INDIA BUSINESS UPDATE - Sensex Falls 288 Pts; Govt To Ok Cairn-Vedanta Deal On Stringent Conditions

Friday, Jan 28, 2011



SPECIAL LEAD
INVESTORS LOSE RS 11 LAKH CR SINCE DIWALI
Investors have lost a whopping amount of nearly Rs 11,00,000 crore in the stock market in less than 3 months since Diwali last year, with over Rs 3 lakh crore being wiped out in the past three days alone. Total investor wealth, measured in terms of cumulative market value of all listed stocks, today itself fell by over Rs 132,000 crore -- taking the loss for past three days to over Rs 300,000 crore amid macro-economic concerns emanating from inflationary and governance deficit related factors. read more
LEAD STORIES
SENSEX FALLS 288 PTS TO 5-MTH LOW
Sensex closed at 18,395.97 points on brisk selling in heavy-weight financial companies. Nifty dipped 92.15 points to settle at 5,512.15. read more
GOVT TO OK CAIRN-VEDANTA DEAL ON STRINGENT CONDITIONS
Vedanta will have to surrender all its rights in past and future disputes if it wants government nod for acquiring majority stake in Cairn India. read more
DAVOS DAY 3: U.S., BRITAIN SPLIT ON SPENDING CUTS
Britain and US laid out starkly different recovery strategies with one calling for deep spending cuts and the other warning against drastic action. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 18395.97 -288.46
NSE 5512.15 -92.15
TURNOVER
Rs. 143,145 cr
BSE CASH
Rs. 3,869 cr
NSE CASH
Rs. 14,993 cr
NSE F&O
Rs. 124,283 cr
BULLION
GOLD 19604 -74
SILVER 41610 -310
CRUDE
WTI 86.32 +0.68
BRENT 4469.89 +8.66
FOREX
$ / Re 45.76 +0.2
£ / Re 72.795 +0.23
€ / Re 62.705 +0.29
EVENTS
30 January
ICAI Awards 2010, For Excellence By CA's In Industry, Science City, Kolkata
31 January-2 February
Smart Energy India, The Lalit, New Delhi
1-2 February
8th Annual Conference On Ports In India, Grand Hyatt, Mumbai
3 February
Assocham 2nd International Coal Conference- Securing Future Needs, The Park, New Delhi
4 February
Foreign Investment Promotion Board Meet
4 February
MFA 2011, Taj Lands End, Mumbai
3-4 February
Conference On Infrastructure: The Global Growth Driver, Taj Bengal, Kolkata
8 February
2nd Food & Agri Exporters Conclave, ASSOCHAM House, New Delhi
8-9 February
4th Annual Conference On Renewable Energy In India, The Imperial, New Delhi
11-14 February
8th International Exhibition & Conference On Minerals Metals Metallurgy & Materials, Pragati Maidan, New Delhi
EXPERT VIEWS

"We need a revolution. Climate change is also showing us that the old model is more than obsolete. We are running out of time. Time to tackle climate change, time to ensure sustainable ... growth."

Ban Ki-moon
UN Chief
"This is a more volatile world. We have to get used to managing businesses and country policies taking into account the higher volatility. The world is becoming a dual-speed economy, with emerging markets growing faster than developed countries. This rebalancing is throwing up a new set of opportunities for everybody. We must understand these opportunities so that we can capitalise on them."

Chanda Kochhar
MD & CEO, ICICI Bank
"The real problem is the way we're (U.S.) spending money not the amount we're spending. What we really need to do is actually increase our spending on investments and cut back our spending on weapons that don't work against enemies that don't exist."

Joseph Stiglitz
Nobel Prize Laureate

WATCH OUT
Budget Report Card
As the countdown to Budget 2011 begins CNBC-TV18 brings to you the Budget Report Card, a show that looks at the unfinished reform agenda and the economic and political context that will set the tone for the Budget. This week meet Minister of State for Commerce & Industry, Jyotiraditya Scindia who says the govt is worried about the dip in FDI and expects the govt to allow FDI in multi brand retail in FY12.
SHOW TIMINGS
Saturday 9 am & 9:30 pm
Sunday 9 pm

CNBC-TV18 PROGRAMME SCHEDULE STOCKS & INVESTING INDIA EARNINGS PORTFOLIO
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