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Sensex settles 343 points lower over growth slowdown concerns

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The Indian equity market ended in the red on Wednesday in line with global indices on fears of a worldwide slowdown which was intensified after China reported a weak PMI manufacturing data.
 
Sector-wise, auto counters took a beating ending 2.80 per cent lower a day after companies reported disappointing sales data.
 
The S&P BSE Sensex settled 363.05 points or 1 per cent lower at 35,891.52 points after touching an intra-day high of 36,236.70 and a low of 35,734.01.
 
The NSE Nifty50 closed at 10,792.50 points, up 117.60 points or 1.08 per cent.
 
The only silver lining in the otherwise dismal trading session were the gains made by export-oriented IT and TECK stocks. They inched up as the rupee weakened over 50 paise to 70 per dollar after closing at 69.45 on Tuesday.
 
The benchmark Brent crude prices declined over half a per cent to $53.19 per barrel.
 
According to analysts, the weakening in the rupee was largely owing to fears of a global growth slowdown and multiple factors which have created a negative environment for investors globally.
 
Major markets across the globe had concluded the year 2018 with heavy losses. However Indian markets were among the best performers on account of rise in the pace of economic expansion and reduced inflation. 
 
IANS

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Equity indices open in red, Sensex down over 100 points

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The key Indian equity indices opened in the negative territory on Wednesday with the S&P BSE Sensex losing over 100 points.
 
Auto and metal stocks witnessed heavy selling pressure on the indices.
 
At 9.23 p.m., the Sensex traded at 36,139.31 points, lower by 115.26 points or 0.32 per cent from the previous close of 36,254.57 points.
 
It had opened at 36,198.13, and so far it has touched an intra-day high of 36,203.12 and a low of 36,035.78 points.
 
The Nifty50 on the National Stock Exchange traded at 10,875.30, lower by 34.80 points or 0.32 per cent from the previous close of 10,910.10 points.
 
IANS

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Sensex ends in green after last hour pull-back

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Sensex closed over 180 points higher from the previous close after a sharp recovery in the final hour of the trade on Tuesday, thereby regaining the 36,000 mark.
 
Both the key indices opened on a flat-to-positive note, but traded in the red for most part of the trading session. The S&P BSE Sensex gained around 200 points in the last hour of trade.
 
Stocks of the realty sector on NSE and BSE out-performed the major indices throughout the session, ending with 2.21 per cent gains. 
 
That apart, finance stocks also edged higher, gaining close to 1 per cent.
 
The Sensex settled 186.24 points or 0.52 per cent higher at 36,254.57 after touching an intra-day high of 36,284.04 and a low of 35,888.62.
 
The Nifty50 closed at 10,910.10 up 47.55 points or 0.44 per cent.
 
Bharti Airtel led the gains on Sensex with 2.76 per cent gains. HDFC, Yes Bank, HDFC Bank, State Bank of India and Axis Bank inched up in a range of 1 to 2 per cent.
 
In contrast, Mahindra and Mahindra lost 3.75 per cent over dismal December sales figures released earlier in the day.
 
Tata Steel, ONGC, Hindustan Uniliver, IndusInd Bank and Kotak Mahindra Bank declined upto 1.20 per cent.
 
IANS

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Actor Prakash Raj to join politics

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Actor Prakash Raj, who has been critical of Prime Minister Narendra Modi and his government, announced on Tuesday that he will contest the Lok Sabha elections as an independent candidate.
 
"Happy New Year to everyone. A new beginning... more responsibilities... With your support, I will be contesting in the coming Parliament elections as an independent candidate. Details of the constituency soon. Ab ki baar Janata ki sarkar," Prakash tweeted.
 
The multiple National award-winning actor has often used social media and public platforms to criticise Modi and the BJP, especially on issues like intolerance and vigilante attacks. He has not indicated from where he will contest. 
 
In November, he had posted a tweet referring to Modi: "Dear Supreme Leader... before giving gyan on foul language to other parties... will you and your party begin Swachh Bharat first from your own motor mouths?"
 
Prakash is a known name in the southern film industry. He has featured in movies like "Iruvar", "Anthapuram" and "Kanchivaram". He has also made his presence felt in Bollywood with movies like "Singham" and "Wanted".
 
