Stocks
Nifty, Sensex headed lower – Monday closing report
Only a close above 8,550 can put Nifty back on the uptrend
 
We had mentioned in Friday’s closing report that the Indian indices were moving sideways, while the market struggled to gain the momentum for a rally. In Monday’s trading too, the major indices in the Indian stock market made marginal losses at the end of the day with no significant highs during the day. While both the benchmarks, NSE’s CNX Nifty and S&P BSE Sensex ended the day marginally down, a close above 8,550 can put the 50-stock Nifty back on the uptrend. 
 
 
Sentiments turned bearish on the eve of the release of key economic data points, leading to a barometer index of the Indian equity markets closing flat on Monday.
 
The 30-scrip S&P BSE Sensex around 135 points or 0.50%. The wider 50-scrip NSE CNX Nifty also ended the day's trade in the red. It edged lower by 39 points or 0.46% at 8,525.60 points.
 
The S&P BSE Sensex, which opened at 28,250.78 points, closed at 28,101.72 points -- down 134.67 points or 0.48% from the previous day's close at 28,236.39 points.
 
Analysts observed that the equity markets had made initial gains on the back of data, which showed a slowdown in the US jobs growth in July. This data is expected to deter the US Federal Reserve from raising interest rates in September or to wait until December. 
 
With higher interest rates in the US, the FPIs (Foreign Portfolio Investors) are expected to be led away from emerging markets such as India.
 
The US economy added 215,000 new jobs last month. In June, the employment figures went up by 231,000, while during May the figure stood at 260,000.
 
However, the initial gains in Indian markets were soon wiped-out, as investors became anxious over the upcoming key economic data points of Consumer Price Inflation (CPI) and Index of Industrial Production (IIP). 
 
Analysts added that the markets were upset over the logjam in the Parliament. The monsoon session of the Parliament ends on 13th August with fate of key legislations like the GST (goods and services) or the Land bill hanging in the balance.
Sector-wise, all 12 sub-indices of the S&P BSE except the realty index ended in the red.
 
The S&P BSE capital goods index decreased by 118.87 points, followed by consumer durables index which receded by 104.76 points, oil and gas index declined by 93.69 points, metal index edged-lower by 90 points and fast moving consumer goods (FMCG) index fell by 53.61 points.
 
However, the S&P BSE realty index edged higher by 11.87 points.
 
The top gainers and losers of major indices in the stock markets are given in the table below:
 
 
The closing values of major Asian indices are given in the table below:
 
 
Among European indices, FTSE 100 was at 6,665.16, down 0.79% and DAX was at 11,533.86, up 0.38%. Athex Composite Share Price Index was at 686.17, up 1.45%.
 

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Public Interest Exclusive
Can we follow Indian numbering system for simplicity and good order?
For the sake of uniformity, simplicity and good order, it is desirable to follow the domestic system of numbering by all organisations that have a responsibility to report their financials to the Indian public at large
 
Though in India we use English language in all our business communications, in so far as writing of numbers is concerned, we mostly use the Indian system in our daily life. Even in our schools and colleges Indian systems of numbering is generally taught, and this is generally the norm in all financial reporting of facts and figures. However, as there appears to be no guidelines in this regard so far, we find that a few organisations and institutions still publish their statistics in English system, which might cause some amount of confusion while interpreting the figures, particularly if we are not well versed in the English system. 
 
For example, the exact way of writing Indian and English numbers is as under:  
 
 
The Indian numbering system is written differently and sounds differently too when it reaches six digits. The positioning of ‘coma’ in written form is slightly different between the two systems as seen above.
 
The Central Government publishes all its statistics in the Indian system in lakhs and crores, and in all its annual budgets too, the figures are mentioned as per the Indian system. All the public sector organisations publish their reports using only the Indian system of numbers, so also all the public and the private sector banks in the country.  
 
The Securities & Exchange Board of India (SEBI) follows only the Indian system of numbers in all its statistical reports and other communications. Only while referring to the foreign investment flows and with regard to statistics relating global depository receipts (GDRs) and American depository receipts (ADRs), that they naturally refer to the English system of millions and billions, as it is stated in foreign currency, mostly in US dollars.
 
