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Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

New Delhi, Jun 16: With an increase of 10,667 cases and 380 deaths in the past 24 hours, the COVID-19 count in India has reached 3,43,091 on Tuesday, according to the Union Health and Family Welfare Ministry.

It is noteworthy that today's spike in cases is lower than the 11,502 registered in the country yesterday and has also stayed below the 11 thousand mark it had been crossing for the past two days in a row.

However, there is an increase in the number of deaths due to the infection from yesterday, with 380 deaths being reported from across the country, the toll due to COVID-19 has now reached 9,900.

The COVID-19 count includes 1,53,178 active cases, while 1,80,013 patients have been cured and discharged or migrated so far.

Maharashtra with 1,10,744 cases continues to be the worst-affected state in the country with 50,567 active cases while 56,049 patients have been cured and discharged in the state so far. The toll due to COVID-19 has crossed the four thousand mark and reached 4,128 in the state.
It is followed by Tamil Nadu with 46,504 and the national capital with 42,829 confirmed cases.

Jan 6: Senior Bharatiya Janata Party leader Subramanian Swamy on Sunday said the country's economy is not showing good signs though Prime Minister Narendra Modi has manifested tremendous leadership skills in fighting terror and in social welfare projects.

The fiscal decisions of the government have not yielded the desired results, the Rajya Sabha MP said here.

"Modi had shown tremendous leadership skill in fighting terror, in several social areas, micro areas like bringing toilets to every village home. But the economy is a complex system...," he said while taking part in a discussion.

While every minister is talking about a 5 trillion dollar economy by 2024, but the current GDP growth has to be multiplied in four years to achieve that, the former Union minister said.

He said, if wages are slashed as a measure to cope with the situation, labor will become cheap but that will also cut down the people's purchasing power triggering dip in demand, closing down factories and rise in unemployment.

"This is one problem for which you really need an economist," he said.

Swamy said in jest, "I think Modi has one problem with me. Not only I am an economist but also a politician."