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c m y k c m y k THE LARGEST CIRCULATED ENGLISH DAILY IN SOUTH INDIA HYDERABAD I TUESDAY I 10 MARCH 2020 WEATHER WORLD 12 SPORTS 16 TABLOID Max: 31.2OC | | Min: 21.8OC Biden picks up Mary Kom books ‘My legacy should RH: 64% Rain: 0.5 mm Booker’s support Olympic berth not be my identity’ Forecast: Partly cloudy sky. Rain likely. deccanchronicle.com, facebook.com/deccannews, twitter.com/deccanchronicle, google.com/+deccanchronicle Vol. 83 No. 69 Established 1938 | 32 PAGES | `6.00 Max/Min temp. 32/22ºC ASTROGUIDE Scindia revolts Vikari; Uttarayanam Thithi: Phalguna Bahula Padyami 7000000000000 LOST till 7.23 pm ` Star: ttaraphalguni till 10.01 pm Varjyam: 7.23 am to 8.47 am, against Kamal 5.22 am to 6.46 am (next day) Sensex sees biggest intraday fall Oil price sees Durmuhurtam: 8.53 am to 9.40 am and 11.13 pm to 17 MLAs move to Karnataka; 12.01 am (next day in history, ends at 13-month low Rahukalam: 3 pm to 4.30 pm steepest fall 25 ministers quit to back CM HIJRI CALENDAR ASHWIN J. PUNNEN | FC ● All stocks that make the RABINDRA NATH close aide of Rahul Rajjab 14,1441 AH MUMBAI, MARCH 9 CHOUDHURY and Gandhi, while Kamal PRAYERS Sensex ended up in the red as oil in 29 years SREEPARNA Nath and Digvijay Singh Fajar: 5.28 am Investors lost `7 lakh crore as the Sensex clocked price fall affected the investor CHAKRABARTY are the senior leadership Zohar: 12.37 pm the biggest fall in its history in absolute terms, sentiment, which was already BHOPAL/NEW DELHI, who many say are refus- crashing 2,467 points intra-day amid an intensi- New York/New Delhi, March 9: Oil MARCH 9 ing to cede space to the Asar: 4.44 pm down because of coronavirus. fying rout in global stocks over coronavirus con- prices crashed on Monday, suffering their younger leadership. Maghrib: 6.30 pm cerns and crashing crude oil prices, triggering ● Out of 2,725 stocks traded on biggest daily rout since the 1991 Gulf War, Congress leader Jyotir- Sources in the BJP said Isha: 7.38 pm fears of a global recession. after the collapse of an OPEC+ supply aditya Scindia on Monday Mr Scindia had sought SUNSET TODAY 6.24 PM The Sensex regained some lost ground as it the BSE, there were 2,197 losers. agreement that now threatens to over- proved that he was not time to meet Prime Mini- SUNRISE TOMORROW 6.27 AM ended lower by 1,941.67 points, or 5.17 per cent, at Yes Bank, whose takeover by whelm the world with oil, inciting panic merely posturing as at ster Narendra Modi late MOONRISE TODAY 7.14 PM 35,634.95 — the lowest level in about 13 months, RBI rattled the market on Friday, throughout the energy sector. Petrol prices least 17 MLAs, including Monday night. However, MOONSET TOMORROW 6.58 AM while the Nifty settled at 10,451.45, dropping 538 was one of the few gainers. in India slipped below `71-mark for the first four state ministers the Congress claimed that points, or 4.90 per cent. time in eight months on Monday. aligned to him, flew to he was scheduled to meet The market capitalisation on Bombay Stock INVESTORS LOST After failing to come to an agreement to Bengaluru, posing a very Mrs Gandhi. Exchange (BSE) fell to `137.46 lakh crores on cut supply, Saudi Arabia and Russia over serious threat to the Sources said the party COUNTER POINT Monday, compared to Friday’s close of `144.31 the weekend pledged instead to ramp up Kamal Nath government was ready to give in to lakh crore. `22 lakh cr production, which could quickly flood glob- in Madhya Pradesh. any of Mr Scindia’s dema- The Indian markets have fallen almost 16 per in 13 trading sessions since al markets with oil at a time when demand Mr Nath, who is in nds, which included the cent from their peak, following its global peers February 20. has already weakened substantially. power with a wafer-thin post of MP Congress chief which have fallen anywhere between 13 per cent The stand-off sparked ferocious trade as majority, rushed to Bho- and a Rajya Sabha berth. to 20 per cent. The relentless FII selling in the ● Equity market indices across the world's benchmark crude contracts, pal from New Delhi where As the situation spun past two weeks has added to the overall down- the world fell by up to seven Brent North Sea and WTI, each nosedived he had met Congress pres- out of control, Mr Nath, trend. There was panic globally as fears of rising as much as 30 per cent, before recovering ident Sonia Gandhi