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Bulls ride on election outcome, Nifty closes above 9,100-mark

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Mumbai, March 18, 2017: Riding on the outcome of the just-concluded assembly elections, key Indian equity indices zoomed to new 52-week highs and crossed their psychologically significant levels. The benchmark NSE Nifty hit a record intra-day high and closed above the 9,100-mark for the first time during the truncated week ended Friday.

On Friday, the wider 51-scrip Nifty of the National Stock Exchange (NSE) touched a new record intra-day high of 9,218.40 points. Similarly, the Sensex touched a new 52 week-high of 29,824.62 points.

The bull run continued for the second consecutive week as the outcome of the assembly elections in five states and positive global cues enhanced the risk-taking appetite of investors.

The positivity in the equity markets was also favoured by a strong rupee and substantial inflows of foreign funds.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE surged by 702.76 points or 2.43 per cent to close at 29,648.99 points, while the NSE Nifty was up by 225.5 points or 2.52 percent at 9,160.05 points.

“Markets zoomed higher this week to touch new life highs. The Nifty closed above the 9,100 level for the first time ever,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

Market observers pointed out that the BJP victory in Uttar Pradesh and Uttarakhand assemblies elevated the mood of the Indian equity markets.

“The election results will provide the much-needed boost to the ruling-BJP to accelerate the pace of reforms, including the roll-out of the crucial Goods and Services Tax (GST), slated to be implemented from July 1, 2017,” said Vijay Singhania, founder and Director of brokerage firm Trade Smart Online.

D.K. Aggarwal, Chairman and Managing Director, SMC Investments and Advisors, told IANS: “In the week gone by, the global markets moved higher and higher as confidence continued to return to the markets, and also after the (US) Federal Reserve indicated it was unlikely to speed up monetary tightening.”

On Wednesday, the benchmark Indian indices well-absorbed the 25 basis points (bps) rate hike by the US Federal Reserve for the second time in three months and the third time since the 2008 global financial crisis.

“Moreover, the industrial activity has shown some improvement in January, after the contraction in December, which also indicated that the negative effects of demonetisation are gradually waning,” Aggarwal said.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the Indian equity markets traded with firm sentiments tracking bearish USD/INR futures prices and continuous buying support.

“Continuous funds flow witnessed by FIIs (foreign institutional investors) in this week indicated continuation of the uptrend in the Indian equity markets,” Desai pointed out.

The Indian rupee strengthened by 1.15 paise to 65.46 against a US dollar from last week’s close of 66.61.

In terms of investments, provisional figures from the stock exchanges showed that FIIs purchased stocks worth Rs 8,121.51 crore during the week, while domestic institutional investors (DIIs) divested scrip worth Rs 2,192.86 crore.

Figures from the National Securities Depository (NSDL) disclosed that foreign portfolio investors (FPIs) bought equities worth Rs 7,495.85 crore, or $1.13 billion, during March 14-17.

Commenting on sector-specific movement, Rakesh Tarway, Head of Research, Reliance Securities, said: “FMCG gained by 5.1 per cent, high beta sectors like realty and metals also reversed its last week losses to gain by 4.9 per cent and 3.1 per cent respectively, while other sectors gained by around 2.5 per cent.”

The top weekly Sensex gainers were: Adani Ports (up 7.93 per cent at Rs 324.60), Tata Steel (up 6.93 per cent at Rs 502.05), ITC (up 6.19 per cent at Rs 281.20), HDFC (up 5.74 per cent at Rs 1,450) and Larsen and Toubro (L&T) (up 4.99 per cent at Rs 1,550.70).

The losers were: Coal India (down 8.94 per cent at Rs 289.75),Bharti Airtel (down 3.77 per cent at Rs 346.80), Gail (down 1.23 per cent at Rs 374.75), Power Grid (down 0.39 per cent at Rs 193.50), and Mahindra and Mahindra (M&M) (down 0.07 per cent at Rs 1,303).

By Porisma P. Gogoi

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Black Friday Deals: Realme to bring offers on Realme X3 Superzoom, X50 Pro, Buds Air Neo and more

The Black Friday sale will take place on Realme’s online store, Flipkart and Amazon.

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Realme X2 Pro

Over the last few years, online and offline retailers have been offering their Black Friday deals for almost an entire week ahead of Thanksgiving, and some of these deals and offers last well after the Cyber Monday sale.

Black Friday Sale is here!!

After Xiaomi, handset maker Realme on Thursday announced a Black Friday Sale that would arrive with several offers and discounts on a range of its products. The Black Friday Sale would be live for 24 hours and would start November 27, 12:00 AM. The sale would see massive discounts on a range of Realme smartphones including Realme 6i, Realme 6, Realme X3 Superzoom and X50 Pro, and various AIoT products such as Realme Buds Classic, Realme Smart Watch, Realme Buds Air Neo and Realme Smart Cam 360°.

“Realme would also be hosting the ‘Realme Days’ sale offering similar discounts on its own website Realme.com, Flipkart and Amazon.in,” the company said in a statement.

The Black Friday sale will take place on Realme’s online store, Flipkart and Amazon. In addition to the discounts, SBI credit cardholders can avail of 5% cashback on EMI transactions.

