Sensex crashes 1,689 pts on black money crackdown, US election

November 9, 2016

Mumbai, Nov 9: On frantic selling, stock market benchmark BSE Sensex crashed nearly 1,689 points and Nifty plunged by over 541 points on early US election trends showing Donald Trump's lead while government's move to withdraw notes of higher denominations cast shadow on cash-focussed sectors.

SensexConsequently, the Sensex nosedived by 1,688.69 points or 6.12 per cent to slip below the crucial 26,000-mark to trade at 25,902.45 with all the sectoral indices led by realty, consumer durables and auto tumbling by up to 10.78 per cent.

On similar lines, the Nifty dropped 541.30 points, or 6.33 per cent, to 8,002.25.Sentiment suffered a jolt following government's surprise move to ban Rs 500 and Rs 1,000 currency notes in a bid to curb black money, triggered all-round selling, dragging down the key indices form their key levels.

Besides, meltdown in global equities as polling numbers suggested that market-favoured Hillary Clinton is struggling in her bitter battle against Donald Trump for the US presidency dampened sentiments.

Moreover, the rupee weakening against the US dollar by 23 paise to 66.85 also had a bearing on the sentiment.

Most of the 30-Sensex constituents led by M&M, ADani Ports, BhartiAirtel, Bajaj Auto, Hero MotoCorp, ICICI Bank, Sun Pharma, Cipla, HDFC Ltd, ONGC and Hind Unilever were trading in negative terrain, falling by up to 5.77 per cent.

Real estate stocks bore the brunt as the sector is expected to feel the heat of the government's move to phase out of the old Rs 500 and Rs 1,000 currency notes. Major losers were DLF, Sobha Developers, India Bull Real Estate, Godrej Properties, HDIL and Unitech, down by up to 15 per cent.

Meanwhile, Brent oil prices too dived 2.65 per cent to 44.82 per barrel in Asian trade.

In Asian region, Hong Kong's Hang Seng tumbled 2.73 per cent, Japan's Nikkei down 2.235 per cent while Shanghai Composite Index fell 1.32 per cent. The US stocks futures S&P plunged 4.45 per cent today.

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News Network
April 11,2020

New Delhi, Apr 11: Calling upon chief ministers to popularise Aarogya Setu app, Prime Minister Narendra Modi on Saturday said it will an essential tool in India's fight against coronavirus and referred to the possibility of the app being an "e-pass which could subsequently facilitate travel from one place to other".

Interacting with chief ministers through video conference, the Prime Minister mentioned how South Korea and Singapore had got success in contact tracing and said India has made its own effort through the app amid efforts to contain the spread of coronavirus.

A PMO release said that the Prime Minister spoke about popularizing the Aarogya Setu app to ensure downloads in greater numbers.

"He referred to how South Korea and Singapore got success in contact tracing. Based on those experiences, India has made its own effort through the app which will be an essential tool in India's fight against the pandemic, he said. He also referred to the possibility of the app being an e-pass which could subsequently facilitate travel from one place to another," the release said.

The Prime Minister had earlier this week urged people to download the app saying it is an important step in the fight against COVID-19 and its effectiveness will increase as more people use it.

"Aarogya Setu is an important step in our fight against COVID-19. By leveraging technology, it provides important information. As more and more people use it, it's effectiveness will increase. I urge you all to download it," he had said in a tweet.

The app launched earlier this month in public-private partnership enables people to themselves assess the risk for their catching the coronavirus infection.

The app makes its calculations based on a person's interaction with others, using Bluetooth technology, algorithms and artificial intelligence.

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News Network
January 1,2020

New Delhi, Jan 1: Newly-appointed Chief of the Defence Staff General Bipin Rawat on Wednesday said the armed forces stay away from politics and work as per the directives of the government of the day, remarks that come amid allegations that the forces were being politicised.

Gen Rawat also said that his focus as CDS will be to integrate the efforts of the three services and to work as a team.

"We keep ourselves away from politics. We act according to the directives of the government of the day," he said.

Gen Rawat said his focus will be to ensure best and optimal use of resources allocated to the three services.

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Agencies
May 31,2020

New Delhi, May 31: India registered its highest single-day spike of COVID-19 cases on Sunday with 8,380 new infections reported in the last 24 hours, taking the country's tally to 1,82,143, while the death toll rose to 5,164, according to the Union Health Ministry.

The number of active COVID-19 cases stood to 89,995, while 86,983 people have recovered and one patient has migrated, it said.

"Thus, around 47.75 per cent patients have recovered so far," a senior health ministry official said.

The total confirmed cases include foreigners.

The death toll has gone up by 193 since Saturday morning, of which 99 were from Maharashtra, 27 from Gujarat, 18 from Delhi, nine each from Madhya Pradesh and Rajasthan, seven from West Bengal, six each from Tamil Nadu and Telangana, five in Bihar, three from Uttar Pradesh, two from Punjab, and one each from Haryana and Kerala.

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