Investors become poorer by Rs 9.51 lakh cr as markets crash
New Delhi (PTI): Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers.
The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade.
Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore (USD 5.35 trillion) during the morning trade.
"The global market is reeling as bears enter with a cocktail of bad news. The fear of a reverse Yen carry trade, following an interest rate hike in Japan, was the initial catalyst. This was compounded by fears of a recession in the USA after extremely poor jobs data, which spooked market sentiment," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Indian equity markets are witnessing signs of the first meaningful correction in global markets after an extended bull run, he added.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading sharply lower.
Japan's benchmark Nikkei 225 stock index plunged as much as 8.1 per cent early Monday, extending sell-offs that shook world markets last week as worries flared over the state of the US economy.
The US markets ended significantly lower on Friday.
"The rally in the global stock markets has been driven mainly by consensus expectations of a soft landing for the US economy. This expectation is now under threat with the fall in US job creation in July and the sharp rise in the US unemployment rate to 4.3 per cent.
"Geopolitical tensions in the Middle East also are a contributing factor," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
From the Sensex pack, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra and JSW Steel were the biggest laggards.
On the contrary, Hindustan Unilever, Sun Pharma, Nestle and Asian Paints were trading in the positive territory.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,310 crore on Friday, according to exchange data
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B'desh court issues arrest warrant against Sheikh Hasina, her sister Rehana, British MP Rizwana
Graft cases
Dhaka, Apr 13 (PTI): A court in Bangladesh on Sunday issued arrest warrants against ousted prime minister Sheikh Hasina, her sister Sheikh Rehana, British MP Tulip Rizwana Siddiq, and 50 others in connection with the alleged illegal acquisition of land by abusing political power.
Dhaka Metropolitan Senior Special Judge Zakir Hossain passed the order after considering three separate chargesheets filed by the Anti-Corruption Commission (ACC), the Dhaka Tribune newspaper reported.
Judge Hossain fixed April 27 to review reports on the execution of the arrest orders, the newspaper quoted ACC Assistant Director (Prosecution) Aminul Islam as saying.
Citing court sources, Bengali newspaper Prothom Alo reported that the ACC recently submitted chargesheets to the court against 53 people in three separate cases on corruption charges in plot allocation.
As all 53 accused, including Hasina, were absconding, the court issued arrest warrants against them, the paper said.
On April 10, the same court issued arrest warrants against Hasina, her daughter Saima Wazed Putul, and 17 others in a separate corruption case related to Rajuk plot allotments.
Putul has been serving as the South East Asian regional director for the World Health Organisation (WHO) based in New Delhi since November 1, 2023.
On January 13, ACC filed a case against Rehana for allegedly acquiring a 10-katha plot in the Purbachal New Town Project through abuse of authority. The case named 15 accused, including Hasina and Rehana's daughter British lawmaker Tulip Rizwana Siddiq. Rehana did not hold any official position in the past regime.
After the investigation, ACC submitted a chargesheet on March 10 against 17 individuals, adding two more names.
In a second case, ACC filed charges against Azmina Siddiq for similar irregularities in acquiring a 10-katha plot in Purbachal. This case initially listed 16 accused, including Tulip Siddiq and Sheikh Hasina. The final chargesheet, submitted on March 10, named 18 people.
The ACC filed a third case the same day against Rehana's son Radwan Mujib Siddiq, accused of obtaining a plot using political influence. Tulip Siddiq and Sheikh Hasina were among the 16 named in the initial complaint. The final chargesheet also included 18 accused.
Hasina is also accused of numerous charges like mass murders and crimes against humanity, enforced disappearances while these cases were being filed with Bangladesh's International Crimes Tribunal.
Hasina’s 16-year-long Awami League regime was toppled on August 5 last year in a student-led violent mass uprising. Since then, 77-year-old Hasina has been living in India.
