus in the country.

There will be an effort to ensure that all participating chief ministers get an opportunity to air their views during the interaction, as some of the CMs had complaint that they were not allowed to put forth their views during the last interaction on April 27.

At a meeting on Sunday with Cabinet Secretary Rajiv Gauba, state chief secretaries told him that "while protection is required from COVID-19, economic activities also need to be stepped up in a calibrated manner", according to an official statement.       

With thousands of migrant workers taking special trains to go back to their home states, the restarting of industrial activities will prove to be a challenge for states though several relaxations have been made in labour laws to increase factory output.    

The meet is also likely to discuss efforts to convert 'red' zones with high COVID-19 case load into 'orange' or 'green' zones.       The prime minister interacted with the chief ministers last on April 27. Days after the meeting, the central government had extended the lockdown by two more weeks till May 17 to arrest the spread of the virus, but gave several relaxations in economic activities and movement of people.

The nationwide lockdown has been in force since March 25 to contain the spread of the virus, which has killed more than 2200 people, and afflicted more than 67,000 in the country.