Former India captain Sourav Ganguly will take over as the 39th BCCI president on Wednesday, but he will have a curtailed tenure of around nine months as he would need to demit office by the end of July, next year as per the provisions of new constitutions, which makes 'Cooling Off' period mandatory after six years in office.
Inundated with frivolous complaints in recent times, the BCCI's Ombudsman and Ethics Officer D K Jain has devised a mechanism to ensure that only genuine complaints are entertained.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The upcoming corporate results season and the approaching Union Budget kept investors on their toes
Newly-appointed India coach Anil Kumble dismissed reports of conflict of interest between his new job and his involvement in a sports firm as well as heading the International Cricket Council's Cricket Committee.
Investors remained cautious in the face of the expiry of November series contracts in the derivatives segment, which also dampened sentiment.
A further drop in long distance call rates is on the anvil with the Department of Telecom deciding to remove a major glitch in the introduction of Carrier Access Code.
Barring oil and gas, all BSE sectoral indices finished in the green.
The new telecom policy draft has paved the way for stoking competition and allowing customers to select their long distance operators by calling for introduction of carrier access code immediately.
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Sun Pharma stole the show in the Sensex pack, spurting 3.91 per cent, followed by M&M at 2.87 per cent.
NSE Nifty, after shuttling between 10,809.60 and 10,725.90, finished 30.95 points, or 0.29 per cent lower at 10,741.10.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The 36-year-old Gambhir, who had captained Delhi in the Ranji Trophy for the past four seasons, expressed his desire to continue as a player.
Virender Sehwag said he missed out on becoming the Indian cricket team's chief coach for the lack of patronage from the powers that be in the Board of Control for Cricket in India and will not apply for the position again.
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
The decision will embolden populists across the continent.
Explaining the decision to appoint Anil Kumble despite his lack of experience as an international coach, BCCI president Anurag Thakur said the former spinner's record itself is a testimony to his worthiness for the job.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
Former India off-spinner Erapalli Prasanna on Friday took a dig at Virat Kohli and said if the current skipper feels he is the boss of Indian cricket then the team can do without a coach.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
In a bid to enable subscribers to choose their own long distance operator, Trai now plans to start work on carrier access code.
The market breadth, indicating the overall health of the market, turned negative from positive
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
This is the highest closing for both the indices since May 15.
In the Sensex pack, M&M was the biggest loser, tumbling by 6.66 per cent, followed by TCS dropping 4.14 per cent.
