Thatcher’s government privatised several state-owned industries. She was also in power when the UK went to war with Argentina over the Falkland Islands in 1982
Britain’s first woman prime minister Margaret Thatcher, known as the “Iron Lady”, today passed away following a stroke at the age of 87.
“It is with great sadness that Mark and Carol Thatcher announced that their mother Baroness Thatcher died peacefully following a stroke this morning“,” Lord Bell, her spokesperson said.
Thatcher was Conservative Prime Minister from 1979 to 1990.
Thatcher, born as Margaret Roberts, became the Conservative MP for Finchley, north London in 1959, retiring from the Commons in 1992.
Having been education secretary, she successfully challenged former prime minister Edward Heath for her party’s leadership in 1975.
She won the general elections in 1979, 1983 and 1987.
Thatcher’s government privatised several state-owned industries. She was also in power when the UK went to war with Argentina over the Falkland Islands in 1982.
The Nifty made a higher low today. If it moves above today’s and Friday's high, there could be a short upmove
The market settled in the negative for the fourth successive day, this time on concerns about weak corporate earnings for the fourth quarter and economic growth. The Nifty made a higher low today. If it moves above today’s and Friday's high, there could be a short upmove. The National Stock Exchange (NSE) reported a lower volume of 44.42 crore shares and advance-decline ratio of 569:750.
The market opened flat on concerns about weak growth from corporates in the fourth quarter earnings season and subdued cues from its Asian peers which were weak in morning trade on concerns about the pace of global economic growth.
The Nifty opened two points down at 5,551 and the Sensex started the week at 18,456, up six points over its close on Friday. Select buying at the onset of trade led the benchmarks to their highs at around 9.30am. The Nifty rose to 5,569 and the Sensex inched up to 18,504 at their respective highs.
Volatility, seen since the opening bell, saw the benchmarks fluctuating between the red and green for most of the morning session. The market touched its low at noon with the Nifty dipping to 5,537 and the Sensex going back to 18,403.
Buying in consumer durables and healthcare stocks pushed the benchmarks higher in subsequent trade. However, selling pressure capped the gains and pushed the market lower in late trade.
The market settled marginally in the red, continuing its decline for the fourth day in a row. Today’s fall came on the back of selling in IT, capital goods and banking stocks.
The Nifty closed 10 points (0.19%) down at 5,543 and the Sensex settled 12 points (0.07%) lower at 18,438.
Among the broader indices, the BSE Mid-cap index settled 0.18% lower and the BSE Small-cap index fell 0.13%.
The top sectoral gainers were BSE Consumer Durables (up 1.18%); BSE Fast Moving Consumer Durables (up 0.77%); BSE Healthcare (up 0.71%); BSE Power (up 0.64%) and BSE Oil & Gas (up 0.55%). The main losers were BSE IT (down 0.98%); BSE Capital Goods (down 0.87%); BSE Bankex (down 0.79%); BSE Metal (down 0.61%) and BSE TECk (down 0.36%).
Seventeen of the 30 stocks on the Sensex closed in the positive. The chief gainers were Bharti Airtel (up 3.90%); BHEL (up 2.62%); Cipla (up 2.19%); Hindustan Unilever (up 1.51%) and Dr Reddy’s Laboratories (up 1.44%). The top losers were Sterlite Industries (down 1.85%); Larsen & Toubro (down 1.78%); HDFC (down 1.62%); Wipro (down 1.39%) and Jindal Steel & Power (down 1.30%).
The top two A Group gainers on the BSE were—Glenmark Pharmaceuticals (up 5.49%) and Reliance Communications (up 4.52%).
The top two A Group losers on the BSE were—Muthoot Finance (down 7.85%) and Jaiprakash Power Ventures (down 3.53%).
The top two B Group gainers on the BSE were—Rishiroop Rubber International (up 19.98%) and Accel Frontline (up 19.92%).
The top two B Group losers on the BSE were—Hazoor Multiprojects (down 18.26%) and Pacific Industries (down 17.59%).
Of the 50 stocks on the Nifty, 22 ended in the green. The key gainers were Reliance Infrastructure (up 3.48%); Bharti Airtel (up 3.27%); BHEL (up 2.73%); Ambuja Cement (up 2.28%) and Cipla (up 2.24%). The major losers were Asian Paints (down 2.99%); Ranbaxy Laboratories (down 2.37%); Punjab National Bank (down 2.11%); Axis Bank (down 2.05%) and Sesa Goa (down 1.97%).
Markets in Asia, except the Nikkei 225, closed in the red on concerns about the deadly new strain of bird flu as China reported fresh infections from the virus that has killed six persons since last month. The government’s move to cap property prices in Asia’s leading economy also added to the woes.
The Shanghai Composite declined 0.62%; the Hang Seng shed 0.04%; the Jakarta Composite fell 0.58%; the KLSE Composite lost 0.04%; the Straits Times dropped 0.46%; the Seoul Composite declined 0.44% and the Taiwan Weighted tumbled 2.395. Bucking the trend, the Nikkei 225 jumped 2.80%.
At the time of writing, the key European markets were trading with gains between 0.27% and 0.61%. At the same time, the US stock futures were in the positive, indicating a green opening for US stocks later in the day.
Back home, foreign institutional investors continued to be net sellers, withdrawing Rs203.18 crore on Friday. On the other hand, domestic institutional investors were net buyers of equities amounting to Rs21.47 crore.
Aditya Birla Nuvo will hive off its carbon black business by way of slump sale to SKI Carbon Black (India) Pvt Ltd, an Aditya Birla Group Company, for a lump sum consideration of Rs1,451 crore as enterprise value. Aditya Birla Nuvo declined 1.77% to close at Rs945 on the NSE.
IL&FS Engineering and Construction Company today said it has received a Letter of Intent (LoI) to construct Hyderabad's first Integrated Multilevel Automated Car Parking facility for Charminar Robo Park. The scope of work includes design and engineering, civil and structural works, electrical works, interior fit-out works, external infrastructure services and landscape works. IL&FS Engineering advanced 0.875 to settle at Rs40.55 on the NSE.
The resignations come at a time when the Sahara group is fighting an intense battle with market regulator SEBI over issues related to refund of over Rs24,000 crore to an estimated three crore bondholders of its two companies
Amid a fierce regulatory battle with the Securities and Exchange Board of India (SEBI), diversified conglomerate Sahara group has seen three independent members exiting from the boards of its various companies.
Those having relinquished their association with the Sahara group include RBI’s former deputy governor Amitabha Ghosh, retired Supreme Court judge S Mohan and New India Assurance Company’s former chairman A C Mukherjee.
Ghosh was on the board of group’s life insurance venture Sahara Life and real estate entity Sahara Prime City, besides being on the Board of Trustees of Sahara Mutual Fund.
AC Mukherjee was an independent director on the board of Sahara Life, while S Mohan was an independent member on the Board of Trustees of Sahara Mutual Fund.
The resignations come at a time when the Sahara group is fighting an intense battle, within and outside the courts, with market regulator SEBI over issues related to refund of over Rs24,000 crore to an estimated three crore bondholders of its two companies—Sahara Housing Investment Corporation (SHICL) and Sahara India Real Estate Corporation (SIRECL).
While none of the three persons who resigned from their positions with Sahara group could be reached for their comments, sources said that all of them have cited personal or family reasons for their resignations.
However, sources said exits could have happened because of Saharas’ legal and public spat with SEBI.
About one of the three persons, Sahara said that he was on many boards of different corporates and these corporates had strong objection of his continuing with Sahara.