However, in the absence of clear cut guidelines from SEBI, some of the listed companies, particularly those having foreign parentage, publish their quarterly and annual reports using the English system of numbers, though majority of the companies use only the Indian system.
 
RBI is the lone exception:  
The only exception is Reserve Bank of India (RBI), which has been publishing most of its reports on banking statistics using only the English system with figures mentioned in millions and billions. Sometimes, we even see casual press releases and other communications of RBI mention the figures in the English system. The last annual report as on 30 June 2014 of RBI submitted to the Government contains most of the banking statistics in rupees but this is expressed using English system i.e. in millions and billions. This system of publishing the reports in English system may be derived from the British era as RBI was set up during the British rule.  In fact the first two Governors of RBI were British nationals. Sir Osborne Smith was the first Governor of RBI from 1 April 1935 to 30 June 1937 and was followed by Sir James Braid Taylor who continued as Governor till 17 February 1943. Possibly the English system of numbering started during their tenure is continuing even today in RBI, though all subsequent Governors of RBI are Indians. Sir CD Deshmukh was the first Indian Governor from 11 August 1943 to 30 June 1949.
 
However, almost all the banks both in the public and private sector publish their quarterly and annual reports using only the Indian system. 
 
Need to educate our children in both the numbering systems:
Recently, during the summer camp of high school children, one of the teachers asked questions on English numbering system, which many children were not aware of. It is not their fault as English system of writing numbers may not taught in most of the schools at present. But one of the parents is said to have commented that it was too much for children to learn so many different systems followed in different countries. Contradicting this, another parent is reported to have said that if our children can learn three languages from their early age, it should not be difficult for them to learn both the numbering systems simultaneously. 
 
With globalisation of Indian economy, there is ample scope for our people to participate in the global trade. In fact, it is estimated that India will have surplus manpower of four to five crores over the next decade, and India is expected to be the biggest supplier of workforce to the world in the coming years. It is, therefore, necessary for our youth to be prepared to tackle global challenges. Obviously, it is advantageous for our children to be equipped with certain amount of general knowledge on global finance at least at the post secondary level of education, if it is not done already.  
 
Standardising all reports under the Indian system is helpful for general public:
Notwithstanding what is stated above, in the interest of standardising all the statistical information and to maintain uniformity in financial communications, it is desirable that RBI too follows the Indian system in all its publications, particularly when the figures are in rupees, thereby making it easy and simple for the public to interpret the figures released by all institutions in our country. RBI, if it so desires, can always publish their reports in two separate formats, one using the Indian numbers for the Indian public and the other using the English numbers for the use of foreign Central banks, who might prefer to read in their own system.  
 
SEBI too may issue guidelines that all listed companies should publish their quarterly and annual reports using Indian system of numbers, though they are free to publish such reports in their own websites under both the Indian and English systems for the benefit of their foreign partners and investors, 
 
Though conversion from one system to another is quite easy, for the sake of uniformity, simplicity and good order, it is desirable to follow the Indian system of numbering by all organisations that have a responsibility to report their financial performance to the Indian public at large.
 
(The author is a financial analyst, writing for Moneylife under the pen-name ‘Gurpur’.)

User

COMMENTS

Bapoo Malcolm

2 years ago

This would be going against the tide. In a global village, the western system must prevail. There too, the introduction of a comma instead of the dot, in referring to decimals, causes concern.

I grew up at the cusp of metrication. 1957. The old system was such a pain; something that one realised only when one started using the metric system. Not until then.

If we do not want to keep up with the world, in short join it, there will be demands for more Indian systems. The annas, paisas and pies system. Or further back to the kos, the tola, the tipri, and whatnot. Even the 'cotter' in liquor is 250 ccs. Hopefully!

No, sorry. We have to adapt. Or be left behind. Moreover, the western is more symmetric. A comma after every three digits. Makes sense.

Standardisation is what the world at large is comfortable with.

Extreme Xenophobia can be dangerous.

REPLY

M S Prabhakar

In Reply to Bapoo Malcolm 2 years ago

Extremely well said! It took several generations to forget the 'anna' system. The 'lakh-crore' lingo is not understood by any nation outside of India, Pakistan, Nepal, Bangladesh and Sri Lanka.