IANS

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Veteran Bollywood actor-director Kader Khan passes away at 81

Kader Khan
Kader Khan
Veteran Bollywood actor-director-writer-comedian and Quranic scholar Kader Khan died after a prolonged illness at a hospital in Toronto in Canada, a family member said here on Tuesday.
 
Kader, 81, is survived by his wife Hajra, son Sarfaraz, daughter-in-law, and grandchildren.
 
According to Ahmed Khan, a close relative, he passed away around 4 a.m. (IST). He added that the last rites will be held in a Toronto cemetery later in the day.
 
Reported to be critical and on a ventilator, rumours of Kader's demise had been doing the rounds on social networks and some media outlets (not IANS), since the past five days, which left the family and other relatives traumatised.
 
He spent nearly four months in hospital, for various old-age related ailments including breathing issues and finally succumbed on December 31 evening (Toronto time).
 
Born on October 22, 1937 in Kabul, Afghanistan, to a Pashtun family, Kader Khan was educated in a municipal school and later graduated from Mumbai's Ismail Yusuf College, Jogeshwari, a government-run institution.
 
An avid reader and a film-buff, he had a huge collection of books on various subjects related to film-making, acting, screenplay writing, penning story-dialogues and other departments, and had a mastery over Urdu.
 
Starting with his first film as an actor in "Daag", (1973), over the next 35 years he went on to act in over 300 films in memorable roles, and also wrote the story or dialogues for more than 250 films in Hindi and Urdu, starting with "Roti" (1974).
 
Some of his most memorable films as a comedian-character actor are: "Daag", "Adalat", "Bairaag", "Parvarish", "Muqaddar Ka Sikandar, "Shalimar", "Mr. Natwarlal", "Suhaag", "Dhan Daulat", "Qurbani", "Jwalamukhi", "Abdullah", "Naseeb", "Ahista Ahista", "Yaarana", "Zamaane Ko Dikhana Hai", "Satte Pe Satta", "Raaz", "Desh Premee", "Sanam Teri Kasam", "Mehndi Rang Layegi", "Himmatwala", "Coolie", "Ghar Ek Mandir", "John Jaani Janardhan", "Tawaif", "Loha", "Jawab Hum Denge", "Shahenshah", "Pyar Ka Mandir", "Khoon Bhari Maang", "Vardi", "Baap Numbri, Beta Dus Numbri", "Pyar Ka Devta", "Saajan", "Bol Radha Bol", "Meherbaan", "Aankhen", "Eena Meena Deeka", "Coolie No.1", "Saajan Chale Sasural", "Judaai", "Dulhe Raja," "Aunty No.1" and "Sooryavansham".
 
He penned the story-dialogues for top-grossing films like: "Jawani Diwani", "Benaam", "Roti", "Amar Akbar Anthony", "Parvarish", "Muqaddar Ka Sikandar", "Suhaag", "Mr. Natwarlal, "Yaarana", "Lawaaris", "Desh Premee", "Khuddar", "Coolie", "Sharaabi", "Ganga Jamna Saraswati", "Singhasan", "Khoon Bhari Maang" and "Aunty No. 1". He also produced a film, "Shama" in 1981.
 
IANS
 

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Sensex, Nifty open flat; financials in red

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Key Indian equity indices opened flat on Tuesday as index pivotals -- finance and banking stocks -- witnessed selling pressure.
 
However, oil and gas sector gained.
 
The S&P BSE Sensex opened at 36,161.80 from its previous close of 36,068.33 on Monday. At 9.25 a.m., the Sensex traded 64.82 points or 0.18 per cent lower at 36,003.51.
 
The NSE Nifty 50 opened at 10,881.70 after closing at 10,862.55 on Monday.
 
The Nifty 50 traded at 10,842.90 during the morning trade session, up 19.65 points and 0.18 per cent.
 
Even though the 2018 gains were marginal, both the Sensex and Nifty50 emerged among the best in attaining the highest growth rates globally.
 
They were among the best performing benchmark indices in the BRICS (Brazil, Russia, India, China, South Africa).
 
IANS
 

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Veteran actor-director Kader Khan passes away

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Veteran Bollywood actor-director-writer-comedian and Quran scholar Kader Khan died after a prolonged illness at a hospital in Toronto in Canada, a family member said here on Tuesday.
 
Kader, 81, is survived by his wife Hajra, son Sarfaraz, daughter-in-law, and grandchildren.
 
