Sensex, Nifty hit 10-week low - Business Standard

Key benchmark indices extended losses in early afternoon trade. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit 10-week low. The Sensex was currently trading below the psychological 28,000 mark after falling below that level in opening trade. The Sensex was currently off 321.63 points or 1.14% at 27,790.20. The market breadth indicating the overall health of the market was quite weak, with almost two losers against every gainer on BSE. Weakness in Asian stocks and increase in Brent crude prices weighed on sentiment.

Key benchmark indices extended losses in early afternoon trade. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit 10-week low. The Sensex was currently trading below the psychological 28,000 mark after falling below that level in opening trade. The Sensex was currently off 321.63 points or 1.14% at 27,790.20. The market breadth indicating the overall health of the market was quite weak, with almost two losers against every gainer on BSE. Weakness in Asian stocks and increase in Brent crude prices weighed on sentiment.

Metal and mining stocks declined. Airline stocks declined as crude oil prices edged higher.

Brent crude oil futures rose amid concern over the worsening geopolitical situation in the Middle East after Saudi Arabia said it and its allies had launched airstrikes on rebel forces in Yemen dampened sentiment on domestic bourses.

Higher crude oil prices could increase fiscal deficit and current account deficit and stoke fuel price inflation. India imports 80% of its crude oil requirement.

Indian stocks may remain volatile during the remaining part of the trading session today, 26 March 2015, as traders roll over positions in the futures & options (F&O) segment from the near month March 2015 series to April 2015 series. The near month March 2015 derivatives contracts expire today, 26 March 2015.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 813.19 crore yesterday, 25 March 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 96.52 crore yesterday, 25 March 2015, as per provisional data.

In overseas markets, Asian stocks edged lower as tensions in the Middle East and overnight losses on Wall Street soured sentiment. US markets dropped sharply yesterday, 25 March 2015, as downbeat economic data and continued concerns over the strong US dollar hit investor sentiment.

In the foreign exchange market, the rupee edged lower against the dollar as global oil prices rose amid tensions in Middle East.

At 12:15 IST, the S&P BSE Sensex was down 321.63 points or 1.14% at 27,790.20. The index lost 365.63 points at the day\'s low of 27,746.20 in early afternoon trade, its lowest level since 15 January 2015. The index fell 114.69 points at the day\'s high of 27,997.14 in early trade.

The CNX Nifty was down 79.90 points or 0.94% at 8,450.90. The index hit a low of 8,437.25 in intraday trade, its lowest level since 15 January 2015. The index hit a high of 8,499.45 in intraday trade.

The market breadth indicating the overall health of the market was quite weak, with almost two losers against every gainer on BSE. 1,590 shares declined and 820 shares gained. A total of 84 shares were unchanged.

The BSE Mid-Cap index was off 40.29 points or 0.39% at 10,402.90. The BSE Small-Cap index was off 64.06 points or 0.61% at 10,515.90. The fall in both these indices was lower than the Sensex\'s decline in percentage terms.

The total turnover on BSE amounted to Rs 1260 crore by 12:15 IST compared with turnover of Rs 987 crore by 11:15 IST.

Metal and mining stocks declined. Sesa Sterlite (down 2.04%), JSW Steel (down 2.05%), Steel Authority of India (Sail) (down 0.14%), Hindustan Copper (down 2.02%), National Aluminium Company (down 0.69%), Jindal Steel & Power (down 0.62%) and Hindalco Industries (down 1.54%) edged lower.

Tata Steel (up 0.12%) and Hindustan Zinc (up 0.28%) rose.

NMDC fell 0.32%. A Memorandum of Understanding (MoU) has been signed between NMDC and Ministry of Steel on the commitments of the company pertaining to its performance for the year 2015-16. The announcement was made during market hours today, 26 March 2015. The significant parameters of the MoU are production and sale of iron ore including related financials, project implementation, research & development efforts, environment monitoring, energy conservation, quality compliance, manpower productivity, human resource management and customer satisfaction, NMDC said. However, NMDC did not disclose the actual targets of iron ore production and sale for the year 2015-16.

