The immigrant owner of a New Jersey
convenience store has come forward to claim the USD 338.3 million
jackpot in the Powerball lottery, media reports said today. Pedro
Quezada, 44, has handed in what he says is the golden ticket he bought
on Saturday. "I can't believe it. I'm overwhelmed. I just can't get
over it," the Dominican-born father of five was quoted as saying by the
New York Post. "I was praying so much for this. I'm just giving thanks
to God." Officials did not immediately announce Quezada's win, but did
confirm that the winning ticket, matching five numbers and a Powerball,
was drawn in the Eagle Liquors store which he frequented in his hometown
of Passaic. Quezada appeared shocked by his success against 175
million to one odds, reports said. It was only yesterday, when he made
his daily visit to Eagle Liquors, that he realised. "He didn't know he
won when he came in because he stopped to check the board," an employee
told the Post. "He was shocked and emotional. He said, 'It's me!'"
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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