A research conducted by the University of Bergen, Norway, revealed that Facebook addiction occurs regularly among younger than older users. It was also found that people who are anxious and socially insecure use Facebook, probably because they find it easier to communicate via social media than face-to-face
Women are more likely to develop Facebook addiction while ambitious people are at less risk, reveals a new research conducted in Norway. While many of us would accept to be hooked on social media, chances of Facebook being the most addictive networking site are high. And to measure this increasing trend of Facebook addiction, Norway-based researchers have developed a new instrument named the Bergen Facebook Addiction Scale.
Cecilie Schou Andreassen, doctor of psychology, who is heading this first of its kind research project-Facebook Addiction-at the University of Bergen, Norway (UiB), explains, "It occurs more regularly among younger than older users. We have also found that people who are anxious and socially insecure use Facebook more than those with lower scores on those traits, probably because those who are anxious find it easier to communicate via social media than face-to-face."
Ms Andreassen adds, "People who are organised and more ambitious tend to be less at risk from Facebook addiction. They often use social media as an integral part of work and networking."
The research also found out that women are more prone to Facebook addiction and the symptoms of Facebook addiction are similar to those of drug addiction, alcohol addiction, and chemical substance addiction.
According to the research, Facebook addiction was related to extraversion. People with high scores on the new scale further tend to have a somewhat delayed sleep-wake rhythm.
The Bergen Facebook Addiction Scale, developed at the UiB, Faculty of Psychology, in collaboration with the Bergen Clinics Foundation (Norway), is based on six basic criteria:
All the six items are items are scored on the following scale- 1 for Very Rarely, 2 for Rarely, 3 for Sometimes, 4 is for Often, and 5 for Very often.
Ms Andreassen's study reveals that scoring of 'Often' or 'Very Often' on at least four of the six items may suggest that you are a workaholic.
In January 2011, 423 students-227 women and 196 men-participated in tests for the Bergen Facebook Addiction Scale. UiB in a release said that, "The scale can facilitate treatment research, clinical assessment and can be used for the estimation of Facebook addiction prevalence in the general population worldwide."
The Nifty may hit 4800
The market settled near the lows of the day on selling in capital goods, IT and banking stocks and concerns about the lingering European debt crisis. Yesterday we had mentioned that the Nifty may dip a bit and then rally. The index has already seen a fall from the intraday high of 5,280 on 2 May 2012 to today's intraday low of 4,984. The benchmark may now see a further fall to the level of 4,800. The National Stock Exchange (NSE) saw a volume of 64.87 crore shares.
The market, which witnessed a splendid recovery yesterday after the government clarified its position on the proposed tax issues, opened flat today as IT services major Cognizant lowered its revenues and profit guidance for the fiscal 2012. The Nifty opened trade at 5,115, up one point over its previous close and the Sensex added three points to its previous tally to resume trade at 16,916.
Cognizant Technology Solutions reduced its guidance for FY2012 to 20% from 23% reported earlier on the back of muted demands.
The market hit its intraday high in initial trade itself with the Nifty touching 5,120 and the Sensex crawling up to 16,918. Volatility continued in subsequent trade with the benchmarks staying in the negative.
The indices recovered from their early lows but selling pressure once again pushed the market further southwards. The negative opening of the key European benchmarks added to the woes of the domestic market in noon trade.
News of global banking major JP Morgan downgrading TCS to 'neutral' from 'overweight' spooked the IT and technology sectors in trade today. The market tumbled over 2% in late trade to the day's low. At this point, the Nifty fell to 4,894 and the Sensex tumbled to 16,502.
The benchmarks settled a tad above the lows. The Nifty erased 114 points to close at 5,000 and the Sensex tumbled 367 points to finish at 16,546.
The advance-decline ratio on the NSE was negative at 546:1114.
While the broader indices also ended lower, they outperformed the Sensex with the BSE Mid-cap index declining 1.28% and the BSE Small-cap index closing 0.87% down.
Today's rout saw all sectoral indices settling lower. The top losers were BSE Capital Goods (down 3.44%); BSE IT (down 3.09%); BSE Bankex (down 2.84%); BSE TECk (down 2.62%) and BSE Power (down 2.52%).
The Sensex toppers were Coal India (up 2.04%); GAIL India (up 1.63%); Hindalco Industries (up 1.16%); Hindustan Unilever (up 0.29%) and DLF (up 0.16%. The losers were led by TCS (down 5.77%); BHEL (down 4.86%); ITC (down 3.97%); Tata Motors (down 3.88%) and Larsen & Toubro (down 3.70%).