Airline stocks declined as crude oil prices edged higher. Jet Airways (India) (down 0.98%) and SpiceJet (down 1.86%) edged lower. Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airline\'s operating cost. Prices of jet fuel are directly linked to crude oil prices.

PSU OMCs review jet fuel prices on the last day of the month based on the average imported oil price for the month.

In the foreign exchange market, the rupee edged lower against the dollar as global oil prices rose amid tensions in the Middle East. The partially convertible rupee was hovering at 62.685, compared with its close of 62.335 during the previous trading session.

Brent crude oil futures rose amid concern over the worsening geopolitical situation in the Middle East after Saudi Arabia said it and its allies had launched airstrikes on rebel forces in Yemen dampened sentiment on domestic bourses. Brent for May settlement was up $1.75 a barrel at $58.23 a barrel. The contract had gained $1.37 a barrel or 2.48% to settle at $56.48 a barrel during the previous trading session.

Finance Minister Arun Jaitley reportedly said yesterday, 25 March 2015, that the government hopes to pass the Constitution Amendment Bill for the introduction of a nationwide Goods and Services Tax (GST) in the country during the second half of the Budget session of the parliament. The second half of the Budget session of the parliaments begins on 20 April 2015. The government tabled the Constitution Amendment Bill for GST in the Lok Sabha during the winter session of parliament. GST, touted as the single biggest indirect taxation reforms since independence, will simplify and harmonise the indirect tax regime in the country. Central taxes like Central Excise Duty, Additional Excise Duties, Service Tax, Additional Customs Duty (CVD) and Special Additional Duty of Customs (SAD), etc. will be subsumed in GST. At the state level, taxes like VAT/Sales Tax, Central Sales Tax, Entertainment Tax, Octroi and Entry Tax, Purchase Tax and Luxury Tax, etc. would be subsumed in GST.

Asian stocks edged lower today, 26 March 2015, as tensions in the Middle East and overnight losses on Wall Street soured sentiment. Key benchmark indices in Taiwan, Indonesia, Japan, Hong Kong and South Korea fell by 0.07% to 1.39%. Key benchmark indices in China and Singapore rose by 0.49% to 0.51%.

Trading in US index futures indicated that the Dow could fall 21 points at the opening bell today, 26 March 2015. US markets dropped sharply yesterday, 25 March 2015 as downbeat economic data and continued concerns over the strong US dollar hit investor sentiment.

In economic data, US business investment spending plans fell for a sixth straight month in February weighed down by a strengthening dollar, weak global demand and restrained activity due to poor weather. The Commerce Department said yesterday, 25 March 2015, that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dropped 1.4% in February after a revised 0.1% dip in January.

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Arvind Kejriwal adamant on removal of Yadav, Bhushan from AAP's National ... - Zee News

New Delhi: The internal rift within Aam Aadmi Party has widened with party chief and Delhi Chief Minister Arvind Kejriwal insisting on Yogendra Yadav and Prashant Bhushan's removal from the National Executive, ahead of the crucial National Council meeting on March 28.

According to news agency ANI, AAP sources have confirmed that Kejriwal is adamant on removal of Bhushan and Yadav from National Executive.

The AAP sources further said that as long as Yadav and Bhushan are in the party, Kejriwal has refused to take calls related to party work and its responsibilities.

Resolution will be moved in National Council to remove Yadav and Bhushan. The final decision will be taken by voting on the resolution, the sources added.

Reports suggest that Kejriwal conveyed his stand during AAP's Political Affairs Committee (PAC) held on Wednesday evening.

The PAC is scheduled to meet at 6 pm again today at Kejriwal's residence and deliberate on the contentious issue.

Sources said Yadav and Bhushan made it clear that there was no valid ground for them to step down from the 21-member National Executive and Kejriwal loyalists should instead address the issues raised by them.

Last ditch efforts by party Lokpal Admiral Ramdas to push for reconciliation failed to make any headway with both camps sticking to their stands.

