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Andrew Symonds (137) and Brett Lee (31) were the unbeaten batsmen when the stumps were drawn for the day.
Brief: Australia 376 for seven in 89 overs (A Symonds 137 batting, B Hogg 79, R Ponting 55; RP Singh 4/108, H Singh 2/88). PTI
Sensex, Nifty end at new closing peaks
Mumbai, Jan 2 (PTI) New Year celebrations are continuing in the stock markets with benchmark Sensex scaling a new high of 20,465.30 points at closing level on the Bombay Stock Exchange, led by blue-chip stocks HDFC, Tata Motors and Reliance Energy The 30-share BSE barometer added 164.59 points today over its previous close of 20,300.71 points to set the new closing level record.
The index touched the day's high of 20,529.48 points and a low of 20,077.40 points. The Sensex also hit an all-time intra-trade high of 20,529.48.
The broader S&P CNX Nifty of the National Stock Exchange also jumped 35.05 points to close at a new life-time high of 6,179.40 from previous close of 6,144.35.
The market surged in the late afternoon trade on sustained across-the-board value buying from investors after showing some pressure due to to weakness in Asian markets, which were down in the range of about 1.0 to 2.3 per cent at close.
The market breadth was strong following widespread gains in the small-cap and the mid-cap shares.
However, analysts said the market has reached the 20,500 resistance level and is expected to correct downwards.
Crediting the upsurge to technical factors, brokers said there was shortage of scrips while liquidity remained comfortable in the market.
Today's rally was led by banks and realty sector with their indices moving up by 3.13 per cent and 2.93 per cent respectively. Stocks of the country's largest private sector lender ICICI Bank surged by 2.88 per cent. BSE Bankex rose to 11,870.49 while the realty index was up at 13,419.67 points. PTI
Sensex closes at record level, realty, bank stocks gain
Mumbai, Jan 2 (PTI) The New Year celebrations in the stock markets have been extended with the benchmark Sensex setting a new closing level record of 20,465.30 points on the Bombay Stock Exchange today on heavy purchases by funds and general investors.
The Sensex added 164.59 points at 20,465.30, a level never seen before. The index touched the day's high of 20,529.48 points and a low of 20,077.40 points.
The key-index had its intra-day peak of 20,498.11 points on December 13 last year.
In similar fashion, the National Stock Exchange index Nifty spurted by 35.05 points to 6,179.40, after touching the day's high of 6,197.00 and a low of 6,060.85 points, still below its record high levels. The Nifty set an intra-day peak of 6,185.40 points on December 13 and a closing peak of 6,159.30 points on December 12.
The market received major support from realty, bank, oil and gas, PSU, metal and healthcare stocks.
As the buying activity spread over a wide-front, the small cap index shot up by 205.90 points to 13,908.97 and mid cap index by 123.91 points to 10,058.94.
The realty segment index surged the most by 381.78 points to 13,419.67, followed by bank index by 360.18 points to 11,870.49. PSU index shot up by 140.43 points tp 10,773.91.
Oil and gas index rose by 110.24 points to 13,391.12, metal index by 99.36 points to 20,160.85, healthcare index by 55.86 points to 4,467.40, auto index by 44.56 points to 5,761.05 and FMCG index by 22.03 points at 2,397.10.
However, the Capital goods index fell by 40.55 points to 19,707.25, IT by 20.46 points to 4,451.02 and teck index by 12.68 points to 3,960.64. PTI
Rupee-impacted exports may miss target of USD 160 bn
New Delhi, Jan 2 (PTI) India's exports may fall 15-20 billion dollars short of the FY'08 target, as a costlier rupee has had a pounding impact on some sectors, including textile.
"If the current rate of growth continues, the exports would be in the range of 140-145 billion dollars for the current year," Commerce Secretary G K Pillai said here today.
He said certain sectors like textile are facing problems because of the sharp appreciation in rupee value. The Indian currency has appreciated 9.7 per cent against the US dollar, the main invoicing currency for trade, between April 3 and November 20 this year.
The country's exports touched 98 billion dollars for the April-November eight-month period showing a cumulative growth of over 22 per cent.
"While there is an overall growth in exports, a sector-wise analysis would show that employment-oriented segments like textile, pharma, leather and handicrafts have registered a decline," Federation of Indian Export Organisations President Ganesh Gupta had said.
He said the respectable figure of 26.82 per cent growth in November 2007 could be on account of sectors with high import content like petroleum performing well.
The government had extended Rs 5,200 crore worth relief package to the rupee-hit exporters by way of higher tax neutralisations through various schemes. PTI
RCom to move High Court for return of spectrum
New Delhi, Jan 2 (PTI) CDMA mobile operator Reliance Communications, whose Chairman Anil Ambani had accused GSM operators of hoarding spectrum, is expected tomorrow to move telecom tribunal TDSAT seeking return of excess air waves from operators using the rival technology.
RCom is likely to raise the issue of GSM operators hoarding excess spectrum to the tune of over 52 MHz, that too having got it free and beyond their eligibility limit of 6.2 MHz, according to sources.
