Sensex snaps 5-day winning streak, rupee turns weak

Indian stocks slumped as much as 1.5 per cent on Thursday as traders booked profits after five days of strong rally sent the BSE Sensex and the broader Nifty up by over 10 per cent.

The rupee also fell after five days of gains, even as the Reserve Bank of India (RBI) likely sold dollars via state-run banks starting at around 63.95 levels to prevent further weakness in the currency. The Sensex closed off the day's low 19,782, down 216 points, whiel the Nifty fell 62 points to end at 5,851. The rupee traded at 63.62 per dollar, down 0.4 per cent from Wednesday's close of 63.38 as of 3.45 p.m..
Caution prevailed ahead of factory output and CPI data, scheduled for release later in the day even as foreign institutional investors remained net buyers of shares, bringing their total to nearly Rs. 5,780 crore over the previous five sessions.

Banking stocks, which have been the main drivers of the rally, came under sharp selling pressure. The Bank Nifty fell 2 per cent, but closed above the key 10,000 levels. Among private banks, IndusInd Bank plunged 5.4 per cent, while Kotak Mahindra Bank declined 2 per cent. ICICI Bank and HDFC Bank slipped around 2 per cent.

Jaiprakash Associates crashed 11.6 per cent after earlier rising as much as 2.1 per cent on profit-taking after announcing a cement unit sale to UltraTech Cement on Wednesday.

Rupee key to markets:

The rupee started higher today and gained as much as 62.92 per dollar, its highest since August 19. However, the partially convertible rupee could not sustain the momentum and closed at 63.50 as against Wednesday's close of 63.38 per dollar.

The rupee has recovered 5.8 per cent over the last five sessions, its longest winning streak in a year, since Raghuram Rajan took over as the central bank chief on September 4 and unveiled a raft of steps including allowing banks to borrow more overseas and offering a concessional swap facility to banks to raise deposits from overseas Indians.

Avinnash Gorakssakar, head (research) at miintdirect.com told NDTV that for now the scare that the rupee may hit 71-72 per dollar might not materialise.

"August trade data has given hopes that exports are picking up. That will help in curtailing the current account deficit and will be positive for the rupee," he added.

Global cues:

Markets are now waiting for the Federal Open Market Committee meets next Tuesday and Wednesday. While the Fed is widely expected to begin scaling back its $85 billion monthly asset-buying programme, last week's disappointing jobs data prompted many to believe the reduction will be more modest than some had previously expected.

No communal politics, UP is not Gujarat: Mulayam Singh Yadav

Agra: Samajwadi Party chief Mulayam Singh Yadav on Thursday rejected Union Civil Aviation Minister Ajit Singh's criticism of his government's handling of communal violence in the state and assured riot victims will get justice. 
"Riot victims didn't get justice in Gujarat but they will in Uttar Pradesh," said Yadav. 

He was responding to RLD chief Ajit Singh's allegation that the riots in Muzaffarnagar had proved that the SP chief was playing communal politics in the state, like Gujarat chief minister Narendra Modi allegedly had in 2002. 
"Ajit Singh is free to say what he wants, people will get justice in UP, " Mulayam said while rejecting a comparison with Gujarat Chief Minister Narendra Modi and the 2002 Gujarat riots. 
On the issue of his party's support to the Congress government at the Centre, he said, "It is conditional and issue-based." 

Addressing a press conference in Agra after the conclusion of party's two-day long national executive, the SP chief said, "We are not supporting Congress on everything." 
The SP patriarch exuded confidence that his party will win maximum number of seats in the upcoming elections. 

When quizzed about the formation of a third front, he said, "A third front of regional parties can be formed after 2014 polls, not before it." 
Mulayam also claimed that Samwadi Party is a democratic party where its members are free to give their views." 

He made this remarks while attempting to calm down the trouble brewing within his outfit following Mohammad Azam Khan’s absence at the party’s national executive meeting in Agra, saying Uttar Pradesh’s Minority Welfare Minister can never be angry with him. 
I am the party president and Azam Khan is a minister. So, it would be better if you ask the chief minister as to why Khan did not attend the Cabinet (meet). Azam Khan can never be angry with me,” he told the media here. 

