Sensex down over 450 points; rupee breaches 65 again

August 27, 2013

Rupee_breaches

Mumbai, Aug 27: The BSE benchmark sensex was down by over 450 points in the late morning session on Monday on fresh selling pressure due to sharp fall in rupee value and lower global advices coupled with capital outflows by foreign funds.

Shares of banking, realty, PSU, metal, auto, refinery and capital goods sectors declined on heavy selling pressure.

The sensex resumed lower at 18,460.72 and dropped further to a low of 18,281.61 before quoting at 18,301.61 at 10.30am, showing a loss of 256.52 points, or 1.38 per cent, from its last close.

It was down 474 points at 11.45am.

The NSE 50-share Nifty also moved down by 81.75 points, or 1.49 per cent, to 5,394.75 at 10.30am.

The NSE was down 142 points at 11.45am.

Major losers were HDFC Bank (4.34 per cent), HDFC (4.19 per cent), M&M (2.55 per cent), ONGC (2.48 per cent), Coal India (2.47 per cent), Sun Pharma (2.24 per cent), Maruti Suzuki (2.17 per cent), Hindalco Ind (2.01 per cent), BHEL (1.82 per cent) and SBI (1.81 per cent).

Foreign institutional investors (FIIs) sold shares worth a net Rs 607.43 crore on Monday as per provisional data from the stock exchanges.

Asian stocks fell in early trade after US secretary of state John Kerry said the American president will hold Syria's government accountable for using chemical weapons against Syrian civilians. Key benchmark indices in China, Singapore, Taiwan, Hong Kong, Indonesia and Japan fell by 0.19 per cent to 1.92 per cent while South Korea's Kospi rose 0.29 per cent.

Rupee plunges further to 65.37

The rupee, meanwhile, continued its decline in the late morning session and was last trading at 65.37 against the dollar on heavy month-end dollar demand from importers amid sharp fall in domestic equity market.

The rupee resumed lower at 65.00 per dollar as against the last closing level of 64.30 at the Interbank Foreign Exchange (Forex) Market and dropped further to a low of 65.44 against the US currency before quoting at 65.37 per dollar at 10.40am, showing a loss of 107 paise or 1.66 per cent.

It moved in a range of 65.00 and 65.44 per dollar during the morning deals.

Persistent month-end dollar demand from importers mainly oil-refiners amid sustained foreign capital outflows from the equity market pulled down the rupee value, a forex dealer said.

In the global market, the US dollar slipped against the euro and the Japanese yen in their early trade as concerns about possible US military action against Syria added to existing uncertainty over Federal Reserve policy.

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News Network
May 5,2020

Kochi, May 5: India has sent three naval ships to evacuate its citizens stranded in the Maldives and UAE due to the COVID-19 pandemic, a defence spokesperson said in the early hours on Tuesday.

INS Jalashwa deployed off Mumbai coast, along with INS Magar, diverted for Maldives on Monday night, he said.

While INS Shardul diverted to Dubai to evacuate the expatriates, the spokesperson added.

The three ships will return to Kochi, he said.

INS Magar and INS Shardul are Southern Naval Command ships, while INS Jalashwa is from Eastern Naval Command.

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Agencies
May 14,2020

New Delhi, May 14: India may witness the death of additional 1.2-6 lakh children over the next one year from preventable causes as a consequence to the disruption in regular health services due to the COVID-19 pandemic, UNICEF has warned.

The warning comes from a new study that brackets India with nine other nations from Asia and Africa that could potentially have the largest number of additional child deaths as a consequence to the pandemic.

These potential child deaths will be in addition to the 2.5 million children who already die before their fifth birthday every six months in the 118 countries included in the study.

The estimate is based on an analysis by researchers from the Johns Hopkins Bloomberg School of Public Health published in the Lancet.  

This means the global mortality rate of children dying before their fifth birthday, one of the key progress indicators in all of the global development, could potentially increase for the first time since 1960 when the data was first collected.

There were 1.04 million under-5 deaths in India in 2017, of which nearly 50% (0.57 million) were neonatal deaths. The highest number of under-5 deaths was in Uttar Pradesh (312,800 which included 165,800 neonatal deaths) and Bihar (141,500 which included 75,300 neonatal deaths).

The researchers looked at three scenarios, factoring in parameters like reduction in workforce, supplies and access to healthcare for services like family planning, antenatal care, childbirth care, postnatal care, vaccination and preventive care for early childhood. The effects are modelled for a period of three months, six months and 12 months.  

In scenario-1 marked by 10-18% reduction of coverage of all the services, the number of additional children deaths could be in the range of 30,000 plus over three months, more than 60,000 over six months and above 120,000 over the next 12 months.

Coronavirus India update: State-wise total number of confirmed cases, deaths on May 13

The numbers sharply rose to nearly 55,000; 109,000 and 219,000 respectively for scenario-2, which was associated with an 18-28% drop in all the regular services.

But in the worst-case scenario in which 40-50% of the services are not available, the number of additional deaths ballooned to 1.5 lakhs in the three months in the short-range to nearly six lakhs over a year.

The ten countries that could potentially have the largest number of additional child deaths are Bangladesh, Brazil, Congo, Ethiopia, India, Indonesia, Nigeria, Pakistan, Uganda and Tanzania.

In countries with already weak health systems, COVID-19 is causing disruptions in medical supply chains and straining financial and human resources.

Visits to health care centres are declining due to lockdowns, curfews and transport disruptions, and due to the fear of infection among the communities. Such disruptions could result in potentially devastating increases in maternal and child deaths, the UN agency warned.

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News Network
March 11,2020

Mar 11: Thirteen of the 22 rebel MLAs in Madhya Pradesh have given an assurance that "they are not leaving the Congress", senior party leader Digvijaya Singh said on Thursday while expressing confidence that the Kamal Nath-led government in the state will win a floor test.

"We are not keeping quiet. We are not sleeping," Singh told PTI, a day after Congress leader from the state Jyotiraditya Scindia quit the Congress and 22 MLAs submitted their resignations from the assembly in Madhya Pradesh.

Scindia was offered the post of Madhya Pradesh deputy chief minister but wanted his nominee, Singh said. However, Kamal Nath refused to accept a "chela", he said.

Scindia, he said, could have been a Congress nominee to the Rajya Sabha but "only Modi-Shah" can give a Cabinet post to the "over-ambitious" leader.

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