Stocks
Nifty, Sensex on an uptrend – Thursday closing report

If Nifty holds today’s lows, Nifty may cross 8,050

 

We had mentioned in Wednesday’s closing report that if Nifty holds Wednesday’s lows, it may rally till 7,970. The market recovered from the crash earlier this week and there were healthy gains. The market is likely to shake off its fears if there are no negative international cues. Indeed, the US seems to have logged in strong economic growth in the June quarter which sent the US markets higher at the opening on Thursday.

 

 

Rebound in rupee value, stronger Chinese markets and global sentiments on deferment of a rate hike in the US on Thursday ushered in a major recovery in the Indian and global equity markets today.

 

The recovery propelled the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) to gain 517 points or 2.01% in the day's trade. The CNX Nifty of the NSE rose 157.10 points or 2.02% at 7,948.95 points.
 
The S&P BSE Sensex which opened at 26,137.03 points, closed at 26,231.19 points. It touched a high of 26,302.77 points and a low of 25,943.75 points in the intra-day trade.
 
Analysts said the markets remained in the positive zone on Thursday due to improved global conditions and speculation that US Fed may keep rates unchanged. 
 
The rupee gained by 9 paise and closed at 66.05 to a US dollar from Wednesday's close of 66.14. It touched a day's low of 66.85.
 
The Chinese benchmark Shanghai Composite Index closed with gains of 5.40%. On Wednesday the index lost 1.30%. On the other hand, markets were also buoyed by speculations that the US Fed might not go ahead with the decision to hike key lending rates after a decade of ease money regime.
 
High interest rates in the US are expected to lead away the foreign portfolio investors (FPIs) from emerging markets like India. 
 
Analysts added that the markets rally was also supported by short-covering or value buying on the expiry day of August derivative contracts. 
 
Sector-wise, all the 12 BSE sub-indices of the BSE closed in the green. 
 
The S & P BSE consumer durables index zoomed by 542.24 points, the healthcare index rocketed by 504.12 points, banking index gained by 354.62 points, the oil and gas index rose by 241.36 points and the metals index increased by 182.67 points.
 
Major Sensex gainers in Thursday's trade were: HDFC, up 8.41% at Rs.1,195.20; Vedanta, up 6.55%  at Rs.91.15; Tata Steel, up 4.80% at Rs.225.85; Lupin, up 4.79% at Rs.1,898.50; and Cipla, up 3.95%  at Rs.661.15.
 
The major Sensex losers were: BHEL, down 3.54% at Rs.231.70; Bajaj Auto, down 2.44% at Rs.2,189.30; Tata Motors, down 0.62% at Rs.334.70; NTPC, down 0.50% at Rs.119.15; and Hero MotoCorp, down 0.47% at Rs.2,380.70.
 
Among the Asian markets, Japan's Nikkei gained by 1.08%. Hong Kong's Hang Seng rose by 3.60%.
 
In Europe, London's FTSE 100 index swelled by 2.22%, French CAC 40 surged by 2.63% and Germany's DAX Index climbed by 2.63% at close of trading here.
 
The top gainers and top losers of major indices are given in the table below:
 
 
 
 
The closing values of major Asian indices are given in the table below:
 
 

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COMMENTS

Sadashiv Potadar

1 year ago

Nice write-up for novices like us. Keep us informed just-in-time. Thanks.


Sadashiv Potadar

Health: Risk factors V/s Asset factors
On a given day, there might be a few million suffering patients but the healthcare industry tries to relentlessly drum up business by scaring the billions who are healthy
 
“This world was never about TRUTH or LIES. There are only hard facts. Despite that, some who exist in this world mistakenly believes that only FACTS FAVORABLE TO THEM are truths. They know no other way to live. Do you know all the Facts?”  - Bleach anime
 
Risk factors for any disease, especially for life style diseases, are a big business. Almost every known thing is cited as a risk factor. If one carefully reads a recent medicine textbook heart attacks have more than one hundred risk factors! People goad you to get yourself checked up regularly by regular screening to lessen your risk factor dangers. There are many studies of risk factors that are small cohort studies done for a short time slot, so called cross sectional studies, mostly funded by the vested interests, which proclaim that every single risk factor needs to be actively pursued and treated (controlled) vigorously. The main line media, both print and electronic, is made to pick up these studies to focus public attention on them thus creating a conducive environment to sell their drugs or other interventional methods to make money. To the best of my information none of these studies has ever followed up the same cohort for longer than five years to see the long term interventional outcomes of those risk factor controlling strategies!
 