According to Ahmed Khan, a close relative, he passed away around 4 a.m. (IST).
 
He said the last rites will be held in a Toronto cemetery later in the day.
 
IANS
 
 
 
 

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RCOM, Jio extend validity of asset-sale deal to June 28

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Reliance Communications (RCOM) and Reliance Jio on Monday announced the extension of their agreement for selling RCOM's wireless infrastructure including towers, fibres and spectrum to the Mukesh Ambani-led Reliance Jio.
 
The decision comes amidst the pending approval of the Department of Telecommunications (DoT) to the asset-sale deal.
 
"RCOM and Reliance Jio Infocomm Ltd have extended the validity of the agreements signed on 28th December 2017 for sale of towers, fibre, MCNs and spectrum of RCOM and its affiliates to June 28, 2019. The transactions are to be consummated subject to various approvals that are presently in progress," RCOM said in a regulatory filing to the BSE.
 
In a separate filing, Reliance Industries (RIL) said: "The acquisition is subject to receipt of requisite approvals from governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions precedent."
 
RCOM, headed by Mukesh Ambani's younger brother Anil Ambani, has been urging the DoT to grant the required approval in compliance with the Supreme Court's December 14 order where it had told the Telecom Department to clear the asset-sale deal. 
 
IANS
 

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Sensex, Nifty end 2018 on a tepid note

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The last trading session of 2018 on the Indian stock markets ended on a flat note with the Sensex declining 8 points and the Nifty adding just 2 points to its previous close.
 
"Quite a volatile and eventful year, closed on a very steady and benevolent note. Equity markets and bond yields are very close to last year's levels. Crude is down and rupee has recovered substantially. Hope for steadier and stable markets in 2019," Economic Affairs Secretary Subhash Chandra Garg tweeted.
 
Although the indices were in the green for most part of the day, they were dragged down from the highs by weakness in key sectors like realty, oil and gas and energy.
 
"European stocks traded slightly higher on the final day of 2018, while stocks in Hong Kong rose more than 1 per cent in an abbreviated trading session," said Abhijeet Dey, Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
 
"Investors were also encouraged by signs that the US and China are working towards a trade deal." 
 
Earlier, domestic stocks, in line with global markets, edged up after US President Donald Trump tweeted: "Just had a long and very good call with President Xi of China."
 
"Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made," he added.
 
The S&P BSE Sensex settled 8.39 points or 0.02 per cent lower at 36,068.33 after touching an intra-day high of 36,285.46 and a low of 36,033.95.
 
The Nifty 50 ended at 10,862.55 up 2.65 points or 0.02 per cent.
 
The benchmark Brent Crude price was also flat at $54.10 per barrel ahead of the production cut by OPEC and other oil producers which will take affect from January 1. 
 
"OPEC had earlier said that they consider the $50-60 per barrel range as stable. Now that the Brent crude price slid below 50 earlier in December. We expect a further production cut," Anuj Gupta of Angel Broking told IANS.
 
The Indian currency ended at 69.76 per dollar. It had closed at Rs 69.94 last week.
 
According to the provisional figures from the stock exchanges, foreign institutional investors (FIIs) sold shares worth Rs 326.87 crore, while domestic institutional investors (DIIs) bought Rs 321.98-crore stocks.
 
Stock-wise, Tata Steel gained close to 1.59 per cent on Monday. Vedanta, Sun Pharma, Tata Motors and IndusInd Bank also rose above 1 per cent.
 
In contrast, telecom major Bharti Airtel lost 1.04 per cent, the most among the 30-stock Sensex. 
 
Axis Bank, Hero MotoCorp, Coal India, Maruti Suzuki and HDFC lost up to 1 per cent.
 
IANS
 

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Equity indices open in green, Sensex up 200 points

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The key Indian equity indices opened on a positive note on Monday with the S&P BSE Sensex trading 200 points higher.
 
In the Asian markets, too, indices traded on a positive note so far in the day.
 
At 9.19 a.m., the Sensex traded at 36,277.86 points, higher by 201.14 points or 0.56 per cent from the previous close of 36,076.72 points.
 
It had opened at 36,239.19 and so far, it has touched an intra-day high of 36,285.46 and a low of 36,232.11 points.
 
