AIG earns $11b in Q4 on asset sales
Bailed-out insurer American International Group Inc earned more than USD 11 billion in the fourth quarter as one-time gains for asset sales offset charges to increase its reserves for asbestos and other exposures.
News Roundup: Creamline Dairy to raise Rs 100Cr PE Funding
Creamline Dairy Products Ltd, which sells Jersey brand of dairy products in the South, is in advanced talks with a private equity firm to raise Rs 100 crore.
Fund Action witnessed in Orchid Chemicals, Alok Ind
Fund Action witnessed in Orchid Chemicals, Alok Ind, Apollo Tyres, Aurobindo Pharma, Firstsource, Great Offshore, Mercator Lines, IFCI, Nagarjuna Fert, Jindal South West Hold, Praj Industries and Hexaware.
5300 Put, 5500 call see highest OI outstanding
March stocks Futures' OI was at 167 crore shares as against 177 crore shares. Nifty Open Interest PCR was up at 1.35 versus 1.31 at start of February series.
10-year yield seen between 8.10-8.15%: Shenoi
The sentiment in the bond market is bearish as a result of upward movement in primary articles and fuel inflation, rise in global oil prices, tight liquidity situation and speculations regarding higher borrowing programme next fiscal. The 10-year yield is seen between 8.10-8.15%, says Mohan Shenoi, Kotak Mahindra Bank.
F&O cues: Nifty Open Int PCR at 1.35
F&O cues: Nifty Open Int PCR at 1.35 versus 1.31 at start of Feb series.
Rupee will remain under pressure: Brahmbhatt
The rupee will remain under pressure ahead of Budget due to uncertainty in the market. Higher outflows may also impact the currency. The range for the day is seen between 45.25- 45.50/$, says Pramit Brahmbhatt, Alpari India.
Market cues: FIIs net sell $2.9 mn
Market cues: FIIs net sell USD 2.9 million in the cash market on Feb 23.
DIIs net buy Rs 1,030 cr in equities on Feb 24 (prov)
FIIs were net sellers of Rs 4,824 crore in F&O. They were net sellers of Rs 497 crore in Nifty Futures and net sellers of Rs 4,074 crore in Nifty Options on February 24.
India looks most vulnerable: UBS
India is the most vulnerable Asian country to an oil shock while Malaysia is the least, says Niall Macleod of UBS.
Asian markets trading firm; Hang Seng, Nikkei up
At 7: 49 am (IST), Asian markets were trading firm. Hong Kong's Hang Seng added 0.84% or 190.84 points at 22,791.88. Japan's Nikkei was up 0.22% or 22.97 points at 10,475.68. Singapore's Straits Times added 0.62% or 18.57 points at 2,991.65.
US mkts recover from day's low as crude cools off
The Dow Jones Industrial Average ended down 37 points at 12,068, after seeing recovery of 85 points from day's low of 11,983.
Indian ADRs: MTNL down 5.6%, Dr Reddys down 3%
Indian ADRs ended mostly down on Thursday. In the IT space, Infosys was unchanged at $ 66.52, Wipro was down 1% at $ 12.85 and Patni Computers was unchanged at $ 19.80.
Crude slips from two and half year highs
Crude prices slipped from its two and half year highs near USD 120 a barrel in a late-day rout yesterday, dragged down by Saudi Arabia's assurances it can counter Libyan supply disruptions. It is trading at USD 96.92 per barrel.
Wall Street ends mixed; Crude at $ 97/bbl
In the US, mid-session retreat by oil prices helped the major averages rebound and end mixed after early weakness. Intra-day, the Dow slipped below the 12,000 line and the S&P 500 probed the 1294 zone but the Nasdaq managed to limit its loss and remain above its prior session low.
NAVs decline on fall in markets
Equity diversified NAVs ended lower with advance:decline ratio of 2:255 as the Indian equity benchmarks shattered on the back of a sharp spike in crude oil prices in international markets on Thursday.
Alaska harvests most US commercial seafood
If it were a separate nation, Alaska would rank as the 14th biggest seafood producer in the world, according to a new study.
Etisalat sees Zain financing, due diligence on track
UAE telecoms firm Etisalat said it will complete bank financing and due diligence for its planned USD 12 billion acquisition of Kuwait's Zain by the end of February.
Royal couple in spotlight at first official visit
Prince William and bride-to-be Kate Middleton performed their first official engagement as a couple on Thursday, giving them an early taste of the life in the spotlight that awaits them.
Decision on Harshad Mehta scam fund on Friday: Govt sources
A trail on the Harshad Mehta stock market scandal of 90s is not yet over even after his death. Harshad Meta was arrested for dipping illegally into the banking system to finance his share buying. According to the government sources, the final decision on distribution of his Rs 2,250 crore funds is to be made this Friday, reports CNBC-TV18.
MphasiS Q1 cons net profit down 15% at Rs 227 cr
MphasiS has declared its first quarter results. The company's consolidated net profit was down at Rs 227 crore versus Rs 268 crore.
UBS repeat unlikely as Credit Suisse bankers probed
US and German action against Credit Suisse bankers suspected of helping clients dodge tax look unlikely to escalate to the kind of case that helped bring local rival UBS to its knees.
Gvk Power & Infra subsidiary signs concession agreement with Gujarat State Road Development Corp
Gvk Power & Infra subsidiary has signed concession agreement with Gujarat State Road Development Corp for six laning of existing three lanes.
India gold futures hit new record
India's most-active gold futures on the Multi Commodity Exchange (MCX) recovered from its early losses to hit a record high of Rs 21,112 per 10 grams, helped by a weaker rupee and firm overseas leads.
Trade accelerated in major economies in Q4 2010 - OECD
International trade picked up in the last three months of 2010 when growth in Chinese imports far exceeded its exports, reducing the country's trade surplus, the Organisation for Economic Cooperation and Development said on Thursday.
