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.

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Zakir Husain
 - 
Tuesday, 6 Feb 2018

Baloon must burst somehow....

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News Network
May 19,2020

Washington, May 19: As the scientists across the world are struggling to develop a vaccine for combating coronavirus, US drugmaker Moderna announced on Monday (local time) that the phase I trial of its Covid-19 vaccine has shown positive early results.

The company is hopeful that it's vaccine could be available to the public as early as January next year. Several firms across the world are in the race to develop a vaccine for the deadly virus which has claimed over 3 lakh lives worldwide.

CNN citing Dr. Tal Zaks, Moderna's chief medical officer reported that "if future studies go well, the company's vaccine could be available to the public as early as January".

"This is absolutely good news and news that we think many have been waiting for for quite some time," Zaks was quoted as saying.

Moderna, based in Cambridge, Massachusetts announced that the vaccine developed neutralising antibodies to the virus at levels reaching or exceeding the levels seen in people who have naturally recovered from Covid-19, reported CNN.

These will be followed by phase 2 trials and phase 3 trials, which Moderna plans to start in July.

President Donald Trump had on Friday said that that the United States will be able to deliver a few hundred million doses of COVID-19 vaccine, under 'Operation Warp Speed', by the end of this year.

"I have very recently seen early data from a clinical trial with a coronavirus vaccine and this data made me feel even more confident that we'll be able to deliver a few hundred million doses of vaccine by the end of 2020 and we will do the best we can," Trump had said at a press conference at the White House on Friday.

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Agencies
January 4,2020

Tel Aviv, Jan 4: Israeli Prime Minister Benjamin Netanyahu on Friday came out in the support of Trump administration for carrying out the strike near Baghdad's international airport which led to the killing of Iran's elite IRGC Qassem Soleimani, saying that "The US has the right of self-defence."

"Just as Israel has the right of self-defence, the United States has exactly the same right. Qassem Soleimani is responsible for the death of American citizens and many other innocent people. He was planning more such attacks," PM Benjamin Netanyahu wrote on Twitter.

In another tweet, Netanyahu also credited US President Donald Trump for acting decisively in the operation of Iraq that led to the killing of Qassem Soleimani -- a US-designated terrorist, along with six others.

"President Donald Trump deserves all the credit for acting swiftly, forcefully and decisively. Israel stands with the United States in its just struggle for peace, security and self-defence," he added.

Meanwhile, Iran on Friday vowed to take a "vigorous revenge" over the killing of General Qassem Soleimani, the head of Iran's elite IRGC.

The US had accused Soleimani of orchestrating several attacks on coalition bases in Iraq including the December 27 attack in which American and Iraqi personnel were killed. 

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News Network
July 18,2020

Global coronavirus infections passed 14 million on Friday, according to a Reuters tally, marking the first time there has been a surge of 1 million cases in under 100 hours.

The first case was reported in China in early January and it took three months to reach 1 million cases. It has taken just four days to climb to 14 million cases from 13 millionrecorded on July 13.

The United States, with more than 3.6 million confirmed cases, is still seeing huge daily jumps in its first wave of Covid-19 infections. The United States reported a daily global record of more than 77,000 new infections on Thursday, while Sweden has reported 77,281 total cases since the pandemic began.

Despite the surging cases, a cultural divide is growing in the country over wearing masks to slow the spread of the virus, a precaution routinely taken in many other nations.

U.S. President Donald Trump and his followers have resisted a full-throated endorsement of masks and have been calling for a return to normal economic activity and reopening schools despite the surging cases.

COVID-19 Pandemic Tracker: 15 countries with the highest number of coronavirus cases, deaths

Other hard-hit countries have “flattened the curve” and are easing lockdowns put in place to slow the spread of the novel virus while others, such as the cities of Barcelona and Melbourne, are implementing a second round of local shutdowns.

The number of cases globally is around triple that of severe influenza illnesses recorded annually, according to the World Health Organization.

The pandemic has now killed more than 590,000 people in almost seven months, edging towards the upper range of yearly influenza deaths reported worldwide. The first death was reported on Jan. 10 in Wuhan, China before infections and fatalities then surged in Europe and later in the United States.

The Reuters tally, which is based on government reports, shows the disease is accelerating the fastest in the Americas, which account for more than half the world’s infections and half its deaths.
In Brazil, more than 2 million people have tested positive including President Jair Bolsonaro, and more than 76,000 people have died.

India, the only other country with more than 1 millioncases, has been grappling with an average of almost 30,000 new infections each day for the last week.

Those countries were the main drivers behind the World Health Organization on Friday reporting a record one-day increase in global coronavirus cases of 237,743.

In countries with limited testing capacity, case numbers reflect only a proportion of total infections. Experts say official data likely under-represents both infections and deaths.

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