Correction over

The markets are still trading lower with selling pressure in realty, technology, power, oil, capital goods and auto stocks. However, midcaps and small cap indices have recovered a bit and trading in the green. The market breadth is still positive as 1827 shares have advanced, 1125 shares declined and 68 shares are unchanged. Among the global indices, asia closed mixed today. Europe is trading higher.

At 14.06 hrs IST, the Sensex is down 113.88 points or 0.63% at 18001.37, and the Nifty down 34.45 points or 0.65% at 5268.45.
Reliance pack stocks are among the most active stocks on the bourses. The ADAG stocks are hogging all the limelight after the bonus issue news Reliance Power is holding rock solid at Rs 419 with 11,094,397 shares.

Bonus Share

Reliance Power Board will give free bonus shares to all it's shareholders to compensate the losses everyone of us suffered when the company was listed a week ago and now trading at Rs 415.

Anil Dhirubhai Ambani Group's Reliance Power shares are poised for up move on this news tomorrow on 18th Feb, Monday. This might lift the market up as well, the same way it pulled down the market on the Reliance Power IPO listing day of 11th Feb. On the listing day, Reliance Power share was down by 32%.

But Reliance Power board will not allot the bonus shares to company promoters. The company had issued the shares at Rs 450 while giving a discount Rs 20 a share to retail investors and accrued Rs 7,50,000 crore from IPO.

Naxal Attack In Orrisa

For the first time in coastal Orissa, Naxalites killed 14 people, including 13 policemen, besides injuring 10 others and looting the district armoury in Nayagarh after virtually laying siege to the town, police said on Saturday.

In a daring and meticulously planned attack late Saturday, the ultras targeted a police training school, armoury and a police station in Nayagarh and another police station at Daspalla, the police said.

A huge cache of arms and ammunition was taken away in a truck and a bus they had hijacked, the police said.

A group of nearly 100 naxals, including women cadre, with bombs and firearms carried out the attack killing 13 police personnel, including two women, and a civilian besides causing injuries to about nine persons,

Ban On Sledging

The Board of Control for Cricket in India will put forward a proposal to the International Cricket Council to ban sledging from the game.
"Cricket is not a physical, contact sport and we don't see why there should be any abusive language at all," BCCI secretary Niranjan Shah told the Hindustan Times.

Shah said he will formally make the request at the ICC [Images] chief executive committee meeting in Kuala Lumpur next week.

PM ASKED TO TENDER APOLOGY

The Bharatiya Janata Party has asked Prime Minister Manmohan Singh and his government to tender an apology to the nation and explain why it mislead the country on the nuclear deal.

BJP spokesman for the party, took the United Progressive Alliance government to task after US Secretary of State Condoleezza Rice's expected revelation that " the US will support the agreement between India and Nuclear Suppliers Group if it is consistent with the Hyde Act."

US RECESSION MAY NOT HAVE GREAT IMPACT.A STUDY

The US economy is in recession, but it is still left to see how serious. But the current US recession may be deeper than the last one. Global markets may bottom out by the third or fourth quarter of 2008, he says. But since India is comparatively less co-related to the US, economically, it is better positioned than other emerging markets for the long term.

Award for Indian Doctor

Ajayan, an Indian-origin doctor working in the National Health Service, has been awarded the firs Award by the British Association of Physicians of Indian Origin.

The award has been instituted in memory of Imran Yousaf, a Pakistan-origin doctor who committed suicide after being adversely affected by changes to immigration rules in March 2006.

When BAPIO initiated legal action against the changes, it needed an applicant who was willing to allow his name to be used as an individual in the court proceedings.

Sensex up by 600 Points

Spectacular beggining on Valentines day.The sensex is up by 600 points.Will it hold good??/