Month: May 2018

Shariah Compliant Mutual Funds

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There are only 2 Shariah compliant mutual fund schemes in India, Tata Ethical Fund and Taurus Ethical Fund

 

What makes them Shariah based

Most primary thing that makes them Shariah based is they follow a Shariah stock index S&P Shariah or CNX Shariah). What this index is and what stocks it contains will be a separate discussion. Some of its characteristic:

  1. Investing in islamically legal business companies.
  2. Debt is not high.
  3. Interest income is very low.
Other characteristic:
  1. Long term investment.
  2. No short-selling or day trading which is same as betting.
  3. No liquid investment in interest bearing components.
  4. No lending of MF assets.
  5. No investment in other mutual funds.
  6. No investment in any derivatives.

Fund Details

These are equity funds but no tax saving. There is no entry load; no exit load if withdrawn after a year; trail commission 1.5 to 2.5%.
Performance is good enough for long term.

Tata Ethical Fund:

This fund invests in stocks based on the CNX Shariah 500 Index. As a result, it suffers from the same problem as that of Tauras Ethical Fund. However, it does one thing important: Purification.
Once the Mutual Fund has earned profit, it calculates any non-legal income from Interest and donates to charity and you only get the actual profit.
Because of this am tempted to say that this could be the only halal MF. Only thing am not sure how they deal with stocks of companies that have taken loans.

Tauras Ethical Fund:

It invest based on stocks as present in S&P BSE 500 Shariah index. If you consider the S&P Shariah index to be 100% halal, then this fund will be fine. However, the index definitely contains stocks of companies that have upto 30% debt or 5% interest income and the fund does nothing about it. All this is clearly mentioned in the Scheme Information Document. And this is the problem with the fund.

Fund Performance:

It is important to also see if your investment is giving your profit or loss. Else you would be better off not investing at all.
Performance of all 3 Funds is below average compared to other Equity Funds.
They are not making loss but the profit is very small about 10-13% over 3 years. This obviously is far less than inflation. But this is the state of most halal investments; the returns are very less.
Perhaps this is the test of Allah, most haram investments will give excellent returns.

Concluding Notes

  • If you are determined to invest in MF then Tata Ethical Fund can be considered.

 

  • Goldman Sachs CNX Nifty Shariah Index Exchange Traded Fund itself truthfully declares that although they follow a Shariah based stock index they are not completely shariah compliant. This can be found in its Scheme Information Document.

 

For more Details visit their official website

Tata Ethical Mutual Fund: http://www.tatamutualfund.com/our-funds/equity/sectoral/tata-ethical-fund

Tauras Ethical Fund:  https://www.taurusmutualfund.com/OurSchemes/taurus_ethical_fund.html

Mutual Funds

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Buying shares in mutual funds can be intimidating for beginning investors. There is a huge amount of funds available, all with different investment strategies and asset groups. Trading shares in mutual funds is different than trading shares in stocks or exchange-traded funds (ETFs). The fees charged for mutual funds can be complicated. Understanding these fees is important since they have a large impact on the performance of investments in a fund. The following is a guide to help get a new investor up to speed on the basics of trading mutual funds.

What Are Mutual Funds?

A mutual fund is an investment company that takes money from many investors and pools it together in one large pot. The professional manager for the fund invests the money in different types of assets including stocks, bonds, commodities and even real estate. An investor buys shares in the mutual fund. These shares represent an ownership interest in a portion of the assets owned by the fund. Mutual funds are designed for longer-term investors and are not meant to be traded frequently due to their fee structures.

Mutual funds are often attractive to investors because they are widely diversified. Diversification helps to minimize risk to an investment. Rather than having to research and make an individual decision as to each type of asset to include in a portfolio, mutual funds offer a single comprehensive investment vehicle. Some mutual funds can have thousands of different holdings. Mutual funds are also very liquid. It is easy to buy and redeem shares in mutual funds.

There is a wide variety of mutual funds to consider. A few of the major fund types are bond funds, stock funds, balanced funds and index funds. Bond funds hold fixed-income securities as assets. These bonds pay regular interest to their holders. The mutual fund makes distributions to mutual fund holders of this interest.

Stock funds make investments in the shares of different companies. Stock funds seek to profit mainly by the appreciation of the shares over time, as well as dividend payments. Stock funds often have a strategy of investing in companies based on their market capitalization. Market capitalization is the total dollar value of a company’s outstanding shares. For example, large-cap stocks are defined as those with market caps over $10 billion. Stock funds may specialize in large-, mid-or small-cap stocks. Small-cap funds tend to have higher volatility than large-cap funds.

Balanced funds hold a mix of bonds and stocks. The distribution among stocks and bonds in these funds varies depending on the fund’s strategy. Index funds track the performance of an index such as the S&P 500. These funds are passively managed. They hold similar assets to the index being tracked. Fees for these types of funds are lower due to infrequent turnover in assets and passive management.

Some popular objectives of a mutual fund are –

Fund Objective What the fund will invest in
Equity (Growth) Only in stocks
Debt (Income) Only in fixed-income securities
Money Market (including Gilt) In short-term money market instruments (including government securities)
Balanced Partly in stocks and partly in fixed-income securities, in order to maintain a ‘balance’ in returns and risk

Managed by an Asset Management Company (AMC)

The company that puts together a mutual fund is called an AMC. An AMC may have several mutual fund schemes with similar or varied investment objectives.

 

The AMC hires a professional money manager, who buys and sells securities in line with the fund’s stated objective.

All AMCs Regulated by SEBI, Funds governed by Board of Directors

The Securities and Exchange Board of India (SEBI) mutual fund regulations require that the fund’s objectives are clearly spelt out in the prospectus.

In addition, every mutual fund has a board of directors that is supposed to represent the shareholders’ interests, rather than the AMC’s.

Basic of MF

Net Asset Value or NAV

NAV is the total asset value (net of expenses) per unit of the fund and is calculated by the AMC at the end of every business day.

How is NAV calculated?

The value of all the securities in the portfolio in calculated daily. From this, all expenses are deducted and the resultant value divided by the number of units in the fund is the fund’s NAV.

Expense Ratio

AMCs charge an annual fee, or expense ratio that covers administrative expenses, salaries, advertising expenses, brokerage fee, etc. A 1.5% expense ratio means the AMC charges Rs1.50 for every Rs100 in assets under management.

A fund’s expense ratio is typically to the size of the funds under management and not to the returns earned. Normally, the costs of running a fund grow slower than the growth in the fund size – so, the more assets in the fund, the lower should be its expense ratio.

Load

Some AMCs have sales charges, or loads, on their funds (entry load and/or exit load) to compensate for distribution costs. Funds that can be purchased without a sales charge are called no-load funds.

