Stocks
Nifty, Sensex, Bank Nifty headed lower – Tuesday closing report

Nifty has to head above 8,760 for the first signs that the current decline is arrested

 

In our Monday’s market reportwe stated that the benchmark indices—the S&P BSE Sensex and the NSE’s CNX Nifty may be headed lower. Bearish sentiments took over the market in the latter part of Tuesday’s trading session, leading to a decline in the benchmark indices. The overall sentiment in the Indian market remained weak after a steep fall registered a day before. Global market fears affected the indices back home.

 

Expectations of a mid-year rate hike by the US Federal Reserve and fresh concerns over Greece's bailout deal weighed down on stock markets globally. Most Asian and European indices either closed lower or were trading in the red.

 
The Nifty opened the day’s trade marginally higher at 8,770 compared to previous day’s close of 8,757. But soon, the index was pulled lower. There were a couple of occasions when the 50-share index moved in to the black, but the fight back was weak. Post-lunch is when investors turned bearish, dragging the Nifty to an intra-day low of 8,677. In the last half hour of today’s session, the market regained some strength to move higher and closed at 8,712 44.70 points or 0.51% lower compared to Monday’s close.
 
The movement on the 30-share Sensex was no different. The index opened higher at 28,924 compared to Monday’s close of 28,845. The 30-share index managed to hit an intra-day high of 28,949 during the first half, but the second half of today’s trade was dominated by the bears. The index fell to an intra-day low of 28,585. But soon, after hitting this bottom, Sensex regained strength to close the day at 28,709.87 down 134.91 points or 0.47%.
 
Foreign institutional investors (FIIs) were net sellers of Rs748 crore. Domestic institutional investors were net buyers of Rs290 crore on Tuesday.
 
Among the 50 stocks present on the Nifty, 32 declined while 17 stocks moved higher and one remained unchanged. The top gainers on the Nifty were Bharti Airtel (6.87%), Coal India (4%), NMDC (1.96%), Mahindra & Mahindra (1.93%) and Zee Entertainment (1.74%). The losers were DLF (-4.44%), HDFC (-3.62%), Jindal Steel (-2.54%), Hindustan Unilever (-2.10%) and Hindalco (-2.06%). On the Sensex, nine stocks gained while the remaining 21 declined.
 
The Bank Nifty declined by 0.48% to close at 19,054. Federal Bank fell the maximum, by 3.11%. Bank of India (-1.35%), Kotak Mahindra Bank (-0.93%), Canara Bank (-0.84%) and Axis Bank (-0.78%) closed in the red. The top gainers were Punjab National Bank (1.21%), IndusInd Bank (0.94%) and Yes Bank (0.73%).
 
Telecom stocks, including those of market leader Bharti Airtel, gained significantly; as analysts pointed out that the bidding intensity in the ongoing spectrum auction has reduced drastically.
 
Auto stocks gained on data released by the Society of Indian Automobile Manufacturers (SIAM). Domestic passenger car sales grew by 6.85% to 1.71 lakh units in February this year as compared with 1.61 lakh units in the same month of 2014. Total sales of commercial vehicles were up 10.1% to 52,843 units from 47,982 units in the year-ago period. Though total sales of vehicles across categories registered a growth of 0.15% to 15.26 lakh units in February 2015 as against 15.24 lakh units same month last year.
 
The industry body expects a significant increase in demand for medium and heavy goods commercial vehicles (M&HCVs) driven due to government's push to kick start infrastructure projects. They also expect a revival in demand for vehicle, which is likely to drive up commodity prices for automakers. Ashok Leyland (3.58%), Exide Industries (2.81%) and Eicher Motors (2.07%) were the top three gainers on the CNX Auto index.
 
Most of the sector indices on the NSE closed in the red. CNX Realty, CNX Finance, CNX Energy, CNX PSU Bank and CNX FMCG fell by 2.02%, 1.34%, 1%, 0.66% and 0.50% respectively. Among the top five sector gainers were CNX Metal (0.56%), CNX Media (0.54%), CNX Infra (0.44%), CNX PSE (0.34%) and CNX Auto (0.34%).
 
Of the 2,965 stocks traded on the BSE, 1,223 stocks advanced, 1,629 stocks declined, while 113 stocks remained unchanged. 
 
The rupee too was weak, as the dollar strengthened on talks of the Fed’s rate hike. The rupee traded at Rs62.7225/$, 0.29% higher compared to its previous close of Rs62.5437/$. The 10-year benchmark government bond yield closed at 7.75% up 0.12% from yesterday’s close.
 
The US dollar hit multi-year highs against the euro and yen on Tuesday, affecting the stocks in the region as well. The dollar was at a 12-year peak versus the euro and a seven-year peak against the yen.
 
Among other world indices, top Asian indices closed lower. China’s Shanghai (-0.46%), Hong Kong’s Hang Seng (-0.94%) and Japan’s Nikkei (-0.67%) were the top three losers.
 
