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Benchmark indices fell for the sixth consecutive session with the Sensex losing 65.60 points to 26242.38. The Nifty managed to hold 8050 level, falling 21.10 points to 8061.30. About 1400 shares declined against 1176 advancing shares on the BSE. Maruti Suzuki, Lupin, NTPC, M&M, ONGC, UltraTech Cement, Hindalco and Bank of Baroda gained 1-1.5 percent while Sun Pharma, ITC, TCS, Axis Bank, L&T, Bharti Infratel, Idea Cellular and Ambuja Cements fell 1-3 percent.
The Centre today decided to bring in an ordinance to amend the Payment of Wages Act for allowing business and industrial establishments to pay salaries through cheques or electronically. "The Union Cabinet today approved the ordinance route to amend the Payment of Wages Act, 1936, to allow employers of certain industries to make payment through the electronic mode and cheques," a source said. Employers will also have the option to pay wages in cash, the source added. As per practice, the government introduces ordinance to amend laws for immediate implementation of new rules. An ordinance is valid for six months only. The government is required to get it passed in Parliament within that period.
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