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Hello Jammu News at 10:48:00 PM 6


Mumbai, Apr 15 :  Bollywood superstar Shah Rukh Khan will join artistes from around the world for a virtual event to support healthcare workers who are battling it out against the coronavirus pandemic.

The actor took to Twitter on Tuesday to announce his participation in the One World: Together At Home', a virtual concert organised by the World Health Organization (WHO) and international advocacy organisation Global Citizen.

Curated by pop star Lady Gaga, the concert will stream on April 18 on multiple global platforms such as Facebook, Instagram, Alibaba, Amazon Prime Video, Apple.

"Health care workers on the frontlines of the #COVID19 crisis need our support. That's why I'm standing in solidarity with @glblctzn and @WHO for One World: #TogetherAtHome a one-night special event on April 18," Shah Rukh wrote on Twitter.

The special event, 'One World: Together At Home' will see performances from Gaga, Adam Lambert, Billie Joe Armstrong, Camila Cabello, Chris Martin, David and Victoria Beckham, Ellen DeGeneres, Idris and Sabrina Elba, Jennifer Lopez, Jennifer Hudson, Lilly Singh, Oprah Winfrey, Paul McCartney, Priyanka Chopra Jonas, Taylor Swift, Vishal Mishra among others.

Like many film personalities, Shah Rukh has been doing his bit to contribute to fight against the COVID-19 pandemic.

On Monday, the star provided 25,000 kits of personal protective equipment (PPE) kits to the frontline medical staff in Maharashtra fighting to contain the novel coronavirus pandemic in the state. He has committed to donate the same to West Bengal.

Recently, he, along with wife Gauri Khan, offered their four-storey personal office space for treating COVID-19 patients.

The 54-year-old superstar had earlier announced various initiatives to help the country during the health crisis.

According to the Union health ministry, the death toll due to COVID-19 climbed to 377, while the number of cases in the country rose to 11,439.
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Hello Jammu News at 8:18:00 PM 0


Mumbai, Apr 12 :  Actor Ajay Devgn on Sunday said he is "disgusted" over reports of healthcare workers being attacked by people at a time when the country is fighting the coronavirus pandemic.

The "Tanhaji: The Unsung Warrior" star's reaction comes weeks after several Bollywood stars condemned gruesome incidents of physical assault and stone pelting at doctors and other frontliners who are managing the COVID-19 outbreak in different parts of the country.

"Disgusted and angry to read reports of 'educated' persons attacking doctors in their neighbourhood on baseless assumptions. Such insensitive people are the worst criminals. #StaySafeStayHome #IndiaFightsCorona," Ajay wrote on Twitter.

Bollywood personalities including Rishi Kapoor, Javed Akhtar, Hema Malini, Paresh Rawal among others have expressed their discomfort over the attacks on healthcare workers in the past.

India is currently under the lockdown with around 1.3 billion people asked to stay home in view of the coronavirus outbreak, which has infected over 8,000 people and claimed 273 lives in the country.
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Hello Jammu News at 11:19:00 PM 0


Mumbai, Apr 1 :  Equity benchmark Sensex slumped over 700 points in early trade on Wednesday tracking losses in index heavyweights Reliance Industries, Kotak Bank, HDFC Bank and Infosys amid weak cues from global markets.

Starting the new financial year on a negative note, the 30-share BSE barometer was trading 714.74 points or 2.43 per cent lower at 28,753.75.

Similarly, the NSE Nifty fell 199 points, or 2.31 per cent, to 8,398.75.

Kotak Bank was the top loser in the Sensex pack, cracking up to 8 per cent, followed by SBI, Infosys, HDFC Bank, Tech Mahindra and UltraTech Cement.

On the other hand, IndusInd Bank and PowerGrid were the gainers.

In the previous session, the Sensex closed the financial year 2019-20 higher by 1,028.17 points or 3.62 per cent at 29,468.49. The Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75.

However, during the fiscal, the Sensex plunged 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.

Foreign institutional investors (FIIs) turned net sellers in the capital market, as they offloaded equity shares worth Rs 3,044.94 crore on Tuesday, according to provisional exchange data.

According to S Hariharan, Head - Sales Trading, Emkay Global Financial Services: For the month of April, macro risk appetite driven by news flow around potential peaking of fresh COVID-19 cases would be the key driving force for foreign flows, while domestic funds continue to use the correction to increase equities allocation in dynamic asset allocation funds.