However, Ilyas Azmi, member of the Political Affairs Committee (PAC), said patch-up efforts were still underway. "We will keep trying till the last minute," he said after the PAC meeting here.

Ahead of the meeting, Ramdas, a former Navy chief, held deliberations with Kejriwal for more than an hour, during which he is understood to have conveyed to the party leader to take steps to restore unity and peace in the party.

"He (Kejriwal) is not willing to concede and has been demanding resignation of Bhushan and Yadav. Even Ramdas tried to intervene, but it is heading nowhere," said a leader close to Yadav.

Those backing Bhushan and Yadav said that the two leaders will not concede to the demands of Kejriwal.

The internal rift figured in the PAC, the highest decision-making body, where majority of the members reasserted their strong support to Kejriwal.

The party's NC is expected to deliberate on the issues in the party. Both Kejriwal and Yadav are trying to consolidate volunteers support ahead of the meeting.

The talks that began last week with the aim of bridging the trust deficit between the two groups after Yadav and Bhushan were ousted from the PAC showed no signs of rapprochement.

Yadav and Bhushan have been pressing for resolution of key issues like implementation of critical matters such as volunteer participation in AAP's decision making, autonomy to its state units, bringing the party under the ambit of RTI and appointment of Lokayukta at the state level.

Late in the night, Yogendra Yadav tweeted:  

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Delhi Daredevils name JP Duminy as skipper for IPL 8 - Zee News

New Delhi: South African all-rounder JP Duminy will lead Delhi Daredevils in the eighth edition of the Indian Premier League cricket tournaent, starting next month.

Duminy was roped in by the Daredevils last season and was the star performer for the franchise. He was recently named as South Africa's T20 captain.

"I'm grateful for the support and belief from the franchisee. It's an absolute privilege to lead such a talented mix of players. I am excited about the season ahead and sincerely hope, we will be able to turn around the fortunes of Delhi Daredevils in the upcoming IPL season," Duminy said in a statement.

Daredevils head coach Gary Kirsten added: "JP (Duminy) is the right choice to lead the team for the upcoming season. He has the necessary experience and demeanour to take the team forward. I have seen him progress and mature as a player and leader through the years with the South African national team."

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First arrest made in Bengal nun gangrape case - The Indian Express

More than 10 days after an elderly nun was allegedly brutalized at a convent school in Ranaghat, the West Bengal Criminal Investigation Department (CID) in a joint operation with the Mumbai police has made the first arrest in the case from Mumbai.

The accused identified as Sikandar Shaikh alias Salim was arrested from his friend's residence in Nagpada in South Mumbai.

Confirming the development , Mumbai Police Commissioner , Rakesh Maria told The Indian Express, "The West Bengal team had the lead, they shared the information with us and sought our assistance. The assistance was provided and the accused was arrested from the Nagpada area and has been taken away by the Bengal team," he said.

The team sought his transit remand and will reach Bengal by Thursday afternoon.

A bunch of dacoits had robbed the convent in Ranaghat in Nadia district of Bengal in the wee hours of March 14 and in the process had allegedly gangraped a 71-year-old nun. The incident sparked nationwide outrage and forced Chief Minister Mamata Banerjee to request a CBI probe into the incident.

The suspected gang is believed to have carried out the operation from a house on the Bengal-Bangladesh border. After the crime,  some members are believed to have escaped to Bangladesh. Salim closely resembles one of the photos captured on the CCTV of the Ranaghat convent school, police said.

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Shah Rukh Khan, Farhan Akhtar, Ayushmann Khurrana tweet messages to ... - Daily News & Analysis

Expressing their frustration over the drubbing Team India received at the hands of the Aussies in the first part of the World Cup semi-final at the Sydney Cricket Ground, Bollywood stars on Thursday urged the Men in Blue to play with and for pride.

Expressing their frustration over the drubbing Team India received at the hands of the Aussies in the first part of the World Cup semi-final at the Sydney Cricket Ground, Bollywood stars on Thursday urged the Men in Blue to play with and for pride.