When the industry finds that their product is dangerous to health they devise “scientific” studies to show how their product is good for health. One example will suffice. In the early 1970s, new insights in the medical world showed how dangerous alcohol is to the heart. The advent of alcoholic cardiomyopathy as a dangerous cause of sudden death, even more dangerous than heart attacks, was discovered in Russia by Maurice Lev and his associate Saroja Bharati. The alcohol industry in Europe devised a new study by inviting alcohol experts from all over the world for a long session at the Dorchester Hotel in London with a brief to get a “scientific” paper to show that alcohol in small doses is very good for the heart and also to prevent a heart attack. They all obliged. Their paper saw the light of the day in the journal Heart in 1981 with an editorial by the then editor urging doctors to proactively ask people to drink in small quantities for heart health! 
 
Dr Eric Oliver from Chicago University in his paper The Politics of Pathology how obesity became an epidemic disease shows how the epidemic of obesity is created by the industry to sell their obesity reducing drugs and surgical technics.
 
The longest prospective study of risk factors was the (in) famous MRFIT-multiple risk factor interventional trial study which started by screening 500,000 Americans to select 100,000 participants who now have completed 25 years of observation.  The final conclusion of the study, having spent millions of American Tax Payers’ money, was: there have been no risk factors in MRFIT study. The so called risk factors could be effectively controlled by interventions, drugs and surgery but, the final risk, when present, will remain intact and the intervention does not make any difference. So there are nothing called risk factors! My take on this study is that the study shows the hollowness of two things. One is that risk factor theory is created to sell their wares by the industry and secondly, the patients whose risk factors were controlled had to recover twice as William Osler had written decades ago: 
                   
"The person who takes medicine must recover twice, 
Once from the disease and once from the medicine" -William Osler, 
 
Many of them in the MRFIT study had to meet their maker in heaven prematurely, though. That much for the risk factor hypothesis.
 
Some years ago I had coined a neologism-asset factor. If one looks at the other side of the risk factor coin we see that a large number of humans that have similar risk factors do not suffer from any disease. A telling example would be simple malaria. In Mangalore, on a given day, there might be about a dozen patients with malaria in many of the hospitals put together. There are more than 15 lakh humans live in Mangalore. The large majority of 14,99,990 people with the same mosquito bite do not suffer from Malaria. Logically there must be something in that majority that prevents them from getting malaria despite the mosquito bite. It might be their immune resistance, their diet, or their life style. It was an American physician, Theobald Smith, who in 1915 propounded the Grimm’s Law which states that “while any disease is directly proportionate to the virulence of its cause, it is also inversely proportionate to the resistance of the host.” The host resistance is what is keeping us alive in the midst of the sea of risk factors. On a given day there might be a few million suffering patients but there are more than six billion that are healthy and kicking.  If medicine were to be a philanthropic enterprise without the lure for big money returns mankind would have been happy because doctors were goaded to “cure rarely, comfort mostly but to console always.” But alas! Today almost all patients have to recover twice if they are lucky-once from the disease and once from the medicines and interventions.
 
Let me conclude by quoting Eric Oliver again: “it is useful to understand how “new ideas” become widely accepted. Scholars of diffusion theory have long recognized that fads, innovations, and trends often accelerate across populations in exponential fashion, much in the same way that contagious diseases do (Rogers 1962). One day a single person pierces her navel or rolls up his pant cuffs and then, suddenly, everyone is doing it (Gladwell 2000).The key for the spread of a new idea, like the spread of a disease, is having the right set of circumstances and a particularly good method of transmission. The HIV virus, for example, allegedly spread out of Africa in the early 1980s because of the international promiscuity of a single Canadian airline steward, Gaetan Dugas, the infamous “patient zero” (Shilts 1987).The same holds true for ideas: a new concept lies fallow for a time until a triggering event, particular circumstance, or the right person suddenly causes it to be embraced by a large number of people.”
 
Long live mankind on this planet despite this kind of non-science.
 
“Lies can't grow. Once plucked they can only wither. But every truth, once planted, grows into a tall, noble tree. ” - Stefan Emunds
 
(Professor Dr BM Hegde, a Padma Bhushan awardee in 2010, is an MD, PhD, FRCP (London, Edinburgh, Glasgow & Dublin), FACC and FAMS.)
 

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Govt announces list of 98 smart cities; 10 from Maharashtra
The list includes 24 business and industrial centres, 24 capitals, 18 cultural and tourism cities and five port cities. While 64 small and medium category cities made to the list nine capitals fail to be selected
 
Union Urban Development minister M Venkaiah Naidu on Thursday announced the list of 98 cities nominated for the Smart City Mission, saying a population of 13 crore across these cities will be covered under the initiative.
 
"There are 13 cities from Uttar Pradesh, 12 from Tamil Nadu, 10 from Maharashtra, seven from Madhya Pradesh, three each from Bihar and Andhra Pradesh included in the list," Naidu told media persons at an interaction in Delhi. 
 
