Kolkata: The Calcutta Stock Exchange (CSE) today said it has received the Securities and Exchange Board of India's (SEBI) nod to allow trading on the National Stock Exchange (NSE) platform, reports PTI.
“We have received SEBI's approval to allow NSE trading for our members through the local bourse,” CSE chairman Dipankar Chatterji told PTI.
The CSE board will finalise the modalities and fees structure shortly after receiving brokers’ feedback, Mr Chatterji said.
CSE expects to make the NSE platform operational by early February. The bourse already offers trading facility for Bombay Stock Exchange (BSE) scrips.
The local bourse already does daily average business of Rs30 crore from the BSE trading platform.
After the operationalisation of the NSE platform, the exchange hopes to create a combined turnover of Rs80-Rs100 crore from cash segment of BSE and NSE.
“The exchange will witness a major jump in turnover after we introduce futures and options segment of NSE in CSE,” Mr Chatterji said.
The new Ritz ad whizzes past my mind the moment it’s done, just as the car whizzes past the highway. Another bunch of crores of rupees and creative man hours down the tube
To be quite frank, the brand name Ritz kinda worries me a bit. It just doesn't work for a car, and no, not even for a lowly hatchback. Ritz sort of cues stuff like wafers and biscuits and condoms, the instantly perishable types. But for a product that costs me around Rs5 lakh? Something's not right here, which probably explains why the Maruti blokes have been tinkering with Ritz's ad ever since the car was launched just about two years ago.
The latest ad tries to make the brand stand for something. And the punch line 'Live the moment' to mean something for the car buyers. So the commercial is a collage of shots of young people enjoying their 'special moments'. Baby at peace in the car. A kid trying to climb the roof of the car to pluck a fruit or some such thing. Another sod proposes to his partner by scribbling on the vanity mirror, etc, etc. 'How many moments have you lived?' asks the voice over.
Well, don't know about that sir, but the special moments you have portrayed in the ad I have lived again and again and again. Not in my entirely boring and unhappening life, but in adverts for all sorts of products and brands. Booze, cars, bikes, insurance, chocolates, detergents, lipsticks, fans, ball bearings even… I have lived these clichéd moments repeatedly. And now these 'special moments' at beaches, highways, traffic junctions, forests, etc, leave me totally cold and numb. They work for just about any product, ergo, they have NOTHING to do with the Ritz, and they hold no value for me. They tell me nothing about the car that's unique; neither in terms of features and styling, nor in terms of an emotional connect. The ad nicely whizzes past my mind the moment it's done, just as the car whizzes past the highway. Another bunch of crores of rupees and creative man hours down the tube. Tch, tch, tch.
And oh, that very floozy brand name. Even if the ad had rocked and won a Cannes Lion, I ain't spending Rs5 lakh (taxes and RTO bribes extra) on a waffle. So count me out anyways.
By the way, wish you all a delightful new year. May your life be filled with special moments. No, not the Ritz kind, I mean really special. Cheers!
Global cues point out to a soft-to-positive opening for the Indian market today on mixed global cues. The US markets closed lower overnight despite strong economic data on profit taking. Some markets in Asia are closed today, while those that are open are in the green in early trade on the last trading day of 2010. The SGX Nifty, which had a subdued opening, gained 9 points at 6,136 from its previous close of 6,127.
Thursday was the expiry day for the December series of futures and options contract and the market began cautiously. On Wednesday the market had rallied on thin volumes and expectations were positive especially since the Sensex had gone past the recent short-term high of 20,157. The Sensex continued Wednesday’s gains with the index hitting an intra-day high of 20,410.91 and closed 133.04 points up at 20,389.07 (up 1%). The S&P CNX Nifty was up 41.50 points (up 0.68%).
Markets in the US closed lower on Thursday on profit taking, despite strong economic data. Claims for jobless benefits declined in the week ended 25th December to the lowest level in two years. Applications for unemployment assistance fell by 34,000 to 388,000 last week, breaking the 400,000 level for the first time since July 2008. Besides, businesses expanded this month at the fastest pace in two decades and pending home sales climbed in November for the fourth time in five months. The data signals that the economic recovery will gather strength in 2011.
The Dow fell 15.67 points (0.14%) at 11,569.71. The S&P 500 shed 1.90 points (0.15%) to 1,257.88. The Nasdaq lost 3.95 points (0.15%) to 2,662.98.
Some Asian markets are closed today, while those that are open mostly higher in early trade today. Positive economic indicators from the US supported the gains. Markets in Japan, South Korea, Indonesia, and Malaysia are closed for the New Year holidays.
The Shanghai Composite surged 0.88%, the Hang Seng rose 0.39%, the Straits Times added 0.37% and the Taiwan Weighted gained 0.43%. The SGX Nifty, which had a subdued opening, gained 9 points at 6,136 from its previous close of 6,127.
Attributing high food inflation to demand-supply mismatch and rising global commodity prices, the Reserve Bank of India (RBI) on Thursday said high rate of price rise has emerged as a new risk factor.
“Growth has rebounded strongly but inflationary pressures persist, driven both by domestic demand and increasing global commodity prices,” RBI said in its second Financial Stability Report.
Global prices of major commodities, including crude oil, gold, iron ore, silver and farm goods like cotton have risen sharply, while crude oil is trading at two-year high of $92 per barrel.
The report also noted that the structural demand-supply mismatches in several commodities have contributed to high domestic food price inflation. In particular, prices of protein-rich foods like eggs, milk, pulses, meat and fish as well as fruits and wheat in India has been ruling at high levels.