The Nifty50 on the National Stock Exchange traded at 10,859.90, higher by 80.10 points or 0.74 per cent from the previous close of 10,779.80 points.
 
IANS
 

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Anupam Kher against special screening of 'The Accidental Prime Minister'

 
No prior screening for ‘The Accidental Prime Minister’: Anupam Kher
As controversy erupted over upcoming film "The Accidental Prime Minister", a biopic on former Prime Minister Manmohan Singh, lead actor of the movie Anupam Kher on Friday said that. after certification of a film by the censor board, nobody has the right to ask for a screening of the film before its release.
 
Earlier in the day, Satyajeet Tambe Patil - President of the Maharashtra State Youth Congress, sent a letter to the producer of the film demanding a special screening before it is released. He raised objections to "incorrect presentation of the facts" in the film, the trailer of which was released on Thursday.
 
Sharing his view on the issue, Kher, who is narrating the character of Singh, told the media: "It's nobody's right to ask us to show our film to them before releasing it. The film is based on the book (by the same title), and it is based on facts. 
 
"We have bought the rights and have followed all the legalities. Everything was in the public domain... Now, how can people have issues? Why should I screen it for anyone? We have shown it to the CBFC (Central Board of Film Certification), that's enough."
Actor Anupam Kher as former Prime Minister Manmohan Singh in
Actor Anupam Kher as former Prime Minister Manmohan Singh in "The Accidental Prime Minister". (Photo: IANS)
However, he added: "If Dr Manmohan Singh asks us, we will show him for sure."
 
Directed by Vijay Ratnakar Gutte, the film also features Akshaye Khanna, Aahana Kumra and Arjun Mathur, among others.
 
While many Congress members found the film objectionable, the Bharatiya Janata Party (BJP) promoted its trailer in social media.
 
"I have done more than 500 films...there are not even that many political parties. So how can one say that I made this film to support any party?" he responded when mediapersons asked if he is doing the film to extend support to the BJP.
 
Asked if this is one of the strategies to make a political statement ahead of the 2019 elections, the National award winning actor said: "Why not? What is the problem in releasing a political film around elections? We do release patriotic films on national holidays..."
 
The film is scheduled to release on January 11.
 
IANS
 

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Global markets, strong rupee propels indices; Sensex up 269 pts

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Positive global markets coupled with a strengthened rupee and short-covering led the key equity indices to gain around 0.73 per cent on Friday.
 
Besides, healthy buying in finance stocks after reports of fresh capital infusion in public sector banks led the gains. This sectoral index has the highest weightage among all the sectors on the BSE. It rose 1.13 per cent.
 
"Markets were up on the news of fresh infusion of capital in public sector banks," Anuj Gupta of Angel Broking told IANS. 
 
Index-wise, the BSE Sensex settled 269.44 points or 0.75 per cent higher at 36,076.72 points after touching an intra-day high of 36,194.78 and a low of 35,911.99.
 
The NSE's Nifty50 gained 78.65 points or 0.73 per cent to finish at 10,858.45 points.
 
According to Vinod Nair, Head of Research at Geojit Financial Services, market extended the rally by taking positive cues from global market.
 
"Investors remain focused on global growth momentum while easing tension between US government and US Fed provided an opportunity to accumulate stocks after recent consolidation," Nair said. 
 
On the currency front, the Indian rupee gained over 40 paise against the US dollar and settled at 69.94 from its previous close of 70.35.
 
"The rupee has appreciated smartly in recent sessions on account of sharp decline in the crude oil prices in the international market. This bodes well for the rupee as weak crude oil prices may lead to further decline in inflation and narrow current account deficit," said Rushabh Maru - Research Analyst, Anand Rathi Shares and Stock Brokers.
 
"However, there is lot of uncertainty and volatility in the global markets. Concerns regarding slowdown in global economic growth, trade tension, tightening of monetary policy etc may create jitters in the global markets."
 
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According to the provisional figures from the stock exchanges, foreign institutional investors (FIIs) sold shares worth Rs 119.60 crore, while domestic institutional investors (DIIs) bought stocks worth Rs 1,199.40 crore.
 
"Technically, with the Nifty surging higher, the short-term trend for the Nifty remains positive. Further upsides are likely once the immediate resistance of 10,893 is taken out," said Deepak Jasani, Head - HDFC Securities' Retail Research.
 
