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Nifty, Sensex still in no man's land – Thursday closing report
We had mentioned in Wednesday’s closing report that Nifty, Sensex were directionless. The major indices of the Indian stock markets were on a mildly bullish trend on Thursday and closed with gains of around 0.5%. However, trading volumes on the NSE were low indicating caution among traders. The trends of the major indices over Thursday’s trading are given in the table below:
 
 
Indian equity markets were lifted by positive global cues and short covering during the mid-afternoon trade session on Thursday. Healthy buying was witnessed in banking, automobile and healthcare stocks. The BSE market breadth was skewed in favour of the bulls -- with 1,610 advances and 865 declines in the mid-afternoon session. On the NSE, on Thursday, there were 977 advances, 444 declines and 71 unchanged.
 
Initially on Thursday, both the key indices opened on a higher note prompted by positive cues from Asian and US markets. The investors' sentiments were also boosted by the decision of the US Federal Open Market Committee (FOMC) to maintain its key lending rates. In addition, short covering and value buying at lower levels aided the key indices to sustain the upward movement. Besides, foreign institutional investors have been continuously on the buying side for the last couple of days, which has extended the support to the Indian markets.
 
Tata Motors Ltd on Thursday delivered 241 buses to the Karnataka State Transport Corporation (KSRTC) under the Jawaharlal Nehru National Urban Renewal Mission. To be deployed on inter-state and intra-state services, the buses are equipped with new-generation Tata Cummins engines, air suspension and multiplex wiring, said a statement issued by Tata Motors. The company did not disclose the value of the deal. Karnataka Chief Minister Siddaramaiah took part in a ceremony representing "handing over" of the vehicles to KSRTC for deploying them on new and existing routes, replacing old buses that have run their course. KSRTC operates a whopping 13,000 Tata buses across the state. Tata Motors shares closed at Rs511.15, up 0.18% on the BSE.
 
At a time when banking majors are finding it difficult to raise capital, Maharashtra-based RBL Bank is expected to hit the market with a premium initial public offer on August 19. Formerly known as the Ratnakar Bank Ltd, the bank is hoping to raise over Rs.1,200 crore, basically to shore up its capital base.  According to the prospectus, the bank will pursue inorganic growth initiatives to strengthen its competitive position, including stakes in small finance and payments bank. The IPO comprises a fresh issue of Rs.832.5 crore and an offer of sale of shares by existing shareholders up to 16,909,628 equity shares. The public issue is the first by a private bank in the past couple of years.
 
Reliance Industries has strongly refuted the claims of the Cellular Operators' Association of India (COAI) that its members are providing sufficient inter-connection points for Jio's 4G services, saying the reality was that such access was grossly inadequate. The reaction follows a statement by the industry body on Wednesday on behalf of its members, including Airtel, Vodafone and Idea, rejecting the request from Reliance Jio for additional points of inter-connect from its member companies on the ground that optimal links have already been provided. "Based on industry practice, 12,500 E1 ports (interconnect points, with technical parameters) are required for 22 million subscribers, which details have been provided to the COAI member operators," said a Reliance Industries statement. "As against this, the top 3 operators have released only 1,400 ports so far," the company said. A rough calculation suggests Jio, as per the above, would need a little over 8,500 ports given a subscriber base of 15 million -- thus, a shortfall of over six times. Jio has set a target of achieving 100 million subscribers in the first year of commercial rollout of its service. Reliance Industries shares closed at Rs1,016.60, up 0.26% on the BSE.
 
Oil prices rallied for a fifth straight session on Wednesday as official data showed US crude stockpiles dropped last week. US oil inventories fell 2.5 million barrels last week, surprising analysts who had expected a build of 522,000 barrels, the Energy Information Administration (EIA) said in its weekly report on Wednesday. US gasoline stockpiles also fell 2.7 million barrels, more than expectations of a 1.6 million-barrel drop, the EIA report showed. US oil has rallied more than 12% over the past five sessions as speculation raised that the talks of Organization of the Petroleum Exporting Countries next month could result in a crude output freeze. This is likely to set the Indian stock markets on a bullish trend.
 