Open- and Close-Ended Funds

1) Open-Ended Funds

At any time during the scheme period, investors can enter and exit the fund scheme (by buying/ selling fund units) at its NAV (net of any load charge). Increasingly, AMCs are issuing mostly open-ended funds.

2) Close-Ended Funds

Redemption can take place only after the period of the scheme is over. However, close-ended funds are listed on the stock exchanges and investors can buy/ sell units in the secondary market (there is no load).

Important documents

Two key documents that highlight the fund’s strategy and performance are 1) the prospectus (legal document) and the shareholder reports (normally quarterly).

Why invest through Mutual Funds?

Professional Money Management

Fund managers are responsible for implementing a consistent investment strategy that reflects the goals of the fund. Fund managers monitor market and economic trends and analyze securities in order to make informed investment decisions.

Diversification

Diversification is one of the best ways to reduce risk (to understand why, read The need to Diversify). Mutual funds offer investors an opportunity to diversify across assets depending on their investment needs.

Liquidity

Investors can sell their mutual fund units on any business day and receive the current market value on their investments within a short time period (normally three- to five-days).

Affordability

The minimum initial investment for a mutual fund is fairly low for most funds (as low as Rs500 for some schemes).

Convenience

Most private sector funds provide you the convenience of periodic purchase plans, automatic withdrawal plans and the automatic reinvestment of interest and dividends.

Mutual funds also provide you with detailed reports and statements that make record-keeping simple. You can easily monitor the performance of your mutual funds simply by reviewing the business pages of most newspapers or by using our Mutual Funds section.

Flexibility and variety

You can pick from conservative, blue-chip stock funds, sectoral funds, funds that aim to provide income with modest growth or those that take big risks in the search for returns. You can even buy balanced funds, or those that combine stocks and bonds in the same fund.

Tax benefits on Investment in Mutual Funds

1) 100% Income Tax exemption on all Mutual Fund dividends

 

2) Equity Funds – Short term capital gains is taxed at 15%. Long term capital gains is not applicable.
Debt Funds – Short term capital gains is taxed as per the slab rates applicable to you. Long term capital gains tax to be lower of – 10% on the capital gains without factoring indexation benefit and 20% on the capital gains after factoring indexation benefit.

 

3) Open-end funds with equity exposure of more than 65% (Revised from 50% to 65% in Budget 2006) are exempt from the payment of dividend tax for a period of 3 years from 1999-2000.

 

Note: Equity Funds are those where the investible funds are invested in equity shares in domestic companies to the extent of more than 65% of the total proceeds of such funds.

 

By now you would have realized that investing in mutual funds is not just a decision but is more a process.

 

Mutual Fund Investing Checklist

Using the checklist below should help you to extract the most from your mutual fund investment process. We assume that you will be investing largely through mutual funds to meet your targeted asset allocation plan.

1. Draw up your asset allocation

You can use moneycontrol’s Asset Allocator for this. Take a printout of your suggested asset allocation plan so that you can use that to plan your investments across mutual funds.

2. Identify funds that fall into your Buy List

How do you do this? Simple. Just go to Find-A-Fund and run a query specifying the parameters you are seeking.

3. Obtain and read the offer documents

You could do this by either asking your broker or the asset management companies. You might also find some of these documents if you go to our Request-A-Form service.

4. Match your objectives

Read through the offer documents and check to see whether the mutual funds identified meet your investment needs in terms of equity share and bond weightings, downside risk protection, tax benefits offered, dividend payout policy, sector focus and other parameters of relevance to you. For ease in short listing, you can use our Find-A-Fund query module.

5. Check out past performance

Make sure you do this. There is no other indicator that you can use as effectively to select funds for investment. Yet again (we won’t tire of saying this), for ease you can use our Find-A-Fund query module to find out your selected funds’ performance over various time periods.

6. Don’t forget the index funds

Index funds offer you probably the ideal hedge against varying performance across sectors and across fund managers over longer-periods of time.  moneycontrol recommends that you have atleast some part of your assets in index mutual funds (you would have seen this in your recommended asset allocation plan also if you have used moneycontrol’s Asset Allocator).

7. Think hard about investing in sector funds

Investing in specific sector funds is recommended for aggressive investors. However, if you are not in close touch with the developments in the sector or do not review your portfolio regularly, we would not recommend investing in sector funds.

8. Look for `load’ costs

Management fees, annual expenses of the fund and sales loads can take away a significant portion of your returns. As a general rule, 1% towards management fees and 0.6% towards annual expenses should be acceptable. Try and avoid funds that have a sales load, unless of course they have a consistent track record of being a top-performer.

9. Does the fund change fund managers often?

Since you will be giving past track record a consideration, you are inadvertently relying on the continuity of the fund manager. Stay away from mutual funds whose fund managers change often.

10. Look for size and credentials

As far as possible avoid investing in funds with an asset base of less than Rs25 crores. Which means that we are recommending you invest in funds only after they have established a track record. And unless it is a really exciting new (theme) fund that fits into your asset allocation plan, try and avoid new funds.

11. Customer Service

Check out the customer service delivery mechanism of the mutual fund you choose. Can you get in touch with them easily? How long do they take to disburse payments? How often do they send you portfolio updates? And investor newsletters? These questions are important to address because shortcomings on any of these factors could affect your overall returns.

12. Diversify, but not too much

Do not hold just one fund in each asset category. Its good to diversify your risk between different funds, but do not overdo it. moneycontrol recommends two, or maybe three funds in each asset category.

13. Style, not returns matter first in the long-term

Don’t let a top performing fund veer you away from a disciplined approach. Stick to your chosen asset allocation plan.

14. Monitor regularly and review

Try to review your mutual fund holdings atleast once a quarter. If you follow the same principles to review as you did to identify the mutual funds you invested in, you will be able to take `sell decisions’ very easily. You can read more about this approach by clicking

 Invest Monitor and Review.

Having made an investment in a mutual fund, you should monitor it to see whether its management and performance is in line with stated objectives and also whether its performance exceeds or lags your expectations. Unlike individual stocks and bonds, mutual fund reviews are required less frequently, once in a quarter should be sufficient.

 

A review of the fund’s performance should be carried out with the objective of holding or selling your investment in the mutual fund. You might need to sell your investment in a mutual fund if any of the events below apply –

You change your investment plan.

For example, as you grow older you might adopt a more conservative investment approach, pruning some of your riskier (equity-oriented) funds.

A fund changes its strategy.

A fund that alters its investment objective or approach might no longer fit your strategy.

The fund’s poor results persist.

