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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
February 1,2020

New Delhi, Feb 1: India on Friday banned the export of personal protection equipment such as masks and clothing amid a global coronavirus outbreak.

It did not give a reason for the ban but it reported its first case of the new coronavirus on Thursday, a woman in Kerala who was a student of Wuhan University in China.

The central Chinese city of Wuhan is the epicentre of the outbreak, and the virus has since spread to more than 9,800 people globally and killed 213 people in China.

Several Indian citizens living in Wuhan will arrive in India by plane on Saturday and be taken to a quarantine centre on the outskirts of the capital New Delhi.

India, the world’s second most heavily populated country after China, has taken measures to ensure that all people arriving from China report to health authorities.

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Agencies
August 5,2020

Ninety per cent of a sample group of coronavirus-recovered patients from a prominent hospital in China's Wuhan city where the pandemic broke out have reported lung damage and five per cent of them are again in quarantine after testing positive for the virus, according to a media report on Wednesday.

A team at the Zhongnan Hospital of Wuhan University led by Peng Zhiyong, director of the hospital's Intensive Care Unit, has been conducting follow-up visits with '100 recovered patients' since April.

The first phase of this one-year programme finished in July. The average age of the patients in the study is 59.

According to the first phase results, 90 per cent of the patients' lungs are still in a damaged state, which means their lungs ventilation and gas exchange functions have not recovered to the level of healthy people, state-run Global Times reported.

Peng's team conducted a six-minute walking test with the patients. They found that the recovered patients could only walk 400 metres in six minutes while their healthy peers could walk 500 metres in the same period.

Some recovered patients have to rely on oxygen machines even three months after being discharged from the hospital, Liang Tengxiao, a doctor from the Dongzhimen Hospital, Beijing University of Chinese Medicine, was quoted as saying by the report.

Liang's team is also conducting follow-up visits with recovered patients aged above 65.

The results also showed that antibodies against the novel coronavirus in 10 per cent of the 100 patients have disappeared.

Five per cent of them received negative results in Covid-19 nucleic acid tests but positive results in Immunoglobulin M (IgM) tests, and thus have to be quarantined again, the report said.

IgM is usually the first antibody produced by the immune system when a virus attacks. A positive result in an IgM test usually means that a person has just been infected by the virus.

It is still unclear if this means these people have been infected again.

The 100 patients' immune systems have not fully recovered as they showed a low level of B cells -- - a primary force for killing viruses in the human body -- but a high level of T cells which only recognise viral antigens outside infected cells.

"The results revealed that the patients’ immune systems are still recovering," Peng said.

The patients also suffered from depression and a sense of stigma. Most of the recovered patients told the team that their families were not willing to have dinner with them at the same table, the report said.

Less than half of the recovered patients have returned to work, it said.

The findings are significant as the coronavirus first emerged in Wuhan city.

Hubei province for which Wuhan is the provincial capital has reported a total of 68,138 confirmed Covid-19 cases till now. The disease has claimed 4,512 lives in the province, according to the official data.

China reported 27 new confirmed Covid-19 cases on Tuesday, including 22 locally-transmitted cases, the National Health Commission (NHC) said on Wednesday.

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News Network
July 17,2020

Jul 17: US President Donald Trump has said that he wants to do everything possible to keep peace for the people of India and China, according to his spokesperson

Over the past several weeks, the Trump administration has come out in support of India against China.

“He (Trump) said I love the people of India and I love the people of China and I want to do everything possible to keep the peace for the people,” White House Press Secretary Kayleigh McEnany told reporters at a news conference here on Thursday.

She was responding to a question on Trump’s message to India, which recently had a standoff with China in eastern Ladakh along the Line of Actual Control.

Earlier in the day, White House Economic Advisor Larry Kudlow described India as a great ally, saying President Trump is a great friend of Prime Minister Narendra Modi.

On Wednesday, Secretary of State Mike Pompeo said that India has been a great partner of the US.

“India has been a great partner… They are an important partner of ours. I have a great relationship with my foreign minister counterpart. We talked frequently about a broad range of issues. We talked about the conflict they had along the border with China. We've talked about the risk that emanates from the Chinese telecommunication infrastructure there,” Pompeo told reporters in response to a question.

Travelling in Europe, US National Security Advisor Robert O’Brien told reporters that China has been very aggressive with India.

O’Brien said that India is a democracy and is a great friend of the United States. Prime Minister “Modi and President Trump have a super relationship,” he said.

“In fact, it was the last foreign trip that I took with the president before the COVID-19 crisis hit, was to India, and we had a great reception of the Indian people there. We have a lot in common with them, we speak English, we're democracies. We've got a growing, very strong relationship with India,” O’Brien said.

Welcoming the White House statement, Al Mason, co-chair of the Trump Victory Indian American Finance Committee, said that unlike his predecessor, President Trump has come out openly in support of India.

“Most of the Indian-Americans have observed that every earlier president - be it a Democrat or Republican, like Clinton or Bush Senior or Bush Jr or Obama have been very scared to side with India openly, for fear of hurting China.

“Only President Trump has had the courage to say that… I love India, America respects India… US stands with India - and that also, to over one billion Indians in India at the Namaste Trump rally held in India… and that too… near India’s neighbour China,” Mason said in a statement.

“And he is consistent in his love for India and Indian-Americans,” he added.

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