Citizens' Issues
Give data on welfare schemes in 12 drought-hit states: SC
The Supreme Court on Monday asked the Centre to furnish data on the implementation of the National Food Security Act (NFSA), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), mid-day meal and rainfall data in 12 drought-hit states.
 
Seeking to know the criteria for declaring an area drought hit and rainfall data, the bench of Justice Madan B. Lokur and Justice R.K. Agrawal sought information on the availability of one kg of dal, one kg of edible oil, egg and milk for people in drought affected areas in the 12 states.
 
The court asked Solicitor General Ranjit Kumar to furnish the details by the next date of hearing on January 22.
 
The court asked the states to furnish the data to the union agriculture and farmers welfare ministry.
 
The court's direction came on a public interest suit by NGO Swaraj Abhiyan on the 12 states of Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Bihar, Odisha, Jharkhand and Haryana.
 
Informing the court on the steps taken by the Centre for ameliorating the plight of drought-affected people, Solicitor General Ranjit Kumar said financial assistance has been provided from the National Disaster Relief Fund and State Disaster Relief Fund to Karnataka, Madhya Pradesh, Maharashtra and Chhatisgarh to the tune of Rs.1,500 crore, Rs.2,032 crore, Rs.3,044 crore and Rs.1,276 crore, respectively.
 
Appearing for NGO Swaraj Abhiyan, counsel Prashant Bhushan told the court to direct the government that relief measures should be made available to all without making any distinction in people living below poverty line, above poverty line and others.
 
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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Insufficient towers linked to poor mobile services: TRAI
The lack of adequate number of mobile towers was one of the reasons for deteriorating quality of mobile services, officials of the Telecom Regulatory Authority of India (TRAI) said here on Monday.
 
"Lack of adequate number of mobile towers is one of the reasons for deteriorating quality of mobile services," said Agneshwar Sen, advisor for TRAI.
 
Sen said the guidelines for EMF radiations from BTS (base transceiver station) and mobile handsets in India were very stringent compared to other countries, including benchmarked standards of developed nations.
 
Allaying fears of the public, Suresh Kumar Gupta, principal advisor for TRAI, stressed that the Indian government through TRAI and the telecom department has put in place and "implemented stringent emission norms that ensure no adverse effects on human health from mobile tower emissions".
 
"Mobile tower radiations are nothing more than radio waves whose energy and frequency levels were far too low or weak in strength to present any risk or hazard to health," Gupta said at an interactive session on EMF radiation on human health.
 
The officials informed that various international organisations, including the WHO, have stated, in no uncertain terms, that there was "no convincing evidence linking EMF exposures with health effects in adults or children". 
 
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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Nifty, Sensex deeply oversold – Monday closing report
Nifty is likely put in a significant rebound if it closes above 7,550
 
We had mentioned in last week’s closing report that Nifty, Sensex are deeply oversold and that Nifty has to close above 7,600 for a rally to materialise. The market indices fell by more than 1% due to global cues.  The major indices of the stock markets are given in the table below:
 
 
Falling exports, coupled with a slump in global crude oil prices, accelerated selling pressure in the Indian equity markets on Monday and led the benchmark indices to their lowest close in the last 20 months. The selling frenzy led both the bellwether indices of the Indian equity markets to end the day's trade at levels last seen during May 2014. They even touched their new 52-week low during the intra-day trade. Overall, the market breadth ended with extreme weakness -- as seven shares declined for every one share that advanced. The selling pressure was stoked by disappointing December exports' data, which touched a 13-month low, absence of fresh triggers and bearish global cues. Furthermore, investors were seen cautious regarding the upcoming global macro-economic data from China, the UK and the US.
 
On Tuesday, the US is expected to release its consumer price index (CPI), while China comes out with its index of industrial production (IIP) and GDP (gross domestic product) data points. Besides, long-liquidation positions and disappointing macro-data which was released earlier in the week eroded investors' hopes for an interest rate cut during the upcoming monetary policy review of the apex bank.
 
Initially, both the Indian bellwether indices opened on a negative note, following lower closing of the US markets on Friday when they crashed by more than 2%. However, both indices soon pared their initial losses on the back of positive European markets, expectations of healthy Q3 results and short-covering. In addition, prices were supported by Prime Minister Narendra Modi's Start-Up India Action Plan which was released on Saturday.
 
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed lower by 267 points or 1.09% -- its lowest closing since 16 May 2014.
 
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day's trade deep in the red. It was down by 86.80 points or 1.17% at 7,351 points -- its lowest closing since 30 May 2014. 
 
The NSE Nifty breached the psychological level of 7,400 points during the day's trade. It also touched a new 52-week low at 7,336.40 points. 
 
The S&P BSE Sensex, which opened at 24,400.78 points, closed at 24,188.37 points -- down 266.67 points or 1.09% from the previous day's close at 24,455.04 points.
 
During the intra-day trade, the Sensex touched a high of 24,524.85 points and a low of 24,141.99 points -- its new low in 52 weeks.
 
The S&P BSE market breadth favoured the bears -- with 2,424 declines and only 305 advances.
 
Banking index reversed in late trade after a minor pull back confirming the bearishness dominant in banking shares.
 
Sector-wise, shares of healthcare, capital goods, automobile, banking and consumer durables came under selling pressure.
 
The S&P BSE healthcare index plunged by 305.93 points, capital goods index receded by 256.13 points, automobile index declined by 246.43 points, banking index slumped by 199.81 points and consumer durables index edged-lower by 120.27 points.
 
The foreign institutional investors (FIIs) were net sellers during the day's trade, while domestic institutional investors (DIIs) were net buyers. According to data with stock exchanges, FIIs divested Rs1,203.84 crore, while DIIs bought stocks worth Rs1,122.80 crore.
 
Apart from equities, the rupee got battered in the day's trade. It touched a new 28-month low. It ended weaker by nine paise at 67.68-69 to a US dollar from its previous close of 67.60 to a greenback. 
 
Major Sensex gainers during Monday's trade were BHEL, up 4.29% at Rs142.35; Tata Steel, up 2.76% at Rs236.25; Tata Consultancy Services (TCS), up 0.84% at Rs2,282.45 and Wipro, up 0.72% at Rs547.35.
 
Major Sensex losers during day's trade were Reliance Industries, down 5.14% at Rs1,018; Bajaj Auto, down 3.29% at Rs850.60; Asian Paints, down 3.29% at Rs850.60; Cipla, down 2.72% at Rs590.85; and ONGC, down 2.12% at Rs.214.90.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of Asian indices are given in the table below:
 
 

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