"Dear Indian team, this kind of speed and patience is only appreciated in bed. #KheloDumLagake #IndvsAus #CWC15," tweeted Ayushmann Khurrana.

Superstar Shah Rukh Khan also expressed his nervousness at the team's prospects. "Awake with team Fan….watching the match. Too nervous suddenly. Go India…love you and we r all screaming our hearts out!!!!"- Shah

Meanwhile, newly-wed star Soha Ali Khan said, "Well we've kept them to an achievable, but challenging target -well done to our bowlers, fielders - and now it's up to our batsmen".

Farhan Akhtar, who is currently working on the 'Rock On' sequel, summed up the mood of the entire country by tweeting, "The tougher the challenge, the sweeter the victory. Come On India...!!!!"
 

Team India is facing a record run chase at the Sydney Cricket Ground, where the Aussies have put up a massive score of 328 for Dhoni's boys. (ANI)

Ends SK
NNNN

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Saudi Arabia, allies launch air strikes in Yemen against Houthi... - Hindustan Times

Saudi Arabia and Gulf region allies launched military operations including air strikes in Yemen on Thursday, officials said, to counter Iran-allied forces besieging the southern city of Aden where the US-backed Yemeni president had taken refuge.

Gulf broadcaster al-Arabiya TV reported that the kingdom was contributing as many as 150,000 troops and 100 warplanes to the operations and that Egypt, Jordan, Sudan and Pakistan were ready to take part in a ground offensive in Yemen.

At least 13 civilians were killed early in the air strikes, a civil defence source said. "Thirteen civilians, including women and children, were killed in the Saudi raids overnight," the source said. Witnesses said residents were helping civil defence officials to search for any more victims under the rubble of seven houses damaged in the raids.

The Iranian foreign ministry condemned on the military operation by Saudi Arabia andits Gulf Arab allies in Yemen, state television reported. Iran denies providing money and training to the Shi'ite Houthi militia in Yemen, as claimed by some Western and Yemeni officials.

There was no immediate confirmation of those figures from Riyadh. Al-Arabiya also said planes from Egypt, Morocco, Jordan, Sudan, Kuwait, the United Arab Emirates, Qatar and Bahrain were taking part in the operation.

A widening Yemen conflict could pose risks for global oil supplies, and Brent crude oil prices shot up nearly 6% soon after the operation began.

Unidentified warplanes had earlier launched air strikes on the main airport in the Yemeni capital, Sanaa, and its al Dulaimi military airbase, residents said.

That came soon after Saudi Arabia's ambassador in Washington, Adel al-Jubeir, announced the operation.

"We will do whatever it takes in order to protect the legitimate government of Yemen from falling," Jubeir told a news conference.

Yemen's slide towards civil war has made it a crucial front in mostly Sunni Saudi Arabia's rivalry with Shi'ite Iran, which Riyadh accuses of stirring up sectarian strife throughout the region and in Yemen with its support for the Houthis.

The crisis now risks spiralling into a proxy war with Iran backing the Houthis, and Saudi Arabia and the other regional Sunni Muslim monarchies supporting Yemeni President Abd-Rabbu Mansour Hadi.

Fighting has spread across the Arabian peninsula country since last September, when the Houthis seized Sanaa and advanced into Sunni Muslim areas, forcing Hadi out of the capital.

Al Qaeda branch

Jubeir said the assaults had been launched in response to a direct request by Hadi, who supported Washington's campaign of deadly drone strikes on a powerful al Qaeda branch based in Yemen. He has been holed up in Aden with loyalist forces since he fled Sanaa in February.

Hadi remains in his base in Aden and was "in high spirits",one of his aides said after the operation began.

A senior leader of Yemen's Houthi movement said the Saudi air strikes amounted to aggression against his country and warned they would set off a "wide war" in the region.

Houthi-run al-Masirah television reported that the Saudi-led air strikes had hit a residential neighbourhood north of Sanaa and caused dozens of casualties. It also urged medical personnel to report to hospitals in Sanaa immediately.

