Stocks
Nifty, Sensex will move sideways
For a rally, Nifty has to close above 7,050 first
 
We had mentioned in Wednesday’s closing report that Nifty has to close above 7,110 for the decline to end. The index today closed in the negative for the third consecutive session. The market which was trading sideways up to the beginning of the noon session did not react positively for the rail budget announced today. The index was pulled lower in the noon session to hit a six day(including today) low. The markets were more volatile because the February series of futures and options expired today.
 
India VIX fell 0.91% to close at 22.7450. NSE recorded a volume of 1,067.31 million shares.
 
Investors' sentiments were subdued after the railway minister failed to announce big ticket capital expenditure projects in his budget speech, so as to meet the government's fiscal deficit targets. Further, investors took notice of the fact that railway revenue targets might not be met due to a slowdown in economic activity and that the government looked at monetising the internal resources for fund mobilization.
 
In addition, a sharp fall of over 6% in Shanghai Composite and softening of crude oil prices which declined by 1% to $31, unnverved the investors. 
Besides, a weak rupee dented sentiments. It closed weaker by 15 paise to touch its 30-month closing low. The rupee closed at 68.71 against the US dollar, at level which was last seen during late August, 2013. During the intra-day trade rupee value dwindelled to 68.79 to a US dollar from its previous close of 68.56 to a greenback.
 
The FIIs were net sellers during the day's trade, while the domestic institutional investors (DIIs) bought stocks. The data with stock exchanges showed that FIIs divested Rs 1,465.68 crore, while the DIIs bought stocks worth Rs 806.97 crore.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of major Asian indices are given below:
 

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Neighbours made to pay big price for Sanjay Dutt's 'freedom' celebrations
Fans and well-wishers of the Bollywood star have been dancing on the deafening sound of drumbeats since Wednesday night, making the neighbours of Dutt to bear the unbearable noise reaching about 110dB
 
Bollywood actor Sanjay Dutt was set free from a Pune jail on Thursday and returned home in Mumbai to savour 'complete freedom', 23 years after his legal problems began over his possession of an AK-47. However, his neighbours were made to pay a big price with noise levels reaching nearly 110 decibels dB as against permitted levels of 55 dB in residential area. Near the Bandra home there was a contingent of drummers who played a deafening welcome tune for Dutt throughout the day and night.
 
Sumaira Abdulali, Founder of Awaaz Foundation, who also stays in the next building to Dutt, says, "We are working on a campaign 'Get Well Soon, Mumbai', but after hearing this kind of loud noises since yesterday night, I feel like telling my neighbour, 'Get Well Soon, Munnabhai'." 
 
"What is more funny, is there are reporters from all media, many of them tell me that they also do not like what they are doing (with this coverage). However, what bugs me more is these people topple the trees we planted on the road sides," she added.
 
There were also large posters and huge banners welcoming the actor, and a special poster welcoming 'Papa' and 'Uncle' and 'Bro' from his wife and kids, sisters, nieces and nephews.
 
Dutt was accorded a warm welcome as he stepped out of Mumbai airport after flying from Pune in a chartered aircraft with his family members. It was followed by a tumultuous reception in Mumbai.
 
Earlier, Dutt was released around 8.30am from Pune's Yerawada Central Jail (YCJ) where he served the remaining 42 months of his five-year-long rigorous imprisonment.

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COMMENTS

Simple Indian

1 year ago

Like in the Salman Khan case, in this case of Sanjay Dutt, it is evident that in law, all are equal but some are more equal. Sanjay Dutt was shown undue favor with repeated paroles and furloughs, which was unusual. Also, in this episode, the police could have taken suo motu action to contain the revelry by his fans. It's a pity in our country soldiers die fighting for our safety and well-being and remain unsung heroes, while convicts get hero's welcome as if they have won a war for the country.

Meenal Mamdani

1 year ago

I don't have a smart phone but understand that one can download an app which measures the ambient noise in decibels.

According to Ministry of Environment and Forests, acceptable noise level in daytime is 55dB and 45dB at night. According to Noise Pollution regulation and Control Act 2000, person who wants to put up a loud speaker has to obtain prior permission from the local authorities, which I assume is the local police. Between 10pm and 6am, loudspeakers can be used only in confined areas such as auditorium after obtaining permission.

So, as always in India, we have laws on the books but they are for show only, not to be enforced lest some VIPs get irritated.

Sanjay Dutt owes a public apology to all who have been inconvenienced. If he wants to show the public that he has learnt from his past mistakes, he will place a prominent ad in the local paper to say the same and sternly inform his followers that such loud displays will no longer be tolerated.

vnrao

1 year ago

in order to make relevent to film industry must be spending lachs through PR exececise about him otherwise who is interested in him

Meenal Mamdani

1 year ago

Sanjay Dutt is responsible for this irresponsible behavior of his fans if he does not express his displeasure in the sternest of terms and threatens his fans with police action.

We see this too often, utter disregard for those around us. I asked an extremely loud band to lower their volume just a couple of days ago in the cul-de-sac where I am staying in south Mumbai. The responsible person had the gall to tell me that I should turn a deaf ear to it as it was a wedding being celebrated, that my dogs too bark loudly during the day and that this loud music was a part of the religious ceremonies and could not be toned down. Ear shattering Bollywood music part of marriage ritual!! What more idiocy and hubris does one need before concluding that civilized behavior is becoming a rarity in this metropolis.

REPLY

Shirish Sadanand Shanbhag

In Reply to Meenal Mamdani 1 year ago

I fully agree with Meenal's views. Now a days, Police hadrly take any action, when we give correct location of music or drum playing loudly. They say, it is allowed upto 10 pm. No music is allowed to play in very high pitch, any time of a day.
That is the reason when several fans of Sanjay Dutt, even when they were playing the drums at very high pitch, police didn't take any action on them.

Krishnan

1 year ago

Mad fans , sans brains and concern for the others.

Rajya Sabha chair pulls up minister for arriving late for reply
New Delhi : The Rajya Sabha chair on Thursday pulled up Minister of State for Home Kiran Rijiju for not coming on time for a calling attention motion, with Deputy Chairman P.J. Kurien asking him to take parliamentary work more seriously.
 
The Rajya Sabha was to take up a calling attention motion on the law and order in Delhi at 2 p.m. but when the house met after lunch neither Home Minister Rajnath Singh, nor any of the ministers of state from his ministry was present. The opposition objected to this.
 
Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi said the minister had submitted a statement on the matter, but the opposition members said they did not get copies.
 
Kurien said the calling attention motion could not be taken up unless either of the ministers from the home ministry was present.
 
"If the home minister was not able to be present or the MoS was not able to be present, why was it not intimidated to the chair?" Kurien asked.
 
Within minutes, Minister of State for Home Kiren Rijiju reached the upper house, and was pulled up by the chair.
 
"Mr Home Minister, you should take parliamentary work more seriously. 2 p.m. is your calling attention (motion); you should have been here exactly at 2," Kurien said before the discussion was taken up.
 
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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