Latest news with #DMA
Hans India
an hour ago
- Business
- Hans India
No weak signals but waning momentum
The equity indices consolidated for a second successive week. The Nifty declined by 102.45 points or 0.41 per cent. The BSE Sensex is down by just 0.33 per cent. The broader indices outperformed as Midcap-100 and Smallcap-100 gained by 1.29 per cent and 1.36 per cent, respectively. On a sectoral front, the Nifty Media is the top gainer with 1.67 per cent, followed by Realty with 1.33 per cent. The Energy and Banknifty are up by 0.68 per cent and 0.63 per cent. On the other hand, the FMCG sector is down by 2.16 per cent. The Auto and Consumer Durables fell by 0.81 per cent and 0.77 per cent, respectively. The India VIX is down by 6.95 per cent to 16.07. The FIIs bought Rs.11,773.25 crore, and the DIIs bought Rs.67,642.34 crore worth of equities during the month. As we forecast earlier, the benchmark index Nifty continues to consolidate within the range. With the last two weeks of inside action, the momentum is waning. As the index has not formed a lower low and is trading above the key supports, there are no weaker signals available. It traded in the 24378-25116 range over the last 15 days and closed at the midpoint of the range. It took support at 20 DMA twice during this consolidation. As long as this inside price action is taken out, the directional bias is neutral. As the MSCI rebalancing happened, massive volumes were recorded on Friday. The volumes were highest after 4th June 2024. Interestingly, the Nifty holds 9 nine distribution days currently, which is the highest number in recent history. Normally, when the distribution day count increases above six, there will be a confirmed downtrend. But the Nifty is in a confirmed uptrend this time. The interesting technical factor is a rare phenomenon. From the 4th March low, the volume trend is increasing. The Nifty is now 3.30 per cent above the 50 DMA, and just 0.23 per cent above the 20DMA. Even after a 15.51 per cent rally, the 200 DMA is still flat, not in an uptrend. The 200 EMA and other medium-term averages are in a decisively uptrend. This shows the inherent trend is stronger. The recovery from the 7th of April is very impulsive. All impulsive rallies normally consolidate before continuing the prior trend. A normal consolidation pattern takes 3-8 weeks time. As we stated, the time correction is due now. The 23.6 per cent retracement level of the recent upswing is at 24320. The 12th Mary low is at 24378. This zone is the crucial support of the consolidation. A close below the 20 DMA of 24692 will indicate a short-term weakness. In any case, the index closes below the support zone, the 50 DMA is at 23960, and the 38.6 per cent retracement level is at 23827. We can not expect the market to go down below this zone for now. If the Nifty declines below this, it means closing below the 200 DMA. For the past two weeks, the focus has shifted to mid- and small-cap stocks, as large caps are consolidating. The Midcap-100 index gained by 6.09 per cent, and the Smallcap-100 is up by 8.72 per cent. Whereas the benchmark Nifty has advanced just 1.71 per cent. In the current calendar year, the Nifty is positive by 4.7 per cent. Several stocks are breaking out of early-stage bases and showing higher relative strength. These stocks show a decent improvement in fundamentals with earnings growth. These stocks have the potential to outperform.
Axios
2 hours ago
- Business
- Axios
Scoop: Apple to appeal EU requirement to share info with tech rivals
Apple filed an appeal to the European Commission's specifications around how the company complies with its interoperability requirements, which compel it to share user information with outside developers as part of the Digital Markets Act, per a source familiar with the situation. Why it matters: Apple continues to push back forcefully against requirements imposed by the DMA, which the company has said forces it to give up its intellectual property and compromise user privacy. The deadline to appeal this particular requirement was May 30. How it works: The interoperability requirements are meant to give other device manufacturers and app developers access to Apple features that are normally exclusive to Apple products, including WiFi pairing and notifications on non-Apple smartwatches and headsets. Apple and Meta were the first companies to be hit with DMA fines in April, as Axios first reported. Apple put out a report last December arguing that the DMA's interoperability reports could be abused and expose private user information. What they're saying: "We design our technology to work seamlessly together, so it can deliver the unique experience our users love and expect from our products. The EU's interoperability requirements threaten that foundation, while creating a process that is unreasonable, costly, and stifles innovation," an Apple spokesperson told Axios. "These requirements will also hand data-hungry companies sensitive information, which poses massive privacy and security risks to our EU users." Per the Apple spokesperson, as allowed under the DMA's interoperability requirement, companies including Meta, Google, Garmin and Spotify have requested from Apple user notification content and stored WiFi networks, "giving them the ability to access personal information that even Apple doesn't see." The spokesperson added, "In the end, these deeply flawed rules that only target Apple—and no other company—will severely limit our ability to deliver innovative products and features to Europe, leading to an inferior user experience for our European customers." The other side: Companies that rely on the App Store to distribute their products have welcomed the DMA's requirements of Apple, saying they are long overdue for developers and other businesses to offer customers better features on their apps and devices.
