co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
The profit booking was seen across commodities. Crude was at a week low and Brent crude remained below USD 100/barrel. Nymex was down 2% to USD 87.5/bbl.
In FY12, we expect GDP growth to decelerate to 8.2%, as consumption growth moderates, says Chetan Ahya of Morgan Stanley.
Market cues: FIIs net buy USD 49.2 million in the cash market on Feb 04.
Higher crude prices are largely priced in, but given India's sensitivity to oil prices, the market is likely to stay nervous given the risk of Middle East tensions escalating further.
At 7: 52 am (IST), Asian markets were trading lower. Hong Kong's Hang Seng was down 0.20% or 48.22 points at 23,505.37. Singapore's Straits Times was down 0.19% or 5.99 points at 3,186.19. South Korea's Seoul Composite shed 0.23% or 4.79 points at 2,076.95. Taiwan's Taiwan Weighted fell 0.21% or 19.62 points at 9,125.73.
The high-risk, early-stage funding space continues to see a lot of action. IndiaCo, a BSE-listed private equity firm, has floated a hybrid venture capital company poised to incubate and fund startups.
Oil prices fell to a 1-week low, settling at around USD 87 per barrel mark as Egyptian tensions subside, reducing concerns over supply disruptions. It is trading at USD 87.48 per barrel.
Indian ADRs ended mostly in green on Monday. In IT space, Infosys was up 1.57% at $ 68.74, Wipro was up 0.23% at $ 13.13 and Patni Computers was up 0.25% at $ 20.
Paul Capital, a leading global investment firm focused on the private equity secondary market, today said that it has retained private equity industry veterans Anand Sunderji and Akshat Shukla as regional sourcing agents for India.
The Dow Jones Industrial Average ended up 70 points at 12,162. The Nasdaq Composite was up 15 points at 2,784 and S&P 500 index went up 8 points at 1,319.
The US markets reached multi-year highs boosted by positive earnings. Markets gained further support as President Obama said he wanted to lower the corporate tax rate and eliminate tax loopholes.
FIIs were net buyers of Rs 132 crore in Nifty futures and buyers of Rs 315 crore in Stock futures.
Ingersoll Rand has reported profit after tax of Rs 15.4 crore for the quarter ended December 2010, up 10% as compared to Rs 14 crore in same quarter the previous year.
Century Plyboards India has reported consolidated net profit of Rs 26.8 crore for the quarter ended December 2010 as against Rs 31.4 crore in same period the previous year.
Equity diversified NAVs ended lower with advance:decline ratio of 27:216 as markets ended flat on a tepid note on Monday after a dismal start to the February series last week.
CB Bhave, the outgoing chief of market regulator Sebi, today said it was the institution that was supreme and not the person heading it.
New Delhi, Feb 7 (PTI) Buoyed by high foodgrains production, the country's farm sector is expected to grow at 5.4 per cent in the current financial year, as against 0.4 per cent a year ago.
Mumbai, Feb 7 (PTI) Market regulator Sebi today said that new norms for takeover of companies, as also for ownership and governance issues of stock exchanges, would take some time as they need more deliberations, including by the government.
New Delhi, Feb 7 (PTI) The Centre today asked state governments to plug loopholes in the public distribution system (PDS) and increase storage capacity before the enactment of the proposed National Food Security Act.
New Delhi, Feb 7 (PTI) The government has set up the Inter-Ministerial Group (IMG) to suggest measures to control spiralling prices, particularly of food articles, almost three weeks after the announcement of forming such a body.
US commerce secretary Gary Locke expressed concern on Monday over India's restrictive trade policy, saying it impeded investment despite growing economic and security ties between the two nations.
New Delhi, Feb 7 (PTI) Helped by robust economic growth, the government collected Rs 3,17,501 crore from direct taxes during April-January 2010-11, up 20.37 per cent from the year-ago perod.
Chief Statistician TCA Anant said had the GDP estimates been calculated on the 7.4% (before it was revised to 8% resulting in higher base) one would find out that the growth rate would have been over 9% for 2010-11.
Moser Baer India Ltd's US unit said on Monday it has entered into an agreement with Universal Display Corp for technology licensing and material supply for Moser Bear's foray into organic light emitting diodes.
IT services provider Cognizant Technology Solutions Corp forecast 2011 results above Wall Street estimates, after beating the market with a solid fourth quarter, as it continues to ride the recovery wave seen by its clients.
