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Sensex, Nifty open in red as financials drag



Key Indian equity indices opened lower on Wednesday on weak global cues concerned over the partial shutdown of the US government and a slowdown in global growth.

All sectors, except oil and gas, traded in red. Heavy selling pressure was seen in finance and banking stocks.
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The Sensex of the BSE opened at 35,443.16 from its previous close of 35,470.15 on Monday.

At 9.20 a.m., the Sensex traded 139.22 points or 0.38 per cent lower at 36,486.30.

The Nifty50 of the National Stock Exchange (NSE) opened at 10,930.55 after closing at 10,908.70 on the previous trading day. It traded at 10,599.95 during the morning session, down 63.55 points or 0.60 per cent.


Zoom saw its popularity soaring in the last three months




“We were humbled by the accelerated adoption of the Zoom platform around the globe in Q1. The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom. Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives,” said Eric S. Yuan, Founder and CEO of Zoom.


While Zoom saw its popularity soaring in the last three months, governments and law enforcement agencies also sought clarification from the video meet app over data hoarding and cyber hoarding, along with issues of unauthorised access termed as “zoom-bombing”.

After the Supreme Court in India sought the response of the Central government over a petition seeking a ban on Zoom, the video calling app claimed that it “takes user privacy, security, and trust extremely seriously.”

“Zoom takes user privacy, security and trust extremely seriously. We have been focused on enhancing our commitment to security and privacy under our 90-day plan announced on April 1, and have made significant progress,” the company said in a statement.

“Our primary grants in Q1 were toward organisations making a difference during COVID-19,” said Yuan.

Zoom growth has led to several tech giants ramping up their video conferencing services like Microsoft Teams, Google Meet and Facebook Messenger Rooms, among others.

Zoom recently announced that it will expand its engineering team with up to 500 new headcount based in Phoenix, Arizona and Pittsburgh, Pennsylvania, in the US.

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