Sensex falls over 150 pts, Nifty slips below 10,300
Mumbai, Oct 8 : The BSE Sensex fell over 150 points and the NSE Nifty dropped below the 10,300-level in early trade Monday on unabated foreign fund outflow amid weak Asian cues and the weakness in rupee.
Falling for the fourth straight session, the BSE 30-share barometer fell 169.20 points, or 0.53 per cent, to 34,207.79 after hitting a low of 34,106.24.
The gauge had plunged by 2,149.15 points in the previous three sessions.
Sectoral indices, led by metal, realty, consumer durables, capital goods, healthcare, auto, FMCG, power and teck, were trading in the negative terrain, falling up to 3.38 per cent.
The NSE Nifty fell 88.85 points, or 0.86 per cent, to 10,227.60.
Top laggards include Vedanta, Tata Steel, Adani Ports, HDFC, Wipro, L&T, RIL, Bajaj Auto, ITC, Maruti Suzuki, HUL, Sun Pharma, ICICI Bank, TCS, Bharti Airtel, IndusInd Bank, M&M and Axis Bank, dropping by up to 6.58 per cent.
However, Yes Bank, Coal India, SBI, ONGC, PowerGrid and Kotak Bank were trading in the green on value buying.
Foreign funds sold shares worth a net of Rs 3,370.14 crore, while domestic institutional investors bought equities worth Rs 1,902.07 crore Friday, provisional data showed.
Foreign investors have pulled out over Rs 9,300 crore (USD 1.3 billion) from the Indian capital market in the last four trading sessions.
Brokers said besides unabated foreign fund outflows, losses at other Asian markets, led by China and Friday's losses in the US market, dampened trading sentiments here.
Hong Kong's Hang Seng fell 0.87 per cent, while Taiwan TSEC index shed 0.78 per cent in their late morning deals. Shanghai Composite Index fell 2.95 per cent. Japanese markets are closed Monday for a public holiday.
The US Dow Jones Industrial Average ended 0.68 per cent down on Friday.
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Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