On the global front, bourses in Hong Kong, Tokyo and Seoul were in the red, while those in Shanghai were trading on a positive note. Benchmark exchanges on Wall Street too ended with losses in overnight trade.

Brent crude futures, the global oil benchmark, fell 0.76 per cent to USD 26.15 per barrel.

The number of COVID-19 cases in India has stood at around 1,400, according to health ministry log. While there are more than 1,200 active cases, over 100 have been cured.

Deaths around the world linked to the pandemic crossed have 40,000.
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Hello Jammu News at 11:04:00 PM 0


Mumbai, Apr 1 :  Prime Minister Narendra Modi on Wednesday discussed the coronavirus situation in Maharashtra -- which has the highest number of cases in the country -- with Chief Minister Uddhav Thackeray on phone.

Maharashtra has recorded 335 cases of coronavirus so far.

State officials said the prime minister urged Thackerayto step up "tracing, testing and treatment" of the persons who arrived in Mumbai and rest of the state after attending Tablighi Jamaat meet in New Delhi last month.

The congregation in Nizamuddin area of the national capital was later found to have been a hotspot of coronavirus.

The PM will hold a video conference with all the chief ministers on Thursday.
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Hello Jammu News at 10:53:00 PM 0


Mumbai, Mar 31 :  Equity indices notched up smart gains on the last day of 2019-20 on Tuesday, but ended deep in the red for the fiscal as the global coronavirus pandemic triggered record-shattering selloffs in March.

The 30-share BSE Sensex traded in the positive zone throughout the session, ending 1,028.17 points or 3.62 per cent higher at 29,468.49 on across-the-board buying.

Similarly, the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75.

During the financial year 2019-20, the Sensex plunged 9,204.42 points or 23.80 per cent, while the Nifty sank 3,026.15 points or 26.03 per cent.

Both the benchmarks posted their biggest ever one-day falls in March, in tandem with other global markets, as investors fled risky assets amid the Covid-19 outbreak.

ITC was the top gainer in the Sensex pack on Tuesday, rallying 7.84 per cent, followed by index heavyweight Reliance Industries, ONGC, Tata Steel, Tech Mahindra, Sun Pharma and SBI.

Only four index components closed with losses -- IndusInd Bank (14.68 per cent), Maruti (1.23 per cent), Bajaj Finance (1.17 per cent) and Titan (1.13 per cent).

According to traders, domestic investors turned positive amid rebound in global peers as most Asian benchmarks ended higher on recovery in China's manufacturing during March as authorities relaxed anti-disease controls and allowed factories to reopen.

China's manufacturing PMI rose to 52 in March from a record-low of 35.7 in February.

"Mirroring positive global market, Indian markets also reacted positively on the last day of the financial year. Almost all sectoral indices were up and volatility index was also down by 10 per cent.

"Chinese economic data... improved and helped the global momentum, especially in Metals, Pharma and FMCG. FII selling also slowed down over the last two days, although that may not be sustainable. The performance of global market will be the key driver for Indian market in the near-term," said Vinod Nair, Head of Research at Geojit Financial Services.

All sectoral indices ended on a positive note, with BSE oil and gas, energy, FMCG, metal, healthcare, IT and finance rallying up to 8.72 per cent.

Broader BSE midcap and smallcap indices climbed up to 2.98 per cent.

Bourses in Shanghai, Hong Kong and Seoul ended up to 2 per cent higher, while Tokyo closed in the red.

Stocks in Europe were also trading on a positive note in early deals.

International oil benchmark Brent crude rose 3.60 per cent to USD 27.37 per barrel in futures trade.

On the currency front, the rupee appreciated marginally to 75.54 against the US dollar in intra-day trade.

The number of Covid-19 cases in India surged past 1,200, according to the health ministry. While there are more than 1,100 active cases, nearly 100 people have recovered.

Deaths around the world linked to the pandemic have crossed 37,000.
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Hello Jammu News at 5:52:00 PM 0



Mumbai, Mar 29 :  Kalyan Jewellers has said it will set aside Rs 10 crore towards fighting the COVID-19 (coronavirus) pandemic.

