Mumbai: Markets ended in the red for the second straight week due to persistent selling pressure from operators and investors following uncertainty over Bihar Assembly election results coupled with disappointing quarterly earnings by blue-chips. Persistent foreign capital outflows, sustained fall in the value of rupee against the dollar also led to fall in share values. Investors refused to play ball as they digested US Fed Chair Janet Yellen’s announcement on Wednesday that a December rate hike is very much on the table as the economy has performed well. Shares of Healthcare, Capital Goods, Metal, Power, Realty and Banking sectors fell sharply due to heavy selling pressure.

The Sensex resumed lower at 26,641.69 and hovered in a range of 26,824.30 and 26,190.18 before closing at more than 5-week low at 26,265.24, showing a loss of 391.59 points or 1.47 per cent. It had last ended at 26,220.95 on October 1, 2015. The Sensex dropped by 1,205.57 points or 4.39 per cent in two weeks. The CNX 50-share Nifty also ended lower by 111.50 points or 1.38 per cent to more than 5-week low of 7,954.30. It had last ended at 7,950.90 on October 1, 2015. It has also dropped by 341.15 points or 4.11 per cent in two weeks.

“Market players remained glued to the developments in Bihar elections, which markets believe may be a catalyst to the investment mood of FPIs and FIIs in the near term,” said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.

Forex

The Indian rupee continued to fall against the American currency for the fourth straight week, dropping by 49 paise to close at nearly sixth week low at 65.76 per dollar on sustained dollar demand from banks and importers amidst continued fall in equity market. Persistent foreign capital outflows also affected the rupee value against the dollar, a forex dealer said. Foreign portfolio investors (FPIs) continued their selling pressure as they sold shares of net worth Rs 1,085.07 crores during the week as per the SEBI’s record, including the provisional figure of November 6.

The domestic currency resumed the week lower at 65.39 per dollar as against last weekend’s level of 65.27 at the Interbank Foreign Exchange (Forex) market and dropped further to 65.84 before closing at nearly sixth week low at 65.76 per dollar, showing a loss of 49 paise or 0.75 per cent. The rupee has tumbled by 102 paise or 1.58 per cent in four weeks.It had last ended at 65.96 on September 29, 2015. Globally, the euro finished the week just above a six month low reached after a blockbuster October jobs report.

The dollar rose against the euro and the yen as the US government bond yields rose to their highest levels in nearly seven weeks as investors have been lightening up on their bond holdings following the Fed’s signal a week ago that a rate increase before the end of this year remains on the table. The ICE US dollar index, a measure of the dollar’s strength against a basket of six currencies, was up 2.4 per cent to end the week at 99.1900, just below a six-month high.

In forward market, the premium for dollars recovered on paying pressure from banks and corporates. Forward dollar premium payable in April rose to 203-205 from last weekend’s level of 173-175 paise and far-forward contract maturing in October 2016 also moved up to 410-412 paise from 388-390 paise previously.

The RBI fixed the reference rate for the dollar at 65.7910 and the Euro at 71.5477 from last weekend’s level of 65.2231 and 71.6671 respectively. The rupee climbed against the pound to finish the week at 99.51 from last weekend’s level of 100.22 and strengthened further against the euro to 71.51 from 71.87 previously. The domestic unit also rose against the Japanese currency to close at 53.94 per 100 yen from last weekend’s level of 54.19.

A 16-year-old girl was allegedly raped by her teenaged neighbour in Surwyan area, police said here today.

The youth raped the girl when she had gone out for some work on Thursday evening, Station Officer Surendra Kumar Pandey said.

The victim brought the matter to the notice of her parents yesterday, following which an FIR was lodged, he said.

The girl has been sent for medical examination and efforts were being made to arrest the accused, Kumar added.

Countering the protests by writers and artistes against “rising intolerance”, Bollywood actor Anupam Kher today led a march to Rashtrapati Bhavan alleging that the “award-wapsi” campaign was to defame the country by projecting a “wrong” picture of the situation.

