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Mexican billionaire Carlos Slim remained the richest person in the world with USD 74 billion in assets, while NRI steel magnate Lakshami Mittal ranked sixth and Indian industrialist Mukesh Ambani is placed ninth in the US magazine Forbes annual list of world''s top billionaires.
From opening to 11:20, Nifty may hover around surface or be soft, foresees Ganesha.
Forbes Magazine has revealed its precious list of top billionaires for 2011. According to the list, NRI steel tycoon Lakshmi Mittal and Indian industrialist Mukesh Ambani, chairman and managing director of Reliance Industries are amongst the richest top 10.
A Libyan insurgent said rebels had retaken the heart of the closest city to the capital from forces loyal to Muammar Gaddafi on Wednesday evening in some of the fiercest fighting in almost three weeks of clashes.
Brent oil prices jumped on Wednesday, weighing on global stocks, as escalating violence in Libya increased fears higher energy costs could choke the global economic recovery.
Kotak Mahindra Bank Ltd has formed a three-way partnership with Japan’s largest bank Sumitomo Mitsui Banking Corp.
Every USD 10 increase in crude prices increases the fiscal deficit by 0.17-0.24% depending on the proportion of under-recovery absorbed by the govt. The recent underperformance of the Indian market shows a welcome return to sanity.
The coming session is likely to witness a resistance at the 5575 levels on advances above which the 5625 maybe tested. Support is likely at the 5475 below which the 5435 levels maybe seen.
According to a report by Angel Broking, if Nifty trades below 5524 levels for the first half-an-hour of trade then it may correct up to 5485-5438 levels.
The Brent prices rebounded to USD 116 as intense fighting in Libya stoked more supply worries. Upmove has been seen in Nymex prices as well after they slipped overnight on higher inventories.
The crucial support on the Sensex on the downside is 18103 and resistance at 18592.
Lack of fresh bond supply, improvement in liquidity, soft Asian rates and likely demand from FIIs are the key positives for the bond market, says Ananth Narayan, Standard Chartered Bank.
Amidst mixed signals from the overseas market, the rupee is expected to trade in a narrow range. The range for the day is seen between 44.95-45.05/$, says Ssharad D Pawaar, CEO, SPFX India.
F&O cues: Total Futures Open Int up Rs 1238 crore and Total Options Open Int up Rs 1324 crore.
Market cues: FIIs net buy USD 81.6 million in the cash market on Mar 08.
At 7: 50 am (IST), Asian markets were trading lower. China's Shanghai Composite shed 0.85% or 23.58 points at 2,976.77. Hong Kong's Hang Seng fell 0.29% or 69.34 points at 23,740.77. Japan's Nikkei plunged 1.09% or 115.69 points at 10,473.81. Singapore's Straits Times was down 0.70% or 21.53 points at 3,071.37.
Indian ADRs ended mixed on Wednesday. In the IT space, Infosys was down 0.35% at $ 68.68, Wipro was up 0.52% at $ 13.65 and Patni Computers was up 0.85% at $ 20.16.
The US markets closed slightly lower after struggling in a narrow range amid light trading. The Brent prices rebounded to USD 116 as intense fighting in Libya stoked more supply worries. Upmove has been seen in Nymex prices as well after they slipped overnight on higher inventories.
The Dow Jones Industrial Average ended down 1.3 points at 12,213, after seeing recovery of 60 points from day's low.
In today’s Data watch we look at shares pledged by Tata Group in the last quarter (October-December).
RBI releases its Monthly RBI Bulletin for March 2011
Equity diversified NAVs ended higher with advance:decline ratio of 221:30 as the Indian equity benchmarks were quite rangebound in trade on Wednesday on lack of global cues.
Giant 400,000-tonne dry bulk carriers being introduced by Brazilian miner Vale for iron ore could be used for coal in the next few years, India's biggest trader Adani and coal shipping companies said.
Loop Telecom today made an offer in the Supreme Court to surrender its 2G licence along with spectrum for 21 circles.
An ordinary American investor would probably not put money into a foreign electric car start-up suspected of openly copying competitors, let alone one whose franchised dealers occasionally put other companies' logos on its own vehicles.
