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Erasing gains equity indices end flat; banking stocks fall

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Mumbai, July 13: Shedding all the gains made early in the day, the key Indian equity indices ended flat on Friday weighed down by heavy selling in banking, capital goods and healthcare stocks.

Although the market had opened on a positive note continuing the Thursday’s bull run, with the BSE Sensex touching a fresh all-time high of 36,740 points in the morning session, the indices could not hold on to the gains.

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 11,021.65 points — lower by 1.55 points or 0.01 per cent — from its previous close of 11,023.20 points.

The barometer 30-scrip Sensex on the BSE, which had opened at 36,635.14 points, closed at 36,541.63 points (3.30 p.m.) — down 6.78 points or 0.02 per cent — from its previous close of 36,548.412 points.

As mentioned, Sensex touched a record intra-day high of 36,740.07 points and a low of 36,501.61 points. The BSE market breadth was bearish with 1,824 declines and 813 advances.

The top gainers on the Sensex were Infosys, Bajaj Auto, Reliance Industries, Coal India and Asian Paints whereas ITC, Axis Bank, ONGC, State Bank of India (SBI) and ICICI Bank were the top losers.

On the NSE, Titan, BPCL and Bajaj Finance were the highest gainers while Zee Entertainment, UPL and Bharti Infratel lost the most.

IANS

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ICPA seeks ‘one rank one pay’ for AI pilots

According to ICPA, from October 2017, the Air India management had started paying a section of wide-body pilots an ad-hoc amount at par with the new proposal which is yet to be approved by the ministry.

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New Delhi, Oct 17 ; The Indian Commercial Pilots’ Association (ICPA) on Tuesday sought ‘one rank one pay’ for all the pilots of the national passenger carrier Air India.

In a letter to Civil Aviation Minister Suresh Prabhu, ICPA urged the ministry to address the pilots’ pay parity issue which is the legacy of Air India-Indian Airlines merger that took place more than a decade ago.

According to ICPA, from October 2017, the Air India management had started paying a section of wide-body pilots an ad-hoc amount at par with the new proposal which is yet to be approved by the ministry.

The letter alleges that half of the flying allowance paid to wide-body pilots is still being paid in fixed US dollar exchange rate of Rs 45.50, while the present US dollar exchange rate has reached an all time high of Rs 74.

As per the letter, while majority of Air India pilots are paid international layover subsistence allowance on actual international night stops ($200), a section of wide body pilots continue to receive a fixed monthly international layover allowance irrespective of number of international night stops undertaken.

“We fail to understand as to why the top management has turned a blind eye to this issue which is bleeding the national carrier of high value foreign exchange,” the October 16 letter said.

“In spite of being in the know of the US dollars being paid to these pilots at an exchange rate of INR 45.50, the Director (Operations) has taken no initiative to correct the wrong for reasons best known to him,” it said.

IANS

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Sensex opens 140 points up, Nifty at 11,550

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Mumbai, Oct 16: The 30-scrip S&P BSE Sensex on Tuesday opened in the positive territory tracking similar cues from its Asian peers.

Healthy buying was witnessed in auto, healthcare and capital goods counters.

The Sensex of the BSE opened at 35,004.33 points from its previous close at 34,865.10 points on Monday.

At 9.20 a.m., the Sensex traded at 35,006.10 points up by 141 points or 0.40 per cent.

The broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 10,550.15 points after closing at 10,512.50 points.

The Nifty traded at 10,545.00 points during the morning trade session, up 32.50 points and 0.31 per cent.

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NDTV, Airtel launch live channel

This partnership with Airtel allows us to use to dream potential the possibilities of digital and telecom technology.

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New Delhi, Oct 15 : Media firm NDTV on Monday announced its partnership with telecom service provider Bharti Airtel to launch live channel “NDTV HOP”.

The live channel for smartphones comes in portrait (vertical) mode with exclusive content for Airtel TV users.

“NDTV is valued and recognised for creating and launching terrific new content in the online space,” Suparna Singh, Group CEO, NDTV, said in a statement.

“This partnership with Airtel allows us to use to dream potential the possibilities of digital and telecom technology,” Singh added.

NDTV HOP would offer instant access to digital content covering the latest from news, Bollywood, auto, technology, pop-Culture, online deals, fashion and much more.

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