Mumbai: Investors awaiting divine intervention as they saw their wealth erode all through the month of May finally had something to cheer for. India's monsoon rains are likely to hit the southern Kerala coast in two days, a top weather official said on Monday, easing concerns about the onset delay threatening plantings of summer crops such as rice, soybean and cotton in the farm-dependent economy. The positive news helped the...
09:23 AM, Jun 04, 2012
Mumbai: It's been a rough start for the June series as the Nifty shed 80 points to close below 4850 dragged down by rate sensitives, commodity, utilities and technology stocks. A slew of bad economic cues from across the globe didn't help Indian equities either. Reports of monsoon rains over India's mainland will be delayed by about four days also weighed on sentiment. China's official purchasing managers' index fell to...
09:46 AM, Jun 01, 2012
Mumbai: After being down in the dumps for the better part of day, Indian equities staged a smart late trade recovery on hopes of a RBI rate cut to revive the sagging economy. Also, gains in European shares aided the recovery. The country's economic growth slumped in the January-March quarter to a nine-year low of 5.3 per cent as the manufacturing sector contracted and a fall in the rupee to...
09:41 AM, May 31, 2012
Mumbai: The Indian market ended Wednesday' trade on a pessimist note as traders chose to sit on the sidelines ahead of the F&O expiry and Q4 GDP numbers slated for a release on Thursday. European markets slipped too after euro fell to its record low in 23 months as investors worried over Spain's banking problems. After more credit ratings downgrades of Spain and news of European Central bank rejecting Spains...
09:39 AM, May 30, 2012
Moody's Investors Service says the depreciating rupee will only have a 'limited' impact on India's sovereign ratings, as only 7 per cent of total government debt is placed overseas, comprising 5 per cent of gross domestic product. The bigger pain would come in the private sector, Moody's said in a weekly credit report out on Monday, given that a falling rupee will raise the cost of paying back foreign currency...
04:15 PM, May 28, 2012
Mumbai: The BSE Sensex rose 1.33 per cent on Monday as an improved global risk sentiment spurred buying in financial stocks such as top lender State Bank of India and recently dented blue chips stocks. SBI rose 4.8 per cent; ICICI Bank added 2.6 per cent, while Reliance Industries ended up 1.42 per cent. The broader 50-share NSE index also gained 1.33 per cent at 4,985.65. All BSE sectoral indices...
09:04 AM, May 28, 2012
Mumbai: The BSE Sensex and NSE Nifty closed flat on Friday after a sharply rally the day before on hopes of diesel price hike. Recovery in rupee and strength in European markets helped markets recoup losses in second half of trade. The BSE benchmark fell 4.48 points, to close at 16,217.82 after a swing of 155 points between intraday high and low. Shares of SBI, L&T, and metal stocks helped...
09:41 AM, May 25, 2012
Mumbai: The BSE Sensex and NSE Nifty advanced around 1 per cent as the steep hike in petrol prices raised hopes that diesel and LPG prices will also be increased. A government committee headed by Finance Minister Pranab Mukherjee will meet on Friday to discuss raising diesel, liquefied petroleum gas (LPG) and kerosene prices, a finance ministry official said on Thursday. Goldman Sachs says it expects limited hikes of about...
09:36 AM, May 24, 2012
Mumbai: The BSE Sensex and NSE Nifty recouped more than half of losses in second half of trade to close 0.5 per cent lower on Wednesday, even after the Indian rupee fell over 1 per cent to hit a record low of 56.18 to the dollar and more than 2 per cent decline in European markets. Recovery in later part of the session may be on hopes that the government...
09:27 AM, May 23, 2012
New Delhi: With rupee falling to record low against dollar, Finance Minister Pranab Mukherjee on Tuesday said the government is taking steps to arrest volatility in the foreign exchange market and the Reserve Bank of India (RBI) will intervene when necessary. "The government is taking a series of steps. However, managing rupee is market-related.... There is a lot of volatility," he told reporters in New Delhi. The Indian rupee slid...
05:00 PM, May 22, 2012
Mumbai: The BSE Sensex and NSE Nifty fell as much as 1.1 per cent each on Tuesday, weighed down by sharp depreciation in the rupee. However, the global markets stayed positive, even after Fitch downgraded Japan to A+ from AA. Indian equities underperformed global peers on Tuesday. The BSE benchmark lost 156.85 points or 0.97 per cent, to close at 16,026.41 led by 26 components. The NSE benchmark touched intraday...
09:04 AM, May 22, 2012
The rupee on Monday tumbled to an all-time low of 55.03 a dollar due to increased demand for the American currency from banks and importers. ...
05:52 PM, May 21, 2012
Mumbai: The rupee on Monday tumbled to an all-time low of 55.03 a dollar due to increased demand for the American currency from banks and importers. The local unit resumed lower at 54.70 a dollar at the Interbank Foreign Exchange (Forex) Market and plunged to a new all-time low of 55.03 against the US dollar. Forex dealers said fresh dollar demand from banks and particularly, month-end demand from oil importers...
04:49 PM, May 21, 2012
Mumbai: The BSE Sensex and NSE Nifty closed flat on Monday after shedding all gains in late trade due to sharp fall in rupee and erasing somewhat gains by European markets. SBI, Reliance Industries, L&T and ICICI Bank helped market closed marginally higher while the fall in ITC, Infosys, HDFC Bank and ONGC limited the upside. The BSE benchmark shed more than 100 points from day's high of 16,298, before...
09:06 AM, May 21, 2012
Mumbai: The BSE Sensex and NSE Nifty showed a nice rebound in late trade on Friday led by outstanding performance by SBI in fourth quarter numbers and sharp recovery in rupee from record low to near previous close. However, the global markets stayed under pressure due to eurozone concerns and weak US data. Short covering helped markets close 0.4 per cent higher on Friday. The BSE benchmark rose 82.27 points...
09:13 AM, May 18, 2012
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