The company will partner with local and government bodies to ensure that the funds are allocated in a meaningful and efficient manner, ensuring availability of supplies and providing food and other essentials to the vulnerable sections of society, Kalyan Jewellers said in a statement on Saturday.

"The situation created by COVID-19, and the tremendous impact that the pandemic has had on humanity globally, is unprecedented. These have proved to be very challenging times, and our Central and state governments are doing everything they can to combat this," Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman said.

"We understand the magnitude of this crisis, and would like to extend our humble contribution of Rs 10 crore towards the fight against COVID-19," he said.

Early last week, Kalyanaraman, in a letter addressed to employees of Kalyan Jewellers, had said that there would be no salary cuts in non-operational showrooms.

The company also committed to pay full salaries for March and April to all of its over 8,000 employees, regardless of the impact on Kalyan Jewellers' overall business.
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Hello Jammu News at 7:56:00 PM 0


Mumbai, Mar 27 :  The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.
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Hello Jammu News at 8:41:00 PM 0


Mumbai, Mar 26 :  Equity benchmark Sensex jumped over 700 points in opening session on Thursday led by gains in HDFC twins, Infosys, ICICI Bank and Axis Bank amid mixed global cues.

The 30-share BSE barometer was trading 713.76 points or 2.30 per cent higher at 29,249.54.

Similarly, the NSE Nifty was up 167.95 points, or 2.02 per cent, at 8,485.80.

IndusInd Bank was the top gainer in the Sensex pack, rallying up to 20 per cent, followed by Axis Bank, Bajaj Auto, ICICI Bank, HDFC and Bajaj Finance. On the other hand, ITC, Maruti and ONGC were the top losers.

In the previous session, the BSE gauge Sensex shot up 1,861.75 points or 6.98 per cent to settle at 28,535.78, and the NSE barometer Nifty spurted 516.80 points or 6.62 per cent to end at 8,317.85 the biggest single-day gain for the indices.

According to traders, investors are weighing the economic impact of the 21-day lockdown in the country.

All eyes are Finance Minister Nirmala Sitharaman's economic package to cushion the economic impact of the lockdown to curb the spread of Covid-19, expected to be announced shortly, they said.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a mixed note.

Stocks on Wall Street ended with firm gains in overnight trade.

Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold equity shares worth Rs 1,893.36 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.51 per cent to USD 27.25 per barrel.

The number of deaths around the world linked to the new coronavirus has crossed over 21,000. In India, more than 600 coronavirus cases have been reported so far.
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Hello Jammu News at 10:25:00 PM 0


Mumbai, Mar 25 :  Equity benchmark Sensex jumped over 600 points in opening session on Wednesday after the government took drastic measures to combat Covid-19 outbreak with Prime Minister Narendra Modi announcing a complete lockdown of the country for 21 days.

Asian peers were also trading higher as authorities world over stepped up efforts to fight the pandemic.

However, concerns over the impact of worldwide lockdowns kept investors on edge, traders said.

After rallying 625.41 points, the BSE barometer gave up all gains to trade 157.91 points or 0.59 per cent lower at 26,516.12.

Similarly, the NSE Nifty was trading 30.30 points, or 0.39 per cent, down at 7,770.75.

Reliance Industries was the top gainer in the Sensex pack, rallying up to 7 per cent, followed by Nestle India, Tech Mahindra, HDFC, PowerGrid and HUL. On the other hand, IndusInd Bank, ITC, L&T and ICICI Bank were the top losers.

In the previous session, the BSE benchmark closed 692.79 points or 2.67 per cent higher at 26,674.03, after a highly volatile trading session. Likewise, the NSE barometer settled 190.80 points, or 2.51 per cent, up at 7,801.05.

According to traders, investors are weighing the economic impact of the 21-day lockdown announced last night. In an unprecedented drastic measure to curb the spread of coronavirus, Modi said the lockdown will be in force from Tuesday midnight, as he announced a central allocation of Rs 15,000 crore to strengthen the health infrastructure to tackle the disease.

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, enforcement of the 21-day lockdown of the nation will be a major challenge. Ensuring supplies to all households is not going to be easy, but has to be done. The temporary shock to the economy will be huge.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 5 per cent.

Stocks on Wall Street rallied up to 11 per cent in overnight trade.

Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 2,153.35 crore on Tuesday, data available with stock exchanges showed.