"Crucial supports to watch for any weakness are at 10,820."
 
Stock-wise, Sun Pharma gained close to 3 per cent on Friday. Bajaj Finance, Vedanta, HDFC and Yes Bank gained in the range of 1 to 2 per cent.
 
In contrast, IT major TCS lost the most among the 30-stock Sensex. Bajaj-Auto, Asian Paints, Bharti Airtel and Hero Moto Corp and Coal India were the only other laggards which lost up to 1 per cent.
 
IANS
 

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India’s forex reserves rise by $ 167.2 million to $ 393.288 billion

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India’s foreign exchange reserves rose by $ 167.2 million to $ 393.288 billion during the week ended December 21, the Reserve Bank of India  (RBI) said here today.
 
The country’s forex reserves had dipped by $ 613.9 million to $ 393.12 billion during the previous  week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 105.2 million to $ 367.971 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves increased by $ 37.2 million to $ 21.224 billion, while its special drawing rights (SDR) went up by $ 8.9 million to $ 1.459 billion.
 
India’s reserve position in the International Monetary Fund (IMF) increased by $ 15.9 million to $ 2.633 billion, the bulletin added.
 
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Sensex ends 269 points up, Nifty settles at 10,858

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Tracking overnight gains in the US markets, the key equity indices -- the BSE Sensex and the Nifty50 -- closed on Friday with 0.75 per cent gains. Taking cues from the Asian markets both indices stayed comfortably in the green throughout the day's trade.
 
Finance stocks, which have the highest weightage among all the sectors on the BSE, rose 1.13 per cent and led the gains.
 
"Markets were up on the news of fresh infusion of capital in public sector banks," Anuj Gupta of Angel Broking told IANS. 
 
The S&P BSE Sensex settled 269.44 points or 0.75 per cent higher at 36,076.72 after touching an intra-day high of 36,194.78 and a low of 35,911.99.
 
The NSE's Nifty50 gained 78.65 points or 0.73 per cent to finish at 10,858.45.
 
The Indian rupee rose by 30 paise at Rs 70.01 against the US dollar from its previous close of 70.35.
 
Stock-wise, Sun Pharma gained close to 3 per cent on Friday. Bajaj Finance, Vedanta, Yes Bank and HDFC gained in the range of 1 to 2 per cent.
 
In contrast, IT major TCS lost the most among the 30-stock Sensex. Bajaj-Auto, Bharti Airtel and Hero Moto Corp were the only other laggards who lost upto 1 per cent each.
 
IANS
 

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JioCinema to offer Disney content to users

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JioCinema, the digital app of telecom services provider Reliance Jio, and Disney have come together to offer content from brands such as Disney, Pixar, Marvel, and Lucas film to Jio users across age groups. 
 
"For the first time ever, the app will host a dedicated Disney branded section on the homepage with content spanning across movies, animation, series and shorts," a press release from Jio said.
 
The release said that, through this association, Jio users can get access to stories ranging from Disney Classics, Pixar animation, movies from Marvel and Star Wars along with a host of international as well as locally created content which they can enjoy on-the-go. 
 
"With content available for the entire family, the app also offers a diverse collection of series and movies for kids and teens along with Marvel kids’ animation shows.
 
"In addition to this, the app also brings in a unique character customization option where fans can choose from their favourite Disney, Marvel, Pixar or Star Wars character such as Mickey Mouse, Captain America, and Lightening McQueen and browse the entire range of content available on that character," the release said.
 
"JioCinema is now home to heartwarming stories and memorable characters from Disney like The Jungle Book, The Lion King and the ever-so-popular tales of Disney Princesses like Cinderella, Snow White and the Seven Dwarfs, Sleeping Beauty and more.
 
"Disney fans who prefer international content revolving around fun, music and adventure are in for a special treat with popular hits like Hannah Montana to blockbuster original movies like Descendants and more. 
 
"JioCinema offers original series like Mickey Mouse and the Roadster Racers along with the recently released DuckTales and local animation stories of Gaju Bhai and Simple Samosa for those young at heart.
 
"For fans who enjoy larger-than-life action, there’s Marvel’s mightiest Super Heroes who bring in their super powers with movies like Iron Man, Captain America: The First Avenger, Thor along with animated series such as Marvel’s Guardians of the Galaxy, Marvel’s Avengers Assemble and more.
 