The top gainers on the Nifty were GAIL India (up 1.91%); Coal India (up 1.52%); Hindalco Ind (up 1.38%); SAIL (up 0.70%) and HUL (up 0.26%). The key losers on the index were Jaiprakash Associates (down 8.77%); Reliance Infrastructure (down 5.94%); TCS (down 5.75%); HCL Technologies (down 5.56%) and Kotak Mahindra Bank (down 5.16%).
Markets in Asia, with the exception of China and Hong Kong, settled in the positive on hopes that Spain would boost its banks with liquidity and on firm corporate earnings reports. However, caution over the precarious situation in Europe put a cap on the gains.
The Jakarta Composite gained 0.53%; the KLSE Composite rose 0.36%; the Nikkei 225 climbed 0.69%; the Straits Times advanced 0.24%; the KOPSI Composite was up 0.54% and the Taiwan Weighted added 0.10%. Bucking the trend, the Shanghai Composite fell by 0.12% and the Hang Seng declined 0.25%. At the time of writing, the key European indices were down between 0.22% and 1.86% and the US stock futures were in the negative, indicating a soft opening for the US markets.
Back home, foreign institutional investors were net sellers of shares amounting to Rs630.81 crore on Monday while domestic institutional investors were net buyers of equities totalling Rs273.77 crore.
Generic drugmaker Cipla is looking into cutting prices of more cancer drugs after it slashed the prices last week of three treatments by up to 75% The company, which makes 23 cancer drugs, is working out the pricing, costing and other aspects before announcing further revisions. The stock fell 0.53% to close at Rs325.80 on the NSE.
Wind turbine maker, Suzlon Group, has signed a Rs305.32-crore contract with Gujarat Mineral Development Corporation for setting up a 50-MW project. The plant will be located in Jamnagar district of Gujarat. Suzlon Energy tanked 3.42% to close at Rs21.20 on the NSE.
A recent research report reveals a possible attempt to push the price of Vikas WSP. SEBI which should have the institutional memory of rampant price rigging in this scrip by a scam-tainted top broking house in the late ‘90s, remains unconcerned
A research report, rather a shameless 'promo' report, doing the rounds on the Internet calls Vikas WSP a "slumdog millionaire stock"-driven by guar demand, a wonder agricultural produce that is now being used as an ingredient for shale gas exploration. A decade ago, guar gum was put out as being of the key ingredients used in drilling for crude oil. The stock then fell from Rs1,500 to a few rupees before getting delisted. Such reports/promos are produced when satta operators want to push the stock up and suck retail investors in. Once this promo was flashed, volumes spiked.
In line with the market, the stock has now been trending down, hitting a couple of lower circuits on the way, to Rs58.15 after the stock had skyrocketed from Rs18.05 to a high of Rs74.25, a 311% jump in a matter of months. On the way down the stock has alternately hit upper and lower circuit filters. This is not a normal price movement that should have alerted the market regulator.
Presumably to support the prices, the company had announced, on Bombay Stock Exchange (BSE), on 30 April 2012, that it has started building a new plant on 28 April 2012 at Jodhpur (Boronada Industrial Area). Its annual production capacity would be 38,400 metric tonne and would generate an export turnover of Rs4,608 crore. This astounding claim should have been investigated by BSE but then the stock exchange is the first line of regulator only in name. What is pertinent to note over here is that this very forward looking information was mentioned in the 'promo', well in advance, before Vikas WSP made the official announcement on the exchange. The 'promo' report was distributed in beginning of April.
Earlier this year, guar futures were banned by commodity exchanges acting on the behest of the Forward Market Commission (FMC) on allegations of massive price rigging. According to media sources, the FMC had submitted an interim report to the ministry of consumer affairs. Vikas WSP has issued a denial, filing an update on BSE, stating that it was not blamed by the FMC for price rigging in guar futures. The announcement even made a statement to pacify shareholders by saying that it does only physical business and physical export. It concluded that it had 'nothing' to do with FMC enquiry.
We had earlier written about the company's meteoric rise in its stock price on 13 April 2012. The same can be accessed here: Infamous Vikas WSP being manipulated again while SEBI sleeps?
But since the market regulator has decided to continue with its policy of see no evil, read no evil, operators in Vikas WSP will continue to have a field day.