Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
India's low passion, very cautious, relationship with Iran of the last 36 years awaits transformation, says Lieutenant General Syed Ata Hasnain (retd). Prime Minister Modi's visit cannot be a negotiating event; it is a symbolic one to strengthen the politico-diplomatic relationship.
It was also suggested that an all-party delegation should visit Kashmir to assess the situation but the government did not make commitments regarding any of their demands.
'Decisions on nuclear power have so far been taken by a small select group, primarily interested in profiteering from their actions, stating 'secrecy' as necessary from the national security point.' 'This argument is false, because we are dealing with the 'civilian' nuclear power sector, which is open even to the IAEA,' says Dr A Gopalakrishnan, former chairman of the Atomic Energy Regulatory Board.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
'J&K continues to have the highest concentration of military personnel anywhere in the world and the alienation of the Kashmiri has increased in the last ten years than ever before.'
The National Innovation Foundation India (NIF), Ahmedabad shared the ideas that shined at the IGNITE 2015.
'It is important to destroy, to undermine, to debunk the narrative of ISIS,' Olivier Roy -- one of the world's leading experts on radical Islam -- tells Rediff.com's Vaihayasi Pande Daniel in an exclusive interview.
What is Change really like in Bihar? Once seen as India's basket-case, what is its turnaround story like?
Sensex closed the day 416 points higher.
Dr Preeti Adil Chandrakar and her engineer brother Praveen Adil travel in a mobile dentist lab to reach unusual patients.
With fresh enrollments crossing 100,000 mark, the total number of Indian students studying in the US reported a sharp increase this year.
Eight states and Union Territories have Muslim share of population in excess of national average of 13 per cent. Mayank Mishra report
'What Modisaab will accomplish by tampering with the treaty is providing ammunition to ultra-nationalist right wing elements within Pakistan who see India as an existential threat.'
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
Calculated or otherwise, if Azhagiri's firing of the first salvo after Karunanidhi's death does not create some space for him to politico-electorally exploit at a later date, there may not be any space left for him at all, says N Sathiya Moorthy.
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723.
'The finance minister and the government have met the immediate challenge. The wine this time is new and also in a new bottle, which, though not full, is less than half empty.'
At Sabarmati Ashram that very hot summer evening, some had come to see and feel the place where Bapu lived. Some had come to be alone on the lawns after a disappointing Class 12 result...
'If Modi sincerely thinks that Dalits are also Hindus then spread this message to the entire nation through programmes like Mann Ki Baat.' 'We would love to listen to the PM tell the nation to look upon us as fellow Indians and human beings.'
It will now take at least two more years to get a clarity on the priorities and policies of the leadership of the new state of Telangana.
'If chutzpah nationalists brought the Babri Masjid down, chutzpah secularists did precious little to stop it from being torn down.' 'If chutzpah nationalists ensured carnage in Gujarat, chutzpah secularists allowed Muzaffarnagar to become their next hunting ground.' 'Chutzpah secularists readily banned SIMI, but dragged their feet when it came to banning the Bajrang Dal.'
The AgustaWestland issue was fiercely debated in the Rajya Sabha on Wednesday with members of the Bharatiya Janata Party and Congress blaming each other.
Markets end higher ahead of Fed outcome, China stimulus
'I can tell you, Mr Chairman, from personal experience that there is nothing sadder than witnessing a close one, a loved one with mental illness at close quarters.' 'I have lived with a victim of mental illness. Like many in that condition, very often such people are in a state of denial.'
The 30-share Sensex ended down 35 points at 26,349 and the 50-share Nifty ended down 20 points at 7,864.
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The 30-share Sensex lost 22 points to close at 27,090 and the 50-share Nifty gained 7 points to end at 8,121.
With Narendra Modi about to make his first Independence Day speech, there is a buzz in Delhi that Modi will make some big announcements to signal major reforms and directional shifts. But we have to wait and see if it happens, says Mohan Guruswamy.
As the nation heads toward the general election, the Congress fortunes have most likely dipped below the point of no return. The Modi-BJP juggernaut rolls along despite some hiccups. And the meteor that rose in the form of the AAP and its leader Arvind Kejriwal seems to be disintegrating, says Shreekant Sambrani.
'Do you know there is a 500 page report prepared by an inquiry committee headed by myself? When I placed the report in Parliament, have you heard any single Opposition leader give a notice for discussion? Why are they not demanding a discussion in Parliament on the report? They could have established that there was a scam. Today, a Parliament Committee report is as good as a Parliament report and this report says the 2G scam is no scam. Our government is suffering because of the media hype on these scams,' Congress MP P C Chacko tells Rediff.com's Shobha Warrier.
'Only the smoke is coming out now. Let us prevent the lava from coming out by taking proper measures.' 'I have told every leader that you cannot have a stable government without winning the confidence of the scheduled castes, scheduled tribes and the most backward castes.' 'Leaders feel that by giving a sop here and there and by symbolic actions, they can win votes. That's all they want. Votes.'
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
The perception that 'winnability' is based on gender is very strong, even though, if you break up the electoral success rate by sexes, the women who do win elections are proportionally far more successful than the men who win, given the huge number of men they have to beat.
'Will 'Make in India' be able to harness the demographic dividend so it does not become a disaster?' 'Will 'Digital India' live up to the lofty promises the government and private sector made as part of its recent launch?'
Why is the BJP playing 'competitive politics' where there is scope or room for none? The release of 5 Indian fishermen on death row in Sri Lanka was a victory for India's quiet diplomacy of long years in the matter -- and not for loud politics by parties in the country.
'I believe one of the most critical issues is the common threat we face from Islamist radicals and the continuing and unimpaired financing of Al Qaeda, the 'D' Company, the Haqqani network, the LeT and the Jaish-e-Muhammed.'
These homes offer services that help lead a smooth retired life.
What is Change really like in Bihar? Once seen as India's basket-case, what is its turnaround story like? Archana Masih reports from India's other most talked about state.
A summary of the day's play in the Ranji Trophy matches played across the country.
'I have never seen anybody disliked more as prime minister than Modi.' 'What is interesting is in his prime ministership, no matter whatever happens in any corner of India, Modi is blamed for it.' 'Modi has not suspended any Constitutional liberties. No Opposition leader has been put in jail... Modi is not Hitler.'
