The BSE Sensex posted a third consecutive weekly fall, closing nearly 1 percent lower amid persisting worries over the slowdown in foreign investors’ buying into Indian shares.
Data shows FIIs sold shares worth $9.5 million on Thursday, snapping a 32-day buying streak as minutes from the last U.S. Federal Reserve meeting showed a decision on tapering its bond-buying programme may be taken at one of its next few meetings.
Folk singer Reshma was born in 1947, the historic year when India and Pakistan gained independence from British rule. She was born in India, but her family migrated to Pakistan when she was a month old. Small wonder, then, that Reshma’s unconventionally husky voice won admirers on both sides of the international border.
Reshma, who died earlier this week after a battle with throat cancer, was best known for her distinctive rendition of Punjabi folk songs. For her fans, she was the “Nightingale of the Desert” and her death at the age of 66 was a fresh blow to the arts in Pakistan, coming a year after ghazal singer Mehdi Hassan’s death.
Hurt by profit-taking in blue chips, the BSE Sensex posted its worst weekly decline since August as it lost 2.7 percent in a holiday-truncated week.
On Thursday, shares were hurt after ratings agency Standard & Poor’s said it will review the rating of Asia’s third-largest economy after the new government lays out its policy agenda next year. The agency’s outlook on rating remains negative.
Every fall, people gather in Delhi’s Mehrauli area for the “Procession of the Florists,” a festival to commemorate the return from exile of a 19th-century prince who crossed India’s British colonial rulers.
The “Phool Walon ki Sair,” as it is called in Hindi and Urdu, features the offering of a “chaadar” or a “sheet” of flowers at a Muslim shrine and floral “pankhas” or fans at a nearby Hindu temple but after nearly 200 years, its popularity is fading.
On a hot Tuesday afternoon, I walked into the recently reopened Dalit park in Noida, outside New Delhi. This is the park built by Mayawati, the 57-year-old former chief minister of Uttar Pradesh, as a memorial to the class of people long known in India as “untouchables.” A Dalit herself, Mayawati is a symbol of what traditionally oppressed classes and castes in India can do with their lives.
Of course, Mayawati has been accused by her political opponents of wasting money — lots of it. She seems like an easy target, especially when she has commissioned statues of herself. For a senior Congress politician, erecting one’s own statue was an act of ‘megalomania’. But the symbolism that this structure seeks to attach itself with — asserting Dalit identity and acknowledging “sacrifices” made by people of backward classes — is hard to miss.
After falling for four consecutive months, India’s banking stocks have surged in September on value buying and recent measures announced by the new Reserve Bank of India chief, but analysts remain cautious.
On his first day in office, RBI chief Raghuram Rajan announced measures to prop up the rupee and liberalise the banking system, including higher overseas borrowing limits for lenders and simpler branch opening processes.
September is turning out to be a good month for Indian shares, as key stock indexes extended gains in the last four sessions. Monday was a market holiday.
The BSE Sensex gained 2.4 percent, while the broader Nifty rose nearly 3 percent as foreign institutional investors (FIIs) extended buying into Indian equities. A recovery in the rupee, which posted its best week in 15 months, also boosted sentiment.
Indian shares have had a mixed year so far, but the BSE metals index, which is a barometer of metal companies’ performance in India, has been the worst performer among sectors, data shows.
(Any opinions expressed here are those of the author and not necessarily of Reuters)
Getting directors, producers and activists into a room to figure out Indian cinema’s connection to violence toward women, rape and crudeness in society can be like a family gathering. People shout, get angry and fail to solve fundamental problems because they can’t agree on anything.
(Hindi translations by Ankush Arora, with help from Havovi Cooper and Uzra Khan. Punjabi translation by Vineet Sharma.)
How do you pay tribute to a singer who faded from public memory, only to revisit the headlines when she died? I was wondering this today after learning that playback singer Shamshad Begum died in Mumbai on Tuesday, just 10 days after her 94th birthday.