The post Heavy market fall due to corona’s havoc… appeared first on The Edge Media.
]]>The impact of the rising outbreak of the corona pandemic is also seen on the stock market on Monday. With the opening of the stock market, the Sensex fell more than 1479 points. The reason for such a heavy fall in the stock market is due to the outcry caused by Corona in the whole country.
By the way, the heavy fall in the stock market was also recorded on Friday. The market closed at 49,591 on Friday, down 635 points on Monday, and opened at 48,956. With the opening of the stock market, Sensex declined sharply. At the same time, the Nifty had closed at 14,834 points in the previous session, it also opened with a loss of 268 points at 14644. In the beginning, the Nifty touched the highest level of 14652 points and the lowest level of 14384 points.
Heavy market fall
Corona epidemic is wreaking havoc all over the country right now. In the last 24 hours, there have been 1,68,912 new cases of corona infection in the country. The number of new infections is seems breaking old records every day. The situation in Maharashtra is worst. In the last 24 hours, more than 63,000 new cases have reported, while within 24 hours three and a half hundred people have lost their lives due to corona.
The way the situation is becoming uncontrollable due to Corona. The direct effect is now visible on the market. Given Corona, the fear of a possible lockdown is also adversely affecting the market.
The second wave of Coronavirus in the country has become unbridled. The havoc of Corona is fin the Supreme Court of the country. Because of this, all the judges of the top court will hear from their homes through video conferencing. Simultaneously, the work of sanitizing the court is going on.
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]]>The post HDFC Bank customers upset, online service disrupted appeared first on The Edge Media.
]]>Customers were facing problems
In this case HDFC Bank said that the problem has now been resolved. Some customers were experiencing intermittent problems in Net Banking, App Banking and Mobile Banking but now it has been fixed. He apologized for the inconvenience. However, the cause of the technical glitch has yet to be ascertained.
This is not the first time HDFC Bank’s online net banking facility has been hit. In the first bank, Internet banking, mobile banking, payment utilities have been interrupted many times. On November 21 last year, the bank’s internet banking and payment system disturbances came due to power failure. In this regard, the Reserve Bank imposed a fine of Rs 10 lakh on HDFC Bank.
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]]>The post RBI Governor Predicts Stable Growth Despite COVID-19 Surge appeared first on The Edge Media.
]]>The announcement assumes importance as India is currently witnessing a surge in COVID-19 cases and is deliberating over imposition of lockdowns and curfews in many cities.
Das was speaking at the 7th edition of the Times Network India Economic Conclave. He said, “Revival of economic activity should continue unabated and I don’t see a downward revision in the 10.5 percent growth estimate for FY22, which RBI had put out last month,” PTI reported. He added that despite the financial nerve-centre, Mumbai, seeing its highest single-day surge in cases on Wednesday, he did not foresee another nationwide lockdown.
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]]>The post Market erase all gains since Budget, close at 2-month lows,Here’s how experts see markets trading on Friday appeared first on The Edge Media.
]]>The March 2021 series turned out to be the worst since March 2020 in absolute terms and Sensex, Nifty & Nifty Bank post the biggest series fall in a year.
Among sectors, except for IT & FMCG, all sectoral indices give negative returns in March series.
Coal India, GAIL, ONGC, Hero Moto, Tata Motors top Nifty losers in March series while Grasim, Infosys, UltraTech Cement, JSW Steel, HCL were the top Nifty gainers in this series.
As for today’s fall, the market erased all the gains since budget, closed at nearly 2-mth lows; Sensex, Nifty & Midcap Index fell 2% each, Nifty Bank fell 1%.
BSE Companies erased market cap of more than Rs 4 lakh cr today.
The Sensex plunged 740 points, or 1.51% to 48,440, while the Nifty ended 224 points, or 1.5% lower at 14,324. Broader markets also fell for the day with the midcap and smallcap indices down over 2% each.
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]]>The post Government’s gift on Petrol-Diesel and liquor in the state will be cheaper from midnight appeared first on The Edge Media.
]]>| Assam latest news: The government’s decision is going to provide great relief to the common people in the state. The government is believed to have taken this decision keeping in view the state assembly elections. |
While petrol and diesel prices have increased everywhere , a state where these fuels are going to be cheaper from midnight tonight. Not only that, the state government is going to implement a major relief in the price of liquor from midnight tonight. Yes, we are talking about Assam here. In the midst of the fuel fire, the government is giving a gift to the people there. In fact, the Assam government has removed the additional cess of Rs 5 levied on petrol and diesel last year at the peak of the Covid-19 epidemic.