Global oil benchmark, Brent crude futures rose 2.43 per cent to USD 27.81 per barrel.

The total number of active Covid-19 cases in India stood at 512 on Wednesday morning, as per health ministry log.

The number of global Covid-19 infections has shot past 4,20,000. Worldwide fatalities have topped 18,000.
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Hello Jammu News at 8:32:00 PM 0


Mumbai, Mar 24 :  The Reserve Bank, which has been snapping up greenbacks in the past two years, has also been lapping up US treasury bills and the holdings touched a record high in January.

The holdings rose by more than USD 2 billion between December 2019 and January 2020.

At USD 164.3 billion, the Reserve Bank's US treasury holdings is at an all-time high, show the latest data from the US Treasury Department.

The love for dollars and other US government assets began with the collapse of the gold standard or the Bretton Woods principles in the late 1970s and central banks moved to the fractional reserves system. Since then, the US dollar/T-bills have been the safest asset class for any central bank, despite getting one of the lowest returns.

While during the 2008 global credit crisis the return had been close to zero, the coronavirus pandemic has also yanked down the interest rates in the US to 0-0.25 per cent now and so will be the return on investments.

But for central banks, return is not the priority but safety and liquidity of their investments are.

Central banks, including the Reserve Bank of India (RBI), follow the principle of SLR (Safety, Liquidity and Return) for their investment decisions. Like its counterparts in other countries, RBI follows the safety first, liquidity second approach and return on their investment is only the third criteria.

According to the latest data released by the US Treasury, RBI raised its US bond holdings to USD 164.3 billion at the end of January this year, up 13 per cent from USD 144.9 billion a year ago. In December, the holdings were at USD 162 billion.

RBI purchases these bonds on behalf of India. The US Treasury Department releases foreign holdings data on a country-wise basis.

With the holdings worth USD 164.3 billion, India was the 13th largest investor in the American treasury bills after Japan (USD 1.21 trillion), China (USD 1.07 trillion) and the UK (USD 372.7 billion).

Even the Cayman Islands is way ahead with holdings of USD 216.1 billion while Saudi Arabia is just ahead of India with USD 182.9 billion worth holdings.

According to an analyst, one of the major reasons for this massive spike in a month could be the exodus of foreign funds from the country since the beginning of the year. Overseas funds pulled out over Rs 1.13 lakh crore from equities and debt in the Indian market amid the coronavirus scare as they are taking refuge in US assets.

And the way RBI has been lapping up US assets, its clear that the central bank is also chasing safer assets, the analyst said.

In a recent report, Bank of America Securities said RBI has a strong dollar arsenal to defend the rupee with a USD 30 billion fire power.

In March, RBI has done two tranches of dollar-rupee swaps of USD 2 billion each as the rupee was plumbing new lows every day. It has promised to sell more dollars to defend the rupee -- something the central bank is doing for the first time openly.

This had the forex reserves falling for the first time in 25 weeks. For the week to March 13, the forex reserves plunged by USD 5.35 billion to USD 481.89 billion. In the week before, the forex kitty was at an all-time high of USD 487.23 billion.
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Hello Jammu News at 6:55:00 PM 0


Mumbai, Mar 24 :  As more and more people work from home due to the coronavirus quarantine, Amazon has made a number of its kids and family content available free to watch on Prime Video.

Shows such as "Pete the Cat", "Baahubali: The Lost Legends", "Just Add Magic" Magic", "The Stinky Dirty Show", nursery rhymes and stories of 'Chhota Bheem' are available for free for Indian viewers.

Viewers don't need a Prime account but they still need to set up an account on Amazon to access the contemunt, a release from the company said.
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Hello Jammu News at 4:25:00 PM 0


Mumbai, Mar 24 :  Maharashtra Governor Bhagat Singh Koshyari on Tuesday asked people to celebrate Gudi Padwa, which marks the beginning of New Year in the state, indoors due to the novel coronavirus outbreak.

The number of COVID-19 patients in the state stood at 101 as on Tuesday.

"Even as we are readying to celebrate Gudi Padwa and welcome the New Year, the state is passing through an unprecedented situation. The government is doing all that is required to tackle the situation. However the success of the efforts by the government depends on the complete cooperation from the people. I therefore appeal to the people to extend full cooperation to the government in tackling the situation," Koshyari said.

