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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Agencies
July 9,2020

The new visa regulations requiring international students in the US with an F-1 visa to take at least one in-person course or face the prospect of deportation is likely to "cause uncertainties and difficulties" for some students, the Indian Embassy has said.

"These new modifications at a time when many of the US universities and colleges are yet to announce their plans for the new academic year are likely to cause uncertainties and difficulties for some Indian students wishing to pursue their studies in the US," said a spokesperson of the Indian Embassy.

Responding to media queries, the spokesperson said the Indian government has taken up the matter with concerned US officials.

At the India US Foreign Office Consultations held on July 7, Foreign Secretary Harsh Vardhan Shringla conveyed India's concerns on the matter to Under Secretary of State for Political Affairs David Hale.

According to a recent report of Student and Exchange Visitor Program (SEVP), there were 1,94,556 Indian students enrolled in various academic institutions of the US in January this year. Of these 1,26,132 were males and 68,405 were females.

Noting that partnership in higher education is a key component of the strong people-to-people ties between India and the US, the spokesperson said in the last two decades Indian students in American universities and colleges have been the harbingers of a strong partnership between technology and innovation sectors between the two countries.

The spokesperson hoped that the US authorities would provide adequate flexibility in their visa rule, keeping in mind the extraordinary circumstances created by the COVID-19 pandemic for the Indian students community.

We continue to engage all the stakeholders in the matters, including the US administration officials, Congressional leaders, universities and colleges as well as the Indian students community in the US as we move forward towards the 2020-21 academic year to further strengthen our bilateral partnership in higher education, the spokesperson said.

Announced by the SEVP on July 6, the new rules provide temporary exemptions for nonimmigrant students on F-1 and M-1 visas taking online classes due to the COVID-19 pandemic for the fall semester of the 2020 academic year.

While these modifications do provide some flexibility for US universities and colleges to adopt a hybrid model -- that is a mixture of online and in person classes -- they also restrict international students on F-1 and M-1 visas from taking courses entirely online, the spokesperson said.

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News Network
May 11,2020

New Delhi, May 11: Shares of Indian Railway Catering And Tourism Corporation (IRCTC) jumped 5 per cent in early trade on Monday after the Indian Railways said it will gradually resume passenger train services from May 12.

The company's shares gained 5 per cent to Rs 1,302.85 -- its highest trading permissible limit for the day -- on the BSE. At the National Stock Exchange (NSE), it rose 5 per cent to Rs 1,303.55 -- its upper circuit limit.

Booking for reservation in these trains will start at 4pm on May 11 and will be available only on the IRCTC website.

The Indian Railways will gradually resume passenger train services from May 12 and will ask passengers to arrive at the station at least an hour before departure, the national transporter said on Sunday.

Initially, the all air-conditioned services will begin on 15 Rajdhani routes and the fare would be equivalent to that of the super-fast train, it said.

The special trains will run from New Delhi to Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.

All passenger services were suspended due to a lockdown announced on March 25 and the railways later started the on-demand Shramik Specials to ferry migrants stranded across the country. It, however, has been running freight and parcel services.

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Agencies
March 14,2020

Nairobi, Mar 14: Kenya and Ethiopia on Friday announced their first confirmed cases of coronavirus, as East Africa, which has so far been unscathed by the global pandemic, scaled up emergency measures to contain its spread.

In Kenya, a 27-year-old Kenyan woman tested positive for the virus on Thursday in Nairobi, a week after returning from the United States via London.

She was in a stable condition and recovering, Health Minister Mutahi Kagwe told reporters.

"We wish to assure all Kenyans that the government will use all the resources available to fight coronavirus," he said, as the government rolled out a raft of new containment measures.

The government had traced all the contacts of the patient since she arrived back in Kenya on March 5, he said.

"At the moment, there is absolutely no need for panic and worry," he said.

Kenya, with a population of 50 million people, saw a spree of panic buying among the middle-class in Nairobi supermarkets, in the wake of the announcement.

Meanwhile Ethiopia, Africa's second most populous nation with over 100 million people, said a 48-year-old Japanese man who had arrived in the country on March 4 from Burkina Faso was confirmed to have contracted the virus.

"He is undergoing medical follow-up and is in a stable condition. Those who have been in contact with this person are being traced and quarantined," the health ministry said in a statement.

Burkina Faso only confirmed its first case on Tuesday -- a couple returning from France -- and the Japanese patient had been in that country since February 24.

Ethiopian Health Minister Lia Tadesse said three other patients were in isolation.

Ethiopia becomes the 15 country in Africa with a confirmed case of the virus that has swept the globe, infecting more than 130,000 people and killing nearly 5,000 since it first emerged in China.

But to date the continent has been spared the worst of the pandemic.

Only five people have succumbed to coronavirus so far -- all in north Africa -- with the sub-Saharan region recording no deaths and very low numbers of confirmed cases.

But countries in East Africa -- which until the positive case in Kenya, had only recorded negative test results -- have been taking precautions.

Some flights have been restricted, with Kenya Airways suspending its route to Rome, and charter flights from Italy to the Kenyan coast on hold.

It has also suspended international conferences, a top earner in Nairobi, a hub for such events in the region, and non-essential travel abroad for politicians.

The government announced more expansive restrictions on Friday, including a temporary ban on major public gatherings, prison visits and activities between schools.

Other countries in the region have been rolling out their own measures.

In Rwanda, which shares a border with the Democratic Republic of Congo, which has confirmed cases, washing basins with soap and sanitiser have been placed on streets for commuters to use before boarding buses.

Authorities in Kigali, the capital, have also banned concerts, rallies and trade fairs -- although like in Kenya and Uganda, church services have been proceeding and bars, restaurants and entertainment precincts remain open.

Neighbouring Burundi, meanwhile, has quarantined 34 people in a hotel in Bujumbura as a precaution.

Uganda has ordered that visitors from a number of affected countries self quarantine for 14 days, or consider simply not visiting at all.

South Sudan's health ministry said meanwhile that it was "temporarily suspending direct flights between South Sudan and all affected countries".

Kagwe, the Kenyan health minister, also addressed a rumour circulating on social media that people with black skin cannot contract the virus.

"I would like to disabuse that notion. The lady (confirmed with coronavirus in Kenya) is an African, like you and I," he said.

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