BofA to take $3 bln mortgage settlement charge
Bank of America Corp agreed to settle outstanding claims on poorly underwritten mortgages it sold to government sponsored entities Fannie Mae and Freddie Mac, and said it will put aside USD 3 billion in the fourth quarter related to the claims.
Asia factory output powers ahead, inflation worries weigh
Asian factory output powered ahead in December to underline emerging markets' lead in the global recovery although data showed an increasing inflation threat in the region even as growth is tepid in developed economies.
Factory output surges; exports boost euro zone
Factory output growth eased only slightly in Asia in December and offered an upbeat end to a fraught 2010 for the euro zone, with signs that growth in export orders was filtering through to the region's periphery.
Air India makes profit of Rs 2,166 crore in Nov
State-run Air India has made a cash profit of Rs 2,166 crore in November 2010, the carrier said on Monday adding it was a "record in recent times".
Support for Nifty at 6100: Gaba
The support for the Nifty is at 6100 and resistance at 6183-6200.
Stocks in news: HDFC Bk, Bajaj Hind, Jayaswal, Sun Pharma
HDFC Bank | Bajaj Hindusthan | Balrampur Chini | Jayaswal Neco | SEL Manufacturing | Peninsula Land and Sun Pharma are stocks, which are in the news today.
Market cues: FIIs net buy $137.6 mn in cash market
Market cues: FIIs net buy USD 137.6 million in cash market.
Ganeshaspeaks: Market prediction for Jan 04
Ganesha advises you to compare the next prediction with the prediction of the previous time slot.
Rupee likely to remain choppy: Vikram Nanivadekar
The rupee is likely to be choppy today on mixed overnight cues. The inability of other currencies to appreciate much against the dollar may hold traders back. The range for the day is seen between 44.55- 44.75/$, says Vikram Nanivadekar, Verity Analytics.
10-year yield seen between 7.98- 8.05%: Bagla
Tight liquidity and high inflation do not augur well for bonds. RBI's buyback may end next week and fresh auction supply has started in primary markets. The 10-year yield is seen between 7.98- 8.05%, says Sandeep Bagla, ICICI Securities Primary Dealership.
F&O cues: Total Nifty futures up Rs 1645 crore
F&O cues: Total Nifty futures was up Rs 1,645 crore and Options was up Rs 4186 crore.
Nifty will grind to a new high this year: An analysis
The markets are in a good grove and sentiment is bullish. Analysts believe Nifty will grind to a new high this year.
Crude rises to 27-month peak; trading at $ 91.47/bbl
In commodities - oil prices rose to a 27-month peak as upbeat European and US manufacturing data and forecasts for cold weather reinforced optimism about economic and energy demand growth. Currently it is trading at USD 91.47 per barrel.
Indian ADRs: MTNL gains 7.4%,Tata Comm up 5.5%
Indian ADRs ended mostly in green on Monday. In the telecom space, Tata Communication was up 5.55% at $ 11.98 and MTNL was up 7.41% at $ 2.65. In the banking space, HDFC Bank was up 1.43% at $ 169.50 and ICICI Bank was up 0.91% at $ 51.10.
Asian markets trading higher; Nikkei up 1.5%, Hang Seng up
At 7: 43 am (IST), Asian markets were trading higher. China's Shanghai Composite was up 0.15% or 4.13 points at 2,812.21. Hong Kong's Hang Seng was up 0.18% or 41.26 points at 23,477.31. Japan's Nikkei added 1.49% or 152.65 points at 10,381.57. Singapore's Straits Times gained 0.51% or 16.66 points at 3,252.43.
Wall Street at new two-year highs on strong economic data
In the US markets, stocks ended up nearly a percent or more as investors flocked to stocks, pushing the market to new two-year highs on the first trading day of the year. The S&P 500 closed at its highest levels since September.
US mkts end higher on strong economic data
The Dow Jones Industrial Average ended up 93 points at 11671. The Nasdaq Composite was up 39 points at 2691.5 and S&P 500 up 14 points at 1272.
SEBI moves SC in Sahara Group matter
Market regulator SEBI has moved the Supreme Court against a High Court order staying the Securities and Exchange Board of India's ban on a Sahara Group firm to raise funds from the public.
Banks agree to reschedule loans given to MFIs
There could be some reprieve for microfinance institutions. Banks have agreed to reschedule loans given to MFIs only after these companies decide to reschedule loans given to poor borrowers.
ICICI Bank increases base, prime lending rates
ICICI Bank has increased its base rate by 0.50% and prime lending rate by 0.25%.
SBI increases prime lending rate by 25 bps
SBI has revised the Benchmark Prime Lending rate upwards by 25 bps from 12.50% p.a. to 12.75% p.a. effective from January 03, 2011.
Amtek India approves dividend at 20%
Amtek India has approved the payment of dividend at 20% on the face value of Rs 2 per share i.e Rs 0.40 per share.
Dabur India arms acquires 100% stake in Namaste Group, US
Dabur wholly owned subsidiary, Dermoviva Skin Essentials Inc. has completed the acquisition process by acquiring 100% stake in Namaste Group, US.
Accumulate Jindal Poly Films: Unicon Investment
Unicon Investment is bullish on Jindal Poly Films (JPFL) and has recommended accumulate rating on the stock with a target of Rs 620 in its December 31, 2010 research report.
