Sensex, Nifty tumbles over 3.6% after global sell-off

Agencies
February 6, 2018

Feb 6: The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 per cent in opening trade today due to across-the-board losses after investor sentiment was hit by a sell-off in world markets.

Extending its falling streak for the sixth straight session, the 30-share index fell by 1,274.35 points, or 3.66 per cent, to 33,482.81 with all sectoral indices led by realty, consumer durables, metal and banking tradings in the negative zone.

The index had lost 1,526 points in the previous five sessions after its remarkable over 2,200-point gain in January month.

Also, the broader NSE Nifty cracked below 10,300-mark by falling 390.25 points, or 3.65 per cent to 10,276.30.

Market sentiment took a beating in line with sharp losses at other Asian markets after a record-breaking loss on Wall Street after investors fret over rising US borrowing costs, brokers said.

The US Dow suffered its deepest fall in history, erasing all of its 2018 gains, while the S&P 500 took a beating to sit down for the year yesterday.

Asian markets followed the trend with Tokyo diving more than 5 per cent, Hong Kong 4 per cent and Sydney 3 per cent, Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent, and Shanghai 2.1 per cent.

The heavy profit booking comes after months of surges fuelled by corporate earnings, global outlook and optimism over the US economy.

In domestic markets, caution ahead of RBI monetary policy meeting which begins later in the day and the rupee depreciating by 29 paise to 64.36 against the dollar too dampened the sentiment, brokers said.

Strong selling pressure dragged down all the Sensex and the Nifty components.

Foreign institutional investors sold equities worth Rs 1,263.57 crore in yesterday’s trade, as per provisional data.

The laggards include Tata Motors, Yes Bank, Axis Ban, SBI, Asian Paint,Tata Steel, Adani Ports, ICICI Bank, IndusInd Bank, HDFC Bank, Maruti Suzuki, L&T and Hero MotoCorp, plunged by up to 7.55 per cent.

Comments

Zakir Husain
 - 
Tuesday, 6 Feb 2018

Baloon must burst somehow....

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News Network
June 15,2020

Beijing, Jun 15: China is locking now ten more neighbourhoods in Beijing to try and contain the spread of a new coronavirus outbreak linked to a food market, authorities announced Monday.

City official Li Junjie said at a press conference that fresh cases had been found in a second wholesale market in northwestern Haidian district, and as a result, the market and nearby schools would be closed, and people living in ten communities around it placed under lockdown.

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News Network
May 7,2020

Visakhapatnam, May 7: Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Thursday announced an ex- gratia payment of Rs one crore each to the kin of those killed in the styrene gas leak incident at LG Polymers Limited near here.

The NDRF had put the death toll from the leak at 11.

The chief minister announced a committee to probe into the mishap and also said the government would talk to the LG Polymers management seeking job for the kin of the deceased in any of its businesses.

Speaking to reporters after conducting a review meeting, Reddy also announced Rs 10 lakh each to those undergoing treatment on ventilator support and Rs 25,000 to those who took treatment as out-patients after developing health complications due to inhalation of the styrene vapour.

Earlier, he held a review meeting at the Andhra Medical College with District Collector Vinay Chand and others.

The gas leak victims undergoing treatment in various hospitals would be paid Rs one lakh each. The 15,000-odd population in the five villages that were affected by the gas leak would be paid Rs 10,000 each, the chief minister added.

Reddy further announced constitution of a high-level committee, headed by the Special Chief Secretary (Environment and Forests), to probe into the mishap and make recommendations to prevent such tragedies in the future.

Earlier, he visited the King George Hospital and consoled the victims of the gas leak.

Accompanied by his Deputy holding the health portfolio A K K Srinivas and Chief Secretary Nilam Sawhney, Reddy flew down to the port city and went straight to the KGH.

He met the gas leak victims undergoing treatment and enquired about their well-being.

At the review meeting, the Collector informed the Chief Minister that the gas spread was limited to a 1.5 to 2 km area from the epicentre of the leak and that the locals were evacuated to safety.

Of the two styrene tanks in the plant, the leak occurred from one that was holding about 1,800 kilo litres of the chemical.

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News Network
May 18,2020

Beijing, May 18: China has reported 25 new COVID-19 patients, the health authorities said on Monday, as 14 asymptomatic cases were detected in Wuhan, the first epicentre of the coronavirus where officials are doing mass testing of the city's entire 11 million population, taking the number of such cases in the city to 337, the highest in the country.

The death toll in China remained at 4,634 on Sunday with no new fatalities reported.

China's National Health Commission (NHC) reported seven new confirmed cases of COVID-19 and 18 asymptomatic cases on Sunday.

Jilin province where the government has implemented strict control measures in the last few days following reports of clusters of cases in Jilin city reported two cases on Sunday, while Shanghai city has reported one.

As of Sunday, the overall confirmed cases in China had reached 82,954, including 82 patients who are still being treated, and 78,238 people who have been discharged after recovery.

Also on Sunday, 18 new asymptomatic cases including two from abroad were reported in China, taking the total number under medical observation to 448, the NHC said.

Asymptomatic cases pose a problem as the patients are tested COVID-19 positive but develop no symptoms such as fever, cough or sore throat. However, they pose a risk of spreading the disease to others.

Wuhan which is undergoing mass testing of the city's entire over 11 million population to determine the prevalence of the virus has reported no new confirmed cases, but 14 new asymptomatic infections, taking the number of such cases in the city to 337, the highest in the country, according to the figures released by the local health commission on Sunday.

The death toll in Hubei province stood at 4,512, including 3,869 in Wuhan.

The province so far has reported 68,134 confirmed COVID-19 cases in total, including 50,339 in Wuhan, according to the officials figures.

As the cases dropped, China on Sunday exempted people in Beijing from wearing masks, signalling that the virus is under control in the national capital.

As the virus is abating in the country, China is opening up all its business including entertainment centres like Shanghai Disneyl and to show that it has managed to control the dreaded virus while the world is struggling with it with lockdowns and massive casualties.

The novel coronavirus which originated in Wuhan in December last year has claimed 315,185 lives and infected over 4.7 million people globally, according to Johns Hopkins University data.

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