Cherian Phillip is welcome to return home, says top Cong leader

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Thiruvananthapuram, Oct 21 | Estranged former top Congress leader Cherian Phillip, who has openly criticised Chief Minister Pinarayi Vijayan- his biggest supporter since he left the Congress and became a fellow traveller of the CPI-M in 2001- on Thursday got the first green signal that he is welcome to return to the grand-old party.

Incidentally, the first call to the 67-year-old Phillip, a bachelor, came from Lok Sabha member K.Muraleedharan- son of K. Karunakaran, who defeated Phillip at the 2011 Assembly elections.

“He is definitely welcome to return to the Congress, but for that, it’s him who has to take a call. I know him for long and even though we contested against each other in the 2011 polls, we know that he is a real Congressman. So let him make the first move and if he is willing, he will be definitely welcomed, said Muraleedharan.

Now all eyes are on a function where Phillip is to be presented with an award for his social commitment to be presented by two-time former Congress Chief Minister Oommen Chandy on October 25.

Incidentally, way back in 2001, on being denied a ticket by Chandy who ran the affairs of the Antony faction, Phillip revolted and quit the Congress, only to be fielded by the CPI-M against the former in the 2001 Assembly polls.

It was an easy win for Chandy at his home turf in Puthupally in Kottayam district.

The relation between Vijayan and Phillip turned sour in April this year amid speculations that he will be nominated for the Rajya Sabha.

But, for the first time the Chief Minister failed to support him and instead, backed his closest aides John Brittas- who headed the Kairali TV and V. Sivadasan who was handling the party’s social media operations- and both were elected to the upper house.

Since then, Phillip started distancing himself from Vijayan and he refused the post of the vice-chairman of the Kerala Khadi Board, offered to him. Recently, he took potshots at Vijayan for failing to rise to the occasion after the recent floods hit the state.

Asked about Phillip drifting away from the CPI-M, the senior Left leader was, however, guarded in his response.

Meanwhile, on Thursday, Phillip shared a post in Facebook that he will be launching his own You Tube channel from January and airing his frank opinion on issues.

So, the ball is now in his court and one will have to wait and watch which way he is going to kick it.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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