Technology
LookFor: Get Spotted in a Sea of Faces
This is one of the dumbest apps you could have, but probably the most useful for being found! This app is so painfully simple that you will wonder why no one thought of it before. When you launch the app, you select a colour and then, the screen flashes that colour over and over again.
 
Planning where to meet your friends is easy; but how do you quickly find them if you’re meeting them in a bar, a movie theatre or any other large, crowded location? Or maybe on the road at night. Just launch LookFor and flash it over your head. Waiting at the airport to receive some friends? Flash LookFor and your friends will spot you in the sea of faces instantly. LookFor is available for iPhones and Android handsets. Amazingly simple, dumb and useful—just look for LookFor! 
 

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Two-year jail term for Chennai Port Trust ex-chairman for graft
Former Chairman of Chennai Port Trust K. Suresh was sentenced to two years rigorous imprisonment by a CBI court in a graft case, a statement from CBI said on Wednesday.
 
In a statement issued here, the CBI said Suresh was sentenced to a two-year rigorous jail term for obtaining sponsorship for his son's admission to BE (Civil Engineering) valued at Rs12 lakh in 2009.
 
Suresh obtained the sponsorship from Vijayashanti Builders who were running two weigh bridges in the premises of Chennai Port Trust.
 
A fine of Rs10,000 was also imposed on Suresh.
 
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 continue to head higher: Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty and Sensex, which ended on a flat note were losing steam. Indian shares climbed to a near three-week high as a gauge of lenders snapped its two-day losing streak and automakers extended their rally. The S&P BSE Sensex gained nearly 1% to 26,652 and the NSE Nifty advanced 1% to 8,224. Both the indices have gained for a fourth straight session, with the Nifty closing above the 8,200-mark for the first time since 11 November.
 
 
The market breadth was firmly in favour of the buyers at 1,765 advances against 827 declines and 202 stocks remained unchanged.
 
Banks were the big gainers, led by ICICI Bank (+3.1%), IndusInd (+3%) and SBI (+1.6%). Meanwhile, the CNX IT index bucked the rising trend, losing 0.1% and in the process extending its losing streak to day three. The S&P BSE SmallCap index outperformed its larger peers, rising little over 1%.
 
The top gainers and top losers of the major indices are given below:
 
 
 
 India's fiscal deficit for the April-October period of the current financial year stood at Rs4.23 lakh crore, or 79.3% of the budget estimate, data released by the Controller General of Accounts showed on Wednesday.
 
The total budgeted estimate for financial year 2016-17 stands at Rs5.34 lakh crore which translates to 3.5% of the gross domestic product. The deficit was 74% of the target in the same period of the previous financial year. Non-tax receipts generated by the end of October stood at Rs1.6 lakh crore, which is 52% of the budgeted estimate of Rs3.2 lakh crore, data showed.
 
Total receipts (from revenue and non-debt capital) of the government stood at Rs7.3 lakh crore or 50.4% of the budgeted estimates for the current financial year.
 
The government has also stuck to front-loading its spending calendar, with the total expenditure at Rs11.5 lakh crore, or 58.2% of the full-year estimate in the first seven months of the current financial year. Non-planned expenditure constituted Rs8.1 lakh crore of the total amount. 
 
The Indian economy grew at 7.3% in the second quarter of the current fiscal year, lower than the 7.5% forecast by economists. While slightly weaker than expected, the growth trend has so far has been in line with the forecast of achieving 7.6% growth this fiscal. This could change with growth seen weakening in the third and fourth quarters of the year due to the impact of demonetisation.
 
The country’s gross domestic product grew 7.3% in the July-September quarter compared to 7.1% in the previous quarter. Gross value added, a second way to judge growth in the economic activity, rose 7.1% during the quarter.
 
The closing values of the major Asian indices are given in the table below:
 

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COMMENTS

Kunal Singh

6 days ago

does it look like a bull trap?

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