If a fund regularly trails other funds that invest in similar securities, consider replacing it. The poor performance is more often than not a reflection on the relative expertise of the asset management company.

15. Invest regularly, choose the MIP

Try to make mutual fund investing an integral part of your savings and wealth-building plan. The monthly investment plan option offered by some mutual funds is a strongly recommended approach for you to execute this process . However, don’t let the availability of this option override your fund selection criteria.

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Shariah Compliant Mutual Funds in India

Nipah Virus (NiV)

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Introduction 

Scientific name: Nipah virus
Rank: Species
Higher classification: Henipavirus

Nipah virus infection gets its name from the village in Malaysia where the person from whom the virus was first isolated succumbed to the disease. Nipah Virus is an emerging infectious disease that broke out in Malaysia and Singapore in 1998 and 1999. It first appeared in domestic pigs and has been found among several species of domestic animals including dogs, cats, goats, horses and sheep. The infection is also known to affect human beings. The organism which causes Nipah Virus encephalitis is an RNA or Ribonucleic acid virus of the family Paramyxoviridae, genus Henipavirus, and is closely related to Hendra virus.

Throughout the history of the world humans have been plagued by diseases of various types and origins. Zoonotic diseases, or diseases which have the capability to jump species, animals to humans or vice versa, have been particularly troublesome and deadly. Zoonotic diseases are unique in that they are mainly caused by pathogens such as fungi, bacteria, parasites, or viruses. These pathogens typically survive in a reservoir host, which have immunity to the pathogen. The list of possible reservoir hosts capable of transmitting disease to humans is expansive; however the most common are apes, insects, rodents, and bats. The diseases are then passed to humans who come in contact with an infected animal through bites or scratches, an infected animal’s environment, or animal secretions such as saliva, feces, or mucus. Often these diseases have a higher virulence because of the lack of any immunity within the human population and the ease of transmission. Some more infamous zoonotic diseases are West Nile, Rabies, Ebola, and Dengue fever. As of recent, more and more zoonotic diseases are emerging because of an increase in human and wildlife interaction. An increase in farming and or deforestation has resulted in humans and wildlife into the same habitat. A prime example of this is the emergence of the Nipah virus (NiV). NiV is a member of the Henipavirus genus in the Paramyxoviridae, and has become a growing concern of Southeast Asia and Australia. Nipah virus is also a growing concern for the United States. The Center of Disease Control (CDC) has declared it a biosafety level 4 agent 6. This the highest biosafety level category, home to agents which can be distributed via aerosol transmission and have no treatment or vaccine. Similar biosafety level 4 agents are Ebola, Smallpox, and several hemorrhagic diseases. The CDC has also tagged the Nipah virus a Category C bioagent, the third highest priority agent category in regards to biological warfare 6. The availability, simplicity to produce and disperse, and high mortality rate of the Nipah virus make it possible for it to be used as a weapon of biological warfare.

MORPHOLOGY OF NiV

FIGURE 2: General structure of a Henipavirus. The six key proteins, P, N, F, G, M, and L, are shown in their natural position and labeled. In the center of the virion is the negative sense single stranded RNA, covered by orange N proteins. The P proteins are pink, the F proteins are grey spikes, G proteins are blue spikes, M proteins are red circles, and L proteins are green. (Rockx et al. 2012)

Nipah virus is in the newly created Henipavirus genus with the closely related Hendra virus and Cedar virus. The Henipavirus family is pleomorphic, meaning their shape is varied, and traditionally 40 to 600 nm in diameter. The core of a virion contains a linear ribonucleprotein (RNP) comprising of negative sense single stranded RNA [FIGURE 2]. Also present in the RNP are three critically important proteins [FIGURE 2]. Nucelocapsid proteins (N) are tighly bound to the various nucleotides of the RNA strand [FIGURE 2]. N protein is the most abundant protein present and necessary for capsid structure. Phosphoproteins (P) and large polymerase proteins (L) are also bound to the RNA and aid RNA polymerase in transcribing RNA to mRNA to antigenomic RNA [FIGURE 2]. The virion is enveloped by a traditional lipid bilayer but “spiked” with fusion (F) and receptor-binding glycoproteins (G) [FIGURE 2]. The fusion proteins are responsible for fusing the viral membrane to the host membrane triggering the release of the contents of the virion. The receptor-binding glycoporteins are extremely specific and bind only to Ephrin B2 (EFNB2) surface proteins9. Specifically, NiV has been found to alternatively bind to EFB3 as well. The EFNB2 surface proteins are highly conserved across the mammalian lineage 9. On the underside of the lipid bilayer matrix proteins (M) are present for structural support and regulating the budding process. Other proteins, C, V, and W, are also present in the cytoplasm and involved in regulation of transcription and replication [FIGURE 2]. In regards to the Nipah virus genome, the exact structure is not completely understood. However because of the strong homology between Hendra virus and Nipah virus, a nearly identical structure is hypothesized. The negative sense single stranded RNA is of traditional 3’ to 5’ orientation. All the previously mentioned proteins are encoded by the RNA in the order of 3’-N-P-M-F-G-L- 5’12. Similar to all paramyxoviruses NiV RNA replication occurs in the cyptoplasm. All but the P gene are monocystronic, in that they code for a single protein. The P gene also encoded for the C, V, and W proteins which play a role in the virulence of NiV. Interferons are released by host cells when under attack by a pathogen which enables intercellular communication. The intercellular communication is necessary for the triggering of immune cells which get rid of the pathogen. C, V, and W proteins, encoded by the P gene, have anti-interferon activity in that they block the transcription of interferon signalling. The process by which C, V, and W proteins block the signalling is still unknown.

Cellular morphology of NiV M-expressing cells is dependent on YPLGVG. COS-1 cells were transfected with WT, P93A, or Δ92–97 NiV M plasmids and treated as described in Fig. 3B and the Methods except MAb F45G5 (anti-NiV M) was used, and cells were visualized by fluorescent microscopy.
Cellular morphology of NiV M-expressing cells is dependent on YPLGVG. COS-1 cells were transfected with WT, P93A, or Δ92–97 NiV M plasmids and treated as described in Fig. 3B and the Methods except MAb F45G5 (anti-NiV M) was used, and cells were visualized by fluorescent microscopy.