“India is a very tolerant country. Some people have coined the term ‘growing intolerance’. They are very few. Not every Indian thinks like that. We are secular people. We do not believe in pseudo-secularism, selective outrage or selective patriotism,” Kher, who is the spouse of BJP MP from Chandigarh Kirron Kher, told reporters.

“We had a meeting with a lot of writers, artistes, filmmakers and they also believe that there is no intolerance in the country… This march is a symbolic gesture on part of a lot of people over here who say India is one and free of intolerance,” the 60-year-old said.

Many filmmakers and artistes from the fraternity including Madhur Bhandarkar, Ashoke Pandit, Priyadarshan, Manoj Joshi, Abhijeet Bhattacharya and writer Madhu Kishwar joined the march to hand over a memorandum signed by more than 40 personalities including actress Raveena Tandon.

Bhandarkar, a National Award winner, alleged that those involved in the protest over intolerance had opposed Prime Minister Narendra Modi before he was elected, which raised questions about their intention.

“The projection that is happening for the past few days is very sad. The people who were against Modiji during elections are the same people who are coming out right now.

“The whole projection and narrative that is going abroad is wrong. It is a diverse country and of course there are incidents but we all condemn them. There is no two ways about it,” he said.

Kher asserted that they were not associated with any organisation or political party. “This march is led by Indians and for Indians.”

Film-maker Priyadarshan said the act of returning the awards is “childish”.

“People returning awards are doing a childish act. They should use the power of pen. Instances of intolerance have always been there. It is not something that happened yesterday. Shah Rukh Khan never said he is returning award,” Priyadarshan told PTI.

“They are respected people but behaving like school children,” Priyadarshan said.

He, however, disapproved of those critical of Khan who had said that there was extreme intolerance in the country.

At least 75 members of the intelligentsia have returned national or literary awards in an escalation of protests by writers, historians, filmmakers and scientists over “growing intolerance”, voicing fears that the country’s robust democracy might be “coming apart” in the current atmosphere.

The BJP-led government has dismissed the protest as “manufactured rebellion” and “politically” motivated.

Anupam Kher, while leading his ‘March for India’ campaign said that India is a “tolerant country” and nobody has the right to call it .

Mumbai, Bandra West- Asif Bashir a resident of Mahim was allegedly beaten up by cops and asked him to go Pakistan. The boy was also denied medical treatment at Bhabha Hospital who has suffered cuts and bruises all over his body. The authorities put forward a proposal that Asif will not complain against the cops but would make a statement that he was beaten up by the local public.

Asif along with his friend paid a visit to his Uncle who was admitted at Bahabha Hospital. After that he drove his motorbike to bandstand a popular place by the beach. As he was driving along with his friend just outside Salman Khan’s residence two drunkards were creating a scene and one them was almost hit by a car. So Asif got down from his bike and made he man sit by the side in case of any mishaps.

Unfortunately the drunkard got furious and started shouting. This happened just in front of Salman Khan’s residence so the cops on duty came to spot. The vehicle the cops used was a swift car and the police were in civil clothes. They got the two drunkards along with Asif and his friend to Bandra West Police station.

It may be noted that Asif is a gym goer and has a good physique. He had a scuffle with the police demanding why he was brought to the police station. In the process Alim pushed one of the cops who almost fell off nearby the bin.

This enraged the cops and the whole team of policemen started beating Asif. He has suffered with heavy injuries. In the heated argument the cops told him to go to Pakistan.

The cops informed Asif’s parents about his condition. They rushed o Bhabha Hospital. The incident now became viral with all he media people and political parties coming to he aide of Asif. Present among them was Faran Azmi leader of Samaj Wadi Party who demanded that PI Kedar Pawar be arrested and that Maharashtra Government should compensate the victim. AAP leader Preeti Menon Sharma have demanded justice to Asif and an apology from the police for making absurd statements like go to Pakistan to Asif. MIM party workers have pldeged not to leave unil an FIR is lodged against PI Kedar Pawar.