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No need for nervousness, Chidambaram assures stock markets

New Delhi: Finance Minister P Chidambaram on Thursday sought to assuage the stock market, after it declined by over 350 points, by asserting that there was no need for any "nervousness" and the participants should read the situation correctly rather than be influenced by external developments.

"There is no need for any kind of nervousness. I am looking forward to June and the second quarter with much greater confidence. I think the Indian market should read the situation correctly rather than being influenced by something which is happening elsewhere", he said.

The Minister was reacting to sudden crash in Indian stock markets in response to a statement by Federal Reserve Chairman Ben Bernanke in which he had talked about scaling back of stimulus with improvement in economic conditions. The BSE Sensex slipped by 365 points to 19,697.44 points during the intra-day trade. The markets later recovered.

"We have been looking at what is happening in the market. We think that Bernanake's statement has been misunderstood or misinterpreted. If we read the statement carefully, he has clearly indicated that he will continue with quantitative easing in the foreseeable future at about USD 85 billion a month or so," Chidambaram said....more    

Rupee down 37 paise against dollar in early trade

Mumbai: The rupee on Wednesday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas. Forex dealers said besides dollar's gains against euro and other currencies in the overseas markets, sustained dollar demand from importers and some banks and a lower opening in the stock...  

Sensex falls below 20,000, down 388 points

Mumbai: The BSE benchmark Sensex on Thursday lost 388 points to fall below 20,000 level on disappointing March quarter earnings from state-run lender State Bank of India, amid weak global trend after US Federal Reserve hinted at scaling down monetary stimulus. Extending losses for the fourth straight day, the 30-share index nosedived by 387.91 points, or 1.93 per cent, to close at 19,674.33, with all the sectoral indices, led by...  

Sensex at one-week low, down 49 points

Mumbai: Sliding for the third day, the BSE benchmark Sensex on Wednesday fell by 49 points to close at a fresh one-week low of 20,062.24, dragged down by over 5.5 per cent drop in L&T shares after its earnings failed to meet market expectations. The Bombay Stock Exchange 30-share barometer resumed better and moved in a range of 20,220.35 and 20,000.86, before concluding at 20,062.24, a fall of 49.37 points...  

Rajasthan 12th Board Arts results announced, Jaipur girl tops

The Rajasthan Board of Secondary Examination (RBSE)on Tuesday declared the results for the Senior Secondary (Arts) 2013 Examinations. Candidates can log on to www.rajresults.nic.in to check their results. Jaipur girl Bharti Gautam topped the exams while Mahendra Godara from Suratgarh secured the second position. The total pass percentage is 80.6 per cent in the 12th Board (Arts) exams. Girls outperformed boys this year with a pass percentage of 88.55 per...  

Sensex sheds 112 points as share sales, Fed meet weigh

Mumbai: Benchmark indices fell for the second successive session on Tuesday, as the market is trying to digest the heady gains of the past few weeks. Brokers said share sales by promoters trying to meet the 25 per cent minimum public shareholding rule, and the US Federal Reserve meeting on Wednesday, made buyers cautious. The 30-share Sensex fell 112.37 points to close at 20111.61, and the 50-share Nifty ended at...  

Sensex ends lower; pharma stocks take a hit

Mumbai: Indian shares took a breather on Monday and closed marginally in red on profit booking after hitting fresh 2.5 year highs. Pharma companies dragged key equity benchmarks lower while major auto stocks ended in green. The Sensex closed at 20223.98, down 62 points or 0.31 per cent and the Nifty ended at 6156.90 down 30 points or 0.49 percent. About 1107 shares advanced, 1298 shares declined, and 141 shares...  

Sensex edges up at close as infra stocks rally

Mumbai: The BSE Sensex closed slightly up on Friday as a late rally in infrastructure stocks offset a decline in pharmaceutical companies. The BSE Sensex provisionally closed up 0.14 per cent while the broader Nifty provisionally ended 0.28 per cent higher. Drugmakers fell after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps. ...  

BSE Sensex ends flat; midcap stocks outperform

Mumbai: Key equity benchmarks consolidated on Thursday and managed to end in green after touching fresh multi-year highs in trade. Shares of banks, realty, auto, pharma and capital goods continued to see buying in trade and closed with smart gains. The Sensex closed at 20247.33, up 34.37 points or 0.17 per cent and the Nifty ended at 6169.90 up 23.15 points or 0.38 per cent. About 1183 shares advanced, 1270...  

Rupee up by 5 paise against dollar in early trade

Mumbai: The rupee on Wednesday rose by five paise to 54.76 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency by exporters. Besides, a higher opening in the domestic equity market and strengthening of euro against the dollar overseas supported the rupee, forex dealers said. The rupee had lost eight paise to close at an over 1-month low of 54.81 against the...  