The Minister informed that nine capital cities, Itanagar, Patna, Shimla, Bengaluru, Daman, Thiruvananthapuram, Puducherry, Gangtok and Kolkata failed to be selected and this goes to prove that the smart city selection was not influenced by the stature or importance of the cities.
 
Naidu said that with the selection of almost all the cities under the Smart Cities Mission, all the selected cities will have to prepare city level Smart City Plans and these will be evaluated in the second stage of competition based on a broad set of criteria to pick up the top scoring 20 cities for financing during this financial year. Funds may be released to these 20 cities by the end of this year, he said. Others will be asked to improve upon the identified deficiencies before participating in the next two rounds of competition.
 
Those cities to be selected in the second stage of competition would be provided with central assistance of Rs200 crore in the first year followed by Rs100 crore each year during the next three years, the Minister informed.
 
From Maharashtra, Navi Mumbai, Nashik, Thane, Greater Mumbai, Amravati, Solapur, Nagpur, Kalyan-Dombivali, Aurangabad, Pune are included in the Smart City scheme. 
 
Here is the list of states and number of cities that have been nominated by the government:
1. Andaman and Nicobar Islands 1 (Port Blair)
2. Andhra Pradesh 3 (Vishakhapatnam, Tirupati, Kakinada)
3. Arunachal Pradesh 1 (Pasighat)
4. Assam 1 (Guwahati)
5. Bihar 3 (Muzaffarpur, Bhagalpur, Biharsharif)
6. Chandigarh 1
7. Chhattisgarh 2 (Raipur, Bilaspur)
8. Dadra and Nagar Haveli 1 (Silvassa)
9. Daman and Diu 1 (Diu)
10. Delhi 1 (NDMC)
11. Goa 1 (Panaji)
12. Gujarat 6 (Gandhinagar, Ahmedabad, Surat, Vadodara, Rajkot, Dahod)
13. Haryana 2 (Karnal Faridabad)
14. Himachal Pradesh 1 (Dharamshala)
15. Jharkhand 1 (Ranchi)
16. Karnataka 6 (Mangaluru, Belagavi, Shivamogga, Hubballi-Dharwad, Tumakuru, Davanegere)
17. Kerala 1 (Kochi)
18. Lakshadweep 1 (Kavarrati)
19. Madhya Pradesh 7 (Bhopal, Indore, Jabalpur, Gwalior, Sagar, Satna, Ujjain)
20. Maharashtra 10 (Navi Mumbai, Nashik, Thane, Greater Mumbai, Amravati, Solapur, Nagpur, Kalyan-Dombivali, Aurangabad, Pune )
21. Manipur 1 (Imphal)
22. Meghalaya 1 (Shillong)
23. Mizoram 1 (Aizawl)
24. Nagaland 1 (Kohima)
25. Odisha 2 (Bhubaneshwar, Raurkela)
26. Puducherry 1 (Oulgaret)
27. Punjab 3 (Ludhiana, Jalandhar, Amritsar)
28. Rajasthan 4 (Jaipur, Udaipur, Kota, Ajmer)
29. Sikkim 1 (Namchi)
30. Tamil Nadu 12 (Tiruchirapalli, Chennai, Tiruppur, Coimbatore, Vellore, Salem, Erode,  Thanjavur, Tirunelveli, Dindigul, Madurai, Thoothukudi)
31. Telangana 2 (Greater Hyderabad, Greater Warangal)
32. Tripura 1 (Agartala)
33. Uttar Pradesh 13 (Moradabad, Aligarh, Saharanpur, Bareilly, Jhansi, Kanpur, Allahabad, Lucknow, Varanasi, Ghaziabad, Agra, Rampur)
34. Uttarakhand 1 (Dehradun)
35. West Bengal 4 (New Town Kolkata, Bidhannagar, Durgapur, Haldia)
 
Jammu & Kashmir has sought more time to decide upon names for the Smart City Mission.
 
"Smart cities need smart people. We need people's co-operation to move forward in our mission," he added.
 
The central government proposes to give financial support to the extent of Rs48,000 crore to these cities over the next five years, Naidu said.
 
"Around 13 crore population across 98 cities will be covered under the Smart City Mission. Making them smart will make them engines of economic growth besides giving decent life to the citizens".
 
The minister said the prime motive of the initiative was to enhance urban life. A smart city would ensue core infrastructure needed for decent living in urban areas. We are not aiming at making our urban landscape look fanciful and flashy. The prime objective is to enhance the quality of urban life by addressing deficiencies in core infrastructure. Expectations in various quarters may be high but the Mission is very practical and realistic in its intentions and objectives,” Naidu added.

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