"JioCinema is also playing host to 50+ movies that have been nominated for Academy Awards over the last 90 years. Animation delights like Toy Story, Wall-E, Up and more have been included to bring the joy of world-class films to Indian audiences.
 
"The best of films from the Star Wars Universe such as Star Wars: Return of The Jedi, Star Wars: The Empire Strikes Back etc. are also available for fans of the Galaxy Far, Far Away," the release said.
 
JioCinema is an on-demand video streaming platform with more than 1 lakh hours of content, including movies, television shows, music videos in languages such as Hindi, English, Tamil, Kannada, Marathi, Telugu, Bengali, Gujarati, Bhojpuri, Malayalam and Punjabi.
 
Disney content is available through an exclusive Disney-Jio section on JioCinema’s welcome page. To access Disney content, existing users of Jio, will need to download the JioCinema app and perform a one-time activity of sharing a customizable message with their friends on Facebook, Twitter or Whatsapp. New users will need to buy a Jio SIM and follow the same process to gain this access, the release added.
 
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Sensex opens 100 points higher

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Key Indian equity indices opened higher on Friday tracking its Asian peers and owing to the strong gains in the financial stocks.
 
All the sectors on BSE and NSE edged up led by financial and consumer durable stocks.
 
The S&P BSE Sensex opened at 35,911.99 from its previous close of 35,807.28 on Thursday.
 
At 9.24 a.m., the Sensex traded 239.37 points or 0.67 per cent higher at 36,046.65. 
 
The Nifty 50 of the National Stock Exchange (NSE) opened at 10,820.95 after closing at 10,779.80 on Thursday.
 
The Nifty traded at 10,839.10 during the morning trade session, up 59.30 points, and 0.55 per cent. 
 
IANS

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Five elders killed in Mumbai high-rise blaze

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At least five senior citizens were killed and two more, including one fireman, injured in a major fire that engulfed the top floors of a residential building here on Thursday, officials said.
 
The fire broke out on the 10th floor of the 16-storied Sangam building in Tilak Nagar suburb of northeast Mumbai and quickly spread upwards, trapping many of the residents there.
 
Of the seven casualties rushed to the Rajawadi Hospital in Ghatkopar, five were pronounced dead.
 
The victims have been identified as Sunita Joshi (72), Bhalchandra Joshi (71), Suman Shrinivas Joshi (83), Sarala Suresh Gangar (52) and Lakshmiben Premji Gangar (83).
 
A senior male citizen, Shrinivas Joshi, 86, along with fireman Chhagan Singh, 28, have been admitted and being treated for suffocation.
 
IANS

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Three elders die in Mumbai high-rise blaze

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At least three senior citizens were killed and one more injured in a major fire that engulfed the top floors of a residential building, here on Thursday, officials said.
 
The fire broke out on the 10th floor of the 16-storied Sangam building and quickly spread upwards, trapping many of the residents there, in Tilak Nagar suburb of northeast Mumbai.
 
At least five fire tenders were rushed to battle the fire, around 8 pm, and rescue operations are continuing, according to BMC Disaster Control.
 
Of the four casualties rushed to the Rajawadi Hospital in Ghatkopar, three were pronounced dead.
 
They are: Sunita Joshi (72), Bhalchandra Joshi (71) and Suman Shrinivas Joshi (83).
 
A senior male citizen, Shrinivas Joshi, 86 yrs, has been admitted and is being treated for suffocation.
 
IANS
 

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Global rebound, FII inflows lift equity market

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A global market rebound, along with healthy inflows of foreign funds and derivative expiry of December series, lifted the key Indian equity indices on Thursday with the barometer Sensex gaining more than 0.40 per cent.
 
However, a weak rupee and an uptick in oil prices as well as a minor bout of profit booking capped the gains.
 
The BSE Sensex settled 157.34 points or 0.44 per cent higher at 35,807.28 points after touching an intra-day high of 36,041.24 and a low of 35,781.95.
 
The NSE Nifty50 gained 49.95 points or 0.47 per cent to finish at 10,779.80.
 
In the past few days, investor sentiments were low on concerns that US President Donald Trump could fire Federal Reserve Chairman Jerome Powell. However, Trump's key economic adviser Kevin Hassett's reassurances on Wednesday has put the issue to rest.
 
