Stocks
Nifty, Sensex may weaken further – Monday closing report
We had mentioned in Friday’s closing report that Nifty, Sensex were trendless. The major indices of the Indian stock markets suffered a strong correction on Monday and the losses were more than 1.20% over Friday’s close. However, market trading volumes were on the lower side on the NSE. The trends of the major indices in the course of Monday’s trading are given in the table below:
 
 
Indian equity markets plunged on the back of negative global cues and caution ahead of F&O (futures and options) expiry during the mid-afternoon trade session on Monday. The key indices traded in the red with losses of more than 1% each, as heavy selling pressure was witnessed in stocks of banking, automobile and capital goods. The BSE market breadth was tilted in favour of the bears -- with 1,644 declines and 1,052 advances. On the NSE, there were 542 advances, 1,070 declines and 259 unchanged.  Volatility in global crude oil prices and negative Asian markets dragged the Indian equity markets lower at the start of the day's trade, pointed out market analysts. Lower European market accelerated the falls in the key domestic indices. Unwinding of positions ahead of F&O expiry also depressed the equity markets. The CNX Nifty traded lower tracking negative global cues. IT and banking stocks traded down on profit-booking. Auto and oil-gas stocks traded with sideways sentiments.
 
Indian multinational Tata Steel is set to begin crucial talks with trade union representatives of its British steelworks to settle the deadlock over a 15 billion pound pension scheme for its workers, British media reported on Sunday. According to The Sunday Times, Tata Steel will start talks here with unions on Monday to break the deadlock over a 15 billion pounds sterling pension scheme, which is the major obstacle in its merger with German steel maker Thyssen Krupp. The newspaper said the Indian company "is understood" to have called two days of pension talks to try to secure the merger of its European operations with those of Thyssen Krupp. German engineering conglomerate Thyssen Krupp and Tatas have held talks on combining their continental European steel operations, as global overcapacity weighs on prices and profits. Following this summer's British referendum verdict to exit the European Union, which has raised concerns about the viability of the British steel industry that has already been under prolonged and serious pressure, there were reports in the local media that Tata Steel would likely to put the sale on hold. Tata Steel shares closed at Rs370.40, down 0.40% on the BSE.
 
"India records its highest ever year-on-year FDI inflows. There has never been a better time to #MakeInIndia," the Department of Industrial Policy and Promotion (DIPP) said in a post on the programme's Twitter handle. "With 2 years of #MakeInIndia comes 2 years of doing business made easier," it said in a separate tweet. The stock markets in India have hardly reacted to this aspect of government policy in the current year. Industry chamber Assocham said earlier this year on the basis of a survey that the Indian economy is expected to improve in short-term but private sector investments would be a matter for concern due to sluggish capacity utilisation and pressure on corporate earnings.
 
India's foreign exchange reserves went down $369.60 billion as on September 16, the Reserve Bank of India (RBI) announced. According to data released by the RBI, the reserves stood at $369.60 billion as on September 16, as against $371.27 billion as on September 9. On September 16, the foreign currency assets stood at $344.07 billion, gold at $21.64 billion, special drawing rights at $1.49 billion and the reserve position in the International Monetary Fund (IMF) at $2.39 billion. The Indian stock markets have done well in attracting investments from foreign institutional investors, when the foreign exchange reserves have moved down.
 
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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Pulse Beat
Premature Menopause Leads to Cardiac Risks?
Early menopause has been found to be an additional risk factor for heart attacks, high BP (blood pressure) and many other vascular complications says a study published in the British Medical Journal (BMJ) recently. However, what worries me is why women have premature menopause these days. Is it because they have early menarche with all the hormones in quill and our food, thanks to greedy industry? If that were so, we will have to tackle it at the root. To treat menopausal women with drugs is a foolish reductionist science in a holistic closed system of human biology (physiology).
 
The Story of Fat Profile and That Ghost, Cholesterol
The world of medical science is yet to get out of the shock of cholesterol being declared a friend of human health by the US diet guidelines which urged people to eat fats in their diet to regain their health. Meanwhile, there are stray reports trickling in to show how this myth was first created in the late 1950s and early 1960s.
 
A recent paper in JAMA Internal Medicine shows the level to which the greedy industry can stoop to achieve their aim of making money, even at the cost of human lives of the gullible public who depend blindly on the faith that Western science is our saviour! In a shocking revelation, a new study has shown that the sugar industry paid Harvard scientists in the 1960s to play down the risks of sugar associated with coronary heart disease and highlight fat as the culprit, instead.
 
An industry group, then called the Sugar Research Foundation, which is known as the Sugar Association today, sponsored some research on fat as the ‘dietary culprit’ in heart disease—an attempt to refute concerns about sugar’s role in heart disease.
 
“The Sugar Association paid three Harvard scientists the equivalent of about $50,000 in today’s dollars to publish the research, which they published in the prestigious New England Journal of Medicine (NEJM) in 1967. Researchers, however, noted that there was no disclosure of the sugar industry funding the research that minimized the link between sugar and heart health,” says the report. “Funding research is ethical,” Nestlé told Reuters Health by email. “Bribing researchers to produce the evidence you want is not.”
 
Increasingly, epidemiological reports suggested that blood sugar, rather than blood cholesterol or high BP, was a better predictor of plaque build-up in the arteries.“The Sugar Association paid very prestigious Harvard scientists to publish a review focusing on saturated fat and cholesterol as the main causes of heart disease at the time when studies were starting to accumulate indicating that sugar is a risk factor for heart disease.”  
 
German Drug Giant Bayer Buys Monsanto! 
“German drug and crop chemical maker Bayer clinched a $66 billion takeover of U.S. seeds company Monsanto on Wednesday,” reports Reuters. “If the deal closes, it will create a company commanding more than a quarter of the combined world market for seeds and pesticides in the fast-consolidating farm supplies industry.” I am sure that future medical scientists, when they sift through the medical science’s greatest curse on mankind, this new dispensation might figure prominently in the decline and destruction of human health!
 
Trauma Surgery and Deep Vein Thrombus with Pulmonary Infarcts
This causes about 300,000 deaths annually in the US. There is an attempt to find the best way to prevent this hazard in a very large new study at the Maryland School of Medicine with 13 other centres at a phenomenal cost of $100 million. It would study more than 13,000 patients who undergo trauma surgery with bone fractures. This study proposes to compare simple oral aspirin with low molecular heparin injections. Both these drugs could increase bleeding in those patients. The study is supposed to settle this question for ever. 

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Fortnightly Market View: Risk Vs Reward
Last fortnight when I wrote my piece, the Sensex was at 28,797. Almost a fortnight later, it...
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