Sensex, Nifty is getting overbought – Tuesday closing report
However, only if Nifty closes below 7,620 will the up move pause
We had said on Monday that the Indian market is ready to give up some gains. However, this proved to be wrong. On Tuesday the indices opened with a gap and were on a gradual uptrend. It fell later during the noon trading session and then shot up to hit their highest level since 8 July 2014. Indeed, the indices have closed at their second-highest level ever. 
S&P BSE Sensex opened at 25,784 while the CNX Nifty opened at 7,708. The indices hit a low at 25,780 and 7,705, respectively. Sensex reached up to 26,050 and closed at 26,026 (up 311 points or 1.21%), while Nifty hit a high at 7,774 and closed at 7,768 (up 84 points or 1.09%). The NSE recorded a volume of 81.42 crore shares. India VIX fell 1.73% to close at 14.6400.
Except for PSU Bank (0.27%), Smallcap (0.18%) and Nifty Midcap 50 (0.06%) all the other indices on the NSE closed in the green. The top five gainers were IT (1.76%), Energy (1.60%), Service (1.23%), CPSE (1.16%) and CNX 100 (1.00%).
Of the 50 stocks on the Nifty, 34 ended in the green. The top five gainers were Bharti Airtel (4.79%), Reliance Industries (3.24%), HDFC (2.86%), Wipro (2.78%) and TCS (2.70%). The top five losers were Maruti Suzuki (1.03%), PNB (1.01%), LT (0.98%), M&M (0.98%) and Bank of Baroda (0.76%).
Of the 1,623 companies on the NSE, 751 companies closed in the green, 806 companies closed in the red while 66 companies closed flat.
Finance Minister Arun Jaitley had said that the government is inclined to continue restrictions on gold import along with other steps taken by the previous UPA regime for controlling the widening CAD as they have worked.
The government is planning to offload its stake in certain profit-making infrastructure units of Indian Railways, a move that will help such companies to get listed on stock exchanges as well as raise funds for exchequer. These companies include RITES, IRCON, IRFC, IRCTC, and RailTel Corporation. Since these companies are not listed, it is likely that the initial public offer (IPO) will be accompanied by an offer for sale by the government.
The Telecom Regulatory Authority of India (TRAI) on Monday recommended allowing the sharing of all categories of airwaves held by operators including spectrum allocated at the old price of Rs1,658 crore or assigned without auction. This move could help companies significantly reduce the cost of mobile services. Idea Cellular (4.83%), Bharti Airtel (4.81%) were among the top six gainers in ‘A’ group on the BSE.  Bharti Airtel was also the top gainer in the Sensex 30 pack.
State-run BHEL along with five other companies have signed a MoU earlier this year for setting up a joint venture for an Ultra Mega Solar Power Project (UMPP)  with a cumulative capacity of 4,000MW in phases at Sambhar in Rajasthan on build, own and operate basis. BHEL will have 26% equity participation. It will supply the photo-voltaic modules for the first phase (i.e. 1,000 MW) and will also have the right of first refusal for cells and modules for subsequent phases (i.e. 3,000 MW) of the project at Sambhar and other projects. BHEL (0.32%) was among the top four losers in the Sensex 30 stock.
Financial Technologies (9.53%) was the top gainer in ‘A’ group on the BSE. According to media reports, Financial Technologies plans to sell its entire 24.89% stake in power-trading platform Indian Energy Exchange (IEX) and has appointed Axis Capital to look for a buyer. However, the company has refrained to comment on the same. 
Thermax (8.55%) was the top loser in ‘A’ group on the BSE. The company has posted weak results for the June quarter. Its net profit fell to Rs41.41 crore for the quarter ended June 2014 as compared to Rs50.25 crore for the quarter ended June 2013. Net sales also decreased to Rs839.41 crore during the June quarter from Rs862.82 crore for the quarter ended June 2013.
US indices closed Monday in the negative. Except for Jakarta Composite (0.85%) all the other Asian indices closed in the green. Hang Seng (1.69%) was the top gainer. European indices were trading in the green. US Futures too were trading higher.



Save children from ever growing sexual & physical abuse, says CRISP

Child rape cases have jumped 336% in the past 10 years


Younger children, aged between 5-12 years, including boys and girls, are facing more abuse, both physical as well as sexual, and there is an urgent need to safeguard these children and also severely punish child abusers and rapists, says Bangalore-based Children's Rights Initiative for Shared Parenting (CRISP).


