Pakistan police laments govt surrender to TLP

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New Delhi, Oct 26 | The police in Pakistan’s Punjab province has resented the federal governments decision to once again go soft on the proscribed Tehreek-i-Labbaik Pakistan (TLP) by announcing the release of hundreds of its workers and withdrawing cases against others, Dawn news reported.

Police sources said their personnel sacrificed lives and were wounded while performing duties during violent protests by the TLP, but each time the government reconciled with the group, disregarding how police have been attacked and injured with petrol bombs, clubs and bricks, their vehicles set on fire, weapons and other gear snatched.

This is besides the damage inflicted on public property, the report said.

The law enforcement agency was reacting to Pakistan Interior Minister Sheikh Rashid’s statement that the government had released “350 TLP workers up to now and we are still waiting to open both sides of road of Muridke as per the decision with the TLP”.

The Minister had also promised to review the Fourth Schedule list containing names of the proscribed leaders and activists besides withdrawing all previous cases lodged against them.

A dejected deputy inspector general-rank officer blamed the ruling elite for pushing the police against the wall, and suggested: “The government would have to stand with either the law enforcers or the TLP. Its decision to release hundreds of TLP men under an immediate agreement has ignored the sacrifices policemen rendered and lives they lost during violent agitation of the organisation.”

Since Sunday, the police has registered 40 cases against top leaders, 5,000 Fourth Schedulers and hardcore activists of the TLP under terrorism and multiple other charges.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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