Sensex soars 646 points as Reliance Industries hits fresh high

Dr. Fauci Dismisses Herd Immunity Strategy

United States’ top infectious diseases expert Dr. Anthony Fauci said the White House Coronavirus Task Force does not intend to adopt the “herd immunity” strategy to control the coronavirus pandemic.

“We’re not there yet. That’s not a fundamental strategy that we’re using.” Fauci said in an interview to MSNBC.

“The fundamental strategy that we clearly articulate and go by through the [White House coronavirus] task force is to try to prevent as many infections as you possibly can prevent,” said Dr. Fauci, who is the director of the National Institute of Allergy and Infectious Diseases.

The White House coronavirus advisor stressed the need to bring down the number of daily infections to sub-10,000 level.

White House health adviser Scott Atlas had reportedly urged the Trump administration to try herd immunity.

President Donald Trump also is in support of using that strategy.

Herd immunity is attained when enough people in a community are infected or vaccinated after which a pathogen stops circulating.

Top health experts have warned against that method, saying that it would cost more lives.

With 39,117 new cases reporting in the last 24 hours, the total number of infections in the United States rose to 6114769 as of Johns Hopkins University’s latest update Thursday.

1,058 COVID-infected deaths were reported in the same period, taking the national total to 185747.

Jacob Rees-Mogg self-isolating after one of his children shows Covid symptoms

Jacob Rees-Mogg is self-isolating after one of his six children showed symptoms of coronavirus.

The Tory MP did not appear for the weekly business statement in the House of Commons on Thursday morning.

He tweeted: ‘Many thanks to @StuartAndrew for standing in for me at Business Questions.  One of my children was tested for COVID-19 last weekend after displaying symptoms. In accordance with government guidance, the household has been in self-isolation while we await the test result.’

More to follow

Why students are turning to sex work to survive

A survey has revealed 7% of students have turned to sex work, and one in 10 would consider it in an emergency.  In the past few years, tuition fees have increased dramatically and during the COVID crisis, students have been hit the hardest financially.

Dominic Waghorn talks to a student sex worker studying to become a psychotherapist to help others in her situation – and hear parts of an exclusive Sky News report into the phenomenon.

Austria reports 664 new coronavirus cases in a day, highest since March

VIENNA (REUTERS) – Austria reported 664 new coronavirus cases in the past 24 hours, the biggest daily increase since late March, when an initial spike in infections was rapidly fading due to a strict lockdown.

Of those new cases, 387 were in Vienna, the Interior Ministry said in a statement on Thursday (Sept 10).

Infections have been increasing since late June, and more recently the government has mainly blamed the rise on people returning from tourism hotspots such as Spain and Croatia.

ByteDance may miss U.S. deadline for TikTok deal: Bloomberg

(Reuters) – ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok’s U.S. assets as new Chinese regulations have complicated deal talks with bidders Microsoft Corp (MSFT.O) and Oracle Corp (ORCL.N), Bloomberg reported on Thursday, citing people familiar with the matter.

Gold rises by ₹ 287, silver jumps ₹ 875

Gold prices rose by ₹ 287 to ₹ 52,391 per 10 gram in the national capital on Thursday, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 52,104 per 10 gram.

Silver prices also gained ₹ 875 to ₹ 69,950 per kilogram from its previous close of ₹ 69,075 per kilogram.

In the international market, gold was quoting marginally lower at USD 1,944 per ounce, while silver was trading flat at USD 26.95 per ounce.

“Gold prices kept range-bound trading on mixed global cues as market is awaiting comments from European Central Bank (ECB) over monetary policy,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Reliance Securities Senior Research Analyst Sriram Iyer said, “Domestic prices were flat to marginally higher this Thursday afternoon in lackluster trade as most investors awaited the ECB meeting today evening.”

Sensex soars 646 points as Reliance Industries hits fresh high

RIL stock jumped 8.45%.

Domestic equity benchmark Sensex soared 646 points on Thursday, boosted by a rally in index heavyweight Reliance Industries.

The 30-share BSE index ended 646.40 points or 1.69% higher at 38,840.32. The NSE Nifty rallied 171.25 points or 1.52% to 11,449.25.

Reliance Industries was the top gainer in the Sensex pack as it zoomed over 7%. The company’s market valuation rose to ₹ 14,66,589.53 crore (USD 199.64 billion) in late afternoon trade.

On Wednesday, the company had announced that US private equity firm Silver Lake Partners would buy 1.75% stake in its retail arm for ₹ 7,500 crore.

RIL stock jumped 8.45% to a record high of ₹ 2,343.90 on the BSE during the day. On the NSE, it gained 8.49% to a lifetime high of ₹ 2,344.95.

Asian Paints, Axis Bank, UltraTech Cement, IndusInd Bank and Bajaj Finance were also among the gainers.

On the other hand, Tata Steel, Bharti Airtel, Kotak Bank, HDFC Bank and Titan were among the laggards.

Domestic equities started on a positive note, and extended gains mainly driven by strong buying sentiment in Reliance Industries, traders said.

Bourses in Shanghai and Hong Kong ended in the red, while Seoul and Tokyo closed with gains.

Stock exchanges in Europe were also trading on a mixed note.

Global oil benchmark Brent crude was trading 1.27% lower at USD 40.27 per barrel.