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Short-term support expected at 5,000, resistance above 5,200
The Nifty closed above 5,000 due to short-covering on healthy GDP numbers for the September quarter and easing of concerns about the debt default in Dubai. The Nifty December futures saw short-covering above 5,030 and there was long build-up below 5,010. In the end, futures shed 813,250 shares in open interest (OI) and closed at four points premium to the spot, indicating unwinding of short positions.

Bharti nears deal with Warid in Bangladesh
Telecom giant Bharti Airtel is close to clinching a deal to acquire 70 per cent stake in Warid Telecom, a local mobile company in Bangladesh owned by Abu Dhabi Group, with top officials from both companies meeting here to "brainstorm a consensus", a media report said today.

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NEWSALERT: Uttam Galva appoints Nominee Director
Steel manufacturer, Uttam Galva Steels today said it has appointed Swarna Prabha Sukumar as a Nominee Director in place of S R Krishnaswamy with effect from September 22.
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50% quota for women in urban local bodies

The government today sought to increase the representation of women in urban local bodies by providing 50 per cent reservation to them instead of the existing 33 per cent. - Urban development minister for high-rise buildings - Urban Dev Minister for high rise buildings - Bus Rapid Transit system in nine more cities - That"s diplomacy - All Commonwealth Games projects on course: Jaipal Reddy - Govt approves Rs 40,000-cr power equipment order Introducing the Constitution (One Hundred and Twelfth Amendment) Bill, 2009, in the Lok Sabha, Urban Development Minister S Jaipal Reddy said enhancement of reservation for women in Urban Local Bodies would ensure their increased representation and participation. "It will also bring into mainstream gender concerns in governance and decision making process, particularly, those related to women"s issues such as water supply, sanitation, solid waste management, health and education. This is only desirable since women constitute nearly half of the population," he said. Parliament had in its earlier session passed a similar bill to increase women"s reservation in rural local bodies to 50 per cent instead of the existing 33 per cent. Noting that President Pratibha Patil had in her address to Parliament on June 4 this year stated that a Bill providing 50 per cent reservation for women in Urban Local Bodies would be moved by the government, Reddy said accordingly, the Bill had been prepared after inter-ministerial consultation and discussions with the state governments. He said the governments of West Bengal, Tamil Nadu, Kerala and Andhra Pradesh had supported the proposal to provide 50 per cent quota to women, while Himachal Pradesh, Bihar and Madhya Pradesh had already provided for the same in urban local bodies.


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