The company is of the view that the excess spectrum should be returned and re-farmed and equally distributed among all operators.
Upset over the government's decision to allot additional spectrum based on TRAI's formula, the company had also served a legal notice to the government to freeze allocation of air waves to existing players.
RCom has maintained that the government should enforce the spectrum allocation norms prescribed by the Telecom Engineering Centre, whose report was accepted by DoT in principle.
TEC norms were much more stringent than those proposed by Telecom Regulatory Authority of India. TEC had raised subscriber base by up to 15 times, while TRAI had suggested up to six times increase in user base for becoming eligible for additional frequency.
Meanwhile, Delhi High Court would tomorrow hear a case filed by Cellular Operators Association of India against TDSAT's interim order not to stay the spectrum allocation process.
TDSAT, in its interim order, had declined to stay the issuance of spectrum by the government, which would allow allocation of GSM spectrum to CDMA operators. PTI
Rane rattles Deshmukh
Mumbai, Jan 2 (PTI) Barely a month after the Maharashtra Chief Minister Vilasrao Deshmukh celebrated completion of his three year tenure as chief minister of this state, his own cabinet colleague Narayan Rane gave him a massive jolt when he publicly revolted against him.
Though the epicentre of this revolt was in New Delhi where Rane held a press conference questioning Deshmukh's ability to lead the state, its tremors rattled his throne in Maharashtra.
Rane while addressing a press conference in New Delhi without naming Deshmukh after meeting Margaret Alva, AICC general secretary in-charge of Maharashtra said the government was not working for the 10 crore people of the state but only for 'one person'.
While it is an open secret that Rane, a former Shiv Sena Chief Minister had quit the party in 2005 following his differences with the Sena and joined the Congress was nursing an ambition to become the chief minister, his open revolt was surprising if not shocking to political observers.
After Rane was expelled from Sena he joined the Congress with a one point agenda of reoccupying the chair of Chief Minister. Interestingly Rane fired his salvo against Deshmukh after meeting the AICC incharge of Maharashtra, Margaret Alva, a strong Deshmukh baiter. This is being interpreted in the political circles that Rane had her tacit support though neither of them admitted it.
What seems to have made things difficult for Deshmukh is the fact that even after such an outburst against Deshmukh, Rane managed to get an audience with the Congress President Sonia Gandhi. This has given grist to the rumour mills that Deshmukh's days as Chief Minister of Maharashtra are numbered and that there could be a change of guard. PTI
Ancient cave paintings in new light
Annie Samson
New Delhi, Jan 1 (PTI) Stunning murals by fifth-century painters in dimly lit man-made caves in India have found place in the latest edition of the renowned magazine, National Geographic.
The monthly has featured photographs by art-historian Benoy Behl, who uses a long, light-soaking photography exposure technique to bring out the true-colours of the ancient paintings and murals inside the dark confines of caves and temples.
The feature, 'Faces of Divine,' is an interview of Behl by the magazine's writer Tom O Neill who accompanied Behl and his team as they criss-crossed the length and breadth of the country.
"We are reminded in the ancient paintings that the stated purpose of art was not to present photographic reality but to convey the essence and harmony which underlines all of creation," says Behl who had visited Ajanta caves 16 years ago with the challenge of photographing murals using only natural light.
"For 15 years the National Geographic team followed my work and earlier this year, their photographer and writer accompanied me and my team in our travels across India. They realised that ancient Indian art was one of the most sublime in the world," says Behl.
The technique of photography is one that Behl has used in all his works, that of extremely long exposure in dim light. "Not only are they perfectly captured they are also very much better. Several renowned archaeologists have commended the picture quality and said the paintings were much clearer," he says. PTI
Lucky charms, still popular
Ashwini Kumar Shrivastava New Delhi, Dec 31 (PTI) Does wearing yellow-color shirt bring 'good luck' to you? Or a day without food wins you a job? If you are among those who feels that wearing, keeping, following or even seeing something gets 'good luck' or in a way 'heals you' then you probably suffer from a psychological phenomenon called magical healing - fast gripping gen-next, say expert. But then you are not alone.
No matter how modern and advanced we become, some taboos still define our ways of living. And, magical healing is among one of those, they say.
"I would really experience bad events, if I start the day without worshiping. Offering prayers to god has been a part of my daily schedule for years now," says Yashdeep Rai Saxena, executive with HDFC bank, who spends 30-45 minutes a day performing 'puja'.
"My daughter always wears blue-colour dress which she feels lucky and avoid wearing red-colour outfits fearing that she would have to listen bad news," says Monika Lalchandani.
"I couldn't stand nor justify her belief. She has been told-off by her bosses, friends and colleagues many times for always being in blue," she adds.
There are many such instances in day-to-day life where people, mostly youngsters are taking up such acts. The form of superstitions transcend borders, castes and age-groups.
"Some would wear a particular thing, follow rituals or do something in peculiar to get the expected. It is nothing but a sort of 'psychological dependence'", says Dr Roma Kumar, senior consultant clinical psychologist with Sir Ganga Ram hospital. PTI
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