 

https://www.youtube.com/watch?v=3-DGQA8eKtc

NiV OUTBREAK HISTORY

The initial outbreak of encephalitis, later discovered to be a result of NiV, and first epicenter occurred in September of 1998 in several pig farms in a small town called Ipoh in northern Malaysia 13. NiV is thought to have been transmitted through southern Malaysia by the transference of infected pigs to a second epicenter located around Kampung Sungai Nipah 13. By more transport of infected pigs, as well as human-human transmission, NiV quickly spread into Singapore. This outbreak resulted in 276 infected patients with 106 deaths, a fatality rate of 38% 13. The main transmission of this outbreak is thought to be from the reservoir host to an intermediate host, to humans. This outbreak also resulted in a huge death rate of the pig population in Malaysia and Singapore. Since the outbreak in 1998, a dozen outbreaks have since occurred in Bangladesh and India starting in 2001 13. These outbreaks have resulted in more respiratory disease and a fatality rate of up to 92% which have lead scientists to suspect a different strand of Nipah virus as the culprit 13. The transmission is thought to be directly from the reservoir host to humans, along with a higher human to human transmission rate. The most recent outbreak occurred in early February of 2013, resulting in 12 infections and 10 deaths. Overall in Bangladesh, there have now been 188 infections with 146 deaths with a fatality rate of 77% 4.

OVERVIEW OF NiV TRANSMISSION

As previously stated, zoonotic diseases are spread from animals to humans via a reservoir host. However there can also be an intermediate host, in which the virus amplifies itself. However this intermediate host is not immune to the disease. Through analysis of urine and saliva collected from a suspected reservoir host from the original outbreak in Malaysia, the reservoir host has been identified as the Pteropus fruit bat . NiV infection has been found in 5 of 14 fruit bat species, with the highest being Pteropus hypomelanus with a 31% infection rate 9. Despite having a relatively high infection rate, the species of Pteropus fruit bats are not susceptible to the virus. The virus is primarily transmitted via body secretions or partially eaten fruit. Pigs have been found to be particularly susceptible to NiV as well as highly contagious to each other. Pigs have been identified as an intermediate and an amplifying host. An amplifying host is defined as a host in which the pathogen can become so prevalent a vector, such as a mosquito, can become infectious. Pigs transmit NiV differently than bats in that they shed the virus primarily by coughing and the expulsion of respiratory secretions and saliva. NiV has not been isolated in pig urine. Pigs are primarily infected directly from Pteropus fruit bats or other pigs. Humans have been found to be infected by three different pathways, Pteropus fruit bat to human, pig to human, and or human to human. Most recent transmission of NiV has been a result of human to human transmission through close contact through respiratory secretions or urine. Although not completely understood, the molecular mechanism of Nipah virus transmission is hypothesized to be by fomites. Fomites are non-living objects which are able to carry infectious material like vectors. Currently this is the main hypothesis because of the increased number of NiV infections being picked up in hospitals. It is unknown how long the virus can survive outside a host. Because of the heavy prevalence of virus transmission via respiratory secretions it is assumed the main site of replication occurs in the tonsils of an infected host 6. This is supported by research done in the transmission of NiV in hamsters. de Wit et al (2011) observed viral shedding of hamsters inoculated with three different doses of varied strength of NiV [FIGURE 3]. The researchers then examined varied forms of shedding of the virus nasally, oropharyngeally, urogenitally, and rectally. The results show, regardless of the dosing, all three dosages resulted in positive viral loads in the oropharyngeal region as soon as two days post inoculation 3 [FIGURE 3]. The fact that the reservoir and intermediate hosts are Pteropus fruit bats and pigs, respectively, is a primary concern for researchers. Pteropus fruit bats are a migratory species capable of flying long distances. Pigs are also a primary export of Southeast Asia as well as a popular farm animal in the same region. The combination of these two key aspects of the Pteropus fruit bat and pigs makes the transmission of the Nipah virus to other parts of the world extremely easy. NiV infections have also been identified in cats, dogs, and horses 9.

 

 

FIGURE 3: Data collected in observing the shedding of Nipah virus RNA in inoculated hamsters. Black bars indicate smallest dosage, grey bars was the middle range dosage, white bars was the highest dosage. All differences from days post inoculation were significant. Swabs were taken oropharyngenally. de Wit et al. 2012 http://www.plosntds.org/article/info%3Adoi%2F10.1371%2Fjournal.pntd.0001432

 

 

MALAYSIA/SINGAPORE OUTBREAK TRANSMISSION OF NiV

 It is believed the transmission from the Pteropus fruit bats to an intermediate host is due to a growing overlap in habitats between the two species [FIGURE 5]. Malaysia is home to a large number of both pig farms and fruit orchards, often located relatively close to each other. The close proximately is thought to have allowed Pteropus fruit bat urine, feces, and or infected fruit to drop onto the pigs or into their habitat. It was speculated pigs had become an amplifying intermediate host because of the enormous death toll in the pig population as well as a majority of the humans infected had a large amount of contact with pigs. In the years after the outbreak NiV antibodies were identified in pig populations in Malaysia. As stated above, a large majority of humans infected had direct contact with pigs. The virus was also able to spread from farm to farm through transportation of unidentified infected pigs. Most likely the workers whom were infected can in direct contact with saliva or other respiratory secretions from an infected pig.13

BANGLADESH/INDIA OUTBREAK TRANSMISSION OF NiV

 Because of the variation in the effect and fatality rate of the Nipah virus outbreak in Bangladesh and India [FIGURE 5], a slightly altered transmission path is suggested. It is suggested a more direct path was taken from the reservoir host, Pteropusfruit bats, directly to humans. The large consumption of date palm sap by humans is looked to be where the virus was picked up. Pteropus fruit bats feed heavily on date palm trees, licking the sap which contaminated the sap. Improper cooking of the sap resulted in humans ingesting the infected sap. A second mode of transmission is through contact with infected Ptreopusfruit bat feces, urine, or saliva. Although human to human transmission had not been suggested in the Malaysia/Singapore outbreak, it is believed to have been extremely prevalent. It is believed nosocomial transmission, passing of a pathogen in a hospital setting due to improper hygienic/sterilization methods, was the causation in up to 75% of cases 10. Data collected from various hospitals in Bangladesh and India where patients infected with NiV were treated showed a high amount of NiV RNA on hospital surfaces.

REPRODUCTION OF PARAMYXOVIRUSES

As previously discussed, it is hypothesized there are many models of transmission of Nipah virus from species to species. It can also be assumed, because NiV is a paramyxovirus it acts very similar to other viruses within the family, the reproduction mechanism is very similar to influenza. The virion binds and fuses to the surface of a host cell via the F and G proteins. The lipid bi-layers are then melted and the viral nucleocapsid is released into the host cell. The negative sense viral RNA is transcribed to mRNA which acts as a template for more negative sense viral RNA. The viral RNA is used to make the necessary proteins (N,P,M,F,G,L,C,V,W) which congregate near the cell membrane. Once all the necessary proteins are assembled a new viral cell will bud off and infect other host cells [FIGURE 6]. The new viral cells are able to fuse together and create a huge multinucleated cell called syncytia [FIGURE 6]. A major different between the reproduction of paramyxoviruses and influenza is paramyxovirues are strictly reproduced in the cytoplasm.

