Excelsior Correspondent
JAMMU, Mar 15: Speaker Mubarak Gul today took strong exception to the opposition PDP equating the Assembly with ‘theatre’ and charging the members with enacting dramas.
Without naming the PDP, Mr Gul while making a statement in the Assembly soon after his arrival from Kashmir where he had gone to attend last rites of his close aide Altaf Ahmad Wani, said he would never allow the sanctity and decorum of the House to be lowered.
“A leader has given a statement calling the Assembly a theatre and people here enacting drama and playing role. I condemn this’’, Mr Gul said, adding no member or the leader should speak about the House like this.
“It was due to many sacrifices that we got the House. In future, the leaders shouldn’t make such statements’’, the Speaker said.
The PDP was not present in the House as it has boycotted budget session of the Legislature on Wednesday in protest against Union Home Minister Sushil Kumar Shinde’s statement refusing to handover the body of Afzal Guru to his family.
The PDP Legislature Party had yesterday issued a statement describing the Assembly as a theatre and charged the ruling party with enacting drama.
Speaker flays PDP for theatre remarks
Crude oil futures up on overseas cues
NEW DELHI, Mar 15: Crude oil futures prices rose by 0.36 per cent to Rs 5,049 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in March gained Rs 18, or 0.36 per cent, to Rs 5,049 per barrel, with a business turnover of 5,769 lots.
The oil for April delivery also moved up by Rs 16, or 0.31 per cent, to Rs 5,097 per barrel in a turnover of 835 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia as a weaker US dollar currency made the dollar-priced commodity cheaper and spurred demand.
Meanwhile, crude oil for April delivery advanced by 15 cents to USD 93.21 a barrel on the New York Mercantile Exchange. (PTI)
Respect martyrs
The nation is shocked to know that none of the VIPs attended the poignant adieu to five soldiers of the CRPF who were martyred while fighting the terrorists in Bemina attack. What could be the mystery behind the fact that no senior Minister of the NC-Congress coalition Government being present when a last salute was given to them? None from the opposition parties including PDP chose to be present on the occasion. Is our leadership so insensitive that it would not even pay lip service to the soldiers who protect them day and night against any mishap? The soldiers have given vent to their dissatisfaction at the insensitivity of the bigwigs. Perhaps they think that the martyrdom of five soldiers is not a matter of sufficient importance to attract their attention. But when the killing of a civilian by mishap in stone pelting incident takes place the state ministers, political leaders and others rush to the families of the dead person to show their sympathy. Five unarmed soldiers were gunned down while inside the camp and not on deployment. Have they no human rights and should not their killing be taken as gross violation of human rights? The occasion of giving them final farewell was a somber one and not to speak of the VIPs even the opposition members should have made their presence felt on humanitarian grounds.
There are occasions when political differences need to be cast aside and hands joined to show solidarity with our defence forces and paramilitaries. When national interests are involved, smaller differences should fade away. Martyrs have to be shown utmost respect as they lay down their lives so that we survive. This is the supreme sacrifice and a grateful nation is expected to show them full respect. It is difficult to ignore the complaint of the soldiers that they are shown scant respect and concern when they lay down their lives in guarding the sovereignty of the nation.
Pepper futures up on spot demand
NEW DELHI, Mar 15: Pepper prices moved up by Rs 165 to Rs 36,045 per quintal in futures trading today as speculators created fresh positions, supported by a rise in demand in the spot market.
However, estimates of a higher output this season limited the gains.
At the National Commodity and Derivatives Exchange, pepper for delivery in April month rose by Rs 165, or 0.46 per cent, to Rs 36,045 per quintal, with an open interest of 1,427 lots.
Similarly, the spice for delivery in March moved up by Rs 115, or 0.31 per cent, to Rs 37,270 per quintal in 675 lots.
Analysts attributed the rise in pepper prices at futures trade to fresh positions built-up by speculators on the back of pick in demand in the spot market. (PTI)
Chana futures up on pick-up in demand
NEW DELHI, Mar 15: Chana prices rose by Rs 9 to Rs 3,395 per quintal in futures trade today mostly supported by rising demand in the spot markets.
However, expectations of higher output and rising arrivals from the new season crop in the physical market restricted the gains.
At the National Commodity Derivatives Exchange, chana for delivery in April rose by Rs 9, or 0.27 per cent, to Rs 3,395 per quintal, with an open interest of 73,590 lots.
Likewise, the commodity for delivery in May traded higher by Rs 8, or 0.24 per cent, to Rs 3,384 per quintal in 65,300 lots.
