Mike Collett-White

The banking index dropped 2.6 pct on Thursday, dragged down by losses of over 3 percent in top counters ICICI and SBI.

Stocks in this sector were under pressure throughout trade, which saw all counters in the bankex, except Canara Bank, closing in the red.

HDFC Bank, another major player, ended down 2.4 percent.

Mid-cap counters like Dena Bank and Vijaya Bank too struggled in trade and ended down 6.5 percent and 5.8 percent respectively. Both stocks were among top losers in the mid-cap index.

The banking index has gained 7.7 percent in November, a tad higher than the benchmark Sensex’s return of 6 percent.

Would you take advantage of the fall and invest in this sector?

Attention all eaters (and shoppers)!  
    
Today, as the scent of turkey and spice wafts through your cozy abode ahead of the big meal, you may feel frustrated that your natural instinct to hunt and gather -- remember our forefathers? -- is thwarted by store opening hours. 
    
But never fear! You don't have to wait for the stroke of midnight, when many retailers will open wide their doors. Assuage your instincts now by clicking on Reuters' selection of holiday shopping stories, from women shoppers finally buying for themselves to food donations by Wal-Mart. Or how about a look at retailers vying for more full-price sales, or social media providing a boost to sales.
    
Reuters will be sending its reporters across the country to visit stores, interview shoppers and retailers throughout the long weekend, providing an advance look for investors, and shoppers, of how the crucial holiday sales season is shaping up.

(Reuters photo)

A government-backed inquiry has accused several of India’s top opposition politicians of having a role in the destruction of an ancient mosque in 1992 that triggered some of the country’s worst religious riots.

The report has sparked political protests from opposition Bharatiya Janata Party (BJP), which finds itself in even more trouble as it struggles to emerge from internal feuding after an election defeat in May.

Hindu mobs demolished the 16-century Babri Mosque in the north Indian town of Ayodhya, claiming it stood on the birthplace of their god-king Rama. Riots between Hindus and Muslims left hundreds dead across India.

The report, 17 years in the making, says some of India’s best known BJP politicians — including former Prime Minister Aal Behari Vajpayee and current opposition leader Lal Krishna Advani — did little to stop the destruction despite knowing of plans to demolish it.

Here is our news story on the report and a Q&A explaining the background.

A year ago, after the three-day siege of Mumbai ended and people took to the streets with candles and banners, a group of young Muslim men, carrying a hand-written poster, walked quietly with the surging crowds.

Seeing them, people began to clap spontaneously, applauding their assertion that Islam was a religion of peace, and not terrorism.

Since then, people in Mumbai, which has witnessed some of the worst communal riots in the country in the past, have come together in their grief, crossing barriers erected by politicians in the name of religion.

Some have accused the media of not highlighting enough, the fact that the militants asked their hostages what religion and then killed non-Muslims.

Others have speculated that the few thousands of Jews left in India would leave the country because six Jews were killed in the attack on Chabad House.

But in Mumbai today, just days after the explosive report on the Babri Masjid demolition was made public, there is a sense of community and togetherness. A big difference from 1992, when riots between Hindus and Muslims that followed the demolition killed hundreds.

And so today, multi-faith prayer services are being held everywhere in the city and there are countless stories of inter-faith friendships that blossomed in the days after the attacks.

And so the nine bodies of Islamist militants killed last November still lie in a hospital morgue because Muslim clerics in the city have refused to bury them.

And so Muslim bakers in Byculla in Mumbai still bake the traditional bread for the Jewish Sabbath.
And so Muslims celebrating Eid on Nov. 28 will gather in the compound of the Jewish synagogue in Byculla for their prayers.

And so at the Chabad House memorial service, Muslim neighbours will be present.
Because when lives have been taken, religion should not matter.

The haj is supposed to be a spiritual highlight in a Muslim's life, but everyday issues can sometimes intrude. In between prayers and visits to various sites, pilgrims often discuss all kinds of current issues. Among Algerians and Egyptians on the haj here this year, the buzz is about the public row sparked by a soccer game to qualify for the 2010 World Cup. Algeria won that match 1-0.