Samajwadi Party leader Naresh Agarwal earlier in the day asked his party chief to take tough action against Azam Khan over his failure to attend the party’s national executive meeting in Agra. 

Azam Khan, who is the Samajwadi Party’s Muslim face, was absent from the party’s national executive meeting on Wednesday. The Samajwadi Party, however, attempted to communicate a ‘loud and clear’ message that it was not going to give weightage to its senior leader.

“There are 106 national executive members, 26 were absent from the meet...it doesn''t matter,” Samajwadi Party General Secretary Ramgopal Yadav told mediapersons in Agra, while replying to a question. 
Meanwhile, the Samajwadi Party chief also defended the Akhilesh Yadav Government over the Muzaffarnagar violence, and said that it has initiated strict action against the culprits.

“We have taken strict action against culprits and will continue to do so. We will take strict action against culprits, have arrested many such elements,” Yadav said. 

“Justice wasn't done in Gujarat, but I assure it will be delivered in Uttar Pradesh,” he added, while taking a jibe at Gujarat Chief Minister Narendra Modi.  The curfew has been relaxed from 10 a.m. to 5 p.m. in Muzaffarnagar city today. The concerned authorities say that the situation in the curfew-hit city and far-flung areas is fast returning to normal.

It is the third consecutive day of curfew relaxation, which is passing off peacefully. People in large number have come out from their houses. Besides making essential purchases for their families, they are also visiting friends and relatives.

The administration is keeping a strict vigil on every aspect of the violence hit areas including Muzaffarnagar, Shamli, Baghpat and Meerut. Heavy deployment of army and paramilitary forces has been ensured to avert any untoward situation in the deep rural areas. Scores of senior officials, including Additional Director General of Police (Law and Order) Arun Kumar and others, are constantly camping in trouble-hit Muzaffarnagar.  The Uttar Pradesh Government has constituted a one-member judicial commission to probe Muzaffarnagar violence, which claimed at least 40 lives.

The commission, which would mainly look into administrative lapses, if any, in controlling the violence, would submit its report to the government within two months. 

Violence broke out in the Kawal area of Muzaffarnagar on Saturday when members of a community returning from a panchayat meeting in Naglabadhod, three kilometers from Kawal, clashed with members of another community. (http://zeenews.india.com)

Shopkeeper thrashed for misbehaving with lady staff

Bantwal: A shop keeper in Vittal was assaulted by a group of youth  for allegedly misbehaving with a young woman who worked in his shop. A complaint has been lodged in Vittal police station in this regard

According to sources, a man of Rajasthan origin who owned a shop at Empire Mahal of Vittal had behaved indecently with his lady staff. The woman it is learnt complained in this regard with her family.
On coming to know about the incident, some relatives of the young woman had reportedly barged into the shop on September 11, Wednesday evening and thrashed the shopkeeper. The Vittal police who rushed to the spot, dispersed the crowd. Though the shopkeeper despite sustaining injuries maintained mum in front of the police, he later in the night got himself admitted to Vittal Government Hospital and lodged a complaint against the assailants.(newskarnataka.com)

Mangalore: Movement Members Gearing Up for Clean and Beautiful Valencia

Mangalore: "Garbage free environment, Awareness about hygiene and educating public not to throw garbage on streets , Door step garbage collection in association with Mangalore Municipal Corporation, Action on those throwing garbage on streets etc are some of the projects aimed at keeping Valencia and the surrounding areas clean and tidy" said Arunraj Rodrigues-Coordinator of 'Clean Beautiful Valencia Movement', during the press meet held at Mangalore Press Club on 11 September. Rev Fr Bonaventure Nazareth-Parish Priest, Valencia Church, Haji A Hameed Kandak-Social worker, Louis J Pinto-Ex-Vice President, Parish Pastoral Council-Valencia Church, and Ms Appi-Local Corporator were also on the dais during the meet.

Participants in this clean drive and awareness programmes will be Citizens, Religious and Educational Institutions, Associations, Youth organisations and Corporators of all the 5 Wards of Valencia under Mangalore City Corporation.

