Stocks
Nifty, Sensex may rally - Weekly closing report
If Nifty stays above 7,700, it may rally up to 8,100
 
We had mentioned in last week’s closing report that Nifty, Sensex may give up some gains and that Nifty has to stay above 7,930 for the gains to continue. During the course of the week’s trading, the major indices in the Indian stock market were struggling to rally due to negative global markets’ cues. It was a dull market with the market indices moving sideways most of the time. The summary of movements of the major indices during the course of the week’s trading is given in the table below: (Over the week, the major indices have made marginal losses of 1%-1.5%).
 
 
Healthy domestic funds inflows, announcements on financial sector reforms and hopes of a rate cut arrested the slide in the market indices which closed flat on the back of weak global cues on Monday. Market watchers elaborated that the global growth concerns coupled with fears of a possible US interest rate hike in the latter part of 2015 played negatively on investors’ sentiments. On Tuesday, there was a major correction of over 2%. Market observers cited weak European cues, especially after the re-elections in Greece, the dwindling rupee value and the upcoming derivatives expiry, as the main reasons for the markets' fall. The RBI (Reserve Bank of India) will decide on whether or not to cut interest rates in its upcoming monetary policy review slated for September 29. Sector-wise, banking, capital goods, automobile, metal and oil and gas stocks came under intense selling pressure.
 
US market analysts pointed out that the market now worries about whether the Fed could possibly be seeing a serious slowdown and that is why it chose to keep interest at the same level. The Indian stock markets again came under pressure during the initial trade on Wednesday, as weak Asian cues emanating out of a below-expected Chinese PMI (purchasing managers' index) data spooked investors. 
 
Indices opened on a lower note on Thursday, following a sharp downward correction in Japan's Nikkei and US futures. However, the market pared the initial losses and closed marginally higher. 
 
All interest-sensitive stocks like banking, automobile and capital goods made gains on hopes of a rate cut by the RBI during its upcoming monetary policy review slated for September 29. On Friday the market was closed on account of Id.
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 
 

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New Data Reveals Stark Gaps in Graduation Rates Between Poor and Wealthy Students
For the first time ever, the public can see the graduation rates for Pell Grant recipients at over 1,000 schools in the US 
 
A new report released Thursday provides a detailed look at the graduation rates of low-income college students. At many colleges, low-income students graduate at much lower rates than their high-income peers. 
 
At the University of Missouri-Kansas City, only 35 percent of Pell Grant recipients graduate college, a rate that is more than 20 percentage points lower than that of their wealthier peers. And at St. Andrews, a liberal arts college in Laurinburg, North Carolina, only 13 percent of Pell Grant recipients graduate, more than 50 percentage points less than students who don’t receive the grants. 
 
The study found 51 percent of Pell students graduate nationwide, compared to 65 percent of non-Pell students. The average gap between wealthy and poor students at the same schools is much smaller: an average of 5.7 percentage points. That’s because many Pell students attend schools with low graduation rates. (You can now look up whether poor students are graduating at the same rate as their classmates in our newly updated interactive database, Debt by Degrees.)
 
Ben Miller, the senior director for postsecondary education at the Center for American Progress, said that schools with large graduation gaps deserve greater scrutiny.
 
“Colleges have responsibility to ensure that the students they enroll are well served,” said Miller. “If you’re going to enroll someone, you should do the absolute best you can to graduate them, or else don’t take their money.”
 
The new report comes on the heels of recently released federal education data that has brought new focus on how low-income students fare at college, including how much federal debt they take on and how much they earn after graduation. The graduation rates of low-income students were not included in that data.
 
The group behind the new report, the Education Trust, collected the graduation rates of Pell Grant recipients — typically students whose families make less than $30,000 a year — for a selection of more than 1,000 colleges across the country. 
 
A spokesman for University of Missouri-Kansas City said many of their students are low-income and that the school is working to do better. “We are not satisfied with that gap,” said John Martellaro. “We are investing more resources in our student success programs in an effort to narrow that gap.” (Read their full statement.)
 
St. Andrews did not immediately respond to requests for comment. 
 
At more than a third of the colleges studied, schools were able to serve their Pell students almost as well as non-Pell students, with a gap of less than 3 percentage points. 
 
Other schools have managed to graduate Pell students at an even higher rate than their non-Pell peers. According to the new data, nearly 90 percent of Pell recipients are able to graduate Smith College, compared with an 85 percent graduation rate of non-Pell students. And at Western Oregon University, Pell recipients have a graduation rate of... Continue Reading…
 

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