The Citizen
a day ago
- Health
- The Citizen
Government gains momentum in tackling foot and mouth disease
Intensified efforts to control and eradicate foot and mouth disease (FMD) are paying off. This is according to Agriculture Minister John Steenhuisen, who, in a statement on Wednesday, said the process of procuring vaccines through Onderstepoort Biological Products has started, and the next batch of vaccines is expected to be delivered by mid-June. The disease management areas (DMAs) in the two provinces are soon to be lifted, and an urgent order has been placed for much-needed vaccines valued at R72m. 'This marks a crucial step forward in the department's vaccination strategy. The department has provisionally costed the vaccine requirements for the 2025/2026 financial year at R1.2b, with each vaccine estimated at R100 per dose,' Steenhuisen said. Recognising the seriousness of the FMD threat, the minister said he escalated control efforts to the deputy director-general (DGG) for agricultural production, biosecurity and natural resources management, Dipepeneneng Serage, earlier this month. 'The office of the DDG has already engaged with veterinary services and various industry representatives to detail the actions required to curb the threat.' The minister highlighted that the lifting of the current DMAs in the Eastern Cape and Limpopo is imminent. In the Eastern Cape, disease management areas covering the Kouga and Kou-Kamma Municipalities have been in place since July 26, 2024. Through a robust vaccination campaign, 144 424 vaccinations were successfully administered, and the last confirmed FMD case was reported in September 2024. He added that extensive serological surveillance has found no further signs of infection. Steenhuisen confirmed that the movement restrictions in the Eastern Cape DMA will be lifted soon. Similar success has been reported in the Vhembe District in Limpopo, where a DMA was declared in September 2022 to control an FMD outbreak in dip tanks in the Vhembe Municipality. Two rounds of vaccination saw 23 024 vaccinations administered to cattle across 34 dip tanks, proving highly effective in bringing the outbreak under control. 'These positive developments highlight the effectiveness of our collaborative control measures, and the dedication of all stakeholders involved. The department remains vigilant and committed to implementing proactive strategies to safeguard animal health and the agricultural sector,' said the minister. KZN The minister reported that the DMA in KZN remains in place, since there are still signs of active virus circulation in the area. He said some outbreaks that were detected outside of the DMA were successfully contained with no sign of outward spread of the disease. 'An abattoir in the Vryheid area in the DMA is in the process of being designated to slaughter animals from premises under FMD restrictions. A system has been put in place to assess the level of biosecurity on individual farms, with the intention of aligning the control measures to the biosecurity risks,' the minister explained. Mpumalanga Meanwhile, the minister said a single outbreak was reported on a single farm in the Gert Sibande Municipality in Mpumalanga, in April, which was identified as a trace forward from an auction in KZN. 'Following one round of targeted surveillance of surrounding farms, there are no signs that this outbreak spread to any adjacent farms or other linked locations. The department has started with the second round of surveillance,' the minister said. Gauteng In addition, in Gauteng, new FMD cases have been confirmed in the West Rand and East Rand. The minister noted that an outbreak at a feedlot and adjacent farm were found to be positive in the West Rand Municipality. Initially, the outbreak was linked to an auction in Heidelberg, however follow-up epidemiological investigation indicated a different infection source. 'Veterinary services are testing adjacent premises and linked locations to determine the origin of this outbreak and possible spread.' Additional cases were detected in communal cattle in the East Rand in May. Samples were collected and FMD infection was confirmed. Epidemiological investigations have commenced to identify and test all adjacent and linked locations. Suspension of beef imports The minister announced that the People's Republic of China has suspended imports of cloven-hoofed animals and related products from South Africa due to the spread of the outbreaks in KZN to Mpumalanga and Gauteng. 'Preliminary information obtained confirmed that this suspension includes only beef from South Africa to China. The good news is that the export of wool that complies with the protocol already agreed to has not been affected,' the minister said. He has also urged livestock owners and traders to take note of the incubation period of FMD. He reminded farmers that FMD has an incubation period of up to 14 days, during which animals can appear clinically healthy, before they start showing clinical signs generally associated with FMD. 'It is crucial that newly bought animals are kept separate from the resident herd for at least 28 days, even if a health attestation was issued for the animals. The health attestation and 28-day separation have been a legal requirement since October 2022.' Biosecurity Minister Steenhuisen emphasised the importance of national co-operation in halting the spread of FMD. 'Biosecurity is everybody's responsibility. The department urges all livestock farmers in the country to limit animal movement as far as possible. 'Auctioneers and livestock owners should be vigilant when buying cloven-hoofed animals from provinces in which there are active FMD outbreaks. No cloven-hoofed animals should be accepted from areas under restriction for FMD,' said the minister. – Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Time of India
