India’s benchmark stock index was headed for a record high Monday, with Reliance Industries contributing most to the gain on speculation the launch of its Jio feature phone will be a disrupter for the telecommunications industry.
The S&P BSE Sensex Index rose 0.6 per cent to 32,203.79 at 10:26am in Mumbai as Reliance advanced 2.1 per cent, poised to close at an all-time high. Software exporter Wipro climbed 1.8 per cent, adding to its biggest rally in four years Friday after the company said it plans to buy back shares, while drugmaker Lupin rose 1.3 per cent.
Foreign inflows have picked up pace as emerging markets continue to benefit from the US Federal Reserve’s paced interest-rate increases, while Indian savers are shifting more money to financial assets as prices of gold and property have moderated after the government’s ban on high-value currency notes. Indian shares have hit multiple records this year amid optimism about the prime minister Narendra Modi’s policies, with the economy expanding at about seven times the pace of Japan’s.
“It is the liquidity that is driving the market,” said Devam Modi, a research director at Equirus Securities. “India’s growth prospects and government efforts to improve fundamentals provides it an upside for investment. Inflows both domestic and foreign flows remain strong, which has stretched valuations. However, we aren’t in bubble territory.”
Reliance Jio Infocomm, the wireless unit of the billionaire Mukesh Ambani's retail-to-refining conglomerate will offer a data-enabled feature phone for 1,500 rupees (Dh84.48) starting August 15, he told shareholders in Mumbai on Friday. The handset, or JioPhone, will come with tariff plans as low as 23 rupees for two days or 153 rupees monthly. The unit will also start giving separate earnings statement from the quarter ending September along with the parent's results.
“The company has disrupted again by launch of 4G feature phone Jio aimed to capture the feature phone market,” Nitin Tiwari, said the analyst at Antique Stock Broking wrote in a note. “We expect launch of feature phones to increase Jio’s subscriber base faster than estimated earlier.”
CHELSEA SQUAD
Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku.
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
The Good Liar
Starring: Helen Mirren, Ian McKellen
Directed by: Bill Condon
Three out of five stars
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Summer special
