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

New Delhi, Feb 29: Amid the raging communal violence in the entire north-east Delhi earlier this week, there were people who were trying to save persons and families from the "other community" from the fury of the mobs of their own community.

Naeem Ali Pradhan, 34, from Shiv Vihar, helped at least 7-8 Hindus on the night of February 24 -- when the violence was at its peak-- escape to safer locations. Shiv Vihar is one of the worst affected areas in the violence.

According to Naeem Ali, that night mobs attacked dozens of shops on the road and later tried to enter inside the residential areas.

Suddenly, he spotted a group of youth who were looking hassled and frantically asking for directions.

"I saw them. Thye were Hindus who were trying to escape a mob looking to target them. They had lost their way inside the streets of our colony. I along with other Muslim men escorted them to the nearby Hindu locality," Naeem, who is also a member of the Aman Committee constituted by the Delhi police, told ANI.

"Several shops which were on the roads including some showrooms were attacked by a group. These Hindus were worried as a mob which was on the main road was attacking people. They asked me the address of a colony as they were unable to find their way," Naeem said.

Hong Kong, Apr 20: Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States.

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below 15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home.

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up.

ANZ said "crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment".

"Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil," it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners.

And AxiCorp's Stephen Innes added: "It's a dump at all cost as no one... wants delivery of oil, with Cushing storage facilities filling by the minute.

"It hasn't taken long for the market to recognise that the OPEC+ deal will not, in its present form, be enough to balance oil markets." Stock traders were in slightly more buoyant mood as governments start to consider how and when to ease lockdowns that have crippled the global economy.

Italy, Spain, France and Britain reported drops in daily death tolls and slowing infection rates.

"We are scoring points against the epidemic," said Prime Minister Edouard Philippe, while insisting "we are not out of the health crisis yet".

Meanwhile, in the US, Andrew Cuomo, governor of badly hit New York state, said the disease was "on the descent", though he cautioned it was "no time to get cocky".

Mounting evidence suggests that the lockdowns and social distancing are slowing the spread of the virus.

That has intensified planning in many countries to begin loosening curbs on movement and easing the crushing pressure on national economies.

Adding to the sense of hope was a report indicating promising research on a drug to treat coronavirus.

Hong Kong, Shanghai and Seoul were each up 0.1 percent, while Wellington added 0.4 percent.

However, Tokyo went into the break 0.9 percent lower, while Sydney and Manila dropped one percent apiece. There were also losses in Taipei, Singapore and Jakarta.

"The longer investors have to contemplate future economic issues while they wait for more countries to be on the downward slope of the pandemic curve, the more scope there is of risk assets pricing in a difficult future," Chris Iggo, of AXA Investment Managers UK, said.

Investors are keeping an eye on Washington, where Congress and the White House are working towards a 450 billion economic relief plan for small business to add to the trillions already pledged to support the economy.

Big-name companies including IBM, Netflix and Coca-Cola are due to deliver their earnings reports.

Bengaluru, May 27: Karnataka Chief Minister Yediyurappa on Wednesday said that his government will re-open temples, mosques and churches in the state after May 31.

"We are going to open temples, mosques and churches in the state after May 31, he said while speaking to media in Bengaluru.

The Chief Minister added that the "guidelines will be followed" as suggested by experts for opening the worship places.

"We have no objections to open malls and cinema halls, but we are waiting for the guidelines of the central government, Prime Minister will take decisions to allow malls and cinemas to open," he added.

Yediyurappa has said that people from Gujarat, Maharashtra, Kerala and Tamil Nadu will not be allowed in the state till May 31.