Corporators of Ward No : 39 - Jacintha Alfred, Ward No : 47 - Abdul Rauf , Ward No : 48 - Asha D Silva, Ward No : 49 - Praveen Chandra Alva, Ward No : 59 - Appi and Mangalore City Corporation will cover and supervise the Area :Nandigudda – Jeppu – Valencia – Suvarna Lane – Kankanady – Pumpwell – Ujjodi – Gorigudda – Ekkur –
 Sutarpete, under this Leadership project of Clean n Beautiful Valencia Movement Committee and Valencia Church.

Stage 1 : Street Play to create Awareness

Stage 2 : Walk for Clean beautiful Valencia-Sept 15, 2013 Sunday 8.00 am Starting from Gerosa School to Valencia Circle, Kankanady Circle – Old Pumpwell Road - Ujjody – Gorigudda up to Valencia Church. Total 3.30 km walk- Individuals as well as groups are welcome to take part in the Walk. Best Banners / Placards and creative groups are eligible for prize.

Stage 3 : Voluntary Labour ( Shrmadana )-September 22 Sunday 9.00 a. m to 12 noon in all the wards of Valencia Area. Collecting roadside garbage and cleaning in groups.

Stage 4 : Continued concern about clean environment, regular meetings in every wards. Unity in Strength, Protecting environment our duty, Let us work hand in towards Clean, healthy and beautiful environment.

There were will be a Street Play " Kalakul" directed by Arunraj Rodrigues and group to create awareness on various issues at the following locations :


Sept 14 Saturday

6.00 p.m - Near Gorigudda Hebic Church

6.30 p.m - Near Valencia Church

7.00 p.m - Near Sutarpete 4th Cross

7.30 p.m - Sutarpete , Near Fisheries College Gate

Sept 13 Friday

6.00 p.m. - Near Kankanady Hospital

6.30 p.m - Near Pumpwell Circle

7.00 p.m - Near Gorigudda Bus Stand

7.30 p m - Near Ekkur Fisheris College

Sept 12 Thursday

6.00 p.m – Near Nandigudda Circle

6.30 p.m - Near Gerosa School

7.00 p.m – Jeppu Majila

7.30 p.m - Valencia Circle

(http://www.mangalorean.com)

Jana Jala Jagrathi program organized by St. Aloysius College

Mangalore: Karavali Chitrakala Chavadi Mangalore, in collaboration with the botany department of St. Aloysius College organized "Jana-Jala-Jagrathi", an awareness programme and spot painting workshop on the Nethravathi river diversion issue and the importance of Western Ghats, on September 10, 2013 in the college auditorium at 2:30 pm.

The guests present for the programme were artist and writer Mr. Dinesh Holla, coordinator of Kudremukh Wildlife Foundation Mr. Niren Jain, president of Karavali Chitrakala Chavadi Mr. Vishnu Shevgur, the HOD of the biotechnology department Dr. Nagalakshamma, and the HOD of the botany department Mr. Sureshnath.

The resource persons, Mr. Holla is an artist and writer by profession who is known for his art exhibitions. He has designed India's biggest kite ever and has taken part in a number of national and international level kite festivals. Mr. Holla spoke about the Western Ghats and river Nethravathi. He explained how if the river was diverted, the source of the river and Western Ghats would be affected. He said that the endangered animals and birds there would become extinct.

Mr. Jain, a national and international awardee, member of the Wildlife Conservation Society New York, and a trekker, made a power point presentation "Yettinahole Diversion Project", through which he conveyed the message that the diversion project would be an emerging threat to the coastal region and would cause imbalance in the eco system. He also said that the Western Ghats, the reserve forests and the wildlife would be ruined if project was continued.

Speaking about the issue, Mr. Sureshnath said that public apathy was the reason for social degradation. Ms. Sapna Noronha, a member of Karavali Chitrakala Chavadi said that to spread awareness about the dangers to environment, the 4 years old association had organized many environment related programs in colleges before.

The spot painting workshop started at 3:30 pm where artists from around the city canvas painted in the college premises. Students of the college were also given the opportunity of drawing and expressing their views on the Anti-Nethravathi diversion campaign.(newskarnataka.com)

Mangalore: Upholding Swami Vivekananda's ideals - Students take part in Bharat Run

Mangalore, Sep 11: A 'Run for Bharat' involving students was organized by Swami Vivekananda 150th birth anniversary committee from Jyothi circle to Nehru Maidan here on Wednesday September 11.

