Investors lose over Rs 4 lakh crore in 2 days

Agencies
September 12, 2018

New Delhi, Sept 12: Investors have lost a whopping Rs 4.14 lakh crore in two days of trading as stock markets continued to face heavy selling pressure for the second straight session on Tuesday.

The BSE benchmark index crashed 509.04 points, or 1.34%, to end at 37,413.13 due to heavy selling in FMCG, metal, auto and financial stocks amid growing concerns over intensifying global trade war. This is the weakest closing since August 2 when it had ended at 37,165.16. It had lost 467.65 points the previous day.

Total investor wealth is measured in terms of the cumulative market value of all listed stocks on BSE.

Led by the steep decline in stocks, the market capitalisation of BSE-listed companies tumbled by Rs 4,14,121.84 crore to Rs 1,53,25,666 crore in two consecutive days. Experts said that rupee depreciation is a big concern for market sentiment.

The 30-share index tanked more than 1% for the second day in a row after the rupee slid to a new life-time low of 72.73 in afternoon trade. Stock markets had opened higher but bears regained control soon to wipe out initial gains as crude oil prices rebounded in Asian trade.

Besides, mounting tensions over trade war is a worrisome factor for the Indian market, experts said.

From the 30-share basket, 25 stocks ended with losses led by Tata Steel, Power Grid Corporation of India, Hero MotoCorp and Tata Motors.

The broader market also depicted bearish trend, with the S&P BSE mid cap falling by 1.36% and small cap index 1.37%. Sectorally, the BSE consumer durables index was the biggest drag, down 2.47%.

Surging crude oil prices, rupee plunging to record lows and widening trade deficit, besides negative global leads were major factors that dampened sentiments on the domestic bourses, a broker said.

In Asian trade, international benchmark Brent crude again went past $78 to trade at $78.52 a barrel, by rising 1.30% amid looming US sanction against Iran's petroleum industry.

Investors were cautious as trade war concerns between the US and China escalated, brokers said.

"The threat of trade tariffs, outflow of foreign funds and concern on domestic macros will influence investors to stay on a cautious note," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.

Moreover, expectations of a US interest rate hike this month by the Federal Reserve that may strengthen the dollar and accelerate sell-off by foreign funds in emerging markets too negatively impacted sentiments, brokers said.

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News Network
May 14,2020

New Delhi, May 14: With a spike of 3,722 new cases in the last 24 hours, the COVID-19 count in India reached 78,003 on Thursday morning, according to the Ministry of Health and Family Welfare.

As per the latest update by the Ministry, there are 49,219 active cases in the country while 26,235 patients have been cured and discharged, and one migrated, so far.

With 134 new deaths being reported due to the disease since yesterday, the toll due to the disease reached 2,549.

With 25,922 confirmed cases, Maharashtra is the worst affected by the infection in the country so far.

Gujarat and Tamil Nadu, with 9,267 and 9,227, cases respectively are the next worst affected by the disease.

The national capital, Delhi, is just a couple of cases behind the 8 thousand mark as per the update on Thursday morning.

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News Network
January 15,2020

Jan 15: Uttar Pradesh Chief Minister Yogi Adityanath said on Tuesday that the Muslim population in India increased manifold since the partition because they were given special rights and facilities, according to a report by The Indian Express.

"The Muslim population in India has increased manifold since 1947, it has gone up by seven to eight times. No one has any objection. If they, as citizens of the country, work for development, they are welcome. Their population has increased because they have been given special rights and facilities. All possible steps were taken to ensure their growth," Adityanath said while addressing a rally in Gaya organised by the BJP in support of the Citizenship (Amendment) Act.

He asked the audience, "But what happened in Pakistan?" Claiming that the Hindu population in Pakistan had decreased since 1947, he asked why it was so.

Yogi said that the countrywide anti-CAA protests are a "conspiracy" hatched from afar by those resentful of a united and grand India and these are being aided by a "crooked" opposition. He further charged that those opposing the legislation were committing the "paap" (sin) of working against national interests.

"For taking such a step, Prime Minister Narendra Modi and Home Minister Amit Shah deserve acclaim. Instead, they are being attacked", Yogi lamented.