I actually could not understand the real object of discussion in this forum. Is the objective to glorify and popularize the 'lakh-crore' lingo or is it to shift commas (in large figures) to help people who are familiar with 'lakh-crore' lingo? If it's the former, why do the champions of 'lakh-crore' lingo stop only with lakh and crore? They should also advocate use of 'arab' [100 Cr], 'kharab' [10,000 Cr], 'neel' [10 Lakh Cr], 'padm' [10 Cr Cr], 'shankh' [1 Lakh Lakh Cr], 'gulshan' [10,000 Cr Cr], etc. to thoroughly confuse people. If the objective is to to shift commas (in large figures) to help people who are familiar with 'lakh-crore' lingo to understand, I don't know what stops them. Microsoft Excel, for example, has already built this functionality to format large numbers, if one prefers. If you want to change the default format from millions to lakhs, you can change the Region and Language settings to English (India). Alternatively in Excel, you can also press Ctrl 1 to go to formatting and choose custom formatting, then custom format numbers to show commas after specific number of digits.

Standardization is a fast track to progress. When the day dawns when India would dominate world commerce and business, we could think about standardizing the world's vocabulary to 'lakh-crore' lingo. Till then, it's advantageous to us and the young generation of Indians who want to integrate with the world to go with 'million-billion-trillion' jingo.

Marks

2 years ago

RBI is exception because it is the "Rothschild bank of India". That is why. Rothschild stuck up to you know.

REPLY

M S Prabhakar

In Reply to Marks 2 years ago

I think your equation of RBI as India's Rothschild is an allusion to RBI's perceived "arrogance" (in some circles) over its recent policies. May I politely point out that RBI's recent policy decisions are considered as among world's most professional, evidence-based and politically agnostic. The current governor of RBI is a great champion of "arm's length" policy decisions, which makes many crony capitalists feel uneasy.

yogi

2 years ago

The Indian system is necessary, since the rural India knows only this. Surprisingly our system survived during 100 years of British rule, but not now. We have names for every number till 10 followed by ten zeros in sanskrit: which is a proud achievement. The Chinese would have made it as a rule to follow, but we are myopic enough to loose the advantage in the name of learning difficulty.

Meenal Mamdani

2 years ago

The author makes a very good point. I used to be baffled by the switch between the Indian and Western system every time I visited India.
Rather than pick one as more desirable why not request RBI to use both systems when they publish their data.
After all, there is nothing sacrosanct in the systems per se. Let us make things easier for the people who use them to make important decisions.

Himansu S M

2 years ago

NUMBERS & NOMENCLATURE
S.N. NUMBERS Power Western Indian General / Commercial
0 0 Of Ten Zero Shunya Shun
1 1 0 Unit Eka Ek
2 10 1 Ten Dasha Das
3 100 2 Hundred Shaha Shou
4 1,000 3 Thousand Sahasra Hazaar
5 10,000 4 Ten Thousand Ayuta Das Hazaar
6 1,00,000 5 Hundred Thousand Lakshya Ek Lakh
7 10,00,000 6 Million Niyuta Das Lakh
8 1,00,00,000 7 Ten Million Koti Karod
9 10,00,00,000 8 Hundred Million Arbuda Das Karod (Arab)
10 1,00,00,00,000 9 Billion Brunda Sau Karod
11 10,00,00,00,000 10 Ten Billion Kharba Hazaar Karod (Kharab)
12 1,00,00,00,00,000 11 Hundred Billion Nikharba Das Hazaar Karod
13 10,00,00,00,00,000 12 Trillion Shankha Ek Lakh Karod
14 1,00,00,00,00,00,000 13 Ten Trillion Padma Das Lakh Karod
15 10,00,00,00,00,00,000 14 Hundred Trillion Sagar
16 1,00,00,00,00,00,00,000 15 Quadrillion Antya
17 10,00,00,00,00,00,00,000 16 Ten Quadrillion Madhya
18 1,00,00,00,00,00,00,00,000 17 Hundred Quadrillion Pararddha
19 10,00,00,00,00,00,00,00,000 18 Pentallion

PRAKASH D. BASRUR

2 years ago

Absolutely relevant and useful suggestion ! We have followed the British systems like a true slaves ! Of course we had no choice of inventing our own standards, systems & procedures like the Japanese , Russians , Chinese & many other non-English European nations but to continue with the established British practices ! However , why give up counting numbers in Lakh ( even this is spelled as Lac !) & Crore , as was our practice from Arya Bhatta's time and which we are so used to in our day to day life ? It is like continuing with the British names for our cities & towns like Kirkee (for Khadaki ) , Jubbalpore (for Jabalpur), Poona (for Pune) and so on and so forth ! Isn't all such habits a slavish behaviour ? With 200 years under the British have we given up our age-old practices which prevailed long before the British & the Mughals ?