PATHOLOGY

FIGURE 6: Cultured Nipah virus. The small arrows indicate the nucleocapsids and the large arrow heads indicate budding virions developing from the cell. Picture scale is 2um. This picture was taken courtesy of Dr. K.B Chua for the use of W.K. Thong in his thesis for the University of Malaya. (Thong 2008)http://dspace.fsktm.um.edu.my/bitstream/1812/591/1/Thesis%20Full%20090711.pdf

Broadly, the Nipah virus causes a multitude of problems within the infected host. However NiV presents itself in a varied set of symptoms depending on the infected species. In general the main mode of dissemination with each host, regardless of species, is by inducing syncytial cell formation [FIGURE 6]. These large multinucleated cells then spread rapidly through the vascular tissue of the infected host. Incubation time in pigs varies but is usually short between 2 and 10 days. The Nipah virus primarily attacks the respiratory system, which is supported by the finding of high concentrations of viral antigens are found in the respiratory tract and lung epithelium 2. Pigs infected with NiV have shown to have an acute fever with symptoms of a respiratory infection which produces a “barking cough”. This “barking cough” has been identified as a telltale sign of Niv infection in pigs. Niv infection also produces signs of nervousness, twitching and trembling, hemorrhaging, and lesions in both the brain and lungs. Although very virulent and contagious among pigs, the mortality rate is very low at roughly 1-5% 2. Unlike Nipah virus infection in pigs, human infection is particularly encephalitic. The onset of a fever after and incubation period as short as two days or as long as a month is the first sign of infection. Common signs of a viral infection such as headache and drowsiness occurred along with the fever. Doctors are able to distinguish a Nipah viral infection by the distinctive symptoms of encephalitis, vasculities, neurological deficits due to necrosis, thrombosis, and ischemia 13. The cerebrospinal fluid is also heavily impacted with an increase of proteins and dead cells present. The heavy encephalitic nature of NiV infection in humans also results in brain lesions, often times causing a relapse of encephalitis in patients who had recovered from NiV infection. Humans infected with NiV have a much higher fatality rate ranging from 40% to 75% depending on the location of the infection 12.

DETECTION AND TREATMENT OF NiV

There has yet to be a standard protocol in detecting Nipah viral infections but the most common process used currently is virus isolation from tissue samples. In all species NiV can be detected and isolated from the kidneys, cerebrospinal fluid, and the liver. Polymerase chain reaction, enzyme-linked immunosorbent, and immunofluorescence assays are also viable detection strategies 14. Currently there are no vaccines or drugs which can cure or treat a NiV infection. The primary approach is to treat the symptoms as best as possible in hope to control the infection. Creating a vaccine is currently extremely difficult because the mutation rate of RNA viruses is extremely high as is most zoonotic diseases, of which Nipah virus is both 9. However several studies have been conducted in targeting the F and G proteins which would inhibit binding of the NiV cells to any host cell 9.

CONCLUSION: THE FUTURE OF NiV

Several steps have been taken in the right direction towards eradicating this extremely harmful disease. After the initial outbreak of Nipah virus in 1998, the Malaysian and Singaporean governments developed a two phase plan in hope to control any future outbreak. Phase one was set to eliminate a majority of the pigs present within the country. Phase two introduced an antibody testing protocol to regulate and observe farms which may be of high risk for an outbreak 7. Both countries also banned the transportation of pigs within the respective countries as well as initiated an educational program to aid the farms in proper handling and the virus itself. As previously stated some initial ground work has also been laid in identifying a possible vaccine which inhibits the activity of F and G proteins on the viral cell 9. Despite these positive steps, Nipah virus should be at the top of the list of major concerns for the human race for several reasons:
1.) Increased human to human transmission in recent outbreaks: Transmission of NiV has now become a concern in many hospitals in Southeast Asia. There have been several cases of doctors becoming infected from treating patients as well as infections resulting from contact with corpses. The more recent outbreaks in Bangladesh and India are suggested to have an estimated 75% or more of the known infections resulting from humans to humans transmission. The main mode of transmission from human to human is hypothesized to be through respiratory secretions and close contact. This mutated strain of NiV has the potential to be extremely detrimental in densely populated cities.
2.) Rising fatality rate in humans: The most recent outbreak in Bangladesh in February of 2013 resulted in increasing the overall fatality rate of Nipah virus infection in Bangladesh to 77% 4.
3.) Lack of knowledge of molecular mechanisms of infection: The molecular mechanisms of how the virus is passed from species to species are still fairly unknown.
4.) Shared habitats: With a rapidly growing human population in the world, particularly in Southeast Asia, there is an increase of overlapping of habitats between humans, pteropus fruit bats, and pigs. This only increases the chance of transmission of NiV between the species as well as the risk of more outbreaks.
5.) Pteropus fruit bat migration and pig dependence: Pteropus fruit bats are migratory animals which can survive in a wide range of environment, while much of rural Southeast Asia is dependent on their pig farms as a source of income and food. The combination of these two aspects opens up many pathways to many new countries and new populations of humans with no previous exposure to NiV.
6.) NiV is an RNA virus and a zoonotic virus: RNA viruses have a high mutation rate which enables them to keep a leg up on both vaccines and host immune systems. Zoonotic viruses also have a high mutation rate. Because NiV is both of these, it is hypothesized it has an extremely high rate of mutation.

 

 

For More Details Read a link Below

  1. http://jvi.asm.org/content/87/6/3284.full
  2. https://www.sciencedirect.com/science/article/pii/B9780124051911000119
  3. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3832692/
  4. https://en.wikipedia.org/wiki/Henipavirus
  5. https://www.ukessays.com/essays/english-language/nipah-virus-and-potential-for-bioterrorism.php
  6. https://microbewiki.kenyon.edu/index.php/Nipah_Virus

Robot Assisted Partial Nephrectomy

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https://www.facebook.com/nextobserver/videos/875960365922184/

This procedure is used to remove a kidney tumour from within the kidney, leaving the whole kidney in place.

 

 

eSight- Glasses for the Blind

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These glasses help legally blind people see!

These glasses help legally blind people see! 😮Credit: esighteyewear.com/

Posted by Diply Tech on Saturday, March 17, 2018

 

What is eSight?

eSight is an amazing technological breakthrough – electronic glasses that let the legally blind actually see.

It is the only clinically validated device, in existence, that enables those living with vision loss to see, be mobile, and engage in virtually any Activity of Daily Living.