Nifty, Sensex end at highest level since January 2011

Mumbai: The BSE benchmark Sensex on Wednesday rose over 158 points in early trade on sustained buying by funds and retail investors, mainly in realty, banking, auto and metal sector stocks. Also, the wide-based National Stock Exchange index Nifty, regained the 6,000 points level by surging 41.10 points, or 0.69 per cent, to 6,036.50. Rising for the second straight session, the BSE's 30-share barometer rose by 158.19 points, or 0.80...  

Sensex ends flat, shrugs off 41-month low inflation data

Mumbai: Major equity benchmarks consolidated in trade today and closed flat shrugging off 41-month low April WPI inflation number of 4.89 per cent, way below RBI's comfort zone. The Sensex closed at 19722.2 up 30.62 points and the Nifty ended at 5995.40, up 14.95 points. About 1162 shares advanced, 1206 shares declined and 146 shares were unchanged. Key gainers in the Nifty were Ranbaxy Labs, Bank of Baroda, Sun Pharma,...  

Sensex ends 40 points up in special trading session

Mumbai: The BSE benchmark Sensex on Saturday gained 40 points in a special two-hour trading session as investors indulged in selective buying of bluechip stocks tracking gains in healthcare and metal sector shares. The 30-share index, which had regained 20,000 level after over three months on Friday, added another 39.70, or 0.20 per cent to settle at 20,122.32. Similarly, the broad-based National Stock Exchange index Nifty rose by 12,50 points,...  

Sensex ends above 20,000, Nifty at 2013-high on FII buying

Mumbai: The Bombay Stock Exchange (BSE) benchmark Sensex on Friday closed above the much-awaited 20,000 mark after a gap of 100 days and the NSE Nifty closed at its highest level in 2013 on heavy buying in auto, consumer durables, FMCG and banking shares amid improvement in IIP suggesting pick-up in growth. After a better start, the 30-share Sensex ended higher by 143.58 points, or 0.73 per cent to 20,082.62,...  

Rupee up marginally against dollar in early trade

Mumbai: The rupee traded marginally up by one paise to 54.15 against the US dollar in early trade at the Interbank Foreign Exchange on Thursday on sustained selling of the American currency by exporters. Strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market further supported the rupee. The rupee had closed marginally lower by two paise at 54.16 against the dollar in...  

Sensex snaps 3-day rise; falls 51 points on profit-booking

Mumbai: The BSE benchmark Sensex on Thursday retreated from over three-month high levels by losing 51 points on profit-booking in recent outperformers such as Reliance Industries, Sun Pharma and HDFC Bank ahead of key industrial production data release tomorrow. After gaining over 400 points in past three sessions, the Sensex on Thursday declined by 51.14 points, or 0.26 per cent, to close at 19,939.04. The gauge had hit the crucial...  

Sensex hits 3-month high, rises 215 points

Mumbai: The BSE benchmark Sensex on Tuesday rose over 215 points to close at three-month of 19,888.95 and Nifty regained 6,000-point mark on sustained buying by FIIs in banking, FMCG, realty and auto sector stocks. The Sensex rose by 215.31 points, or 1.09 per cent, to 19,888.95, a level last seen on January 31. The index had gained 98 points in the previous session. The gauge had touched the day's...  

Sensex near three-month high; IT, metal stocks rise

Mumbai: The BSE Sensex closed near a three-month high hit on Thursday, led by gains in stocks beaten down earlier, such as TCS which was up on short covering, and Hindalco, following copper's more than 6 per cent gain on Friday. Among technology shares, Tata Consultancy Services Ltd provisionally rose 3.3 per cent, while in metals, Hindalco Industries Ltd ended 3.7 per cent higher. The BSE Sensex provisionally gained 0.47...  

Power tariff hiked by 1.5 per cent in Delhi

New Delhi: Despite strong protest by the BJP and Aam Admi Party against rising power tariff, the Delhi Electricity Regulatory Commission on Friday hiked the rates by 1.5 per cent to adjust the power purchase cost of the distribution companies. The DERC has fixed 4.5 per cent fuel surcharge for BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd while for Tata Power Delhi Distribution Ltd the surchgarge will be...  

Sensex declines 160 points on RBI's 'hawkish' policy stance

Mumbai: In a highly volatile trade, the BSE benchmark Sensex on Friday fell by 160 points on profit-booking in interest-sensitive banking, auto and realty stocks as RBI adopted a "hawkish" stance in its monetary policy 2013-14 that overshadowed its 0.25 per cent cut in repo rate. Snapping three days of gains, the Sensex fell by 160.13 points, or 0.81 per cent, to 19,575.64. The index had gained 449 points in...