Angry farmers resort to vandalism after chilli prices fall in Haveri district
Haveri (Karnataka), Mar 11: A group of angry farmers gathered in front of the Agricultural Produce Market Committee (APMC) office in Byadgi in Haveri district and allegedly resorted to vandalism expressing their anger over the sudden fall in chilli prices.
They allegedly also set ablaze at least three vehicles including a fire engine and ransacked and vandalised the APMC office.
When police personnel and a fire engine arrived at the spot to control the situation, they blocked the entry to the market and prevented them from entering the area.
Later, the police managed to disperse the crowd and brought the situation under control.
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Home Minister G Parameshwara told reporters that chilli prices had gone down from Rs 20,000 per quintal to Rs 8,000 per quintal in a single day and that led to a commotion in Haveri APMC market. It is being checked whether this kind of price fall has happened in all the APMC markets or only in the Haveri market.
The APMC office in Haveri district was broken into and furniture was destroyed.
The Chief Minister has asked for a report to be submitted to find out the reasons behind the fall in prices. He informed that further action will be taken based on the report.
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Investors' wealth erodes by over Rs 22 lakh cr since beginning of West Asia conflict
New Delhi (PTI): Equity investors became poorer by Rs 22.40 lakh crore since the beginning of the conflict involving the US, Israel and Iran, which has rattled stock markets, driving the BSE Sensex lower by 4.6 per cent.
The US and Israel launched military strikes on Iran on February 28, killing Ayatollah Ali Khamenei, Iran's supreme leader.
Following the military offensive, Iran has carried out a wave of attacks mainly targeting Israeli and American military bases in several Gulf countries, including the UAE, Bahrain, Kuwait, Jordan, and Saudi Arabia.
Brent crude, the global oil benchmark, jumped 12.82 per cent to USD 104.6 per barrel.
Since February 27, the 30-share BSE Sensex has tanked 3,721.03 points or 4.57 per cent.
The market capitalisation of BSE-listed companies dropped sharply by Rs 22,40,408.82 crore to Rs 4,41,10,262.45 crore (USD 4.78 trillion) during this time.
"Indian equity markets ended the session sharply lower after opening with a steep gap-down of nearly 3 per cent, as weak global cues and the deepening conflict in the Middle East weighed heavily on investor sentiment.
"The escalation in geopolitical risks pushed crude oil prices above the USD 100 per barrel mark and drove the Indian rupee to a record low against the US dollar, amplifying concerns around inflation and external balances," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
On Monday, the Sensex tanked 1,352.74 points or 1.71 per cent to settle at 77,566.16, registering its second day of decline. During the day, the benchmark crashed 2,494.35 points or 3.16 per cent to 76,424.55.
"Selling intensified as the Middle East conflict entered its second week with no signs of de-escalation," Vinod Nair, Head of Research, Geojit Investments Limited, said.
UltraTech Cement was the biggest loser in the Sensex pack, tumbling 5.09 per cent, followed by Maruti, Mahindra & Mahindra, State Bank of India, InterGlobe Aviation, and Adani Ports, which were among the major laggards.
In contrast, Reliance Industries, Sun Pharma, Infosys, Tech Mahindra and HCL Tech were the gainers.
The BSE smallcap select index dived 2.11 per cent and the midcap select index tanked 2.08 per cent.
All BSE sectoral indices ended lower. The BSE mid-small private banks quality tilt tumbled 4.50 per cent, PSU Bank (3.92 per cent), auto (3.89 per cent), services (3.37 per cent), Bankex (3.16 per cent), oil & gas (3.11 per cent) and Private Banks index (2.89 per cent).
A total of 3,379 stocks declined, while 972 advanced and 185 remained unchanged on the BSE.