The speculation came after the US central bank hiked its short-term interest rate.
 
"Overseas, most shares in Europe and Asia traded on a strong clip today (Thursday) after US stocks saw their best performance in almost a decade on Wednesday. In the US, the Dow logged a 1,000-point gain as equities roared back from oversold conditions," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
 
"Shoppers delivered the strongest holiday sales increase for US retailers in six years, according to Mastercard Spending Pulse, which tracks online and in-store spending with all forms of payment."
 
According to Vinod Nair, Head of Research, Geojit Financial Services: "On the expiry day, market opened with a gap-up, led by positive closing in the global market."
 
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"Global sentiment lifted as tension eased between White House and central bank. However, strengthening dollar and uptick in oil prices acted as key resistance, leading to minor profit booking."
 
On Thursday, the Brent Crude index remained highly volatile as it registered a steep rise to $53.50 per barrel after it fell below the $50 per barrel mark on Wednesday. 
 
In terms of currency, the Indian rupee lost some ground against the US dollar at 70.35 from its previous close of 70.07.
 
"Technically, with the Nifty surging higher, the short-term trend for the Nifty remains positive. Further upsides are likely once the immediate resistances of 10,849 are taken out," said Deepak Jasani, HDFC Securities' Retail Research Head.
 
"Crucial supports to watch for any weakness are at 10,711."
 
Provisional figures from the stock exchanges showed that foreign institutional investors (FIIs) bought shares worth Rs 1,731.91 crore. Domestic institutional investors (DIIs) sold Rs 663-crore stocks.
 
Top gainers on the Sensex were led by Reliance Industries, which ended 2.10 per cent higher, while IT major Infosys and energy stocks -- NTPC and ONGC -- gained in the range of 1 to 2 per cent. 
 
Also, FMCG major Hindustan Uniliver edged up 1 per cent.
 
In contrast, only Tata Motors (DVR) lost over 2 per cent, while other top losers Hero Moto Corp, Bharti Airtel, Tata Motors, Tata Steel declined in the range of 1 to 2 per cent.
 

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Sensex ends 157 points higher on global rebound

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The Indian stock market ended higher on Thursday, tracking a US-led global market rebound.
 
IT stocks gained 1.37 per cent and was accompanied by energy stocks. However, banking stocks ended lower.
 
The S&P BSE Sensex settled 157.34 points or 0.44 per cent higher at 35,807.28 after touching an intra-day high of 36,041.24 and a low of 35,781.95.
 
The NSE's Nifty50 gained 49.95 points or 0.47 per cent to finish at 10,779.80.
 
In the past few days, investor sentiments were low on concerns that US President Donald Trump would try to fire Federal Reserve Chairman Jerome Powell. Trump's key economic adviser Kevin Hassett's reassurances on Wednesday put the issue to rest.
 
According to reports, the US president was unhappy post the US central bank hiking short-term interest rate. 
 
IANS

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Sensex up 220 points on recovery in global markets

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The Sensex surged over 200 points during the afternoon trade session on Thursday, following a strong rebound in the US markets.
 
IT stocks gained 1.87 per cent while the oil and gas and energy stocks also edged higher on the BSE.
 
At 1.24 p.m., S&P BSE Sensex traded 221.26 points or 0.62 per cent higher at 35,871.20 after touching a high of 36,041.24 and a low of 35,797.26. 
 
The Nifty traded 66.75 points or 0.62 per cent higher at 10,796.60.
 
In the past days, investor sentiments were low on concerns that US President Donald Trump would attempt to fire Federal Reserve Chairman Jerome Powell. Key economic adviser Kevin Hassett's reassurances on Wednesday put this to rest.
 
According to reports, the US president was unhappy post the US central bank hiking the short-term interest rate.
 
IANS
 

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Key Indian equity market indices open in green

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Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher ahead of derivatives expiry.
 
The Sensitive Index (Sensex) of the BSE, which had closed at 35,649.94 points on Wednesday, opened higher at 36,002.11 points.
 
Minutes into trading, it was quoting at 35,952.72 points, up by 302.78 points, or 0.85 per cent.
 
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,729.85 points on Wednesday, was quoting at 10,816.65 points, up by 86.80 points or 0.81 per cent.
 