(Photo: Haj pilgrims at the Grand Mosque in Mecca, 24 Nov 2009/Caren Firouz)

The football rivalry has caused considerable bad blood between the two countries. Egypt has recalled its ambassador from Algiers after the play-off, accusing Algerian fans of post-match thuggery at the game's venue in Khartoum. Egypt had earlier complained when Algerian fans trashed the Algiers headquarters of Egypt-based Orascom Telecom's Djezzy mobile subsidiary. Before that, Algeria was irked after Egyptian fans pelted the Algerian team's bus with stones and some fans were hurt in scuffles on game-day in the first round of the qualifier in Cairo.

"We are brothers ... This should have never happened and I blame the media in the two countries for instigating ill feelings among the most foolish of us," said Khaled Salam Abdallah from Cairo.

Mohamed Lab'haj, an Algerian pilgrim, agreed.  "We are more than brothers ... The real criminals are the Arab governments. They play with us like they do with a ball ... If football had much use in it, they would not have kicked the ball with their feet," he said.

The haj, a duty for every able Muslim, emphasises the unity of all Muslims. This year's pilgrimage has offered the first big encounter between Algerian and Egyptian masses since the football showdown. Some 2 million Muslims have come to Mecca in Saudi Arabia.

Abdulwahhab Alyousha, an Algerian pilgrim, said he was outraged that such a spat erupted between two countries that shared a significant part of their modern history.  "Egyptians helped our Algerian revolution. I don't think this dispute will mar bilateral relationships for good," he said, referring to the movement which led to Algeria's independence from France in 1962.

(Photo: Egyptian protesters at Algerian embassy in Cairo, 19 Nov 2009/Asmaa Waguih)

Some refused to talk about the issue. "Soccer is a matter of earthly life, we are here to work for our afterlife," Egyptian pilgrim Adel Abdul-Shafi said.

Saudi Arabia warned earlier this month against any attempt to politicise the pilgrimage, saying they would threaten the safety of worshipers.  In 1987, a rally by pilgrims against Israel and the United States led to clashes with Saudi security forces in which 402 people, mostly Iranians, died.

Follow FaithWorld on Twitter at RTRFaithWorld

An Israeli police officer leans on a bus next to a dummy during a drill simulating a bomb attack near the Western Wall in Jerusalem's Old City November 25, 2009. Some 300 policemen, firefighters and rescue workers took part in a routine drill on Wednesday to help increase preparedness for emergency situations in civilian areas. REUTERS/Ammar Awad

Former servicemen cry as they say goodbye to their fellow soldiers following the end of their army service term at a railway station in Shijiazhuang, Hebei province November 25, 2009. REUTERS/China Daily

Horses are pictured during the Sicab International Pre Horse Fair show in the Andalusian capital of Seville November 25, 2009. The show runs till November 28 and is dedicated exclusively to Spanish thoroughbreds. REUTERS/Marcelo del Pozo

Jose Maria Di Bello (R) and his partner Alex Freyre kiss at a hotel bar after an interview with Reuters in Buenos Aires November 25, 2009. Freyre and Di Bello, Latin America's first same-sex couple to be granted a marriage license, hope their wedding will pave the way for other homosexual couples in Argentina to marry. The couple are HIV positive and plan to marry on December 1 on World Aids Day.  REUTERS/Marcos Brindicci

Sean O'Connor conceived of his pancake-in-a-can company - Batter Blaster - nearly a decade ago, but the process of getting the science and the taste to come together took years (See original story here).

To counter the negative perception of many aerosol-food based products, like whipped cream or squeeze cheese, O'Connor decided to make his batter organic and sought the U.S. Department of Agriculture's official approval. This he believed would make it more palatable for his target audience of single mothers.

The move paid off. Batter Blaster is now in 13,000 stores across the country, from Costco to Whole Foods, and will appear in Wal-Mart stores nationwide in the New Year. The product has a 90-day shelf life and retails for $4.99.

