Sensex Soars 250 Points on RBI Rate Cut Hopes

first_imgThe S&P BSE Sensex rose nearly 250 points on Monday after a slew of positive data raised expectations over interest rate cut by the Reserve Bank of India (RBI) as early as this month.The Sensex ended at 25,856 points, up 246 points, or 0.96%, while the 50-share Nifty gained 82.95 points, or 1.06%, to close at 7,872 points.”Nifty is poised to make a dash towards the 8100 mark as the index has breached the neckline of an inverted bullish head and shoulder pattern indicating that the markets would surge higher,” said Amar Ambani, Head of Research, IIFL.While 29 out of 30 Sensex companies ended in green, metal index was the top gainer among sectoral indices.Earlier in the day, official data showed that the wholesale price inflation (WPI) declined further to minus 4.9% in August, reaching the lowest level since 2005. The WPI has been in negative territory for the past ten months.”The WPI rate may not have as much of a bearing on policymaking as the CPI rate, but the fact that it has plummeted again is unlikely to be ignored. This strengthens our view that interest rates will be cut at the RBI’s policy meeting later this month,” said Capital Economics in a note.The RBI’s next bi-monthly monetary policy review is scheduled on 29 September and the bank is widely expected to cut lending rates amid falling inflation rate.”We are maintaining our view that the RBI will cut the repo rate by another 25bp to 7.00% at its next policy meeting on 29th September before the easing cycle concludes,” said Capital Economics.Stock markets are also buoyed by a positive industrial activity data for July released on Friday after trading hours. The Index of Industrial Production (IIP) rose to 4.2%.”RBI will take a considered call on the issue. There is no divergence in perception. The government and RBI are working together. Taking into account the overall factors, RBI will take a considered call,” Economic Affairs Secretary Shaktikanta Das, told The Economic Times.Indian markets shrugged off weakness in equities in other major Asian countries. While China’s Shanghai Composite closed 2.6% lower at 3,114 points, Japan’s Nikkei ended at 17,965, down 299 points.Rate sensitive stocks like banking and real estate rose sharply. Banking stocks Axis Bank, ICICI Bank, HDFC Bank and SBI ended with a gain of 1 to 3%, while realty stocks India Bulls Realty, Sobha Realty and HDIL also ended higher. Metal stocks Vedanta, Hindalco and Tata Steel ended the session gaining 2 to 4%. IT stocks rose in anticipation of interest rate hike by the US Fed this week. Wipro gained nearly 2.5% to close at Rs 570.75. A rate hike by the US Federal Reserve is expected to further strengthen the US dollar, which could result in a revenue increase for Indian IT firms in rupee terms.last_img read more

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Two militants gunned down in encounter in Jammu and Kashmirs Shopian

first_img Kashmir’s most wanted militant and Burhan Wani’s successor Zakir Musa killed in Tral Close IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:02/1:14Loaded: 0%0:02Progress: 0%Stream TypeLIVE-1:12?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading …center_img The operation turned into a gunfight after the militants opened fire at the security forces in the early hours of Tuesday.Two militants were gunned down in an encounter that broke out between security forces and militants in Jammu and Kashmir’s Shopian district, on Tuesday, June 11. The militants belong to Ansar Ghazwatul Hind (AGH) outfit, according to the police.”The slain militants have been identified as Shakir Ahmad of Shopian and Sayar Bhat of Kulgam district. Both of them were affiliated with AGH outfit,” the police reportedly said.The security forces launched a search and cordon operation in Anweera area of Shopian on Monday evening, after receiving a tip-off about militants being present in the area. The operation turned into a gunfight after the militants opened fire at the security forces in the early hours of Tuesday.”When challenged today morning, the hiding militants opened fire, triggering an encounter in which two militants were killed,” police was quoted as saying in an IANS report.Although the firing has stopped, the search operation is still underway.The AGH chief Zakir Musa was killed by security forces in Dadsara village of Pulwama area on May 24 this year. He was a close associate of Burhan Wani who was killed in 2017, was a militant of Hizbul Mujahideen who succeeded Burhan and later headed the Al Qaeda affiliate AGH. He had taken to militancy in 2013.The killing of Zakir Musa was seen as a big success for the security forces in their anti-militancy operations in Kashmir.last_img read more

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Indian cardiologist Devi Shetty coming to see Quader Hanif

first_imgIndian cardiologist Devi ShettyAwami League joint general secretary Mahbubul Alam Hanif on Monday said that renowned Indian cardiologist Devi Shetty will come to Dhaka to see the condition of ailing minister Obaidul Quader, reports UNB.The AL leader came up with the information while talking to reporters after visiting Quader at Bangabandhu Sheikh Mujib Medical University (BSMMU) around 11:00am.Hanif said, ” Qauder’s condition is gradually improving. Now, the condition is somewhat better. I talked to physicians. They are optimistic over his recovery.”The medical board will decide whether the minister will be taken to Singapore. BSMMU vice chancellor Kanak Kanti Barua will brief reporters over the decision at 1:00pm, he said.Obaidul Quader was admitted to the Coronary Care Unit (CCU) of the hospital on Sunday morning following his breathing complications.Later, physicians found three blockages in his coronary artery following an angiogram.last_img read more

