Jet Airways employees seek President's intervention

Thiruvananthapuram, Apr 14: Only three fresh COVID-19 cases were reported in Kerala on April 13, while 19 confirmed patients, who were undergoing treatment, tested negative for the infection, according to the COVID-19 Outbreak Control and Prevention State Cell, Health and Family Welfare Department, Kerala government.

As of Monday evening, there are just 178 positive COVID-19 cases in the State.

Twelve patients from Kasargod district, three each from Pathanamthitta and Thrissur districts, and one from Kannur district are among those who have recovered from COVID-19 and tested negative.

To date, there have been a total of 378 confirmed cases of coronavirus in Kerala.
Meanwhile, Kerala Chief Minister Pinarayi Vijayan has demanded that State Relief Funds be made eligible for Corporate Social Responsibility (CSR) funding by making changes to the Companies Act.

Addressing the media, the Chief Minister said, "The Government of Kerala is of the opinion that contributions to the Chief Minister's Disaster Relief Funds should be included as an eligible expenditure under CSR. In a federal setup, the Relief Funds set up by the States for a public purpose cannot be excluded from the eligibility criteria when the same is available for a Central Fund set up with similar objectives and aims."

The Kerala CM said that he has written to the Prime Minister in this regard urging him to make the necessary changes.

Vijayan once again reiterated the demand of the State government to bring back stranded Keralites from overseas and added that, "We will extend all possible help and support to the Pravasi Malayalees when they come back also including rehabilitation of those who would lose their jobs in the backdrop of the pandemic outbreak."

He added that a decision on extending the lockdown in the State will be taken after taking into account the decision of the Central government in the address by the Prime Minister scheduled for April 14.

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.

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.