24 April, 2009

Indian key benchmark indices advanced for the seventh straight week as positive cues from European markets improve investors’ sentiments in domestic bourses. Further, the approaching F&O expiry forced traders for short covering.

The Sensex closed at provisional 11309.48, up 174.49 points or 1.57%. The index hit an intra-day high of 11362.88 and low of 11070.33. Nifty ended at provisional 3476.45, up 52.75 points or 1.54%. The broader index hit a low of 3402.90 and high of 3491.35.

24 April, 2009

The rupee was close to its one-week highs, sentiments supported by the dollar's weakness against major currencies regardless of demand from local oil refiners.

The rupee was at 49.86 against the dollar at 3:30 pm, up from the previous close of 49.92. The current level is around4.5% above its record low of 52.20 hit in early March.

April 23, 2009

India's benchmark wholesale inflation surprisingly increased to 0.26% in the week ended April 11 from the year-earlier period, according to official data reported. The same was at 0.18% last week and 7.95% in the corresponding week in 2008. Experts still continue to say that though the inflation rate showed an upward move, the inflation rate would go down in the negative territory (below zero) in 1-2 weeks.

April 22, 2009

The National Stock Exchange through a circular dated, 21 April, 2009, has excluded 50 securities from the futures and options segment. As per the release issued by the exchange, the following 50 stocks will not be available for trading on expiry of existing contract months - i.e April, May and June.

21 April, 2009

Goldman Sachs Group Inc. analysts forecast oil prices will decline to $45 a barrel due to weak demand and increasing inventories before recovering to $65 by the end of the year.

21 April, 2009

In the annual policy announced, RBI has stated that the repo and reverse repo rates were cut by 25 basis points each. The repo rate has been cut to 4.75% from the existing 5% while the reverse repo has been cut to 3.25% from the existing 3.5%.

April 17, 2009

Gold prices fell by Rs 220 to Rs 14,300 per 10 gram, while silver witnessed the biggest fall of the year on the bullion market here today due to selling by stockists influenced by a weakening overseas trend accompanied by the rising stock markets.

corresponding to the bearish trend in the global market, silver prices recorded the biggest fall of the year by losing Rs 1,720 at Rs 20,600 per kg.

According to marketmen, Silver and gold plunged in Asia subsequent to major market players shifted funds to the rising stock.

April 17, 2009

Oil prices remained near $50 a barrel today in Asia as investors considered a possible second-half recovery of US crude demand against recent dismal economic data depicting a severe recession.

Benchmark crude for May delivery plunged 33 cents to $49.65/ barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange. The contract yesterday rose 73 cents to settle at $49.98.

April 17, 2009

The Indian rupee became strong marginally by nine paise to 49.68 against the greenback in early trade today on fresh capital inflows by foreign funds. At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted higher at 49.68 / $, up by nine paise over the previous close of 49.77/78.

April 17, 2009

Headline inflation rate declined further to 0.18 % for the week ended April 4 this year, primarily due to drop in prices of manufactured products. The inflation rate, as measured by the wholesale price index (WPI), was 0.26 % last week and 7.71 % in the corresponding week in 2008.

Analysts still anticipate inflation would fall below the zero rate, defined as deflation, within two to five weeks time. According to them, this historic low number again may prompt Reserve Bank of India (RBI) to reduce key interest rates further.