"Stay at home and be safe! May the New Year bring happiness, contentment, good health and prosperity to all. I also take this opportunity to extend my warm greetings to the people on Ugadi, Cheti Chand and Samsar Padvo," he said on his message.
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Hello Jammu News at 3:38:00 PM 0


Mumbai, Mar 24 :  Equity benchmark Sensex recovered over 1,400 points in opening session on Tuesday tracking gains in Asian peers after US Federal Reserve announced limitless bond-buying programme to support the US economy.

Investor sentiment in Asia improved in anticipation of a revival in demand from the economic giant, traders said.

After rallying 1,481.63 points, the BSE barometer gave up some gains to trade 443.27 points or 1.71 per cent higher at 26,424.51.

Similarly, the NSE Nifty was trading 165.55 points, or 2.18 per cent, up at 7,775.80.

Top losers in the Sensex pack included IndusInd Bank, Titan, L&T, Tata Steel, Asian Paint and ICICI Bank, while HCL Tech, HUL, Infosys and Tech Mahindra were the gainers.

In the previous session, the BSE benchmark plummeted 3,935 points or 13. 15 per cent to close at 25,981.24, while the NSE barometer Nifty cracked 1,135.20 points or 12.98 per cent to settle at 7,610.25.

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the US Fed is now leading from the front with its historic package which includes open-ended purchase of securities, direct loans to companies, purchase of corporate bonds, lending against student loans and credit card loans.

The Federal Reserve announced it will buy unlimited amounts of US Treasury debt -- essentially printing money for the economy -- as well as new steps to lend directly to small- and medium-sized companies that have been among the hardest-hit as economic activity dries up.

This comprehensive package for the wall street and the main street is unprecedented and gives the message that the world's largest central bank will do whatever it takes to mitigate the economic crisis.

Other central banks can be expected to follow suit with bold measures to ease the severely strained credit and financial markets, he said.

A major package from the government of India and the Reserve Bank can be expected shortly, he stated, adding that the market is likely to remain hugely volatile with rising possibility of V shaped recovery occasionally.

However, the calamity facing humanity is enormous," he said.

As per traders, extreme lockdown measures taken by the government of India and authorities across the world has put immense pressure in investor sentiment.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 7 per cent.

Stocks on Wall Street, however, ended with losses after Fed announcement.

Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 2,989.29 crore on Monday, data available with stock exchanges showed.

Meanwhile, the rupee appreciated 15 paise against the US dollar to 76.05 (intra-day).

Global crude benchmark, Brent crude futures rose 2.96 per cent to USD 27.83 per barrel.

The total number of Covid-19 cases in India stood at 492 on Tuesday morning, as per health ministry log.

As cases of the viral infection surged in the past few days, authorities have put almost the entire country under lockdown, banning gathering of people and suspending road, rail and air traffic till March 31.

The number of global Covid-19 infections has shot past 3,80,000. Worldwide fatalities topped 16,500.
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Hello Jammu News at 10:38:00 PM 0


Mumbai, Mar 23 :  Megastar Amitabh Bachchan on Monday was heavily criticised for one of his tweets, which claimed vibrations from clapping, blowing conch shells as part of Sunday's Janata Curfew would have reduced or destroyed coronavirus potency as it was 'amavasya', the darkest day of the month.

Bachchan's tweet comes in the wake of several similar fake news stories misinterpreting Prime Minister Narendra Modi's appeal of clapping and clanging plates to express gratitude to those providing essential services during this global health crisis.

The 77-year-old actor took to Twitter and, in a tweet that has now been deleted, wrote, "An opinion given: 5 PM, 22nd Mar, 'amavasya', darkest day of month; virus, bacteria evil force at max potential & power! Clapping shankh vibrations reduce/ destroy virus potency Moon passing to new 'nakshatra' Revati.

cumulative vibration betters blood circulation."

Bachchan posted the tweet along with his picture, which had three question marks scribbled on it, leading many to wonder if the actor was sharing his opinion or questioning the theory floating on social media.

However, his tweet was met with criticism as netizens slammed him for tweeting something which was not factual.

On Sunday, even the Press Information Bureau busted the viral fake claim, writing, "NO! The vibration generated by clapping together will NOT destroy #Coronavirus infection."