3 days ago
- Politics
- Time of India
Kerala high court seeks Centre's views on waiving of loans of Wayanad landslide victims
Kochi: Kerala high court has sought instructions from the central govt by June 11 on its position regarding waiving of the loans availed by those affected by the devastating landslides at Chooralmala and Mundakkai in Wayanad on July 30, 2024. Earlier, on April 10, the court had directed the central govt to consider whether the provisions of the Disaster Management Act (DMA) could be invoked to direct banks to waive of the loans of the landslide victims. On Friday, while considering the suo motu petition concerning the rehabilitation of the victims, the bench of Justices A K Jayasankaran Nambiar and P M Manoj noted that no further instructions had been received on the matter. The court, therefore, directed the deputy solicitor general to obtain and submit instructions. Meanwhile, amicus curiae submitted a report raising concerns over whether National Highways Authority of India (NHAI) has approved any disaster management plan as mandated under the DMA. The report referred to a study conducted by NATPAC, which found that approximately 36% of national highways in Kerala are classified as unsafe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo These high-risk zones include stretches passing through geologically sensitive regions such as Wayanad, Kasaragod and Idukki. The report also cited several incidents related to ongoing highway construction activities across the state. Upon reviewing the report, the court directed NHAI to submit a report in the matter by June 11. The petition has been adjourned to June 13 for further proceedings. The Kerala State Disaster Management Authority informed HC that debris removal work in the landslide-affected area commenced on April 15, beginning with the road stretch between the Bailey Bridge and the school. It was subsequently decided to extend the operation from the confluence of the Punnapuzha and Padavattipuzha rivers down to the Attamala region.
Yahoo
3 days ago
- Business
- Yahoo
Beshear, Khanna to headline Dem mayor summit in July
Two potential 2028 Democratic presidential primary candidates will descend on Cleveland in July to headline a rub elbows with the party's top mayors — auditioning for another group of key surrogates in the unfolding shadow primary. Kentucky Gov. Andy Beshear and California Rep. Ro Khanna will join Democratic Mayoral Association President and Cleveland Mayor Justin Bibb for a national gathering of Democratic mayors alongside DNC Chair Ken Martin, former Ohio Sen. Sherrod Brownand current Ohio Rep. Shontel Brown. Details were shared first with POLITICO. 'The summit will showcase our cities, the work mayors are doing to hold [President Donald] Trump accountable, deliver results, and demonstrate that government can work for the people,' said a person familiar with the planning and granted anonymity to discuss an event that was still being finalized. The theme of the summit is 'Community Over Chaos: A Path Forward.' 'I am excited to welcome my fellow Democratic mayors, special guests, and Democratic partners to my hometown of Cleveland for DMA's National Summit later this summer,' Bibb told POLITICO. 'This year's summit will be a showcase of our cities and how government at the local level still works for the people. Despite chaos in Washington, mayors continue to find solutions and deliver results each day. I can't wait for everyone to see what Democratic mayors — and Cleveland — are all about.' The event is in line with Bibb's vision for the association playing a more aggressive and vocal role than in years past, and this will mark the first year that DMA's national summit will be open to the public and press. But it also comes at a fraught time for Democratic mayors, particularly those of big cities, who have found themselves targeted by the Trump administration. Both Beshear and Khanna have been making early moves that are aimed at a presidential run. Beshear has hired a former spokesperson for Vice President Kamala Harris' campaign and started a podcast this spring. Khanna has been on a nonstop tour of media hits and party events. But Ohio, once a swing state, has drifted even further away from Democrats in recent years. Brown, a longtime Senator who clung to his seat even as it reddened due to his ties to working-class voters, got booted last cycle. President Donald Trump won the state by 11 percentage points.
