Sensex, Nifty have some more steam left: Monday closing report

Nifty highly overbought but may log in more gains

In Friday’s closing report, we had mentioned that the benchmarks are still possibly gathering energy for a short upmove. On Monday the Indian market had an upbeat opening, which was also the day’s low. The market continued to move in the narrow range upto 1.30pm after which it witnessed a sudden upsurge that made the indices hit a new all-time high. For BSE 30-share Sensex this was the fifth time in this month, while for NSE 50-share Nifty it was the fourth time.

The Sensex opened at 21,828 while Nifty opened at 6,511. The Sensex hit an all time high at 22,074 while the Nifty hit an all time at 6,592. Both the benchmark closed almost at their respective intra-day high. Sensex closed at 22,055 (up 300 points or 1.38%) while the Nifty closed at 6,584 (up 89 points or 1.36%). The NSE recorded a lower volume of 59.45 crore shares.

Except for Pharma (0.61%) and IT (0.14%) all the other indices on the NSE closed in the green. The top five gainers were CPSE (3.57%), Bank Nifty (2.75%), PSE (2.51%), Finance (2.50%) and Energy (2.21%).

Of the 50 stocks on the Nifty, 41 ended in the green. The top five gainers were Gail (5.29%), ONGC (4.37%), IndusInd Bank (4.20%), Kotak Bank (3.86%) and ICICI Bank (3.57%). The top five losers were HCL Technologies (1.81%), Dr Reddy’s (1.30%), Wipro (1.16%), Cipla (1.03%) and Infosys (0.62%).

Of the 1,550 companies on the NSE, 702 companies closed in the green, 758 closed in the red while 90 closed flat.

GAIL the top gainer in the pack of Sensex 30 stocks, today announced that during the Gastech Conference being held in Seoul, South Korea had signed a Memorandum of Understanding (MoU) with Chubu Electric Power Co., Inc., Japan (Chubu) on Friday. GAIL (up 4.81%) closed at Rs370.35 on the BSE.

Engineers India (EIL) was the top gainer in the ‘A’ group on the BSE was in news over winning a contract in the $3.6 billion Oman plastics project. EIL has won the PMC (project management consultancy) contract for Orpic's Liwa Plastics Project at Sohar in Oman against international competitive bidding. The contract is valued at over $40 million and signifies the company's steady headway overseas. Engineers India (up 6.73%) closed at Rs199.95 on the BSE.

The top loser among the ‘A’ group on the BSE, Financial Technologies, was in the news as the Securities and Exchange Board of India (SEBI) removed its "fit and proper" label last week and ordered it to sell its entire stake in the country's third-largest stock exchange. The stock fell 3.98% to close at Rs358.35 on the BSE.

US indices closed in the negative on Friday. The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on 29-30 April 2014.

Except for NZSE 50 (down 0.12%) all the other Asian indices closed in the green. Hang Seng (1.91%) was the top gainer.

A preliminary gauge of China's factory activity fell to an eight-month low. The "flash" edition of HSBC's China manufacturing Purchasing Managers' Index (PMI) dropped to 48.1 from February's 48.5, remaining below the 50 level separating expansion from contraction. However, the Asian markets went up on the hope that this would attract government stimulus.

European indices were trading in the red, while US indices were trading marginally higher.


No FIR for now in Sunanda Pushkar case, says Delhi Police

According to Delhi Police, the viscera report of Sunanda Pushkar hints toward drug poisoning, but these findings are still inconclusive to file an FIR in the case

BS Bassi, the chief of Delhi Police, on Monday said inquest would continue in the mysterious death of Sunanda Pushkar, wife of union minister Shashi Tharoor. The Police Commissioner maintained that there is no reason to proceed in any other way while virtually ruling out a first information report (FIR) in the case at present.


"From the circumstantial evidence collected so far and from the statement of witnesses, there is no reason for us to proceed in any other fashion so we are carrying on our inquiries under Section 174 CrPC," Bassi told reporters.


Inquest proceedings under Section 174 CrPC were initiated in the Sunanda case according to which a sub-divisional magistrate inquiries into the death of a woman if she dies within seven years of her marriage.


In this case, on 21st January, a sub-divisional magistrate had directed Delhi Police to investigate the murder or suicide angle in the case after autopsy report has cited the death as "sudden and unnatural" while the cause of death was mentioned as poisoning.


The police can file an FIR in this case if it finds any foul play but until then the inquiry will go on under section 174 CrPC.


Investigators were banking on the viscera report from Central Forensic Science Laboratory (CFSL) to get definitive lead on the nature of the poison and establishing its quantity but the report has failed to do so. The viscera report hints toward drug poisoning and its findings are still inconclusive to file an FIR in the case, according to police.


"The CFSL report has not been able to give much headway into the probe. It rules out poisoning and hints toward drug poisoning," said a senior police official associated with the probe.


Investigators will now take the opinion from the panel of doctors from AIIMS which had carried out an autopsy to shed light into findings of the CFSL report.


The SDM has also been informed about the CFSL report.


Sunanda was found dead in a 5-star hotel in South Delhi on the night of 17th January, a day after her twitter spat with Pakistani journalist Mehr Tarar over an alleged affair with Tharoor.




3 years ago

Sunanda was never on Alprax,say docs


Thiruvananthapuram: Doctors at Kerala Institute of Medical Sciences (KIMS) hospital here,who had examined Sunanda Pushkar a few days before her death,said on Monday that they had not prescribed anti-depressant drugs.With this,the mystery behind the empty strip of Alprax tablets found in the New Delhi hotel room where she was found dead deepened.
During our interaction,she never mentioned about phases of depression or taking anti-depressants, said a doctor who was part of the medical team. TOI had reported on on Monday that the viscera examination report had found no traces of poison or anti-depressants.
The discharge summary issued by KIMS hospital does not mention that Sunanda was under any medication for anxiety-related issues.


3 years ago

No FIR if congress comes back to power!

Supreme Court refuses to cancel Unitech MD Sanjay Chandra's bail

CBI had approached the Supreme Court for cancellation of bail after Chandra was allegedly caught on tape trying to influence AK Singh, the then public prosecutor in the 2G spectrum scam

The Supreme Court on Monday refused to cancel bail granted to Sanjay Chandra, managing director of Unitech Ltd and an accused in 2G spectrum case, for allegedly trying to "sabotage the trial".


A bench headed by Justice HL Dattu turned down the plea of Central Bureau of Investigation (CBI), which had approached the apex court for cancellation of bail after Chandra was allegedly caught on tape trying to influence AK Singh, the then public prosecutor in the case.


The apex court said it is "not appropriate at this stage" to recall its order of 23 November 2011 by which Chandra was granted bail in the multi-crore 2G spectrum scam.


CBI had alleged that Chandra had misused the relief given to him by approaching Singh and trying to "materially interfere" with the prosecution in an "attempt to influence" the conduct and outcome of the trial.


It has alleged that conduct of Chandra was questionable during the period of bail as he was found holding discussion with the prosecutor about crucial witnesses.


His conversation with the prosecutor, who was removed from the case, reflected that the entire strategy of CBI in dealing with the case was compromised, the agency has said.


CBI said it had registered a Preliminary Enquiry report which named Chandra and prosecutor Singh.


The investigation also suggested that the conversation took place between the two when the statement of crucial witness A K Srivastava, Department of Telecom's former Deputy Director General (AS) was being recorded in the court, it had said.


The agency had also stated that the CFSL report has also confirmed that the recorded conversation was neither tampered with nor any editing was done and it was the voice of Chandra and Singh.


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