No independent verification of any casualties was immediately possible.

The White House said in a statement late on Wednesday the United States supported the operation, led by the Arab Gulf Cooperation Council countries, and that President Barack Obama had authorised US "logistical and intelligence support".

Although the news sparked jitters in the oil market, Asian importers said they were not immediately worried about supply disruptions.

Most oil tankers from Arab producers such as Saudi Arabia, the United Arab Emirates, Kuwait and Iraq have to pass Yemen's coastlines via the narrow Gulf of Aden in order to get through the Red Sea and Suez Canal to Europe.

The 40 km (25 mile)-wide strait between Yemen and Djibouti and the Strait of Hormuz between the Arabian peninsula and Iran are both considered chokepoints to global oil supplies by the US Energy Information Administration.

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World Cup 2015 1st semi- final : New Zealand chase 298 in 43 overs - Tehelka

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Dec 16 gangrape film: SC seeks reply from advocates of accused - Hindustan Times

The Supreme Court on Tuesday sought an explanation from the two defence lawyers in the December 16, 2012 gangrape case for allegedly making derogatory remarks against women in the BBC documentary 'India's Daughter'.

The court passed the order on a petition filed by the Supreme Court Women Lawyers Association.

"We have heard the argument, pleadings and grievances urged in the petition. The matter requires consideration in view of the factual and legal submissions," a bench comprising justice V Gopala Gowda and justice C Nagappan said.

The bench issued notices to the two advocates, M L Sharma and A P Singh, and sought their response in two weeks.

The Supreme Court Women Lawyers Association, in its petition, had sought restriction on the entry of the two advocates in the apex court premises, alleging that their remarks in the controversial BBC documentary were "inhumane, scandalous, unjustifiable, biased, outrageous, ill-minded" and are a "direct affront to and in violation of the dignity of women", especially those practicing in the Supreme court.

The Supreme Court Bar Association (SCBA) supported the plea of women laywers association.

Senior advocate Vibha Datta Makhija, appearing the women's association, submitted that the Supreme Court has to lead from the front and show zero tolerance for such views.

"We need an environment where we are fearless," she said and added that the two advocates need to be sensitised.

Senior advocate Dushyant Dave, appearing for SCBA, submitted that there should be a meaningful and proper implementation of gender sensitisation regulation.

He said, "SCBA has taken a unanimous decision to take action against Sharma."

The petition had sought protection of fundamental rights, guaranteed under the Constitution, of the female advocates practicing in the apex court to work with dignity and without any gender bias.

The comments were made in the BBC documentary 'India's Daughter' on the December 16, 2012 gangrape incident.

The petition, filed through advocate Mahalakshmi Pavani, has made chairperson of gender sensitisation committee and registrar of the apex court as parties and submitted a transcript of the two lawyers' comments.

It also sought court's direction to Sharma and Singh to issue public apology in media for holding and making public views which are "absolutely derogatory to the dignity of women" and refraining from issuing such statements in future.

The two advocates be also directed to retract their statements and their apology should also be included in the BBC documentary, the petition had said.

The association, represented by secretary Prerna Kumari, had said in the petition that the remarks made by the two advocates showed they do not have respect for any woman and do not see them as more than an object.

It had added that the conduct of these lawyers showed complete absence of any concern for society and utter disregard of the Constitutional values and human rights of women besides the ethics and etiquette of the Bar.

It is much more than a crime, the petition said.

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Angelina Jolie opens up about double mastectomy - Times of India

In her column written for Nytimes.com, Hollywood actress Angeline Jolie spoke at length about her choice to have a preventive double mastectomy two years ago, after it was revealed through a simple blood test that she carried a mutation in the BRCA1 gene that put her at 87 percent risk of breast cancer and 50 percent risk of ovarian cancer. The actress wrote that she lost her mother, grandmother and aunt to cancer.

Angelina wants other women at risk to know about the available options and she promised to follow up with any information that could be useful, including about her next preventive surgery, the removal of her ovaries and fallopian tubes.