Lyricist Varun Grover was among the first ones to slam Bachchan, writing that the actor should've been more responsible at a time like this.



"Shameful superstitions propaganda coming from a person with such huge reach. And we have learned to let go of 'besharmi' (shamelessness) of many of our celebs but this is DANGEROUS too. Indian lives are at stake here and you need to be more responsible," Grover tweeted.

Bachchan is one of the most active and followed celebrities on social media. His followers count on Twitter alone stands at a staggering 40.5 million.

A Twitter user wrote that it's painful when a respected opinion leader like him resorts to forwarding such opinions.

"I feel intense pain. Please only spread very scientific and medical views - people will promptly abide by you. They have so much faith in you. Please," the user wrote.

Bachchan's tweet was also slammed by many journalists, lawyers and activists, who asked people to "mass report the tweet" so that's it's taken down by the microblogging site for spreading misinformation.

Recently, Twitter removed a video uploaded by actor-turned-politician Rajinikanth who claimed the 14-hour window of total social distancing as advised by the PM was necessary to curb the spread of virus.

The video was reportedly pulled down as it violated Twitter's rules on misinformation.

According to the Union Health Ministry, the total number of confirmed coronavirus cases in the country rose to 415 on Monday. Seven people had died till Saturday evening due to the virus.
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Hello Jammu News at 10:32:00 PM 0


Mumbai, Mar 23 :  The Indian stock market suffered worst-ever single-day crash on Monday, with the benchmark indices plunging as much as 13.15 per cent, as panicked investors remained in sell-off mode amid lockdowns in several states in the country due to mounting coronavirus cases.

The BSE benchmark Sensex plummetted 3,935 points or 13. 15 per cent to close at 25,981.24; while the NSE barometer Nifty cracked 1,135.20 points or 12.98 per cent to settle at 7,610.25.

On the currency front, the Indian rupee plunged below the 76-level (intra-day) for the first time.

In the very first hour of trade on Monday, trading on the BSE and the NSE had to be halted after the benchmark indices Sensex and Nifty hit the 10 per cent lower circuit breaker.

As trading resumed after a 45-minute freeze, losses widened on bourses due to unabated sell-offs across sectors.

Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of Covid-19 pandemic, spiking fears of a mammoth global recession.

On the Sensex chart, Axis Bank was the top loser, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T.

All sectoral indices ended significantly lower, with BSE bankex, finance, capital goods, basic materials, industrials and auto indices plunging up to 16.82 per cent.

Broader midcap and smallcap indices tanked over 12 per cent each.

"With the spread of Covid-19 continuing unabated and the fears of global recession increasing, the Indian markets crashed. The markets closed much lower in percentage terms compared to the Asian and European markets, which indicated increased uncertainty regarding the spread of the virus in India after the government indicated that the country was in a crucial phase in its fight against the virus, Vinod Nair, Head of Research at Geojit Financial Services, said.

Further measures and lockdowns are expected after manufacturing companies indicated that they would shut down their facilities, which would have an overall impact on business activity and market confidence, he added.

The central and state governments on Sunday announced lockdown in about 80 districts in the country where at least one confirmed case of COVID-19 was reported.

The districts where lockdown was announced include 10 districts each in Maharashtra and Kerala, six districts each in Uttar Pradesh and Gujarat, five each in Karnataka and Haryana, three each in Tamil Nadu and Punjab.

Meanwhile, S&P Global Ratings on Monday cut its estimate for India's GDP growth for the next fiscal to 5.2 per cent from its earlier estimate of 6.5 per cent, which further worsened the market sentiment that has been already reeling under the coronavirus spread.

In the global market, bourses in China, Hong Kong and South Korea plunged up to 5 per cent, while those in Japan ended on a positive note. Bourses in Europe sank up to 4 per cent.

Meanwhile, Brent crude oil futures dropped 5.30 per cent to USD 25.55 per barrel.

The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000.

Cases in India spiked to 415, according to Health Ministry log.
Read more »

Hello Jammu News at 7:35:00 PM 0


Mumbai, Mar 22 :  Superstar Salman Khan on Sunday appealed to his fans to take the risk of coronavirus seriously and follow the government's call for observing social distancing.

In a video posted on Instagram, the 54-year-old actor started by lauding all those who are fighting the battle against COVID-19.