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India
 - 
Wednesday, 15 Jan 2020

He himself contradicts his statements. He claims the Muslim population rose 8-9 (according to him) times since 1947. If he was educated its simple 73 years have passed the population grows. Still, the Muslim population is only a minority against the majority. He talks about special rights and facilities given yes agreed but not by him it's by the Constitution of India and for all the minorities. So it's not you its Constitution of India.  The majority of the people are against the act CAA is against the very fundamental of the Constitution of India which PM & HM are taking away from the people. If you disagree, disrespect, go against it then you are against the country itself in Hindi deshdruhi. 

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News Network
February 11,2020

New Delhi, Feb 11: The Aam Aadmi Party on Tuesday appeared to be heading back to power for a second term in Delhi with the party leading in 52 seats of the 70 and the BJP ahead in 18 as votes for last week's assembly elections were counted, according to Election Commission figures. The contest for political power over the national capital was a bipolar one with the Congress nowhere in the reckoning, according to initial trends.

AAP supremo and chief minister Arvind Kejriwal was leading in the New Delhi seat by 4,300 seats, while his deputy Manish Sisodia from Patparganj seat was ahead by 102 votes.

BJP leader Vijender Gupta, who is also leader of opposition in the Delhi legislative assembly, was trailing by over 1,200 votes from Rohini.

As early celebrations broke out in the AAP headquarters in Rouse Avenue, BJP's Delhi unit chief Manoj Tiwari asked his party supporters not to lose hope.

"There are 27 seats where the difference of votes is between 700 to 1,000," Tiwari told reporters.

Looking ahead at victory, he said he was not nervous and was ready to take on the responsibilities that a win would bring.

"All talk is over. We have to wait for the blessings of the people. I am confident it will be a good day for BJP. We are coming to power in Delhi today. Don't be surprised if we win 55 seats," Tiwari said.

Kejriwal, who had led his party to a spectacular win of 67 of 70 seats in 2015, is expected to address party workers and the media later in the day. However, his party workers were upbeat and in celebratory mode.

"We have been saying since the beginning that the upcoming polls will be fought on the basis of work done by us... You wait and watch, we will register a massive win," AAP spokesperson Sanjay Singh told reporters.

"We hope we get such a clear majority that a message goes out that doing Hindu-Muslim politics will not work anymore," said AAP volunteer Fareen Khan at the party office.

The headquarters were decorated with blue and white balloons and big cutouts of Kejriwal were placed in different parts of the office.

Labour minister and AAP's Delhi unit convenor Gopal Rai was leading in Badarpur constituency by 1,994 votes.

Atishi, AAP's Kalkaji candidate, who was also instrumental in the transformation of Delhi government schools, was trailing by 190 votes.

AAP's Timarpur candidate Dilip Pandey was leading by over 1,500 votes.

BJP's Tajinder Singh Bagga was trailing on Hari Nagar seat by over 50 votes, while AAP's Raghav Chadha is leading from Rajinder Nagar constituency.

Congress' Chandni Chowk candidate Alka Lamba, who is sitting MLA from the constituency, was trailing by over 5,800 votes.

Counting centres are spread across 21 locations in 11 districts, including at the CWG Sports Complex in east Delhi, NSIT Dwarka in west Delhi, Meerabai Institute of Technology and G B Pant Institute of Technology in southeast Delhi, Sir CV Raman ITI, Dheerpur in central Delhi, and Rajiv Gandhi Stadium in Bawana in north Delhi.

The assembly elections were held on February 8.

A total of 672 candidates, including 593 men and 79 women, were in the fray for the hotly contested, often divisive polls with the anti-CAA protests in Shaheen Bagh occupying centrestage towards the end of the campaign.

While the AAP, of course, put forward Kejriwal, Prime Minister Narendra Modi, home minister Amit Shah and Uttar Pradesh chief minister Yogi Adityanath were among those who extensively campaigned for the BJP.

The Congress, still recovering maybe from the death of its three-time Delhi chief minister Sheila Dikshit in July last year, got into campaign mode much later. Former prime minister Manmohan Singh and party leaders Rahul Gandhi and Priyanka Gandhi were among those who campaigned for the Congress.

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