Blasts In Bangalore

8 blasts, one after the other rocked the IT Hub of the nation on Friday afternoon, killing one woman and a man and injuring 6 other. The woman was identified as Laxmi, a garment factory worker and the man was identified as Anbu who was a labourer. These are initial reports and the authorities say the numbers may rise. The city is on high alert right now, shaken but still strong. The blasts are said to be low intensity blasts and the first one took place in Madiwala at around 1pm this afternoon. The explosions shook Nayandhalli, Madiwala checkpost, Adugodi, Vittal Mallya Road and Pantharapalya. 6 of the blasts are said to have occurred within 15 minutes of each other. As per the authorities, the bombs used in the incident were crude bombs stuffed with nuts and bolts.

What is weird is that since 1993, this is the sixth blast that has occurred on a Friday. But i'm happy to say that we as a nation have remained united as one, be it a Hindu or a Muslim. With the blasts in Bangalore, the effect is bound to be seen in the sentiments reflected by the markets in the coming few days. The market already reacted to the news today, Sensex closing down 502 points and Nifty down 121 points. Markets are expected to open weak and stay slump during the day. The worst hit is expected to be taken by the IT stocks since Bangalore is the country’s IT hub. Rising Cab costs for IT/BPO companies because of shortage of diesel in Bangalore and decreasing power supply in the city is hitting the operations and margins these companies are trying to sustain. Many Cab Companies have called for a rise in tariffs thus increasing the transportation costs.

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