Stocks
Chinese shares tumble
Beijing : Chinese stocks continued to dive on Thursday, with Shanghai dipping below the 2,900-mark again.
 
The benchmark Shanghai Composite Index lost 3.23 percent to close at 2,880.48 points. Shenzhen dropped 3.77 percent to close the day at 9,975.97 points, Xinhua news agency reported.
 
The ChiNext Index, the NASDAQ-style board of growth enterprises, dived 4.18 percent to close at 2,112.40 points.
 
The ChiNext reclaimed its role as the worst performing index after its excellent debut earlier this week.
 
Total turnover on the two bourses waned, standing at $81.76 billion. Losers outnumbered gainers by 957 to 44 in Shanghai and 1,470 to 81 in Shenzhen, the report said.
 
Chinese shares inched into positive territory after a weak session on Thursday morning. Both Shanghai and Shenzhen indexes resumed the downtrend after midday and wobbled during the whole afternoon session.
 
The losses increased near closing, with the benchmark Shanghai Composite Index nose-diving more than three percent.
 
The oil industry suffered, as global oil prices continued to drop. PetroChina Company Ltd. lost 2.68 percent. 
 
Sub-indices related to aviation, electricity and steel were also among the worst performers on Thursday, with losses spread over all sectors.
 
Stocks edged up in the morning session as China's central bank continued to ease liquidity strain for the financial system, following its pledge earlier this week to channel more than 600 billion yuan before the upcoming Spring Festival holiday.
 
According to the People's Bank of China (PBOC), another $60.8 billion will be injected into the financial system through reverse re-purchase operations. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Pathankot attack: NIA raids six locations in Punjab
New Delhi : The National INvestigation Agency sleuths on Thursday raided six places in Punjab's Gurdaspur and Amritsar towns as part of the ongoing probe into the January 2 terror attack at the air force base in Pathankot.
 
The places where the raids were carried out belong to suspected Punjab Police officer Salwinder Singh and his two companions who were allegedly kidnapped by terrorists hours before they mounted the attack at the air base. 
 
"Two days after the lie detector test of Salwinder Singh, we carried out raids at six locations, four in Gurdaspur and two in Amritsar," an NIA official, requesting anonymity, told IANS.
 
"The locations include the residential places of Singh, his friend Rajesh Verma and his cook Madangopal." 
 
Singh's lie detector test was conducted by the National Investigation Agency (NIA) on Tuesday. 
 
Singh, at present, is posted as assistant commandant of 75th Punjab Armed Police after being shunted out as the superintendent of police (headquarters) at Gurdaspur.
 
Six Pakistani terrorists -- believed to be from the outlawed Jaish-e-Mohammed terror outfit -- sneaked into Punjab from across the border and took the Punjab Police officer hostage before taking away his vehicle. 
 
They attacked Singh's friend and cook, but left the police officer himself unharmed and untouched, rasing suspicions about his role in the whole apisode.
 
The six terrorists later attacked the Indian Air Force base in Pathankot, killing seven security personnel.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Businessman sentenced to life for killing guard
Thrissur (Kerala) : A court here on Thursday sentenced a businessman to life imprisonment for running down a security guard with his Hummer sports utility vehicle in a fit of rage.
 
Additional District and Sessions Judge K.P. Sudhir, who had on Wednesday pronounced Mohammed Nisham guilty, also fined him Rs.70 lakh.
 
The prosecution accused Nisham of ramming his powerful Hummer into the 47-year-old guard, Chandra Bose, on December 29, 2014 and also beating him up. 
 
Bose worked as a security guard in a posh residential complex near here.
 
After battling for life for 48 days at a hospital, Bose died on February 15 last year.
 
Prosecution counsel Udayabhanu told the media on Thursday that there were various charges against the accused. 
 
"Of the Rs.70 lakh compensation, Rs.50 lakh has to be given to the guard's wife. 
 
"Moreover, the court today directed the police to register a case against the wife of the accused for giving a false statement," he said.
 
Chief Minister Oommen Chandy meanwhile said on Thursday that the guard's widow had been appointed a typist in a state-run organisation in Thrissur.
 
Owner of Kings Group of Companies, Nisham courted controversy after his seven-year-old son's photograph driving his car was put up on social media. In another case, he allegedly abused a woman police official for checking his vehicle. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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