Surathkal: Body of man from Uttar Pradesh found in sea waters in Kulai
Surathkal: The dead body, identified as that of a 35-year-old man from Uttar Pradesh, Mohammad Qureshi, was found off shore at Kulai, Chitrapur, on Friday evening.
The identity of the man was confirmed using the documents found in the pant pocket, police officers have said.
The cause for death, however, is yet to be ascertained. The police suspect Qureshi to have died when he went for a swim in the sea but have said that it could also be a case of suicide.
A case has been filed at the Surathkal Police Station. Further investigation is underway.
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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.
