Nawaz Sharif files appeal after UK rejects visa extension

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New Delhi/Lahore, Aug 6 | After the UK’s Home Department refused to extend Nawaz Sharif’s stay in London on “medical grounds”, the former Pakistan Prime Minister filed an appeal at the British Immigration Tribunal in response, a media report said on Friday.

The decision of the Home Department prompted the incumbent Imran Khan government to offer the opposition Pakistan Muslim League-Nawaz (PML-N) supremo to arrange his return to Pakistan at a notice of 24 hours if he is willing, said the Dawn news report.

“The UK Home Department has refused to extend Sharif’s stay in the country any further on medical grounds. However, Sharif will legally remain in the UK till the tribunal issues its decision on his plea for his stay in the country,” PML-N information secretary Marriyum Aurangzeb told Dawn news on Thursday.

“Sharif has already filed an appeal with the British Immigration Tribunal challenging the Home Department’s decision. The UK Home Department’s decision will remain in effect till the tribunal arrives at a decision,” she added.

Dispelling an impression that Sharif had applied for asylum after refusal of his visa extension, Aurangzeb said: “This does not in any way amount to a political asylum and is only a request for an extension to his stay on medical grounds.”

She castigated the ruling Pakistan Tehreek-e-Insaf (PTI) ministers for doing politics on the health of Sharif.

“As long as the treatment of Sharif is not completed and doctors do not allow him travel he will remain in the UK,” she said.

The “rented spokespersons” of the “imposed regime” were doing politics onSharif, who had earlier returned to Pakistan leaving his ailing wife on deathbed, only to save their jobs, Aurenzeb further told Dawn news.

The passport of Sharif, who has been ‘absconding’ in London since November 2019 on medical treatment grounds, had expired in February this year.

The PTI government had declined a request for issuance of a new diplomatic passport to Sharif.

Interior Minister Sheikh Rashid Ahmed had already declared that Sharif’s passport would not be renewed as per “instructions from Prime Minister Imran Khan”.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered with modest gain against the resilient global cues. Throughout the week, Sensex traded in a narrow range following an uneven move. Sensex ended at 54884.66 gaining 558 points or 1.03 percent while Nifty settled at 16352.45 with 86 points or 0.53 percent on a weekly basis. While Banknifty ended at 35613.30 levels with strong bounce with an upside of 3.90 percent in a week.

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INDIA VIX has cooled off during the week with 7.01 percent and has settled at 21.48 levels. Investors and traders may watch out key events such as the RBI meet in the second week as well as the US Fed meeting likely to be on 14-15 June for monthly expiry. As corporate results are likely to end soon stocks would expect less volatility in upcoming days. In Nifty stocks, HDFCLIFE gained 9.61 percent while DIVISLAB shed 18.41 percent in a week. Sectorally Nifty Finance saw the highest gains of 4.32 percent followed by the Nifty Auto with 3.26 percent. On the flip side Nifty Pharma, Energy, Realty and PSE lose more than 3 percent each on a weekly basis. However Midcap gained 0.77 percent while Smal lcap dropped by 3.42 percent.

Technically, Nifty has formed a bullish candle on the weekly chart with a long tail suggesting strong support around 15900 levels, while on the upside 16800 may act as strong resistance. Index has taken support from the previous horizontal line & closed above 21-days Simple Moving Averages that indicates further pullback rally in the near term.

Indicators such as RSI remained in the neutral zone while MACD suggest some positive cross over observed in daily time frame suggest some sign of reversal. Coming to the OI Data, on the call side the highest OI witnessed was 16500 followed by 16800 strike prices while on the put side, the highest OI was at 16000 strike price. Overall, Nifty is having support at 16000 mark while on the upside 16500 followed by 16750 may act as an immediate resistance. While Bank nifty has support around 34300 while resistance is placed at 36800 on weekly chart.

Om Mehera
Research Associates
Choices Broking

Souce: Choice India

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