market watch

Sensex, Nifty 50 tumble again after heavy losses in global markets

The domestic share indices wiped out all the gains they had made on Thursday soon after the markets opened on Friday.

Indian benchmark indices ended a dismal week with another heavy slide on Friday, as the 4% decline in the Dow Jones the previous day sent Asian markets tumbling.

The Bombay Stock Exchange’s Sensex closed the day 407.40 points down at 34,005.76, while the National Stock Exchange’s Nifty 50 ended at 10,454.95 points, 121.90 points lower than Thursday’s close. Both indices lost 1.2% during the day.

Domestic share markets had made gains on Thursday for the first time in eight sessions, but wiped out all gains when trade opened on Friday. The BSE Sensex dived 563.51 points in early trading and the Nifty 50 opened lower by 178.65 points.

Global market losses have impacted Indian indices and Asian markets over the past week. On Thursday, the Dow Jones Industrial Average fell 1,032.89 points – a loss of more than 4% in a day.

Investors are said to be concerned about rising inflation, which is forcing central banks to raise interest rates. This makes borrowing money more expensive for companies and consumers, hampering economic activity.

Only six of the 31 stocks on the Sensex rose on Friday: Tata Steel, Dr Reddy’s, Asian Paints, Hindustan Unilever, Tata Consultancy Services and Coal India. The stocks that declined the most on the index were Yes Bank, ICICI Bank, HDFC, Infosys and Axis Bank.

On the Nifty 50, only 12 of the 50 stocks rose, the top five being HCL, Cipla, Tata Steel, Lupin and Asian Paints. The top losers were Yes Bank, Aurobindo Pharma, Tech Mahindra, State Bank of India and Infosys.

The rupee also fell on Friday, and was at 64.37 a dollar at 3.30 pm, against 64.26 at previous close. Earlier in the day, the Indian currency had declined to a fresh two-month low of 64.43.

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Following a mountaineer as he reaches the summit of Mount Everest

Accounts from Vikas Dimri’s second attempt reveal the immense fortitude and strength needed to summit the Everest.

Vikas Dimri made a huge attempt last year to climb the Mount Everest. Fate had other plans. Thwarted by unfavourable weather at the last minute, he came so close and yet not close enough to say he was at the top. But that did not deter him. Vikas is back on the Everest trail now, and this time he’s sharing his experiences at every leg of the journey.

The Everest journey began from the Lukla airport, known for its dicey landing conditions. It reminded him of the failed expedition, but he still moved on to Namche Bazaar - the staging point for Everest expeditions - with a positive mind. Vikas let the wisdom of the mountains guide him as he battled doubt and memories of the previous expedition. In his words, the Everest taught him that, “To conquer our personal Everest, we need to drop all our unnecessary baggage, be it physical or mental or even emotional”.

Vikas used a ‘descent for ascent’ approach to acclimatise. In this approach, mountaineers gain altitude during the day, but descend to catch some sleep. Acclimatising to such high altitudes is crucial as the lack of adequate oxygen can cause dizziness, nausea, headache and even muscle death. As Vikas prepared to scale the riskiest part of the climb - the unstable and continuously melting Khumbhu ice fall - he pondered over his journey so far.

His brother’s diagnosis of a heart condition in his youth was a wakeup call for the rather sedentary Vikas, and that is when he started focusing on his health more. For the first time in his life, he began to appreciate the power of nutrition and experimented with different diets and supplements for their health benefits. His quest for better health also motivated him to take up hiking, marathon running, squash and, eventually, a summit of the Everest.

Back in the Himalayas, after a string of sleepless nights, Vikas and his team ascended to Camp 2 (6,500m) as planned, and then descended to Base Camp for the basic luxuries - hot shower, hot lunch and essential supplements. Back up at Camp 2, the weather played spoiler again as a jet stream - a fast-flowing, narrow air current - moved right over the mountain. Wisdom from the mountains helped Vikas maintain perspective as they were required to descend 15km to Pheriche Valley. He accepted that “strength lies not merely in chasing the big dream, but also in...accepting that things could go wrong.”

At Camp 4 (8,000m), famously known as the death zone, Vikas caught a clear glimpse of the summit – his dream standing rather tall in front of him.

It was the 18th of May 2018 and Vikas finally reached the top. The top of his Everest…the top of Mount Everest!

Watch the video below to see actual moments from Vikas’ climb.

Play

Vikas credits his strength to dedication, exercise and a healthy diet. He credits dietary supplements for helping him sustain himself in the inhuman conditions on Mount Everest. On heights like these where the oxygen supply drops to 1/3rd the levels on the ground, the body requires 3 times the regular blood volume to pump the requisite amount of oxygen. He, thus, doesn’t embark on an expedition without double checking his supplements and uses Livogen as an aid to maintain adequate amounts of iron in his blood.

Livogen is proud to have supported Vikas Dimri on his ambitious quest and salutes his spirit. To read more about the benefits of iron, see here. To read Vikas Dimri’s account of his expedition, click here.

This article was produced by the Scroll marketing team on behalf of Livogen and not by the Scroll editorial team.