Sensex Down 186 Pts; Apr Inflation Eases To 8.66%, But Rate Hike Seen In June

Monday, May 16, 2011 Click here for India Business Update Mobile Version LEAD STORIES FUEL PRICE, INFLATION SPOOK MKT; SENSEX DOWN 186 PTS Petrol price hike coupled with inflation fears haunted markets. Sensex closed at 18,345.03 points. Nifty ended at 5,499 down 45.75 points. read more APR INFLATION EASES TO 8.66%, BUT RATE HIKE SEEN IN JUNE Inflation eased in April from upwardly revised 9.04% in March and 9.54% in February, but rising fuel prices might force RBI to hike rates in June. read more TOP STORIES • Govt distances itself from decision on petrol price hike • Rupee falls by 29 paise, hits 2-mth low at Rs 45.15/$ • Cairn-Vedanta: GoM to meet 7 days after deadline • Nasdaq drops offer for NYSE, clears way for Deutsche • Not 69, only 15 licences liable for cancellation: DoT • Govt looking to hike PF interest rate beyond 9.5% • 3i Infotech arm sells U.S. payments unit for Rs 617 cr • Actis may sell 66% stake in Halonix for $60 mn • Axiata in talks to sell 5% Idea stake to PE players • Bhasin quits as Genpact CEO; Tyagarajan takes over • SEBI relaxes brokers' access to client accounts • Toyota Kirloskar to resume ops earlier than expected • Power Finance sets issue price of share sale at Rs 203 • SAIL share sale on June 14, aims to raise Rs 6,000 cr • Diesel consumption in April lowest since Sept 2010 • New index for measuring industrial output approved • Yash Birla ups stake to 99% in Kerala Vaidyashala JV • Jayalalithaa sworn in as Tamil Nadu CM for third time • Glenmark, Sanofi ink licensing deal for $613 mn • Strauss-Kahn awaits arraignment in sex assault case more stories TOP VIDEOS We Will Begin The Second Half Of The Year With A Very High Inflation: Samiran Chakrabarty, Head Of Research, Standard Chartered Bank Expecting 9% Growth Unrealistic: Sanjay Nayar, CEO & Country Head, KKR India Post Petrol Price Hike, Under-Recovery At Rs 5/Litre: SK Joshi, Director-Finance, BPCL AT A GLANCE BSE 18345.03 -186.25 NSE 5499 -45.75 TURNOVER Rs. 109,766 cr BSE CASH Rs. 2,067 cr NSE CASH Rs. 8,346 cr NSE F&O Rs. 99,352 cr BULLION GOLD 22076 +115 SILVER 53624 -92 CRUDE NYMEX 102.25 -0.08 BRENT 113.48 -0.35 FOREX $ / Re 45.15 +0.29 £ / Re 73.215 +0.56 € / Re 64.158 +0.83 EVENTS 17 May Hearing In SEBI-Sahara Case 18 May CII's 3rd International IFRS Summit 2011, Taj Mahal Palace, Mumbai 18-19 May Power Sector Conference On Issues & Opportunities, The Imperial, New Delhi 19 May Cairn Energy Annual General Meeting 20-22 May Build India 2011, Surat International Exhibition & Convention Centre, Gujarat EXPERT VIEWS "The product (petrol) was deregulated and the revision in the fuel rate was done by the oil marketing companies. It was for the petroleum companies to decide at what point of time they will do so. When we deregulate it, then we have to leave it to the judgement of the OMCs." Pranab Mukherjee Finance Minister "(On 2G scam) We are sure they (Income Tax Department) would have slept over it (if Supreme Court had not intervened). There is no doubt about it...How are they (the companies involved in 2G scam) big. What kind of mindset do you (I-T dept) have. Prima facie they all are tax evaders. Do not call them big. Do not insult the word." Justices GS Singhvi & AK Ganguly Supreme Court "Europe doesn't have a right to the director's chair, that's obvious. But in the current situation when the IMF is especially needed to fight the crisis in some euro states, the German government sees good reasons why there should be a good European candidate." Steffen Seibert Spokesperson, German Government WATCH OUT Storyboard Turns 10! From India's arrival on the world map as an advertising powerhouse to the unbundling of creative and media services, a lot has changed in the Indian advertising industry since 2001. In its second anniversary special, Storyboard chronicles the last decade from the industry's perspective, and finds out which campaigns and commercials will define the last 10 years. SHOW TIMINGS Tue 7:30 pm