THE PITCH

For such an edgy product, going the traditional TV route might seem odd, but O'Connor said they have had great success in the past with short TV hits and wants to do a bigger retro-style campaign, like the Eggo waffle ones that enjoyed so much success in the 1970's.

"Our product kind of brings up that retro/futuristic Jetsons thing," said O'Connor, whose website loads with a nostalgic jingle and the lyric: "Make a better breakfast faster, Batter Blaster."

O'Connor said his revenues have been around $8 million for each of the last two years. If he can make more consumers aware of his product's core strengths of convenience and taste, then he could potentially increase demand fourfold, he said.

TAKING IT TO THE EXPERTS

Kim Gordon, a marketing columnist for Entrepreneur magazine and small business author,  thinks that before O'Connor does any kind of widespread TV campaign, he should first reconsider the name Batter Blaster, as she felt it is too "gimicky" and would not ultimately appeal to their target audience of mothers.

"When you first hear the name of the product and you first see the images on the can, it doesn't jive with what you hope the product will deliver, particularly for this target audience," said Gordon. "People want brands and products they can trust - because money is limited - and what they are doing is they're throwing up a barrier to sales by asking people to get over the mistrust set up by the gimicky name."

Gordon said it's likely too late for O'Connor to change the name completely, but suggested scaling it back on the cans so it's not so front and center and to also change the current slogan "Breakfast is a blast" to something that plays more to the product's core strengths of it being a fast and healthy alternative to traditional pancake mixes.

"As you introduce a new product it should be safe and comfortable," insisted Gordon, who referred to whip cream product Reddi-wip's slogan 'Nothing's more real than Reddi-wip' as a good example. "You get the consumer past the fear of the unknown by making the product comfortable, but also fresh and young to appeal to young mothers, not too kitschy or funny."

Jonathan Salem Baskin, a brand marketing expert, blogger and author of "Bright Lights & Dim Bulbs",  agreed with Gordon and felt Batter Blaster appears to be somewhat conflicted in terms of its advertising message, as its organic ingredients are at odds with the campy nature of its marketing strategy.

"The Batter Blaster aerosol-like can, and 'cartoony' branding imagery, almost contradict the wholesome nature of the product," said Baskin, adding that O'Connor should stress the healthier aspect of his product more. "I'd shelve the presumption that people want pancake batter made easy - a la salad in a bag - and instead identify a more compelling benefit. 'Fresh made fast' would address the parental desire to serve better food without the hassle."

Baskin also warned against expanding distribution overseas, before locking down the U.S. market. "There's no math that supports a small company developing distribution so far away from home so early in its history," said Baskin, who suggested O'Connor focus his energies less on getting Batter Blaster into more stores and more on trying to simply increase the number of point-of-sale purchases in existing retail outlets.

"This is a cool product and I love the obvious intelligence and passion evidenced by the leaders of the business," he said, "but the talk about global distribution and selling to every customer who has a mouth makes me worry that their eyes are a bit larger than the reality of their plans."

Therese Tetzel, president of the Dallas, TX-based sales and marketing agency BusinessMODERN, felt Batter Blaster is a great product concept and one that reminded her of Ben & Jerry's with the same attributes of being easy, fast and with all-natural ingredients.

Tetzel said where Ben Jerry's excelled was in the entire consumer experience of their ice cream - the taste, the texture, the enjoyment, the satisfaction, the packaging and the wholesome ingredients - and suggested O'Connor needs to do more in regards to conveying that to shoppers.

"Its not about how easy it is to use the can, it's what is in the can and how good it is to eat," said Tetzel, who used to do marketing for Quaker State. "I would take a step back and do some quick product testing to make sure I understood what consumers thought of the product, what they liked, what they didn't, why they bought, and why they didn't."

Tetzel said that in addition to Whole Foods and Wal-Mart, O'Connor should market his batter directly to military grocery stores, dormitories, hotels, hospitals and nursing homes or anywhere that relies on fast and healthy eating.