  • Realme is offering discounts from Rs 1,000 up to Rs 7,000 for its Black Friday sale. Realme X50 Pro has received the biggest discount of Rs 7,000 bringing its price down to Rs 34,999 from Rs 41,999. Realme X50 Pro with 12GB RAM and 256GB storage also gets a discount making its offer price Rs 40,999.
  • Realme X3 SuperZoom will be available with a Rs 4,000 discount on all three variants. Realme X3 has also received a Rs 3,000 discount on both its variants. Realme C3, Realme 6, Realme 6i, and Narzo 20 Pro can be purchased with a discount of Rs 1,000.
  • In the AIoT portfolio, Realme Buds Air Neo would be available at a discounted price of Rs 1999, along with the Realme Buds Wireless Pro for Rs 3199 and Realme Buds Air Pro at a special price of Rs 4299. These offers would be applicable on all purchases made through Realme’s official website Realme.com.
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Amazon Quiz Answers Today, November 25, 2020: Answer and Win Rs 5000 Pay Balance

Amazon quiz Answers Today, November 25, 2020: The Amazon Quiz for November 25, 2020, is live and today you have the chance to Win Rs 5000 Pay Balance.

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Amazon

Amazon quiz Answers Today, November 25, 2020: The Amazon Quiz for November 25, 2020, is live and today you have the chance to Win Rs 5000 Pay Balance. The trivia quiz gives a chance to users across the country to win exciting gifts every day by answering a set of simple questions.

After giving the right answers to the questions users can win mobile phones, other gadgets, and Amazon Pay Balance. E-commerce giant Amazon never disappoints its users and today’s gift is special for all the online shopping lovers.

Today’s Amazon Quiz Information

Today’s Amazon Quiz Prize: Win Rs 5000 Pay Balance
Amazon Quiz Date: November 25, 2020:
Amazon Quiz Time: 8 am–12 pm
Winners List Declaration Date: To be announced

Answers for today’s Amazon quiz contest- November 25, 2020

Q1- Char-chaporis are shifting riverine islands of the Brahmaputra located in which Indian state?
Ans- Assam
Q2- In 2020, who became the first bowler to pick up a wicket off the first ball in an IPL final?
Ans- Trent Boult
Q3- Alu, Bittu and Sattu are characters in which recent Rajkummar Rao movie?
Ans- Ludo
Q4- These objects are used to do what kind of activity?
Ans- Surfing
Q5- In which city also known as the ‘Blue City’ is this picture taken?
Ans- Jodhpur

How to Play Amazon Quiz Contest Daily?

1. Download the Amazon India App from Google Play Stores or Android App
2. Sign up or log in to your Amazon account
3. Once login you can check the homepage banner of the App click on Amazon Quiz for today.
4. Start playing the Amazon quiz contest.

Where to find the latest answers for Amazon Quiz?

You can find all the right Answers for Amazon Quiz here. With Amazon Quiz you can win various exciting prizes. Choose the right answers for the Amazon daily quiz and you can be the lucky winner. The Amazon Quiz contest is live at 8:00 AM and it ends at 12:00 PM.

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Congress opposes move to let corporates enter banking sector

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chidambaram

New Delhi: The Congress on Tuesday opposed the proposal to allow corporates and business houses enter the banking sector, contending that this move will leave the depositors at their mercy as it happened in the case of Yes Bank and Laxmi Vilas Bank.

Addressing a press conference, former Finance Minister P. Chidambaram said: “The Congress party condemns the proposal and demands that the government, unequivocally and forthwith, declare that it has no intention of pursuing the proposal.”

“We call upon all the people of India and all political parties and trade unions to join us in resolutely opposing the retrograde idea of allowing corporates and business houses to enter the banking sector and set up banks,” he added.

The Congress alleged that the proposal, ostensibly based on a report of an RBI Internal Working Group, has the fingerprints of the Modi government written all over it.

This proposal, along with some other recommendations, is part of a deeper game plan to control the banking industry, it said, claiming that the proposal, if implemented, will completely reverse the enormous gains made in the last 50 years of retrieving the banking sector from the clutches of business houses.

Noting that all over the world, especially in developed economies, three principles govern banking — broad-based shareholding reflecting shareholder democracy, strict separation of ownership and management with ownership with shareholders and management in professional hands, and prohibition of connected lending, Chidambaram said that all three will be thrown out of the window if corporates and business houses are allowed to set up banks.

“Bank funds belong to the depositors who are the people of this country. As a proportion of total deposits, the equity of a bank is minuscule. The total deposits in the banking industry is of the order of Rs 140 lakh crore… If business houses are allowed to own banks, they will, with a small equity investment, control very large amounts of the nation’s financial resources. This must not happen and the Congress will strive its utmost to ensure that this will not happen,” Chidambaram said.

He said that it “is shocking that such an idea should have been presented to the people as though it has the imprimatur of experts and the endorsement of the RBI”.

“Just as the RBI was the cat’s paw of the government in the saga of demonetisation, the RBI is being used by the government to push through its dangerous agenda,” he said.

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