Analysts said the rise in chana prices at futures trade was mostly attributed to strong demand in the spot market. (PTI)
Copper futures rise on global cues, spot demand
NEW DELHI, Mar 15: Buoyed by a firm global trend and increased domestic demand, copper prices rose by 0.26 per cent to Rs 427.40 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in April traded higher by Rs 1.10, or 0.26 per cent to Rs 427.40 per kg in business turnover of 4,939 lots.
Similarly, the metal for delivery in June edged up by Rs 1.10, or 0.25 per cent to Rs 433 per kg in a turnover of 227 lots.
Market analysts said apart from increased demand from consuming industries, a firming trend overseas on positive US economic data, improving demand prospects with the world’s second-largest consumer of metal, influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months climbed 0.4 per cent to USD 7,829.50 a tonne on the London Metal Exchange, at Shanghai Futures Exchange, the metal for July delivery rose 0.2 per cent to 56,930 yuan (USD 9,158) a tonne. (PTI)
Nickel futures up 0.29 pc on spot demand
NEW DELHI, Mar 15: Nickel prices moved up by 0.29 per cent to Rs 941.10 per kg in futures market today after speculators enlarged their position on the back of increased demand in spot market from alloy-makers even as metal rose globally.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 2.70, or 0.29 per cent, to Rs 941.10 per kg in business turnover of 4,112 lots.
In a similar fashion, the metal for delivery in March rose by Rs 2.60, or 0.28 per cent, to Rs 934.90 per kg in 4,112 lots.
Market analysts said increased domestic demand from alloy- makers mainly influenced nickel futures prices but metal’s weakness at the London Metal Exchange, restricted the gains. (PTI)
Lead futures up on strong spot demand
NEW DELHI, Mar 15: Supported by strong demand in the spot market, lead futures prices today rose marginally to Rs 121.55 per kg.
However, metal’s weakness at the London Metal Exchange (LME), limited the gains.
At the Multi Commodity Exchange, lead for delivery in March traded 20 paise, or 0.16 per cent higher at Rs 121.55 per kg, with a turnover of 3,887 lots.
The metal for delivery in April also rose by a similar margin to Rs 122.35 per kg in a business volume of 322 lots.
Marketmen said strong domestic demand, particularly from battery-makers mainly influenced lead prices at futures trade here but a weak trend in metal at the LME, restricted the upside. (PTI)
Aluminium futures up 0.38 pc
NEW DELHI, Mar 15: Aluminium prices today rose by 0.38 per cent to Rs 105.95 per kg in futures trade mostly in line with a firming trend in the global markets.
Besides, increased demand at domestic spot markets also influenced prices.
At the Multi Commodity Exchange, aluminium for delivery in March rose by 40 paise, or 0.38 per cent, to Rs 105.95 per kg in business turnover of 1,007 lots.
Similarly, the metal for delivery in April traded higher by 35 paise, or 0.33 per cent to Rs 107.60 per kg in 52 lots.
Market analysts said the rise in aluminium prices at futures trade was mostly attributed to a firming trend in the global markets and rising demand at spot markets here. (PTI)
Hong Kong, China shares set for heaviest weekly loss in three
HONG KONG, Mar 15: Hong Kong and China shares rose on Friday, led by banking and railway counters on restructuring of the mainland’s vast rail operations, but were still set to end the week with the heaviest losses in three weeks.
At the midday break, the Hang Seng Index was up 0.76 percent at 22,790.14 but down 1.3 percent on the week. The China Enterprises Index of the top Chinese listings in Hong Kong gained 0.85 percent, although it’s now down 2.5 percent this week.
The CSI300 of the leading Shanghai and Shenzhen A-share listings gained 2.3 percent, while the Shanghai Composite Index climbed 1.65 percent. They are now down 0.6 and 0.5 percent this week, respectively.
All four indexes are headed for their worst weekly losses in three, with onshore Chinese markets testing their lowest in two months this past week.
‘I doubt there will be much downside from here, so if you are a bit light on your positions, this may be a good time to buy into beaten-down counters with a clearer growth or earnings potential,’ said Larry Jiang, chief investment strategist at Guotai Junan International Securities.
On Friday, China Railway Group shares rose 1.5 percent, while China Railway Construction gained 1.7 percent.
China’s cabinet has approved the setting up of a railway company with a registered capital of 1.04 trillion yuan ($167.4 billion) following the government’s decision to dissolve the scandal-plagued Railways Ministry.
On Friday, Chinese property developers sank after the country’s housing minister was reported by the official China Securities Journal to have said that curbs on the housing market will be strictly enforced, resulting in a fall in home prices.
China Vanke gained 0.5 percent in Shenzhen.
Chinese property stocks have been volatile since the country’s cabinet announced on March 1 more measures intended to curb speculative home demand amid rising prices.
(AGENCIES)