Value buying on the back of attractive valuations along with short-covering ahead of derivatives expiry and low crude oil prices had buoyed the major domestic equity indices on Wednesday.
 
The Sensex was up 179.79 points or 0.51 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 35,711.26 points and a low of 35,010.82 points. The Nifty, too was up by 66.35 points or 0.62 per cent.
 
On Thursday, Asian indices were mostly showing a positive trend. Japan's Nikkei 225 was quoting in green, up by 3.39 per cent, while Hang Seng was up by 0.57 per cent, South Korea's Kospi was up by 0.14 per cent. China's Shanghai Composite index was trading in green, up by 0.54 per cent.
 
Overnight, Nasdaq closed in green, up by 5.84 per cent.
 
IANS

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Anand Rathi Wealth Services withdraws IPO proposal

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Anand Rathi Wealth Services has decided to withdraw its proposed Initial Public Offering (IPO).
 
Accordingly, the company has made an application for the withdrawal to the Securities and Exchange Board of India (SEBI) through its Book Running Lead Managers (BRLMs).
 
"The company filed its draft red herring prospectus (DRHP) towards the end of September when the markets were doing well. However, with the IPO markets entering a wait and watch mode, the company has decided to explore IPO at a later stage," the firm said in a statement on Wednesday.
 
IANS
 
 
 
 

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Bimal Jalan to head Expert Committee on RBI's Economic Capital Framework

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The Reserve Bank of India (RBI) today constituted an Expert Committee chaired by former RBI Governor Bimal Jalan to review the extant Economic Capital Framework of the central bank.
 
The committee has been set up in consultation with the Government of India in pursuance of the decision taken by the Central Board of the RBI at its meeting here on November 19.
 
Other members of the committee are: Dr. Rakesh Mohan, former Deputy Governor, RBI and former Secretary, Department of Economic Affairs, Ministry of Finance (Vice-Chairman); Mr. Bharat Doshi, Mr. Sudhir Mankad, both Directors, Central Board, RBI; Mr. Subhash Chandra Garg, Secretary, Department of Economic Affairs; and Mr. N.S. Vishwanathan, Deputy Governor, RBI.
 
According to a press release from the RBI, the terms of reference of the Committee are: 
 
1. Keeping in consideration (i) statutory mandate under section 47 of the RBI Act that the profits of the RBI shall be transferred to the Government, after making provisions ‘which are usually provided by the bankers’, and (ii) public policy mandate of the RBI, including financial stability considerations, the Expert Committee would:
 
review status, need and justification of various provisions, reserves and buffers presently provided for by the RBI; and
 
review global best practices followed by the central banks in making assessment and provisions for risks which central bank balance sheets are subject to;
 
2. To suggest an adequate level of risk provisioning that the RBI needs to maintain;
 
3. To determine whether the RBI is holding provisions, reserves and buffers in surplus / deficit of the required level of such provisions, reserves and buffers;
 
4. To propose a suitable profits distribution policy taking into account all the likely situations of the RBI, including the situations of holding more provisions than required and the RBI holding less provisions than required;
 
5. Any other related matter including treatment of surplus reserves, created out of realised gains, if determined to be held.
 
The Expert Committee will submit its report within a period of 90 days from the date of its first meeting, the release added.
 
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Value buying buoy equity market; Sensex up 180 points

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Value buying on the back of attractive valuations buoyed the major domestic equity indices on Wednesday, with the barometer BSE Sensex gaining 180 points.
 
The volatile trade session closed with the equity market making a strong recovery at the last hour led by the financial sector that ended with 0.88 per cent gains on the BSE, while on the NSE, only the export-oriented Nifty IT and pharma index ended lower.
 
The Sensex settled 179.79 points or 0.51 per cent higher at 35,649.94, after touching an intra-day high of 35,711.26 and a low of 35,010.82.
 
The NSE's Nifty50 gained 66.35 points or 0.62 per cent to finish at 10,729.85.
 
The benchmark Brent Crude prices rose to $50.93 a barrel in the international market. The domestic currency stood stronger at 70.02 per US dollar from its previous close of 70.14.
 
"The oil market is facing a lot of uncertainty and one possibility is that OPEC may go for a further production cut if prices decline," Anuj Gupta, Deputy Vice President - Research, Commodities and Forex, Angel Broking, told IANS.
 
IANS
 

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