late who had left for New cases of coronavirus in countries like Italy and per cent. The US S&P 500 fell slightly. In earlier Asian trading hours, on Sunday and was closet- Delhi on Sunday on a two- the United States made investors nervous, as it seven per cent, triggering a WTI had hit $27.34 per barrel, the lowest ed with his MLAs and day-visit, returned to may led to worries over a prolonged global eco- 15-minute halt in trading. level in more than four years. Brent struck senior Cabinet colleagues. Bhopal on Monday. nomic slowdown. a similar low at $31.02. Should these losses Late in the night, all “I will not allow (any- Meanwhile, market regulator Securities and hold, it would be the biggest one- ministers — 25 — present one) to destabilise my gov- Exchange Board of India issued a statement on BIG LOSERS day percentage decline for both in a cabinet meeting ernment with the help of the market selloff, saying: “The perceived eco- benchmarks since January 17, chaired by the Chief mafia. I have dedicated all nomic fallout from Covid-19 coupled with the Reliance Industries is the single 1991, the outset of the US Gulf Minister submitted their my life to serving the peo- steep fall in global crude prices led to volatility in biggest loser in the Monday market War, when it fell by a third. resignations to him. ple, but the BJP has the securities market.” mayhem. Its shares plunged by over For India, which imports over Mr Scindia’s revolt is indulged in immoral ways On the Sensex chart, ONGC was the top loser, 84 per cent of its oil needs, the seen by many as a clash to destabilise my govern- cracking over 16 per cent, followed by Reliance slump in oil price would lead between the proverbial ment,” Mr Nath said in a Industries, IndusInd Bank, Tata Steel, 12% to lower import bill and a cut Old Guard and the new statement. TCS, SBI, ICICI Bank and Bajaj Auto. the steepest fall since the in retail prices. Lower oil leadership of the Congr- IN Heavyweight Reliance Indu- prices will also help econo- ess. The former MP from ■ Page 8: BJP convenes BRIEF stries shed over 12 per cent. 1991 Gulf war, which eroded the my from its 11-year Guna is known to be a MLAs meeting today The shares of SBI plunged company’s wealth by low growth rate by way Modi’s Dhaka over six per cent after it said it of reducing input cost for a would pick up a 49 per cent lot of sectors. — Agencies visit deferred stake in Yes Bank for `1000000000000 `2,450 crores. Crisis-hit New Delhi: Prime Yes Bank, on the other RIL has also lost its most valuable Indian company OIL GLUT CBI books 5 in Yes Minister Narendra Modi’s hand, rallied over 31 per cent. tag to Tata Consultancy Services visit to Bangladesh next All sectoral indices ended in week to attend the birth the red, succumbing to growing CAUSE: After Russia Bank Rana’s family centenary celebrations of fears about a global recession Oil & Natural Gas Corp lost nearly Bangabandhu Sheikh among investors. On the currency 16% the worst fall in 25 years. refused a proposal to cut New Delhi, March 9: Enforcement Directorate Mujibur Rahman has front, the Indian rupee weakened by Its stock plunged to the year 2004 level. oil supplies to boost the price, The CBI has booked Yes (ED) expanded its money been put off after the another 27 paise to 74.14 per US dollar. Saudi Arabia increased its oil Bank founder Rana laundering probe against commemorative pro- Bourses in Shanghai, Hong Kong, Seoul The state-owned firm, which was the most production and reduced crude Kapoor’s wife and three the arrested banker. grammes were deferred and Tokyo sank up to five per cent, while the valuable company in India in 2013, is worth selling price. daughters over allega- In what may calm har- due to detection of coro- European benchmarks also plunged up to six tions he received kick- ried depositors of Yes navirus cases in that per cent in their early deals. Trading was halted TRIGGER: Russia wanted to punish US backs through scam-hit Bank, its administrator country, the Ministry of immediately after the opening in New York on `93,911cr, shale oil operators by keeping the crude DHFL’s `600 crore loan to Prashant Kumar said he External Affairs said on Monday, as the benchmark S&P 500 tumbled a family-owned company is hopeful of the moratori- Monday. — PTI seven per cent to its lowest since June 2019, trig- which is less than price lower than their operating costs.