He urged people to follow the government advisories, saying people are mistaken if they think they cannot contract coronavirus.

"I want to appeal to everyone that the government is asking something, so please take it seriously and don't spread rumours. It is a problem with everyone for a long time that they believe it will not happen to them. Anyone can get infected with the coronavirus, be it in bus, train or in market place. So why do you want to take that risk," Salman said.

He asked people to not treat the lockdown as a public holiday and appealed to them to stay indoors.

"This is not a public holiday, it is a very serious matter. Stop doing all this and start wearing masks to protect yourself. Wash your hands regularly, keep yourself clean and maintain a distance from others.

"What is the problem in doing all this. If it saves countless lives, including your own, then why are you not doing it. Please do this as it is a matter of life and death. This is my request to all of you," the superstar said.

The country is observing a 14-hour Janata Curfew on Sunday, as appealed by Prime Minister Narendra Modi.

The PM made a fervent appeal to all Indians to stay indoors as much as possible to avoid getting infected by coronavirus and called for the curfew on March 22 from 7 am-9 pm, saying no citizen, barring those in essential services, should get out of the house.

Celebrities such as Amitabh Bachchan, Shah Rukh Khan, Karan Johar, Akshay Kumar, Ayushmann Khurrana, Hrithik Roshan among others had previously applauded PM's statement on Janta Curfew.

Meanwhile, Ajay Devgn also shared a video message where he asked people to defeat the "biggest villain" -- coronavirus.

"Every film has two kinds of characters one hero and one villain.In real life also, you will find many such characters. Today, not just for India but for the whole world, the biggest villain is coronavirus. The biggest heroes are those battling this virus.

"There many people like cleaners and alert citizens who are playing supporting roles in this battle. But the most interesting thing is that we are the casting director of this movie. It is in our hands whether we want to become hero or villain. Hands clean, then you're a hero. Hands dirty, then you're a villain," Ajay said.

The actor lauded the government, the authorities and the police for their efforts towards safeguarding the lives of the people.

"We just have to give support to them. So support them and take care of yourself. Do not go out of your house without any reason. Stay away from crowd. Do not let coronavirus survive. Climax is fun when the villain dies," Ajay added.
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Hello Jammu News at 7:04:00 PM 0


Mumbai, Mar 22 :  The total number of coronavirus positive patients in Maharashtra has risen to 74 with 10 more positive cases reported in the last 24 hours, officials said.

Of the 10 new cases, 6 are in Mumbai and 4 in Pune, they said on Sunday.

Earlier this week, a Covid-19 patient died in Mumbai.
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Hello Jammu News at 10:45:00 PM 0
Reserve Bank Of India


Mumbai, Feb 3 :  Amid slowing GDP growth and rising inflation, the Reserve Bank of India (RBI) will unveil its last monetary policy for the current financial year on Thursday.

The sixth bi-monthly monetary policy statement for 2019-20 would be the last one for the current financial year.

The Monetary Policy Committee (MPC) will meet during February 4-6 for the policy review, the RBI said in a release on Monday.

The RBI said it will place the resolution of the MPC on its website before noon on February 6.

The government has estimated India's gross domestic product (GDP) to be growing at a slower pace of 5 per cent in the current financial year on the back of various factors, domestic and global, including weakening consumption demand in the country.

In December, the retail inflation also peaked to a five-year high of 7.3 per cent, mainly due to costlier vegetables, specifically onion and tomato.

The Economic Survey 2019-20 has projected the Indian economy to grow at around 6-6.5 per cent in the next financial year beginning April 2020.

"With fiscal policy taking a growth-supportive role, on the back of monetary policy being ahead of the curve last year, the calibrated policy mix should bode well for growth.

"We look for the central bank to remain on an extended pause on rates (even as supply-induced shocks dissipate) but maintain an accommodative bias to ensure cost of capital remains stable and favourable," Radhika Rao, senior vice-president and economist, DBS Group Research, said.

Crisil Ratings in its post-Union Budget 2020-21 comment has said, "Monetary policy has done its bit, but with moderate and slow success."

It added that the RBI cut the repo rate cumulatively by 135 basis points (bps) through calendar 2019, but lending rates tarried with just nearly 50-bps decline. "Even as credit demand has fallen, risk aversion and weak sentiment have affected the willingness to supply credit, too."

