| Thursday, Feb 24, 2011 |  | | | | | | | SENSEX TANKS 545 PTS AS OIL PRICES SHOOT UP
It was Black Thursday for the market as Sensex crashed to 17,632.41 points while Nifty plummeted 174.65 points to close at 5,262.70. There was all-round selling on the back of sharp spike in crude oil prices owing to unrest in Libya, which analysts fear could spread over to other oil producing countries in the Middle East like Saudi Arabia. Brent crude rallied as much as $8.54 a barrel to a peak of $119.79. The contract has risen nearly 14% in four days. U.S. crude for April delivery rose to $103.41, its highest since September 2009. Midcap and Smallcap indices tanked 3%. All sectoral indices were butchered badly with bank and capital goods indices plunging 4% while auto, realty, metal, healthcare, oil & gas, power, FMCG and IT indices were down 2-3.5%. Heavyweights RIL, ITC and ONGC plunged over 3%, ICICI, Axis Bank and HDFC cracked 5%, SBI was down 3.4% and HDFC Bank down 2.6%. Tata M otors was the biggest loser on Nifty with 8% fall. Infrastructure shares like L&T and BHEL fell 5% and 2%. read more | | | | | | | | AT A GLANCE | | BSE | 17632.41 | -545.92 | | NSE | 5262.7 | -174.65 | | TURNOVER Rs. 299,377 cr | | BSE CASH Rs. 3,490 cr | | NSE CASH Rs. 18,066 cr | | NSE F&O Rs. 277,821 cr | | | | BULLION | | GOLD | 21060 | +76 | | SILVER | 49865 | -163 | | | | CRUDE | | WTI | 100.18 | +2.08 | | BRENT | 5221.1 | +208.52 | | | | FOREX | | $ / Re | 45.47 | +0.34 | | £ / Re | 73.607 | +0.58 | | € / Re | 62.712 | +0.8 | | | EVENTS 25 February
Railway Budget & Economic Survey 25 February
Seminar On Sustainable Business Growth Focusing On SMEs, Panaji, Goa 25 February
M3, Bank Deposits & Credit As On February 11 To Be Detailed By RBI 25 February
CII Steel Summit Inaugural Session, ITC Maurya, New Delhi 26 February
National Advisory Council Meeting 28 February
Annual Budget For 2011-12 To Be Presented In Parliament 28 February
CPI For Industrial Workers For January To Be Detailed By Labour Bureau 28 February
GDP Estimates For October-December Quarter To Be Detailed By CSO | | | | | EXPERT VIEWS | | | "People talk of scams, if there is a scam it has to be looked into and action should be taken against those involved in it. If people start doubting intentions then it is not good for parliamentary growth. No wrongdoer will be spared. Nobody will escape the law...The Government will do everything to clean the public life of corruption."
Manmohan Singh
Prime Minister "...Are we to understand that while all this was happening (S-Band), the PMO despite participating of all senior officials including the Minister of State was completely unaware that a valuable public asset is being placed in hands of an Indian company which is an arm of an American company and at an inadequate consideration and we were completely unaware of this."
Arun Jaitley
BJP Leader "It's almost kind of a global crisis with oil going to about $120 and still climbing. In just 10 days, things have changed so dramatically in the global economy and we are 80% dependent on the global imports of oil, so we are particularly kind of impacted. If this problem gets prolonged, I think reaction of the investors in the given condition is very logical."
Raamdeo Agrawal
MD, Motilal Oswal | | | WATCH OUT |  Development Agenda This week we discuss financial inclusion. Over 40 years after bank nationalization, less than 30% of India's 1.2 billion populations have access to even basic financial services. Can this change? And what needs to be done to achieve greater financial inclusion? Is financial inclusion just credit for the poor - a plain vanilla bank account and discounted interest rates? | SHOW TIMINGS Friday 5:30 pm
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