Stocks
Nifty, Sensex may continue to rally – Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex were due for a bounce back. The major indices of the Indian stock markets soared on Tuesday and closed with gains of around 1.85%-1.89% over Monday’s close. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Value buying, coupled with broadly positive global indices and a strengthened rupee lifted the Indian equity markets during the mid-afternoon trade session on Tuesday. Besides, higher global crude oil prices and hopes of healthy quarterly results supported the upward trajectory at the key indices. On the NSE, there were 1,110 advances, 362 declines and 48 unchanged. On the BSE, there were 1,904 advances, 925 declines and 208 unchanged.
 
According to market analysts, IT (information technology), banking and pharma stocks traded firm. However, oil-gas stocks faced resistance at higher levels due to profit booking. Media-entertainment, FMCG, cement and power stocks witnessed some recovery due to short covering. 
 
Global credit rating agency Moody's Investors Service on Tuesday said the draft bill on the resolution of financial firms in India is a credit positive for banks in the country as it enhances overall systemic stability. In a statement Moody's said it is an important step to having a comprehensive framework in place for the resolution of financial firms. "Currently, the resolution of financial firms in India is based on minor parts of legislation enacted for other purposes," said Srikanth Vadlamani, a Moody's Vice President and Senior Credit Officer.
 
China's central bank on Tuesday pumped 80 billion yuan ($11 billion) into the money market via seven-day and 14-day reverse repos, after draining 174.5 billion yuan on Monday. The reverse repos is a process by which central banks purchase securities from banks with an agreement to sell them back in the future, Xinhua news agency reported. Data from Wind, a financial information provider, showed that a total of 90 billion yuan was purchased by the central bank on Tuesday, meanwhile there is 132 billion yuan of medium-term lending facility (MLF) and 80 billion yuan of treasury cash deposit at maturity.
 
The Odisha government on Monday said it would issue a notification for e-auction of four mines in the state within two-three days. "Once the notification is issued, the bidders would be invited to participate in the e-auction process," said Steel and Mines Minister Prafulla Mallick. He said three limestone mines and one manganese mine located in Rayagada, Nuapada and Malkangiri districts would be auctioned. He said reserve and bidding price of these mines has been decided.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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How a USD15 device can hack US presidential election
During its "Hack the Vote" election simulation, cyber security firm Symantec has revealed three easy ways an attacker with the right level of intelligence and motivation could impact the US presidential election and it will cost just $15.
 
To analyse the ecosystem of an election -- from electronic voting machines to data transfers, vote tabulation and broadcasting the results -- the company tested the actual direct-recording electronic (DRE) voting machines and other equipment to simulate a real-world voting system. 
 
According to the general process, voters use a chip card to cast their vote. Once someone has voted, the same card is re-used by the next voter. 
 
"Just like credit cards, these cards are essentially a computer with its own RAM, CPU and operating system. Which means they can be exploited like any computing device," the company said in a statement.
 
"In examining the election process for vulnerabilities, we discovered that there's an opportunity for a hacker to modify the code put on a voter's chip card. Anyone who knows how to programme a chip card and purchases a simple $15 Raspberry Pi-like device, could secretly reactivate their voter card while inside the privacy of a voting booth," added Symantec.
 
The card can be faked in two different ways -- one, reset the card to allow someone to vote multiple times using the same chip card and second, programming the card to allow multiple vote casting. 
 
"There was no form of encryption on the internal hard drive of the voting machines we purchased, which were running an outdated operating system to display the ballots and record votes," Symantec found.
 
The second method to influence the votes is tampering with tabulation. 
 
All the votes are registered in the voting and attackers could compromise the integrity of the voting data by manipulation of cartridges as these storage cartridges function like a USB drive which stores data in plain text with no embedded encryption. 
 
Thirdly, by propagating misinformation on social media networks, a hacktivist or attacker could also change voter behaviour.
 
Symantec said that these vulnerabilities can easily be fixed by installing security software at all points of the process. 
 
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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Beware: Scamsters duping people in the name of ICICI Bank NRI services!
Fraudsters who used to send us offers of massive lotteries or promised income tax refunds are now using far more sophisticated techniques, posing an even bigger risk to gullible and careless people. Many people may have received an email recently purportedly regarding ICICI Bank's non-resident Indian (NRI) services. The email is created so cleverly that unless you have a keen eye, technically savvy or are a regular reader of Moneylife, you could easily fall for it and mistake it for a genuine mail sent by the Bank!
 
Three things that should ring alarm bells for anyone, especially an NRI, who receives this mail. First, the use of capital letters in between the sentences. For example, it says, "..to cancel the Request & Validate your Email ( &email& ) with us...". Here the excess capitalisation for R, V, E is not required. So, this is the first sign.
 
 
Secondly, there is no 's' in the http, which denotes that the link is not secured. (Read: Netbanking and ECS are safe. Use them to reduce effort and earn more)
 
Third, the link given is very cleverly camouflaged. The scamsters, instead of using 'i' in the bank name inside the URL, have used 'l' (L in small letter) that looks like capital 'I'. This is where most people are likely to be duped into believing this scam mail is genuine and end up sharing their details on the special website created by the fraudsters. As a precaution, it is always better not to click on any links you receive through emails or any other medium, like message. Better still is to visit the original site by typing the name in the URL space and from there go to the required page.   
 
 
Below is how the ICICI Bank web page for NRI banking looks like. Check the ‘s’ in https and the bank name in small letters. 
 
 
The top and bottom part, including name and signature of the sender are simply ripped off from ICICI Bank's original email, probably sent to its customers for some other purpose.
 
 
If you receive such mails, do not pay any heed and simply mark it as "spam" and press delete. In case, you still believe this email as sent by your bank, simply pick up the phone and call your branch to check if they had indeed sent such email. This will save you a lot of trouble and from potential financial loss.
 
 

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COMMENTS

Ramesh Mehta

4 months ago

Thumb rule: Any email or call asking u to share your details should be considered a fraud...
Never use a link provided in a email
always directly go to the required web site by typing the url in browser

ROSHAN SHAHANI

4 months ago

Thanks Moneylife for cautioning us about such scamsters. Your detailed and clear explanation of their duping methods aids us readers greatly in identifying fraudulent emails from dubious bank websites.

Meenal Mamdani

4 months ago

Thank you for warning us and giving clear example of how the scam operates.

I am very grateful to ML Foundation for being vigilant and caring about its readers' well being.

kishore jagtiani

4 months ago

This should be given wide coverage in the press.

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