Army jawan killed in firing by Pak along LoC
Jammu: An Indian Army jawan was killed when Pakistan opened heavy fire on forward posts along the LoC in Jammu and Kashmir's Rajouri district on Saturday, a defence spokesperson said.
He said the Pakistan Army violated the ceasefire agreement by opening fire along the Line of Control (LoC) in Rajouri sector.
"Indian troops responded strongly to the enemy fire," the spokesperson said.
In the incident, Sepoy Rohin Kumar was critically injured and he later succumbed to his injuries, he added. Kumar, a resident of Himachal Pradesh, was a brave, highly motivated and a sincere soldier, the spokesperson said.
He said that the nation will always remain indebted to him for his supreme sacrifice and devotion to duty.
Pakistan has been firing and shelling forward areas along the LoC one to two times a day in several sectors for almost the past one month.
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Market crash makes investors poorer by Rs 10.98 lakh cr
New Delhi, Jan 6: Investors' wealth tumbled Rs 10.98 lakh crore on Monday as markets crashed due to across-the-board selloff amid concerns over third-quarter earnings growth and foreign fund exodus.
The 30-share BSE benchmark Sensex tanked 1,258.12 points or 1.59 per cent to close below the 78,000 level at 77,964.99. During the day, it plunged 1,441.49 points or 1.81 per cent to 77,781.62.
The NSE Nifty slumped 388.70 points or 1.62 per cent to 23,616.05.
The market capitalisation of BSE-listed firms dived Rs 10,98,723.54 crore to Rs 4,38,79,406.58 crore (USD 5.11 trillion).
From the 30-share blue-chip pack, Tata Steel, NTPC, Kotak Mahindra Bank, Power Grid, Zomato, Adani Ports, IndusInd Bank, Asian Paints, ITC and Reliance Industries were among the biggest laggards.
Titan, HCL Tech and Sun Pharma were the gainers.
"The Indian equity markets are witnessing a sharp decline today, with both Nifty and Bank Nifty slipping below their 200-day moving averages (DMA). The sell-off can be attributed to a rise in Foreign Institutional Investors (FIIs) selling and concerns surrounding the upcoming Q3 earnings season.
"Additionally, fears related to the new HMPV have added to the bearish sentiment, triggering fresh rounds of selling after the recent counter-trend pullback rally," Santosh Meena, Head of Research at Swastika Investmart, said.
FIIs offloaded equities worth Rs 4,227.25 crore on Friday after a day's breather, according to exchange data.
The BSE smallcap gauge cracked 3.17 per cent and midcap index fell by 2.44 per cent.
"Indian equities faced intense selling pressure amid concerns regarding the outbreak of HMP virus and sharp fall in banking stocks post lacklustre quarterly updates," Siddhartha Khemka, Head - Research, Wealth Management at Motilal Oswal Financial Services Ltd, said.
All BSE sectoral indices ended lower, with utilities tumbling 4.16 per cent, power (3.73 per cent), services (3.45 per cent), metal (3.15 per cent), oil & gas (3.15 per cent), energy (3.03 per cent), industrials (2.97 per cent) and commodities (2.74 per cent).
As many as 3,474 stocks declined while 656 advanced and 114 remained unchanged on the BSE.
"Emerging markets are undergoing consolidation due to uncertainties surrounding new US economic policies, the Fed's hawkish stance on future rate cuts, potential upward revision for CY25 inflation, and a strong dollar, all of which are negatively impacting market sentiment. The primary catalyst for a sharp sell-off in the domestic market appears to be concerns over the Human Metapneumovirus (HMPV).
"Additionally, the initial Q3 consensus earnings estimate suggests a potential gradual recovery in domestic corporate earnings, which could explain the domestic market's underperformance compared to global markets led by premium valuation," Vinod Nair, Head of Research at Geojit Financial Services, said.
