14 July 2011

Blasts in commercial hub


Terror struck Mumbai once again on Wednesday evening. Home Minister P Chidambaram said 17 people were killed and 131 others injured after bombs blast at three crowded locations in the heart of the city.
"Out of the 131 people admitted to 13 hospitals, 26 were discharged, 82 were stable and 23 were seriously injured, some are still critical," Chidambaram said in a press conference in Mumbai on Thursday. He said the the Mumbai blasts cannot be interpreted as attack on the market. "India will continue to grow & prosper.. this cannot be seen as attack on India's commercial market," he added.
The first and deadliest of the blasts was at 6:45 pm at Zaveri Bazar diamond market, followed by another one at 6:55 pm at Opera House - both in crowded south Mumbai. The third one was at 7.05 pm in Dadar, central Mumbai.
The three blasts leave behind a bloody trail of dead and injured. While hundreds of injured were being rushed to hospital, the toll kept mounting into the wee hours.
The injured have been admitted to several hospitals including the JJ Hospital, GT Hospital, KEM Hospital and St George's Hospital.
"Our primary concern at this stage is to help the injured," said Maharashtra Chief Minister Prithviraj Chavan after the blast.
Improvised Explosive Devices (IED) seem to have been used. One IED was beleived to be placed in a Maruti Esteem, anothe on a motor bike and the third one at a bus stop. Timer devices could have been used.
"IEDs were placed. Bomb detection squad members are doing there job. The investigation is done by anti-terrorists squad in coordination with the Mumbai Police," said Mumbai Police Commissioner Arup Patnaik.
The serial terror attack came two days after the fifth anniversary of the serial train blasts that shook Mumbai in 2006 killing at least 186 people. Incidentally, two suspected Indian Mujahideen men Mohammed Mobin Abdul Shakoor Khan alias Irfan (32) and his cousin Ayub Raja Amin Shaikh (28), wanted by the Gujarat Police, were arrested two days ago by the Mumbai Police.
In Delhi, all that the Centre was willing to concede is, it was a terrorist attack.
"The blasts took place at around 6.45 pm within minutes of each other. Therefore we inform that it was a coordinated attack by terrorists," said Union Home Minister P Chidambaram.
Security alerts have been issued in all major cities including New Delhi and Kolkata after the blasts in Mumbai.
The police have meanwhile traced the owner of the car used in the Zaveri Bazar blast to Vashi and was questioned. Now investigators will take over. But the citizens of Mumbai are already asking why the maximum city is targeted again and why is not one able to stop this cycle of terror?

Sensex on profit booking


The benchmark Sensex retreated on Thursday morning led by profit booking in oil & gas, financial, auto and capital goods companies' shares. The market had gained 184 points yesterday on short covering. Asian markets too were trading lower.
Rajesh Jain, Independent Market Strategist is relatively bearish about the market mood. “It has not been a convincing pullback (yesterday's) because the market has failed to attract secular buyers and this is just an FII-led rally where offshore entities tend to hedge cash markets with reverse trades in F&O space,” Jain warns.
M&M, Maruti Suzuki, Infosys, HCL Tech, IDFC, Kotak Mahindra Bank, SBI, Reliance Capital, DLF, GAIL, Reliance Infrastructure, Reliance Power, BHEL, L&T and BHEL were putting pressure on the market.
However, TCS and Bajaj Auto gained more than half a percent ahead of results. Bharti Airtel too on buyers' radar.
At 9:19 hours IST, the 30-share BSE Sensex was trading at 18,512, down 83 points and the 50-share NSE Nifty fell 25 points to 5,561.

13 July 2011

ONGC FPO unlikely to hit market before mid-August


The much talked about Rs 11,500 crore share sale of state-run Oil and Natural Gas Corp (ONGC) has been deferred again and is unlikely to hit the market before mid-August.
The public offer in which government plans to sell 5% (427.77 million shares) was originally planned for 2010-11 fiscal but was deferred to April 5 as the company did not have adequate number of independent directors on its board to meet the market regulator Sebi's listing norm.
It was then scheduled for July but it has again been deferred, a senior government official said here.

Sensex snaps 3-day losing streak, ends 184 pts higher


Indian equity benchmarks saw nice pull back on Wednesday and broke three-day losing streak, with rising 1%. Recovery was majorly led by short covering in banking, metal, telecom, auto and select infrastructure companies' shares. Oil & gas stocks too supported the market.
The 50-share NSE Nifty tried to touch the 5,600-mark in the late trade, before closing up 59 points at 5,585 with support from 44 stocks.

BANK Nifty

BANK Nifty on 13 Jul at 10:05 am

Company NameHighLowLast Price%ChgValue (Rs. cr.)Volume
SBI2,434.002,412.002,429.701.2342.79176,106
ICICI Bank1,059.001,048.001,057.401.0330.40287,533
Axis Bank1,282.701,269.001,282.001.2327.03210,841
HDFC Bank2,505.002,478.052,502.200.9112.1148,402
Bank of India408.65401.00406.850.414.72116,060
Canara Bank519.00512.20515.501.093.4667,039
Kotak Mahindra479.90474.75479.250.742.7958,282
IDBI Bank135.00133.50134.550.642.67198,451
Oriental Bank333.55330.40332.000.791.2637,841
PNB1,132.001,122.501,128.600.841.2310,861
Bank of Baroda888.50873.00882.601.221.1412,916
Union Bank299.90298.00299.500.940.9832,772
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