This device is worn like a normal pair of glasses, and, remarkably, restores sight for someone who is visually impaired.

Most importantly, eSight requires no surgery. Almost instantly after putting them on, an individual with legal blindness or low vision can see in virtually the same manner as someone who is fully sighted. eSight is registered with the FDA and EUDAMED, and is inspected by Health Canada. It is also the only clinically validated wearable technology of its kind.

Neuroscientist Sheila Nirenberg received a MacArthur Genius Award for figuring out, for the first time ever, how our retinas take images from the outside world and turn them into a neural “code” that the brain can understand. It started as a pure research project, but now she’s building the code into a device that could bring sight to the blind.

 

How does this revolutionary technology actually work?

After putting the electronic glasses on, eSight allows the wearer to see, almost instantly and in beautiful clarity.

In the most simplistic sense, eSight works in three steps. The high speed, high-resolution camera in the center of the device captures what a user is looking at in real time. This video feed is sent into a powerful computer in the housing of the glasses and is enhanced using proprietary algorithms. The feed is then projected in colour on the two near-to-eye OLED screens with unprecedented clarity and virtually no latency or delay.

eSighters can then optimize what they are looking at by using the remote to adjust  the color, contrast, focus, brightness and magnification (24x) features. Not only does eSight let wearers actually see, but it also allows them to be truly mobile using the patented Bioptic Tilt Capability. eSighters can tilt the eyewear device to the ideal position for them that can allow the best view of the video feed while maximizing their natural peripheral vision. This, along with short latency, ensures that the eSighter’s balance is not disturbed and no nausea occurs – a common problem faced with immersive technologies such as virtual reality headsets.

Another fun feature about eSight, is it allows individuals to take pictures, and stream video and games by plugging into a laptop, TV or tablet with an HDMI cable, or connecting with Bluetooth or WiFi. That way, whether it is streaming a favourite series at home, taking pictures of notes on the classroom board, or whipping through emails at the office, our eSighters can always be connected.

Who does eSight work for?

eSight works for the overwhelming majority of individuals with vision loss.

Today, our current eSighters live with a variety of conditions, including (but not limited to): Aniridia, Cataracts, Coloboma, Cone-Rod Dystrophy, Diabetic Retinopathy, Glaucoma, Ocular Albinism, Macular Degeneration, Retinopathy of Prematurity (ROP), Stargardt’s Disease, Optic Neuritis, Retinal Detachment, and many more.

According to the World Health Organization, there are approximately 253 million people in the world who are blind. Less than 15% of this population are profoundly or totally blind. Unfortunately, eSight cannot currently help these individuals. However, eSight can work for most of the remaining 85% of this population.

All of our eSighters come from a variety of walks of life. Our youngest user is four years old, and our oldest user is 101 years old. We are also proud to say that our eSighters are spread across over 42 different countries around the world, and counting.

Although all of our eSighters are different, they are united by their fundamental right to see; and eSight is dedicated to making that possible.

What can I do with eSight?

The short answer: virtually anything.

Not only does eSight enable people with vision loss to actually see, but it also restores their independence, confidence, self-esteem and freedom. With eSight, individuals can do almost anything they have only ever dreamt of with their newly restored sight.

With eSight, individuals can participate in virtually all Activities of Daily Living (ADLs). Here are a couple of things that some of our eSighters have been up to:

  • Seeing the faces of loved ones, in some cases for the first time
  • Excelling in school and university from being able to see the board from anywhere in the classroom
  • Plugging into their laptop to work directly from their eSight screens
  • Catching up on their favourite TV shows
  • Reading endless amounts of books
  • Traveling alone to some of the places on their bucket list
  • Being able to go back to work to help support their family
  • Watching their favorite sport teams
  • Pursuing their love of painting, drawing and sketching
  • Cooking meals for themselves and their loved ones
  • Going for a walk by themselves
  • Playing sports with their friends and family
  • Picking up previously abandoned hobbies (cards, woodworking, etc.)
  • Living their life to the fullest

 

 

Grocery Store in Japan

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I wish my grocery store was like this! 😯😯

Posted by Diply Tech on Sunday, May 6, 2018

I wish my grocery store was like this! 😯😯

Posted by Diply Tech on Sunday, May 6, 2018

Stress is not good for your immune system

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Stress is not good for your immune system

Stress is not good for your immune system.

Posted by Hashem Al-Ghaili on Tuesday, May 1, 2018

How stress affects the immune system

If you’re going through a stressful period in your life, it can have a huge impact on both your mental and physical health. Being stressed can lower your immunity, making you more susceptible to bacteria and viruses.

What’s chronic stress?

If you’ve been stressed for a long period of time, you have what’s known as chronic stress. As well as affecting your immune system it can lead to depression, anxiety, high blood pressure, sleep problems and increase your chances of suffering from a heart attack or stroke.

Stress and your immune system

Having chronic stress can result in you developing inflammatory and autoimmune disorders. When stressed, your body produces more of the hormone cortisol which can cause your body to struggle to regulate its inflammatory response and attack itself.

Your immune system will be further impaired by your body not producing enough lymphocytes (white blood cells). They are a vital part of your immune system as they fight off bacteria and viruses. Digestion is also impaired whilst you’re stressed and this can lead to gastric ulcers.

How to reduce your stress levels

There are lots of reasons why you might be feeling stressed. It could be that you’ve got a stressful job, you’re the main carer for a sick relative, you’ve got money problems or you’ve been simply doing too much. It’s important to recognise what’s causing you stress and try to tackle it if you can. You might benefit from taking a relaxation course, getting advice from a professional or finding a friend you can confide in. For the sake of your health, you need to take action.

What the Research Shows

Stressed out? Lonely or depressed? Don’t be surprised if you come down with something. Psychologists in the field of “psychoneuroimmunology” have shown that state of mind affects one’s state of health.

In the early 1980s, psychologist Janice Kiecolt-Glaser, PhD, and immunologist Ronald Glaser, PhD, of the Ohio State University College of Medicine, were intrigued by animal studies that linked stress and infection. From 1982 through 1992, these pioneer researchers studied medical students. Among other things, they found that the students’ immunity went down every year under the simple stress of the three-day exam period. Test takers had fewer natural killer cells, which fight tumors and viral infections. They almost stopped producing immunity-boosting gamma interferon and infection-fighting T-cells responded only weakly to test-tube stimulation.

Those findings opened the floodgates of research. By 2004, Suzanne Segerstrom, PhD, of the University of Kentucky, and Gregory Miller, PhD, of the University of British Columbia, had nearly 300 studies on stress and health to review. Their meta-analysis discerned intriguing patterns. Lab studies that stressed people for a few minutes found a burst of one type of “first responder” activity mixed with other signs of weakening. For stress of any significant duration – from a few days to a few months or years, as happens in real life – all aspects of immunity went downhill. Thus long-term or chronic stress, through too much wear and tear, can ravage the immune system.

