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
January 10,2020

New Delhi, Jan 10: The Supreme Court while hearing petitions challenging restrictions in Jammu and Kashmir on Friday stated that the right to access the internet is a fundamental right under Article 19 of the Constitution of India.

"It is no doubt that freedom of speech is an essential tool in a democratic setup. The freedom of Internet access is a fundamental right under Article 19(1)(a) of the Constitution," a two-judge bench headed by Justice N V Ramana stated while reading out the judgment.

The top court said that Kashmir has seen a lot of violence and that it will try to maintain a balance between human rights and freedoms with the issue of security.

It also directed the Jammu and Kashmir administration to review the restrictive orders imposed in the region within a week. “The citizens should be provided highest security and liberty,” the apex court added.

The top court made observations and issued directions while pronouncing the verdict on a number of petitions challenging the restrictions and internet blockade imposed in Jammu and Kashmir after the abrogation of Article 370 in August last year.

The Supreme Court had on November 27 reserved the judgment on a batch of petitions challenging restrictions imposed on communication, media and telephone services in Jammu and Kashmir pursuant to revocation of Article 370.

The court heard the petitions filed by various petitioners including Congress leader Ghulam Nabi Azad and Kashmir Times editor Anuradha Bhasin.

The petitions were filed after the central government scrapped Article 370 in August and bifurcated Jammu and Kashmir into two Union Territories -- Jammu and Kashmir and Ladakh. Following this, phone lines and the internet were blocked in the region.

The government had, however, contended that it has progressively eased restrictions.

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News Network
June 2,2020

Oakland, Jun 2: Facebook employees are using Twitter to register their frustration over CEO Mark Zuckerberg's decision to leave up posts by President Donald Trump that suggested protesters in Minneapolis could be shot.

While Twitter demoted and placed a warning on a tweet about the protests that read, in part, that “when the looting starts the shooting starts,” Facebook has let it stand, with Zuckerberg laying out his reasoning in a Facebook post Friday.

“I know many people are upset that we've left the President's posts up, but our position is that we should enable as much expression as possible unless it will cause imminent risk of specific harms or dangers spelled out in clear policies,” Zuckerberg wrote.

Trump's comment evoked the civil-rights era by borrowing a phrase used in 1967 by Miami's police chief to warn of an aggressive police response to unrest in black neighborhoods.

On Monday, Facebook employees staged a virtual “walkout” to protest the company's decision not to touch the Trump posts according to a report in the New York Times, which cited anonymous senior employees at Facebook.

The Times report says “dozens” of Facebook workers “took the day off by logging into Facebook's systems and requesting time off to support protesters across the country." “I work at Facebook and I am not proud of how we're showing up.

The majority of coworkers I've spoken to feel the same way. We are making our voice heard,” tweeted Jason Toff, a director of product management at Facebook who's been at the company for a year.

Toff, who has a verified Twitter account, had 131,400 “likes” and thousands of retweets of his comment. He did not immediately respond to a message seeking comment on Monday.

“I don't know what to do, but I know doing nothing is not acceptable. I'm a FB employee that completely disagrees with Mark's decision to do nothing about Trump's recent posts, which clearly incite violence. I'm not alone inside of FB.

There isn't a neutral position on racism,” tweeted another employee, design manager Jason Stirman.

Stirman did not immediately respond to a request for comment on Monday. Sara Zhang, a product designer at the company, tweeted that Facebook's “decision to not act on posts that incite violence ignores other options to keep our community safe.

The policy pigeon holes us into addressing harmful user-facing content in two ways: keep content up or take it down.” “I believe that this is a self-imposed constraint and implore leadership to revisit the solution,” she continued. Zhang declined to comment to The Associated Press.

Representatives for Facebook did not immediately respond to messages for comment.

Twitter has historically taken stronger stances than its larger rival, including a complete ban on political advertisements that the company announced last November.

That's partly because Facebook, a much larger company with a broader audience,targeted by regulators over its size and power, has more to lose. And partly because the companies' CEOs don't always see eye to eye on their role in society.

Over the weekend, Twitter changed the background and logo if its main Twitter account to black from its usual blue in support of the Black Lives Matter protesters and added a #blacklivesmatter hashtag. Facebook did the same with its own logo on its site, though without the hashtag.

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News Network
January 30,2020

Mumbai, Jan 30: The Shiv Sena on Thursday endorsed Union home minister Amit Shah's view that alleged inflammatory statements made by Sharjeel Imam, an anti- Citizenship (Amendment) Act (CAA) activist, were dangerous.

No politics should be done on the issue, and such "pest" afflicting the country should be finished off, it said.

Imam was arrested on Tuesday in connection with his speeches at Jamia Millia Islamia University in Delhi and in Aligarh during anti-CAA protests.

He has been booked for sedition, among other offences.

In an editorial published in its mouthpiece `Saamana', the Sena, a former ally of the BJP, said, "We agree with union home minister's comments that Sharjeel Imam's alleged words of separation are more dangerous than that of Kanhaiya Kumar."

Kumar, former student leader from Jawaharlal Nehru University, had been arrested over alleged separatist slogans shouted during a protest on varsity campus.

The Sena, which has formed alliance with the Congress and NCP to come to power in Maharashtra, is often seen walking a tightrope to preserve its credentials as a pro-Hindutva party.

"The union home ministry, while initiating action against Imam, should not indulge in politics and try to finish off this pest that is afflicting our country," the editorial said.

"One must find out why such language of breaking up this country into pieces is being used by the educated youth of this country more and more frequently. Who is spewing such venom into the mind of Sharjeel who did his graduation from IIT-B and now pursuing PhD from JNU?" the Sena asked.

"Even people involved in Elgar Parishad at Pune are facing sedition charges and these people have been known as intellectuals and are well-known personalities," said the party.

"A conspiracy to bring about a conflict between Hindus and Muslims and ensure continuance of anarchy and civil war as in Iraq and Afghanistan exists. The boost for such activities is coming from a 'political laboratory'," the editorial said.

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