Benchmarks were witnessing a relief rally as sentiments turned positive following a sharp correction in last couple of sessions on concerns of global economic health. The rally in European stocks is likely to help the bulls to hold prices at higher levels. However, traders are advising caution as market may turn volatile ahead of September [...]
Indian equity benchmarks opened more than 200 points lower on renewed US recession concerns but improved slightly shortly after. Falling rupee too added to the injury. At 9:21 hours IST, the 50-share NSE Nifty slipped 61 points to 4,862 and the 30-share BSE Sensex dropped 205 points to 16,155. Most of Asian markets were trading [...]
The bleeding is profuse and the cut is just getting deeper as Indian equity benchmarks extended sell-off, following further fall in global markets and rupee depreciation. The 50-share NSE Nifty crashed 211 points to 4,922 and the 30-share BSE Sensex shed 708 points to 16,357. European markets like France’s CAC, Germany’s DAX and Britain’s FTSE [...]
Led by Infosys Technologies, shares of IT companies surged by up to 2.74 per cent on the BSE after the Indian rupee fell by 42 paise to a fresh two-year low of Rs 48.23 against the US dollar in early trade on Tuesday. Shares of Infosys Technologies, the top Sensex performer in morning trade, jumped [...]
The beaten down market recovered slightly as Europe gained. Volatility in market continued as Rupee touched a high of 47.52 per dollar. Financial, oil & gas, capital goods and select auto stocks were under selling pressure. The 30-share BSE Sensex was down 14 points at 16,487 and the 50-share NSE Nifty was the most flat [...]
Reliance Industries today said it has closed the USD 7.2 billion deal to sell 30 per cent stake in 21 oil and gas bearing areas to UK”s BP Plc, an alliance the Mukesh Ambani firm is banking on to arrest sagging production at its showpiece KG-D6 gas fields. "This significant step will commence the planned [...]
Mahanagar Telephone Nigam Ltd. has given contracts worth a total of INR67.57 million to Tata Communications Ltd. and Vodafone-Essar Ltd., the Indian unit of Vodafone Group PLC. According to the terms of the contract, given in July, the two companies will carry international calls originating from MTNL’s Delhi network to other destinations across the world, [...]
The third biggest rally of 2011 took place on the first day of the week. The 30-share BSE Sensex surged 567.5 points, to close at 16,416.33. The market witnessed a relief rally right from the start of the trade and at one point the Sensex rose more than 600 points. Meanwhile, the 50-share NSE Nifty [...]
Reliance Industries on Tuesday regained its position as the country’s most-valued firm company, while state-run Coal India slipped to third slot within a week of toppling the Mukesh Ambani-led corporate giant from the top. After slipping to second position after RIL in early morning trade, Coal India (CIL) lost further ground and moved to third [...]
In what could lead to a possible price war among tablet makers in the Indian market, Beetel Teletech, Bharti Airtel’s handset-making and distribution arm, will begin selling its tablet this week at Rs 9,999, the lowest by any mobile phone maker yet. The 7-inch Beetel Magiq tablet supports Wi-Fi and 3G and runs on Android, [...]
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