The meta-analysis also revealed that people who are older or already sick are more prone to stress-related immune changes. For example, a 2002 study by Lyanne McGuire, PhD, of John Hopkins School of Medicine with Kiecolt-Glaser and Glaser reported that even chronic, sub-clinical mild depression may suppress an older person’s immune system. Participants in the study were in their early 70s and caring for someone with Alzheimer’s disease. Those with chronic mild depression had weaker lymphocyte-T cell responses to two mitogens, which model how the body responds to viruses and bacteria. The immune response was down even 18 months later, and immunity declined with age. In line with the 2004 meta-analysis, it appeared that the key immune factor was duration, not severity, of depression. And in the case of the older caregivers, their depression and age meant a double-whammy for immunity.

The researchers noted that lack of social support has been reported in the research as a risk factor for depression, an insight amplified in a 2005 study of college students. Health psychologists Sarah Pressman, PhD, Sheldon Cohen, PhD, and fellow researchers at Carnegie Mellon University’s Laboratory for the Study of Stress, Immunity and Disease, found that social isolation and feelings of loneliness each independently weakened first-year students’ immunity.

In the study, students got flu shots at the university health center, described their social networks, and kept track of their day-to-day feelings using a handheld computer (a new technique called “momentary ecological awareness”). They also provided saliva samples for measuring levels of the stress hormone cortisol. Small networks and loneliness each independently weakened immunity to a core vaccine component. Immune response was most weakened by the combination of loneliness and small social networks, an obvious health stress facing shy new students who have yet to build their friendship circles.

What the Research Means

Emerging evidence is tracing the pathways of the mind-body interaction. For example, as seen with the college students, chronic feelings of loneliness can help to predict health status — perhaps because lonely people have more psychological stress or experience it more intensely and that stress in turn tamps down immunity. It’s also no surprise that depression hurts immunity; it’s also linked to other physical problems such as heart disease. At the same time, depression may both reflect a lack of social support and/or cause someone to withdraw from social ties. Both can be stressful and hurt the body’s ability to fight infection.

All of these findings extend what we know about how stress management and interpersonal relationships can benefit day-to-day health, doing everything from helping us combat the common cold to speeding healing after surgery. The research is in synch with anecdotal reports of how people get sick in stressful times, but understanding exactly howpsychology affects biology helps scientists to recommend the best ways we can build up immunity.

How We Use the Research

Managing stress, especially chronic or long-term stress (even if it’s not intense), may help people to fight germs. When burdened with long-term stressors, such as caring for an elderly parent or spouse with dementia, health can benefit from conscientious stress management.

Kiecolt-Glaser and Glaser confirmed this hopeful option by comparing the immune function of exam-stressed medical students given hypnosis and relaxation training with that of students without training. At first, the immune responses of the two groups appeared to both go down. However, closer inspection revealed that some students took this exercise more seriously than others. Those who didn’t take relaxation training seriously didn’t fare so well; those who practiced conscientiously did actually have significantly better immune function during exams than students who practiced erratically or not at all.

Finally, the newest findings on social stress underscore the value of good friends; even just a few close friends can help someone feel connected and stay strong. Social ties may indirectly strengthen immunity because friends – at least health-minded friends — can encourage good health behaviors such as eating, sleeping and exercising well. Good friends also help to buffer the stress of negative events.

What are the right of females to get a share at the time of partition?

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 For long, women were not supposed to have as much share in property as men had. Property rights of women in India remained largely an ignored and unaddressed issue. Till about twelve years ago –specifically, year 2005 -women stood to lose on account of their being daughters/wives/daughters-in-law. In September 2005, the courts declared that Indian women would have a right to a share in property just like a man of the family did.

While it is tough to put in brief the minute details of how property rights of women in India effectively stand, below is an attempt to give a glimpse of the same. The status of a woman in terms of relationships has been further analysed in terms of the major law categories.

Daughters

Hindu Law,

  • The daughters now have equal right of inheritance to their father’s estate as sons.
  • The daughters have a right to receive a share in mother’s property.
  • The Hindu Succession (Amendment) Act, 2005 removes discriminatory gender that was in the provisions of the Hindu Succession Act, 1956 and now it gives the various rights to the daughters that are as follows:
  • In the context of coparcener, the daughter will
  • have same rights as the son
  • have to bear the same liability in the property as the son
  • be allotted the same share as to the son
  • The married daughter does not have the right to ask for maintenance or to shelter in her parent’s home

But if the married daughter is deserted, widowed or divorced she has the right of residence

A female has all the rights on any property that she has been gifted or has earned it, or that has been willed to her, that too if she has achieved a majority. She can dispose of the property by selling, gifting or willing to others as she deems fit.

Muslim Law,

  • The daughters have right of inheritance equal to one-half of the son’s share to their father’s estate.
  • She has full control over her share of property and has the legal right to control, manage and dispose of her share as per her wishes in life or after death.
  • The daughter can receive gifts from those whom she may inherit property, but it doesn’t take away her claim as per the inheritance laws.
  • The daughter has the right of residence in her parent’s home and to ask for support until she gets married.

If the married daughter gets divorced, the maintenance charges fall on her parents after the iddat period which is approximately three months but if she has kids who can support her then it is their duty to do so.

Christian Law,

  • The daughters inherit equally with any brothers in her father’s or mother’s estate.
  • The daughter has the right to shelter and maintenance till she gets married from her parents, but she cannot ask for it after her marriage.
  • She has all rights to her personal property, upon accomplishing majority. Until this happens, her father is her natural guardian.

Wives

Hindu Law,

A married woman has full right over her property and is the sole owner whether it is gifted, inherited or earned by her.

She has the right to gift it to anyone whether in parts or as a whole.

The married woman has the right to maintenance and shelter from her husband.

If the husband is a part of a joint family, she has the right to shelter and maintenance from the family.

In the case of partition of a joint family property (between her husband and his sons), the wife has the right to a share equal to as any other person.

When her husband dies, she has the right to an equal share of his part, jointly with her children and his mother.

Muslim Law,

  • The wife has the right to maintenance as any other wife, if any, and to take action against her husband if he discriminates against her.
  • She has the right to maintain her control over her personal property and goods.
  • The wife in case of divorce has the right that the husband makes fair and reasonable provision for her future which includes her maintenance.
  • The wife has the right to mehr’ as per terms of contract accepted at the time of the wedding.
  • She has the right to inheritance to the extent of one-fourth when there are no kids and if there are kids then to the extent of one-eighth.