European stocks were trading lower despite the European Central Bank's new bond buying campaign. UK’s FTSE 100 was down 1.56%, Germany’s DAX was down 1.33% and France’s CAC 40 was down 1.18%. US stock index futures too were trading nearly 1% down. 
 

 

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Parkinson’s: Education, support from government and corporates is key to ensure treatment for all
Speaking at International Women’s Day at Moneylife Foundation, Dr Maria Barretto feels that with financial and infrastructure support from the government and private sector, we can help all those suffering from Parkinson's disease in India
 
“We need more education about Parkinson's in India,” said Dr Maria Barretto, after her felicitation at the International Women's Day celebrations organised by Moneylife Foundation. With financial and infrastructure support from the government as well as the private sector, she said we would be able to help all those suffering from Parkinson's disease in India. 
 
Dr Barretto, chief executive of the Parkinson's Disease and Movement Disorder Society (PDMDS), has developed a 'community based multidisciplinary model of care' to reach out to patients who have limited or no access to medical care.
 
In her speech, she highlighted the importance of educating people about Parkinson's in order to ensure early detection and medical assistance. She also urged corporates to get involved in the cause to help PDMDS expand its reach and provide therapy and medical care to people all over the country. She suggested that it is possible to extend help through the corporate social responsibility (CSR) route that is available to all corporates. She also mentioned that government support is absolutely essential in ensuring that assistance can be provided to all citizens. 
 
The fact of the matter is that there is little awareness about Parkinson's in our country. Most people resign themselves to a life of dependence and handicap as soon as they learn the diagnosis. And while it is incorrect to claim that there is a permanent cure for the disease, it is possible to manage it. 
 
Many of Dr Barretto's patients have fought the disease and significantly decreased the rate of neural degeneration. In fact, several patients being treated at PDMDS personally came to attend the event, and witness their doctor being felicitated by Union Minister for Commerce and Industry Nirmala Sitharaman. 
 
The mode adopted at PDMDS for treatment of Parkinson's is a multi-pronged approach that aims to improve the overall quality of life for the patients. And because the treatment is provided through a group-therapy approach, it is highly cost-effective. This program is currently being conducted at 15 centres across the city of Mumbai and has two more centres in Maharashtra. It has also been initiated in three other states in the country - Goa, Gujarat and Andhra Pradesh.
 
Dr Barretto has been invited to speak at the World Congress of Neurology in Vienna in 2013, and the World Parkinson's Congress in Montreal.
 
Here are the contact details of PDMDS: 
Parkinson's Disease & Movement Disorder Society 
6, Jasville, 1st Floor, 
Opposite Liberty Cinema, 
Marine Lines, Mumbai, 
Maharashtra, India 400020
 
Phone: 022-24977477
 
 

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Govt formulates selection criteria for sportspersons in international events

According to the criteria, past 12 months performance of the sportspersons should not be less than the performance achieved by the 6th position holder of the previous event

 

The Ministry of Youth Affairs and Sports has formulated the selection criteria for sportspersons and teams for participation in international sports events. 
 
According to the criteria, performance of the sportspersons in the individual events during the past 12 months prior to commencement of the event should not be less than the performance achieved by the 6th position holder of the previous edition of the respective tournament in measurable sports. 
 
The formula would be used to decide participation in multi-disciplinary sports events such as Olympic Games, Winter Olympics, Asian Games, Commonwealth Games, Asian Indoor Games, Asian Beach Games, Youth Olympics, Asian Youth Games, Commonwealth Youth Games and Paralympics and Para-Asian Games.
 
For team events, only those teams, which have achieved ranking up to 8th among participating countries of the concerned tournaments in the last one year, would be considered for participation in the respective tournaments. 
 
In non-measurable individual sports, the sportspersons must have achieved 6th rank in the last 12 months. 
 
In the sports events, where rankings are not maintained or where sportspersons have not been able to improve their ranking on account of reasons like lack of exposure in international tournaments, appropriate criteria may be adopted by the National Sports Federation (NSF) in consultation with this Ministry. 
 
In the sports competitions, where the number of participants is limited, stricter norms of selection will be prescribed. 
 
In a letter sent to Indian Olympic Association, Paralympic Committee of India and National Sports Federations, the Ministry said, "On the issue of participation of sportspersons at no cost to government, only the sportspersons, coaches and support staff approved by the Ministry and Sports Authority of India (SAI) will be part of the contingent for the events cleared at cost to the government and no additional sportspersons, coach and support staff will be included even at no cost to government in such sports competitions." 
 
The selection criteria will be applicable for multi-disciplinary international sports events irrespective of whether the participation of Indian contingent has been cleared at cost to the Government or at no cost to the Government. 
 
The letter said, IOA is also requested to formulate guidelines for inclusion of support personnel such as coaches, physiotherapists, doctors, masseurs, managers and contingent officials. IOA and SAI should ensure that only those support personnel are considered for Indian contingents who have worked with the sportspersons in camps or have the necessary credentials and experience and are eligible as per the rules and guidelines of the International Olympic Committee (IOC), Olympic Council of Asia (OCA), Organizing Committees of the Games and respective International Federations. 
 

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