CRISP, citing data from the National Crime Records Bureau (NCRB), said, every 20 minutes, somewhere in India a woman is raped. While crimes against woman have increased by 1.7% since 2010, over the past 10 years, number of rape cases involving child has jumped 336%, it added.


Talking about the reluctance in addressing child abuse, CRISP said, "No one wants to believe that anyone would do something that terrible to a child, so there’s an unwillingness to recognise just how pervasive child abuse is. In spite of our collective denial, we all may know a family where sexual abuse is taking place or may know a sexual predator. In the majority of cases, children never tell anyone what has happened to them. Why? Because it doesn’t feel safe to tell. Since talking about sex is taboo in Indian society, this problem gets complicated even more."


"There are many types of child sexual abuse, from inappropriate touching, fondling, voyeurism, exposure to pornography, to full forced intercourse and sadistic acts. Victims may be infants as young as two months, although the average age of child sexual abuse victims is nine. It happens in every socio-economic class, every ethnic community, and among all races," it added.


In a statement, CRISP said, "India adopted a policy on Children in 1974 which guarantees children the right to protection from abuse, the right to protection from exploitation, the right to protection from neglect. In spite of this, various governments have failed miserably in safeguarding the interests of children who constitute 40% of Indian population because they are not vote banks!"


CRISP has demanded the government to strictly implement the 'Protection of Children from Sexual Offences Act' that was passed in the Parliament in 2012. The non-governmental organisation (NGO) has also demanded.


1. Make sex education compulsory, with a focus to educate on what constitutes abuse, for High school level in all private and government schools in the state.


2. No school management should force parents to sign papers compromising their child's safety in exchange for seats. Make schools fully accountable for child safety during school hours, including the travel to & from the school and management has to ensure due diligence on staff and teachers.


3. Open child helpline to report abuse in all major areas of the city & schools to train children how to use helpline facilities without revealing name or identity of the victim and their family.


4. Set up special courts to complete trial of child abuse cases within 6 months and ensure all cases of child abuse is reported in the police station & CWC.


5. To form a separate union ministry for children & de-link the present women and child development ministry since women rights and child rights are totally different and thus children are not the priority.


6. Initiate social and familial reforms to reinforce joint family system so that grand-parents play a more pro-active role in upbringing and care of children, ensuring love and safety, and reduce dependency on hired maids.


7. Promote shared parenting in children coming from the broken homes so that the children gets guidance from father to have proper guidance & to prevent potential rapist citizens.


Subrata Roy denied parole, Sahara allowed to sell hotels

In a continuing series of setbacks for Sahara and Subrata Roy, the SC again denied parole or bail for Roy, to be able to complete sales of his overseas hotels in order to put together and furnish the required bail guarantee


The Supreme Court on Tuesday declined to grant bail or parole to Sahara chief Subrata Roy. At the same time the apex court allowed Roy to hold discussions for helping the Sahara group to sell its hotels abroad for raising funds for his bail.


While allowing the Sahara Group to either sell or mortgage its hotels in London and New York, the SC said that it would not allow parole or bail for Roy to complete these deals.
The apex court, however, agreed to let Roy be involved in the sale proceedings by allowing him to hold negotiations for the sales in police custody 'whenever and wherever' Roy wished. 
The SC said, “We will allow you to hold negotiations with the clients outside jail between 10am to 4pm under police custody.”
Roy's lawyers had requested the Supreme Court that he be given parole to allow him to be able to raise the funds required to be furnished for bail.
Roy's current internment in Tihar Jail has been ongoing since 4 March 2014. He was jailed for contempt of court when he failed to appear before the court repeatedly in a case relating to raising of funds for two Sahara Group companies. The Supreme Court, in a 2012 order, had ordered the Sahara Group to return 24,000 crore raised by the Group, agreeing with SEBI that Sahara had not met listing norms. 
Subrata Roy and the Sahara Group had been struggling to put together the Rs10,000 crore bail guarantee as ordered by the Court. In this regard, he had sought release for 40 days so that he could negotiate and complete the sale of three overseas hotels owned by the Sahara Group.


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