Bommai, Yediyurappa to launch 'Jana Sankalpa Yatra' tomorrow
Bengaluru, Oct 10: Karnataka Chief Minister Basavaraj Bommai, along with the BJP stalwart B S Yediyurappa, would start 'Jana Sankalpa Yatra' in at least 50 Assembly constituencies in poll-bound Karnataka from Raichur on Tuesday.
The yatra is coinciding with Congress leader Rahul Gandhi's 'Bharat Jodo Yatra', which would go on in the State till October 20.
"The Chief Minister, along with former CM Yediyurappa, will start the Jana Sankalpa Yatra (JSY) on Tuesday from Raichur. The yatra with gaps will continue till December 25. During this period, the two leaders will cover 50 Assembly segments," a BJP office-bearer said.
The present tour from Raichur would be for three days and after a gap it would start again from a different location, he added.
According to him, the next three days would see the Chief Minister on a whirlwind tour.
Bommai would leave for Ballari on Tuesday morning, from where he would reach Raichur in the afternoon to take part in the yatra.
In the next three days, he would have yatra-related events in Maski in Raichur, Kushtagi in Koppal, Hoovinahadagali and Hospet, the district headquarters town of Vijayanagara, and Siriguppa in Ballari district.
After two days, the Chief Minister would attend SC Morcha Samavesha in Mysuru on October 16.
This month, Bommai would visit places in Bidar, Yadgir and Kalaburagi. On October 30, he would attend OBC Morcha Samavesha in Kalaburagi, sources close to the Chief Minister said.
Already, the BJP State chief Nalin Kumar Kateel and BJP national general secretary and Karnataka in-charge Arun Singh are touring various parts of the State holding public meetings, the BJP office-bearer said.
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Investors become poorer by Rs 12 lakh cr in three days of market fall
New Delhi, Jan 10: Investors' wealth tumbled Rs 12 lakh crore in three days of market slump due to uninterrupted foreign fund outflows and concerns over quarterly earnings.
Also, rising crude oil prices and a strengthening dollar index added to investors' pessimism.
In three days, the BSE benchmark Sensex tanked 820.2 points or 1.04 per cent.
On Friday, the 30-share BSE benchmark declined 241.30 points or 0.31 per cent to settle at 77,378.91. During the day, the benchmark gyrated 820.15 points between the day's high of 77,919.70 and low of 77,099.55.
The NSE Nifty dropped 95 points or 0.40 per cent to 23,431.50.
The market capitalisation of BSE-listed firms diminished by Rs 12,07,314.99 crore to Rs 4,29,67,835.05 crore (USD 5 trillion) in the three days.
From the 30-share blue-chip pack on Friday, IndusInd Bank, NTPC, UltraTech Cement, State Bank of India, Sun Pharma, Axis Bank, Tata Steel and Power Grid were among the major laggards.
Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent surge in the December quarter net profit to Rs 12,380 crore.
Devarsh Vakil, Head of Prime Research at HDFC Securities, said, "Strong quarterly earnings from TCS drove the IT index up 3.4 per cent, helping the market withstand a sharp sell-off."
However, despite broad gains across IT stocks, the Nifty fell for the third consecutive session, Vakil added.
Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,170.87 crore on Thursday, according to exchange data.
"Domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns, and a strengthening dollar index. Despite the IT sector's resilience following positive early Q3 results, broader indices bled due to uncertainties surrounding Trump policies and high valuations.
"Consolidation may persist in the near term, yet investors are closely watching the US non-farm payroll data today for further guidance," Vinod Nair, Head of Research at Geojit Financial Services, said.
The BSE smallcap gauge dropped 2.40 per cent and midcap index declined 2.13 per cent.
Among BSE sectoral indices, power tanked 3.07 per cent, utilities (2.86 per cent), realty (2.64 per cent), industrials (2.08 per cent), commodities (2.05 per cent) and consumer durables (1.98 per cent).
BSE Focused IT jumped 3.17 per cent, IT (2.65 per cent) and teck (2.24 per cent) were the biggest gainers.
As many as 3,167 stocks declined while 827 advanced and 84 remained unchanged on the BSE.
"Markets continued its downward trajectory as the rupee dropping to new lows against the strengthening dollar has further dampened investors' sentiment. Amid concerns of subdued economic growth and expectations of a slowdown in the quarterly earnings, investors cut their bet on banking and mid & small cap stocks.
"With expensive valuations of Indian markets at large still a concern, investors would mostly resort to stock-specific activities," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.