Do you agree with our experts? What should O'Connor do to promote awareness and boost sales for Batter Blaster? Post your comments below.

Nicolas Anelka's arrival at Chelsea in January last year hardly had the fans buzzing amid all the big-money signings since Russian billionaire owner Roman Abramovich transformed the fortunes of the west London club.

The peripatetic France striker seemed like a stop-gap and few expected him to be part of Chelsea's long-term future.

He had just spent 18 months at Bolton Wanderers after spells at Fenerbahce, Manchester City, Liverpool, Paris St Germain and, following the best piece of business in Arsenal's history, Real
Madrid who he joined for 23 million pounds.

At none of those clubs, however, did he really settle and deliver the regular match-winning performances that made him such a deadly proposition under Arsene Wenger at Arsenal.

His first half-season at Chelsea produced just two goals and, although he was far more prolific last term with 25 and some excellent displays, there was always the feeling he was second fiddle to Didier Drogba.

This season, however, Anelka seems to have stepped up a gear and gives the impression that not only is he enjoying his football, a rarity for a man nicknamed 'the incredible sulk', but he is increasingly the focal point of Chelsea's attack.

He headed the only goal on Tuesday in the Champions League win at Porto that secured top spot in Group D to maintain his record of vital goals this season having been the sole scorer in the home win over Porto and 1-0 victory at APOEL Nicosia.

He was also outstanding for France in the 1-1 playoff draw with Ireland that secured a World Cup berth, holding the ball up repeatedly with a sure touch and keeping possession despite some tough Irish tackling that previously might have seen him wilt.

"Not only in the Champions League but in all competitions Anelka is having a very good season," Chelsea boss Carlo Ancelotti said after Tuesday's win.

"He is a very important player, sometimes playing as a striker close to Drogba, sometimes helping the midfield. His position is very important for our play."

On Sunday Chelsea face London rivals Arsenal, where Anelka made his name as a teenage tyro after being nabbed from PSG for a bargain 500,000 pounds by Wenger.

He scored there in last season's impressive 4-1 triumph and any sort of repeat would be a huge help in Chelsea's title push.

"It is a very good time for us and we have to keep this going because the players are in good condition, have a good mentality and want to maintain this momentum," Ancelotti said.

"We know very well that Sunday will be a very difficult match but we know that now is a very good time to play Arsenal," he added, with their opponents hit by a string of injuries.

Chelsea could be further boosted by an early return for Frank Lampard after a thigh strain. Ancelotti said the England midfielder was in full training and may be fit for Sunday.

PHOTO: Chelsea's Nicolas Anelka (R) is challenged by Liverpool's Daniel Agger during their English Premier League soccer match at Stamford Bridge in London October 26, 2008. REUTERS/Stephen Hird

Just when investors were settling down to lock in a few of the year's profits and put their feet up for the end of the year holidays, a black swan has come waddling out of the desert to put everything on edge.

The unwelcome cygnus atratus came in the form of Gulf emirate Dubai telling creditors of Dubai World and property group Nakheel that debt repayments would be delayed.  Fears of contagion spread widely, hitting world stocks, lifting the dollar out of its basement and driving demand for European debt so much that a roughly 6-month trading range for futures was breached.

It all may settle down soon. Dubai says the problem does not apply to its big international ports group.  Meanwhile, the emirate is a pretty leveraged place, but fellow emirates and neighbouring countries such as Abu Dhabi, Qatar and Saudia Arabia are pretty flush with cash. They could even step in to help as a matter of solidarity.

At least for now, though,  it is showing just how interlinked everything is.  Ok, of course, banks get hit when people worry about expsosure. But who would have thought that a European car company  would get clobbered by a debt problem in the Gulf?

The issue is those sovereign wealth funds that have been recycling their country surpluses into investments elsewhere. Qatar owns 10 percent of Porsche, Abu Dhabi and Kuwait own 17 percent of Daimler between them. So it is not just investors worrying about their money in the region, it is investors also worrying about where the region's money is.

Is country risk taking on a new meaning?