PRAKASH D. BASRUR

2 years ago

Absolutely relevant and useful suggestion ! We have followed the British systems like a true slaves ! Of course we had no choice of inventing our own standards, systems & procedures like the Japanese , Russians , Chinese & many other non-English European nations but to continue with the established British practices ! However , why give up counting numbers in Lakh ( even this is spelled as Lac !) & Crore , as was our practice from Arya Bhatta's time and which we are so used to in our day to day life ? It is like continuing with the British names for our cities & towns like Kirkee (for Khadaki ) , Jubbalpore (for Jabalpur), Poona (for Pune) and so on and so forth ! Isn't all such habits a slavish behaviour ? With 200 years under the British have we given up our age-old practices which prevailed long before the British & the Mughals ?

Ankur Bhatnagar

2 years ago

I greatly appreciate this article highlighting the need to standardise the numbering system. I find that most Indians are comfortable talking in terms of lakhs and crores as far as rupee amounts are concerned and in millions and billions for foreign currency. This is what I prefer too.

Psychologically, two digit (order of hundreds) is also a decent approximation for estimating numbers for a human mind. For example, we can feel the distinction between, say, 67 and 68 but the numbers 67.2 and 67.4 tend to be nearly same for human minds.

As an addition, I would also like to add the term 'arab' (100 crore) as part of the standard. There are two advantages to this: it makes it easier to state very large numbers, and secondly, it maps directly to billion. 5 arab = 5 billion. Billion has become a popular term for large numbers. For example, you can say the population of India is 1.3 arab, or movies having box office collections of Rs. 1 arab or more...

shrikant sundaram

2 years ago

This should be part of the PM campaign of Make in India. RBI probably is an international representation of Indian economy hence it follows the English number system but its important that Indian number system is followed consistently.

Pramod Bhave

2 years ago

Can we use this forum to request the software companies to make this option available to us for viewing the reports on our computer or tabs/phones for uniformity. Thanks
Bhave

sivaraman anant

2 years ago

I couldn't agree more! Even some PSUs a few years ago were reporting in millions and billions, ostensibly to cater to the FIIs investing in it, ignoring in-house and minority shareholders' suggestions.
I am unsure, but the change came probably after a welcome govt. diktat!

R S Murthy

2 years ago

Numbers are taught to children from primary education level. Indian system after first 3 zeroes, a cama is put later for every 2 zeros. British system after 3 zeros. Is it not our over enthsiasm to change the primary education systems all over the world.In the process of evolution things will get automatically adjusted and fit into place.There are so many calenders in the world but people got adjusted to Jan to Dec. When one tries to interfere there will be resistancde. Allow nature to take its own course.

M S Prabhakar

2 years ago

Indian numbering system is confusing and is best to avoid. Western numbering system is simple to remember and calculate (orders of 1,000). RBI is right to follow the Western system because it allows least confusion in calculations and communications involving money matters.

REPLY

Kalpesh Shah

In Reply to M S Prabhakar 2 years ago

How? Can you give an example of where it confused you?

M S Prabhakar

In Reply to Kalpesh Shah 2 years ago

When converting between thousands, millions, billions and trillions, one just needs to shift in units of three zeroes -- much like converting between kilos and tonnes, litres and kilolitres, metres and kilometres, or any other metric unit. Why should we regress to a complex method of mental calculation when we, as a nation, have successfully converted to the metric system? Fortunately, an average Indian's mind is more tuned to metric methods of calculation than an average American or Britisher who still uses the foot-pound-ounce-gallon system that is complex for mental calculations. Hence adopting million-billion-trillion way for ₹ is a more sensible approach than shifting commas to suit our lakh-crore vocabulary.