In addition, Assam Finance Minister Himanta Biswa Sarma said on Friday that 25 per cent additional cess on liquor has also been withdrawn. The new rates will come into effect from midnight tonight. The government’s decision is going to provide great relief to the common people in the state. The government is believed to have taken this decision keeping in view the state assembly elections.
According to news, the government’s decision will now make Assam the second state after Gujarat among the less expensive petrol states in the country. Not only that, the price of diesel will now be lower than himachal pradesh, Haryana and Uttar Pradesh in Assam.
Currently, the price of petrol in Assam is 90.41 per litre. After the latest verdict, the price will come down to 85.41 per litre, the lowest after Gujarat, where petrol is priced at Rs 85.30 per litre. After today’s decision, the price of diesel in Assam will come down from the current Rs 84.29 to Rs 79.29 per litre.
Sarma also said that the minimum wage amount of tea garden workers will also be increased by February 20. In addition, 9 new cancer hospitals will also start functioning in the state by September. Also, the minister said that the per capita income in the state has also increased from Rs 66,330 in 2016-17 to Rs 90,692 in 2019-20.
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]]>The post The way for Boeing’s 737 Max to resume flying has been cleared appeared first on The Edge Media.
]]>The decision ends a devastating saga for Boeing, which had predicted billion of dollars in losses stemming from the Max crisis even before the coronavirus pandemic dealt a ruinous blow to global aviation. The agency’s chief, Stephen Dickson, signed an orderWednesday formally lifting the grounding.
“The path that led us to this point was long and grueling, but we said from the start that we would take the time necessary to get this right,” he said in a video message“I am 100 percent comfortable with my family flying on it.”
The Max was grounded worldwide in March 2019 when the F.A.A. joined regulators in dozens of other countries in banning the plane after the crashes in Indonesia and Ethiopia killed all 346 people on board.
“We will never forget the lives lost in the two tragic accidents that led to the decision to suspend operations,” Boeing CEO David Calhoun said, in a statement released Wednesday morning. “These events and the lessons we have learned as a result have reshaped our company and further focused our attention on our core values of safety, quality and integrity.”
In September, an investigative report from the House of Representatives blamed the plane manufacture and the FAA for “repeated and serious failures.”
The crashes “were the horrific culmination of a series of faulty technical assumptions by Boeing’s engineers, a lack of transparency on the part of Boeing’s management, and grossly insufficient oversight by the FAA — the pernicious result of regulatory capture on the part of the FAA with respect to its responsibilities to perform robust oversight of Boeing and to ensure the safety of the flying public,”the congressional report says
Boeing said in a statement after the report’s release that it is “dedicated to doing the work” necessary.
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]]>The post Sensex and Nifty were between gains and losses on Wednesday. appeared first on The Edge Media.
]]>The Reserve Bank of India placed Lakshmi Vilas Bank under a one-month moratorium and initiated a merger of the Chennai-based lender with DBS Bank India on Tuesday. The troubled lender was under stress for a long time now and RBI’s decision comes as it said there was no credible revival plan. The proposed merger with DBS will include a capital infusion of Rs 2,500 crore into Lakshmi Vilas Bank. According to the Draft scheme of Amalgamation, the entire amount of the paid-up share capital of Lakshmi Vilas Bank will be written off.
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]]>The post India’s recession for the first time in history! Know what this means? appeared first on The Edge Media.
]]>According to some officials of the Reserve Bank of India, for the first time in the history of India, there has been a recession. According to their report, GDP is negative in the second quarter too. Let’s know what it means and why it is a matter of great concern?
According to a research by Reserve Bank officials, India’s GDP growth in the July-September quarter has been 8.6 per cent, which means the GDP has fallen by 8.6 per cent. However this is not an official figure and the figures are yet to be released by the government. Earlier in the first quarter of this financial year, there was a huge decline of about 24 percent in GDP.
The condition of the economy has deteriorated due to lockdown due to Corona crisis. However, it has now shown signs of improvement and the Finance Ministry says that GDP growth could be positive in the third quarter.
As soon as this news comes, the leaders of the opposition including Rahul Gandhi have started attacking the Modi government and it is being told the result of the weakness of the government.
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]]>The post Businesses will get 2 lakh crore Diwali gift from the government, 10 sectors will get PLI benefits appeared first on The Edge Media.
]]>Finance Minister Nirmala Sitharaman informed the cabinet decision that the government will spend Rs 2 lakh crore in the next five years to provide production-based incentives to 10 sectors and to fund the viability gap funding of infrastructure projects.
He said that this will create jobs, support emerging sector and promote self-reliant India. Significantly, to give relief to the people and industry of the country troubled by Corona, the government is constantly giving relief packages. This can be called another relief package.
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