The run was organized in view of the 150th year of Vivekananda's inspirational speech at Chicago Parliament of the World's Religions in 1883.

Dattatreya H, RSS member speaking to the participants said, "We must follow the ideals of Vivekananda. Every individual is divine and should invoke spirituality."

He advised youth to come forward and take an active part in the development of India and make it among the top countries of the world. The run witnessed approximately 2,000 students from across different colleges of Mangalore, Udupi, Moodbidri town etc. A few of the colleges that took part in this event were Alva's College, NITTE, Canara PU college, KPT, NSS union etc, along with scores of RSS membere(http://www.daijiworld.com/news/news_disp.asp?n_id=188367)

Mangalore: Teaching Should be a Mission and not Profession - MLA J R Lobo

Mangalore: Dakshina Kannada zilla panchayat and the department of public instruction jointly organised, a district-level Teachers' Day, at the city town Hall, here on September 5.

The programme began with an invocation. MLC Monappa Bhandary inaugurated the programme by lighting the traditional lamp along with other dignitaries on the dais. A floral tribute was given by the dignitaries to Dr Sarvapalli Radhakrishnan by showering flower petals to his  portrait.

Addressing the gathering Monappa Bhandary said that, teachers give shape to the society, they should be economically empowered to lead comfortable lives. The society should look after their needs and honour their hard work. 

He further said that the society should understand how important are their services to groom the future generations. A teacher in his/her life time imparts education to thousands of students in one way or the other and the society should thank them in a fitting way. The day is also significant for all of us as we remember a great teacher, philosopher and statesman, Dr S Radhakrishnan, whose birth anniversary falls on this day.

In his presidential address MLA J R Lobo stated that most of us have only objective knowledge, one must have subjective knowledge too. We have beautiful tradition of honouring teachers for their contribution towards the society. Teachers are playing a vital role in preparing leaders in the society. And we should thank such teachers and honour them.

He further said that the entire year teachers speak and students listen, but on September 5, others speak and teachers listen. Recalling his interest to become a teacher, Lobo said that his parents and wife are teachers but somehow he landed in politics. Teaching profession is a respectful and sacred one and they are helping the students in developing their personality. 

Teachers should play an important role in changing the society. Teachers must be determined in their work, they should not allow the negative side of the educational system to distract them in their work. There are pro and cons in the system, but when teachers strive hard to change the society, there will be changes in the system. Teachers should not take it as a profession but take it as a mission and help the students to become future leaders of the country.

While concluding he said, "If any school property is not registered or did not get any land rights or has been encroached by anyone, kindly complain to the Revenue department by October 10, so that the papers reach the concerned authorities and land belonging to the schools will be retained".  

A total number of 68 teachers were felicitated on the occasion. Mangalore City Commissioner Shanadi Ajith Kumar Hegde, Principal Philomena Lobo, Zilla Panchayat Vice President Ritesh Shetty, ZP Member Asha Suvarna Radhakrishna Shetty, Rohidas and Lokesh C were also present.( manglorean.com)

Louis Pinto elected as Mandd Sobhann President

Louis Pinto has been elected president of Mandd Sobhann for the year 2013-14.

Mandd Sobhann, an organization engaged in the promotion and preservation of Konkani culture, art and language, held its annual general meeting on September 1, during which the executive committee members were elected.

On September 6, the executive committee held its meeting and elected the president and other office-bearers.
 

The office-bearers are as follows:

Gurkaar - Eric Ozario

President - Louis J Pinto

Vice–president - Ashok Shet

Secretary - Irine Rebello

Treasurer - Lawrence Dsouza

Joint secretary - Rony Crasta

Co-ordinator - Stany Alvares

Public relation officer - Arun Raj Rodrigues

Executive committee: Kingsly Nazareth, Victor Mathias, Naveen Lobo, Sheldon Crasta, Kishore Fernandes, Vernon Dsouza, M A Rehman, Savitha Dsouza, Matilda Pinto, Joy Fernandes, Goa, and Nagendra Shenoy.