Essential Apps for Android
Several useful and free apps are available to make your mobile a personalised device
 
So you have bought yourself a brand new Android mobile handset and are set to explore its features. Although all mobile handsets do have pre-installed apps for most of the features, they are inadequate. For example, there is an in-built video player in every smartphone, but it does not give options to control playback, resume or zoom. Therefore, you need to get a free app, like MX Player or VLC Player, from the apps store or buy its paid version. Assuming that you are using a new Android handset, here are some of the essential, and feature-rich apps, for everyday usage:
 
1. Anti-virus: The two free apps mentioned below are listed as top grossing in Google Play. Since both do their job as the name suggests, there is no need to buy an anti-virus app by paying a few hundred rupees.
a. Avast Antivirus & Security: This is probably one of the best anti-virus apps that also offers anti-theft solution. 
b. Kaspersky Internet Security: This app offers anti-virus protection as well as anti-theft protection.
 
2. Backup & Restore: This is used for taking a backup of your installed apps, contacts, call logs and SMSs (short messages). Data in WhatsApp can be archived or emailed so there is no need to use external apps for it. 
a. Apps Backup: When it comes to backup of your installed apps, nothing works like ‘App Backup & Restore’. More than 10 million users have downloaded this small (3.62MB) utility—one of the more easy and simple utilities on which you can back up your installed apps and restore (reinstall), if required. 
b. Contacts/Call Logs/SMS Backup: 
i. Avast Mobile Backup & Restore is one of the good free utility apps that allows you to back up your contacts, call logs, SMSs and photos for free, at predetermined time interval or as per your choice. You can add a PIN (personal identification number) for protection as well. Except photos, all other data is backed up with Avast user account and can be restored.
ii. SMS Backup & Restore, developed by Ritesh Sahu, does what it says. It creates a backup locally or even on email, Google Drive or Dropbox. This can be used to restore your handset after reset or to load SMS data on a new device.
 
3. Music & Videos: For listening to songs or music, you can either use online services, like Saavn or Gaana, or use apps, like JetAudio Music player+ EQ Basic (more famous for its PC version). I would have liked to add Poweramp also, but its free version is actually a 15-day trial version. With free versions of Saavn and Gaana, you can listen to songs online or create a playlist, but cannot download for which you require a paid version. JetAudio’s free version offers 10-band graphic equaliser and various sound effects, like X-wide, reverb and X-bass. For videos, you can choose VLC media player or MX Player. While VLC is completely free, you can buy a paid (ads-free) version of MX Player. Over 100 million users have downloaded MX Player, while, for VLC, the number is over 50 million. 
 
4. Personalisation: The biggest advantage of using an Android device is the option to customise its look & feel. It can be achieved by using launcher apps, like Go Launcher, Lucid Launcher and CM Launcher. But most launchers offer few options to do any customisation in their free avataar. All these launcher apps are small in size (less than 6.21MB) but themes that you may want to add for personalisation may make the apps heavy in size. Google Now Launcher and Yahoo Aviate Launcher are two other worthy personalisation apps to note.
 
TIP: How to activate local language?
You need to disable ‘system language’ as the default option using the keyboard and then add local language (input), like Hindi, Marathi or Kannada. Go to Settings>Language. Check your current keyboard and input method and add any other language, as per your choice. 

User

COMMENTS

Pravesh Pandya

2 years ago

Yogesh, One shouldn't need an antivirus as long as one is on a app-install binge or browses unknown websites. If someone uses a list of well known apps and visits very few websites, anti-virus is not worth the overhead.

Also trusting any backup provider may not be the best option. What if they backup in their own servers?

While different from your suggestions, I generally refer to this list http://lifehacker.com/lifehacker-pack-fo... & http://lifehacker.com/lifehacker-pack-fo...

REPLY

Yogesh Sapkale

In Reply to Pravesh Pandya 2 years ago

Thanks for your comment, Praveshji.
AV turns out to be more useful since most of us, do share photos, videos, songs etc all the time. SO it is better to be safe than sorry.
Secondly, both Apps Backup & Restore and SMS Backup & Restore, save the backup files locally, even on the external microSD card. Avast offer to save it on their server. It up to individual choice whether to store backup locally or on cloud.
Hope this clears your doubt.
Thanks again,
Yogesh

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