Bloodbath in Indian markets: Nifty hits 1-year low, Sensex drops over 3,900 points
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Mumbai: In one of the sharpest market crashes since the COVID era, Indian stock indices opened with a steep fall on Monday. The Nifty 50 plunged by 5%, opening at 21,758.40 — down by 1,146.05 points. Simultaneously, the BSE Sensex dropped by 3,984.80 points (5.29%), opening at 71,379.8.
Experts attribute the market carnage to a global selloff triggered by the US administration's recent economic policies. Ajay Bagga, a market expert, said India is facing the ripple effects of massive tariff hikes announced by former US President Donald Trump, which he termed as the "highest tariffs of a century."
Asian markets mirrored the downturn. Taiwan's index crashed 20% after reopening from a holiday, while Hong Kong’s Hang Seng fell nearly 10%. Japan's Nikkei dropped 5.79%, China’s Shanghai Composite 6.5%, and South Korea’s KOSPI fell 4.14%. Australia’s S&P/ASX 200 declined by 3.82%.
Indian financial experts called for urgent fiscal, monetary, and reform measures to shield the domestic economy from further fallout. SEBI-registered analyst Sunil Gurjar noted that Nifty's technical indicators show a bearish trend, suggesting more downside risk ahead.
Meanwhile, Brent crude prices hit a 52-week low, trading at $63.97, and US market futures indicated further weakness, with the Dow Jones down 2.22%.
Market watchers believe that without a rollback or easing of the tariff measures, global markets may continue to experience heightened volatility in the coming weeks.
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Maharashtra sets up state vaccination task force to strengthen immunisation programme
Mumbai (PTI): The Maharashtra government has set up a State Vaccination Task Force to strengthen the regular immunisation programme and review the progress of related campaigns, a health department official said on Monday.
The State Vaccination Task Force will comprise at least 29 members and will be headed by the administrative head of the health department, he informed.
The government has also constituted separate district-level and municipal vaccination task forces to improve implementation and address challenges at the grassroots level, he said.
Municipal task forces, chaired by respective civic commissioners, have been constituted in view of the vast urban population in Maharashtra and the role of civic bodies in implementing different health programmes.
The district-level task forces will function under the chairmanship of collectors.
"Complete immunisation of children at the appropriate age is an extremely simple, cost-effective and highly effective measure to reduce child mortality and the prevalence of diseases among kids. Immunisation is a powerful tool for reducing illness in children," maintained the official.
To ensure full vaccination of all children, the state government implements various campaigns from time to time as per the central government guidelines, he pointed out.
"Active participation and cooperation of other relevant government departments are essential (in making these campaigns successful)," according to the official.
The state-level body will review the regular immunisation programme, associated campaigns and vaccine-preventable diseases in detail. It will also conduct focused assessments of high-risk districts and municipal corporations, including vacancies at district, municipal and sub-district levels, availability of cold chain equipment, resource gaps and training requirements, he noted.
The state task force will review allocation and utilisation of funds for immunisation and ensure timely action by officers concerned based on reports from district and municipal task forces and state-level monitoring mechanisms, the official said.
It will also ensure active coordination and participation of other government departments in immunisation drives, while district and municipal task forces will carry out similar functions at their respective levels, the official added.