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State govt employees jubilant as Mamata announces clearance of DA arrears by

first_imgKolkata: State government employees in the state have reasons to cheer with Chief Minister Mamata Banerjee announcing on Thursday that Dearness Allowance (DA) arrears of all government employees will be cleared by this month. The total DA of the employees will be 125 percent of their basic pay.”The DA arrears will be cleared by this month,” Banerjee said while addressing a public distribution programme at Ilambazar in Birbhum. The Chief Minister has kept her promise that she had made on June 19, 2018, when she had announced 25 percent additional Dearness Allowance (DA) for the state government employees with the merger of 10 percent interim relief. Also Read – Rain batters Kolkata, cripples normal lifeShe had also stated that it will be effective from January 2019 and the total DA of the employees will be 125 percent. It is 90 percent more than what it was till the end of the Left Front period. “We have to pay around Rs 48,000 crore every year to the Centre due to the huge debt burden left upon us by the erstwhile Left Front government, but the Chief Minister has taken up so many projects for the benefit of common people and is continuing to do so,” a senior official of the state government said. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedThe release of the DA will cost Rs 5,000 crore to the state’s exchequer every year. The DA recipients will also include teachers and non-teaching staff of educational institutions and employees of rural and urban local bodies. Sanket Chakraborty, general secretary of the State Steering Committee, congratulated the Chief Minister for providing the benefit. It may be mentioned that the gap between the Centre and Bengal with regards to DA had been 48 percent. Now, with the state government allocating 25 percent more DA, the difference will come down to 23 percent. The organisation of Trinamool Congress state government employees – Rajya Sarkari Karmachari Federation (RSKF), claimed that the state government’s move comes as a New Year gift for the employees. “We want the state government to bring out a fresh notification in this regard to clear any doubts or allegations from other unions,” said Manoj Chakraborty, convener of RSKF. It may be mentioned that Banerjee had addressed a programme of the RSKF in September 2017 at Nazrul Manch, where she had assured that the demand of the state government employees will be looked into with priority.last_img read more

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Gods own flavours

first_imgHow does one define a regional cuisine chef in the capital city of Delhi? In a city inundated with eateries and restaurants – Delhi has panned into a city with the possibility of nearly infinite new flavours and techniques, as well as young first- and second-generation chefs with different perspectives on what deliciousness might entail.In the kingdom of South Indian cuisine, Kerala cuisine has its own cove and there are very few Chefs in Delhi who can give you the authentic Dravidian flavor with ingredients and seasoning and the amalgam of roasted spices. One Chef however holds his own and judging by the tables filled with gaiety at ITC Sheraton’s Dakshin you can be sure Chef Velu is one who can carry you into flashes culinary epiphany. Also Read – Add new books to your shelfYou are shown to your table, in the splendid lamp filled room, and you can begin with a glass of cold coconut water to cool down as the basket of papadums can be enjoyed with four different chutneys-tomatoes, coconut, tamarind tinged and herb flavoured mint. Chutneys which your grandmother may have served you with dosas or idlis in yesteryear — is not a bad way to start. Save your space for a feast with Chef Velu. He begins with a globular lentil fried Kuzhi Panniyaram which can be swiped with the coconut chutney to give you a sensory idea of granular flavours on the tongue. Also Read – Over 2 hours screen time daily will make your kids impulsiveIs the starter something you want to dip in a seafood sojourn? Sure, why not – the presence of Prawn Varathatha and the tamarind ginger chutney read into distinct designs in ingredients. Ever heard of the Fish Pollichatha, a grandmother’s recipe off the backwaters of Kerala? In case you haven’t, it’s tangy, spicy and flaky in all the right ways as you unravel the banana leaf inside which it has been steamed on a pan. The spicy, slightly – roasted fish schools you into the mysteries of the fish recipes. Velu is equally at ease with Syrian Christian, and Moplah recipes as he is with traditional Nair Hindu fare. While you are relishing the fish, Chef sends in a dark chewy, slivers of coconut chunked lamb known as Erachi Olathiya, the piece de resistance of the menu. Robust hints of roasted coriander, chillies and the ingenuous Kerala garam masala tantalize the tongue.Savour slowly – you have to save space for just a spoonful of Kerala par boiled rice with a mélange of prawn curry, a spicy fish curry and roasted spiced chicken curry that goes best with fluffy appams.” We get spices as whole and then create the masalas according to the recipes,” says Chef Velu who has won numerous awards for the ITC chain and wears his pedigree of two decades of fine regional cuisine, with modesty. His balance of spice and the smoothness of the gravies is what makes the curries splendid.What remain in memory are not just the flavour and the experience of authenticity that leaves you in a state of familial reverie, but the perfection of the curries and the seafood succulence can also be read as a statement of food principles: handpicked authentic ingredients, fascinating flavours, careful and experienced execution and a subtle signature of chilly.Does it mean anything in particular when a chef is identified with the most relished dishes in the South Indian repertoire? Chef VeluMurugan comes from the Mudaliar community, and Mudaliar cuisine is a culinary tradition developed by an intrinsically vegetarian community which started out as pioneering agriculturists during the time of the early Cholas. His Pineapple Pachadi, an amalgam of tempered yoghurt and cubed pineapple as well as his seamless pumpkin Elicherry stand testimony to his vegan roots. While Velu specialises in the cuisine of sub-communities of south India such as Nadar, Udipi, and Syrian Christians, his best memory is that of fish curry and Kerala rice relished on a banana leaf in the style of his ancestors.Velu is joyous in his hours in the Dakshin kitchen. He swirls even the desserts – an addapayasam into a delight served in a modest-sized brass bowl. Dakshin, a south Indian cuisine restaurant does that magical thing where it is impossible to tell where the perfection of its service and food ends and the satiety of the experience begin. There are strong, succinct signatures of hard work, research and multiple journeys into Kerala’s waterways and a wood fire burning kitchens with a quaint touch of history. In an age of obsessive fusion in cuisine, authenticity is obviously a relative construct – cuisines change all the time all over the world – but it becomes valuable as kind of a benchmark; a point of reference when you stick to the original. This is the hallmark of the ever smiling Dravidian genius Chef Velu Muruganof Dakshin.last_img read more

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