Christian Law,

  • The wife has the right to receive maintenance from her husband, and if he doesn’t do so, she has the right to ask for the divorce.
  • The wife upon the death of her husband has the right to receive a one-third share of his estate, and the rest is divided among his children equally.

Mothers

Hindu Law,

  • The mother has the right to receive maintenance from her children who can support her. She is a part of Class I heir of Inheritance Law.
  • In the case of Joint Family, the widowed mother has the right to take the share equal to the share of her son.
  • She has the right to dispose of her property by sale, gift or will as she may choose.
  • If the mother dies intestate, her estate will be distributed among her children equally despite their sex.

Muslim Law,

  • If the mother is widowed or she gets divorced, she has the right to receive maintenance from her children.
  • She has the right to inherit a one-sixth share of her deceased child’s property.
  • The mother’s property will be divided as per the rules of Muslim law.

Christian Law,

  • The mother doesn’t have the right to receive maintenance from her children.
  • She may inherit one-fourth of her children’s property if her kids die without a spouse or any living child.

 

Trade set-up for Wednesday: Top 15 things to know before Opening Bell

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Experts advise traders to keep a stop below 10,600 for all long Nifty positions.

The Nifty rallied 6.2 percent in April after falling 8 percent in February and March which resulted in a strong bull candle on Monday’s daily candlestick chart. Formation of a strong bullish candle suggests that momentum is strong and there is a higher possibility now for the index to hit levels closer to 10,900, experts suggest.The index has been forming higher highs and higher lows on the daily chart for the last three trading sessions which indicates that the supports are gradually shifting higher.

However, owing to relentless strength displayed by the bulls in the last five weeks a pause or minor correction can’t be ruled out going forward. Experts advise traders to keep a stop below 10,600 for all long positions.

The Nifty which opened at 10,705.75 on Monday slipped marginally to hit an intraday low of 10,704.60. It hit an intraday high of 10,759 before closing 47 points higher at 10,739.35.

“The Nifty has successfully closed the gap zone between 10,736-10,702 levels registered on February 5 as it signed off the April 30 session with a small bullish candle,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in said.

“However, on the monthly charts, it has registered a robust bullish candle which has erased all panic losses witnessed in March. If the index continues to trade above this gap area, then it could take the index to 10,928 levels,” he said.

Mohammad said investors should use corrections as a buying opportunity as long as the Nifty sustains above 10,600 levels. “We are advising traders to remain long with a stop below 10,600 on a closing basis.”

India VIX rose 2.85 percent to 12.36 on Monday. Lower volatility suggests that bulls are holding a tight grip on the market. Volatility has been falling for the last four consecutive weeks.

We have collated top 15 data points to help you spot a profitable trade:

Key support and resistance levels for the Nifty
The Nifty closed at 10,739.3 on Monday. According to pivot charts, its key support level is placed at 10,709.6, followed by 10,679.9. If the index starts moving upwards, the key resistance levels to watch out are 10,764.0 and 10,788.7.

Nifty Bank
The Nifty Bank index closed at 25,531.6. The important pivot levels, which will act as crucial support, are placed at 25,458.43, followed by 25,385.27. On the upside, the key resistance levels are placed at 25,611.13, followed by 25,690.67.

Call options data
In terms of open interest, the 11,000 call option has seen the most call writing so far at 56.89 lakh contracts. This could act as a crucial resistance level for the index in the May series.

The second-highest build-up has taken place in the 10,800 call option, which has seen 34.29 lakh contracts getting added so far. The 10,900 call option has accumulated 26.11 lakh contracts.

Call writing was seen at the strike price of 11,000, which added 5.77 lakh contracts, followed by 10,800, which added 3.3 lakh contracts and 11,200, which added 2.35 lakh contracts. Hardly any call unwinding has been seen.

Image1

Put options data
Maximum open interest in put options was seen at a strike price of 10,500, which added 38.68 lakh contracts till date. This could be a crucial resistance level for the index in May series.

The 10,600 put option 31.89 lakh contracts so far and the 10,400 put option has now accumulated 31.37 lakh contracts. Put writing was seen at the strike price of 10,600, which added 6.56 lakh contracts, followed by 10,700, which added 6.47 lakh contracts and 10,800, which added 2.8 lakh contracts.

Put unwinding was seen at the strike price of 10,300, which shed 1.42 lakh contracts, followed by 10,200, which shed 1.14 lakh contracts.

Image2

FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 385.47 crore, while domestic institutional investors bought shares worth Rs 261.98 crore in the Indian equity market, as per provisional data available on the NSE.

Fund flow picture
Image3j

Stocks with higher delivery percentage
High delivery percentage suggests that investors are accepting delivery of a stock which indicates investor bullishness.

Image4

81 stocks saw long build-up
Image5

68 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.

Image6

40 stocks saw build-up of shorts
An increase in open interest along with a decrease in price mostly indicates build-up of short positions.

Image7

20 stocks saw long unwinding
Image8

Bulk Deals:
PC Jeweller: Multiple block deals were seen in this counter, but two of them stood out for their sheer size. Alphagrep Commodities traded 67.59 lakh shares at Rs 171 apiece. QE Securities traded over 44 lakh shares at Rs 168 apiece.

Sumeet Industries: Niraj Modi bought 10 lakh shares at Rs 15.90 apiece.
(For more bulk deals click here)

Analyst or board meet/briefings:
Axis Bank: The company had an investor conference on April 30.

Godrej Properties: An investor and analysts conference will be held on May 4.

Yes Bank: Multiple investors met the management recently.

Stocks in news
Bombay Burmah: The CFO of the firm has resigned with effect April 30.

Ceat: The company’s Q4 net profit rose over 16 percent YoY to Rs 77 crore.

Hindustan Zinc: Q4 net profit has fallen 18 percent YoY to Rs 2,505 crore.

HCL Technologies: Keki Mistry resigns as Non-Executive Independent Director with effect from April 30

Rolta India: VL Ganesh resigns as CFO with effect from April 30

M&M: Total sales in April rose 22 percent YoY to 48,097 units.

Maruti Suzuki‘s April sales at 1.73 lakh units, up 14.4% YoY.

Tata Motors April domestic sales up 86% YoY to 53,511 units.

IHH Health, Munjal-Burmans raise bids for Fortis Healthcare by 7-9% on the last day of receipt of bids.

Larsen & Toubro: The firm has sold its electrical & automation business to Schneider Electric for Rs 14,000 crore.

One stock under ban period on the NSESecurity in ban period for next day’s trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit. For May 2, PC Jeweller is present in this list.