Singapore Telecommunications (Singtel) on Thursday said it will pick up 7.39% stake in Bharti Telecom, the holding company of India's largest telecom service provider Bharti Airtel, a company statement said. “Singtel today entered into conditional share purchase agreements with Temasek to acquire 21% of Intouch Holdings Public Company Limited and 7.39% of Bharti Telecom Limited for a total consideration of S$2.47 billion ($1.8 billion),” the statement said. It mentioned that the acquisitions will be settled fully in cash. “This transaction will be funded through internal cash, short-term debt and proceeds from a share placement of 386 million new Singtel shares to Temasek totalling S$1.605 billion at a price of S$4.16 per new share,” the statement said. The acquisitions are in line with Singtel's long-term strategy to increase its exposure to high-performing associates in its portfolio of leading telecom businesses in the region, it added. Bharti Airtel shares closed at Rs352.40, up 2.07% on the BSE.
 
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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COMMENTS

Prantik Mukherjee

10 months ago

any research on Stovec Industries ?

Pulse Beat
Single People Are Happier!
Single people are usually classified as sad and lonely. On the contrary, a new study shows how they actually have better psychological growth and are more satisfied. The research, titled “What no one ever told you about being single”, and presented at the American Psychological Association’s 124th Annual Convention, challenges the depiction of single life to offer a more accurate portrayal of single people. “The preoccupation with the perils of loneliness can obscure the profound benefits of solitude,” says Bella DePaulo, PhD, a scientist at the University of California-Santa Barbara.
 
Where Is the Zika Virus Epidemic?
The New England Journal of Medicine published the preliminary results of a large study of pregnant Colombian women infected with Zika. Of the nearly 12,000 pregnant women with clinical symptoms of Zika infections until 28 March 2016, no cases of microcephaly were reported as of 2 May 2016. At the same time, four cases of Zika and microcephaly were reported for women who were symptomless for Zika infections and, therefore, not included in the study itself.
 
Brazil’s microcephaly epidemic continues to pose a mystery—if Zika is the culprit, why are there no similar epidemics in other countries also hit hard by the virus? Perhaps there is another reason for the epidemic in Brazil. 
 
According to a new report by the New England Complex Systems Institute (NECSI), the number of missing cases in Colombia and elsewhere raises serious questions about the assumed connection between Zika and microcephaly. Months ago, I had debunked the Zika virus-microcephaly mystery; but no one takes notice. The wrong assumption is good for business but bad for the common man.
 
Epigenetic Process of Evolution
“It is known that the epigenetic alterations of ‘tagging’ are regulated by environmental effects. The authors suggest that environmental factors and the mother’s lifestyle will thus affect ‘tagging’ of the offspring DNA, which will dictate how the offspring genes will be utilized. Interestingly, epigenetic changes also take place throughout life depending on the life style of the person.” This is a remarkable study in the right direction which clearly shows that the environment and not the gene is the boss as was thought earlier.
 
“Cancer cells possibly hijack a mechanism operative in normal cells which provides way how the methyl tagged DNA will be untagged by cutting the DNA at the site of tag and repairing it. It is an interesting idea which needs to be tested,” writes Sibajit Sircar, the first author of this study titled “The Evolution of Epigenetics: From Prokaryotes to Humans and Its Biological Consequences”. 
 
Secrets of Malaria and Toxoplasmosis Parasite Revealed
To survive, the parasites responsible for malaria and toxoplasmosis depend on mechanisms inherited from the plant world. This is what a team of researchers from CNRS1 (Institute for Advanced Biosciences, CNRS/INSERM/Université Grenoble Alpes) and the University of Melbourne2 has shown. 
 
This discovery is a major advance for the development of new therapeutic targets for these parasites. It might take some years before a successful vaccine could be manufactured using this idea. Even the Nobel Prize-winning artimesanin has been found to be useless in many patients, thanks to resistance! 
 
“This discovery of a plant-based ‘Achilles heel’ in the toxoplasmosis and malaria parasites opens a path to new therapeutic perspectives that only target the parasite, without affecting humans,” say the researchers in their paper. 
 

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