READ: It's direction over acting for Angelina Jolie

The actress revealed that she had been planning this surgery, which has severe effects as it puts a woman into forced menopause, for some time. She expressed that she was readying herself physically and emotionally, discussing options with doctors, researching alternative medicine, and mapping her hormones for estrogen or progesterone replacement.

Angelina conducts the medical tests every year because of her family history. In her column, she recalled how she felt when her doctor asked her to see the surgeon immediately to check her ovaries. She asked herself to stay calm, to be strong, and that she had no reason to think she wouldn't live to see her children grow up and to meet her grandchildren. She called her husband in France, who was on a plane within hours.

Angelina further revealed how full of happiness she was on the day of the results when the tumour test came out to be negative. She further stated that she underwent a laparoscopic bilateral salpingo-oophorectomy last week and that there was a small benign tumor on one ovary, but no signs of cancer in any of the tissues. Angelina wants to ensure that her children will never have to say, "Mom died of ovarian cancer."

The actress feels deeply for women for whom this moment comes very early in life, before they have had their children. According to her, it is not easy to make these decisions. But it is possible to take control and tackle any health issue head-on.

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WATCH: Brad Pitt and Angelina Jolie's wedding

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Supreme Court strikes down Section 66A of IT Act which allowed arrests for ... - Times of India

NEW DELHI: The Supreme Court on Tuesday declared Section 66A of Information Technology Act as unconstitutional and struck it down.

This section had been widely misused by police in various states to arrest innocent persons for posting critical comments about social and political issues and political leaders on social networking sites.

The court said such a law hit at the root of liberty and freedom of expression, two cardinal pillars of democracy.

READ ALSO: All you need to know about Section 66A of IT Act

Section 66A quashed: Key points of SC verdict

The court said such a law hit at the root of liberty and freedom of expression, the two cardinal pillars of democracy. The court said the section has to be erased from the law books as it has gone much beyond the reasonable restrictions put by the Constitution on freedom of speech. The Supreme Court said section 66A was vaguely worded and allowed its misuse by police.

The court, however, upheld the validity of section 69B and the 2011 guidelines for the implementation of the I-T Act that allowed the government to block websites if their content had the potential to create communal disturbance, social disorder or affect India's relationship with other countries.

However, the court watered down section 79 of the I-T Act making it further difficult for the police to harass innocent for their comments on social network sites.

READ ALSO: ​Centre defends Section 66A of IT Act

Sec 66A draconian, but is needed: Govt

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The SC delivered its judgment on a bunch of petitions filed in the light of misuse of the penal provision by government authorities against persons who allegedly uploaded offensive posts on social networking sites.

The petitioners, including NGOs, civil rights groups and a law student, had argued that Section 66A violated citizens' fundamental right to freedom of speech and expression. The first petition was however filed by a law student Shreya Singhal.

The government had opposed the plea for quashing the provision saying it is meant to deter people from uploading grossly offensive material which can lead to lawlessness by inciting public anger and violence.

Justifying the retention of the provision, the Centre had told the apex court that the impact of the internet is much wider and restriction on this medium should be higher in comparison to print and TV.

It had said, unlike print and electronic media, the internet did not operate in an institutional form and there was need for some mechanism to put checks and balances.

The government had said the provision could not be quashed just because of its potential misuse. Posting pictures and comments on social networking sites which hurt religious sentiments could not be tolerated and people must be prosecuted, it said.

Read this in Hindi: सुप्रीम कोर्ट का बड़ा फैसला, सोशल मीडिया पोस्‍ट पर तुरंत नहीं होगी जेल

Former attorney general Soli J Sorabjee, who appeared for one of the petitioners, termed the judgment a 'glorious vindication' of right to free speech. He spoke to the TOI after SC bench of Justices J Chelameswar and R F Nariman struck down section 66A as unconstitutional. Sorabjee said: "The judgment is well researched, well reasoned and erudite in expression. It is a glorious vindication of freedom of expression."

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