In its previous monetary policy review in December, the RBI had decided for a status quo, leaving the key repo -- the rate at which it lends to banks -- at 5.15 per cent.
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Hello Jammu News at 9:29:00 PM 0
Budget


Mumbai, Feb 1 :  The ruling Shiv Sena, NCP and Congress on Saturday termed as "disappointing" the Union budget, claiming that it did not offer much to the "highest tax-payers" Mumbai and Maharashtra.

Opposition BJP in Maharashtra hailed the Budget 2020- 21, saying it strengthens the economy and makes provision for the welfare of all.

"The budget has left Maharashtra and Mumbai the most disappointed. Mumbai gives highest tax, Maharashtra gives highest tax to the Centre, but they were completely ignored," Revenue Minister and state Congress chief Balasaheb Thorat told reporters here.

The budget presented by Union finance minister Nirmala Sitharaman was "old wine in new bottle", he said.

Thorat also questioned the Union government's claim that farmers' income would be doubled by 2022.

The agricultural growth rate should be 11 per cent to achieve this goal, while the current rate is not moving beyond 2 per cent, the Congress leader said.

NCP MP Supriya Sule said, "Sensex plunged when the budget was being presented in the House. It shows the budget makes no sense."

The Budget has introduced new slabs and reduced the income tax rate for different slabs for individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions.

Referring to it, Shiv Sena spokesperson Manisha Kayande said there was no clarity about the option offered.

"Who would not like to get a tax benefit? If a person is investing in LIC or mediclaim, why would the person not opt for tax benefit? People basically make these investments for tax benefit apart from getting insurance (cover). So there is no clarity on this," she said.

The Sena leader also expressed concern over "closing down" of government-owned enterprises like Air India.

"It is a major drawback. Plus, they are banking completely on LIC. Almost 290 million people invest in LIC.

That means the government is eying public money," she added.

Water Resources Minister and NCP leader Jayant Patil said the budget offers nothing to give a momentum to the economy.

"Farmers too have got nothing from the budget...the budget is mere 'jumlebaazi' (gimmick)," the former Maharashtra finance minister said.

NCP spokesperson Mahesh Tapase accused the government of "over-commitment and under-delivery" leading to loss of faith of investors, industry and consumers.

Tapase said the current gross GDP figures do not support the government's claim about the target of USD 5 trillion economy.

Former Maharashtra chief minister Ashok Chavan said the budget ignores the burning issue of unemployment and the Union government was making no effort to increase purchasing power of the poor and middle classes.

BJP leader and former chief minister Devendra Fadnavis hailed the budget as "progressive and reform-oriented", saying it lays the foundation of a "new India".

"The 2020 #JanJanKaBudget lays the foundation for the journey of Bharat to Navbharat in this new decade, of an even more developed and modern India with a greater speed ! Kisan Rail, Krishi UDAN are path breaking steps for our farmers and will fulfill the ASPIRATIONS of INDIA!" Fadnavis tweeted.

Maharashtra BJP chief Chandrakant Patil said the budget takes care of all sections of society including farmers, women, the youth, tribals, traders, employed and others in line with Prime Minister Narendra Modi's 'Sab Ka Sath, Sab Ka Vikas, Sab Ka Vishwas' (inclusive growth with the trust of all) slogan.
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Hello Jammu News at 8:57:00 PM 0
Shabana Azmi


Mumbai, Feb 1 :  Noted actor Shabana Azmi, who was injured in an accident last month, on Saturday said that she is back home now and thanked her fans for praying for her speedy recovery.

The 69-year-old actor suffered head injuries when her car met with an accident on the Mumbai-Pune Expressway on January 18. Her husband, veteran lyricist Javed Akhtar, was also there in the vehicle but escaped unhurt.

The actor and her driver Kamlesh Kamath were taken to the MGM hospital in Navi Mumbai and later shifted to the Kokilaben Dhirubhai Ambani Hospital in suburban Andheri the same day.

"Thank you all for your prayers and wishes for my recovery

. I'm back home now," Azmi wrote on Twitter alongside a post-recovery photo of herself.

"Thank you #Tina Ambani and Kokilaben Ambani hospital for the sterling care provided by the doctors team and the nursing staff. Im indebted and grateful," she added.

Azmi's driver has been booked for rash driving and negligence.
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