SENSEX ZOOMS 440 PTS, REGAINS 16K ON VALUE-BUYING


Friday, Oct 07, 2011

SENSEX ZOOMS 440 PTS, REGAINS 16K ON VALUE-BUYING
Shocking ratings downgrade from Moody's, first on SBI, and then, 21 European banks spooked the financial sector across the globe. Bank Nifty recorded fresh 52-week lows this week, and there is still more downside in the near term. Sensex, which had lost 905 points in the last four trading sessions, bounced back by 440.13 points to close at 16,232.54. Nifty gained 136.75 points at 4,888.05. Metals, banks, realty, capital goods and auto stocks were star performers of the day. All BSE sectoral indices ended in green. read more  

LEAD STORIES
SLOWDOWN IMPACTS CUSTOMS, EXCISE COLLECTIONS IN SEPT  
Hit by slowdown and reduction of duty on petroleum goods, customs and central excise collections declined during September. read more
IS RBI'S GUV AMONG WORLD'S WORST CENTRAL BANKERS?  
In the a recent list of the world's top central bankers by Global Finance magazine, RBI Governor D Subbarao figures in the bottom 10. read more

TOP STORIES

TOP VIDEOS

AT A GLANCE
BSE 16232.54 +440.13
NSE 4888.05 +136.75
TURNOVER
Rs. 115,344 cr
BSE CASH
Rs. 1,904 cr
NSE CASH
Rs. 10,917 cr
NSE F&O
Rs. 102,522 cr
BULLION
GOLD 26489 -21
SILVER 53692 +455
CRUDE
NYMEX 83.6 +1.01
BRENT 105.81 +0.08
FOREX
$ / Re 49.155 -0.19
£ / Re 76.435 +0.59
€ / Re 66.087 +0.1
EVENTS

10 October
2G Case: Next Hearing In Supreme Court
CII Meeting With H.E. Mr Martin Kocourek, New Delhi


10-11 October
National Forum On Sharing Of Best Practices On Intellectual Property For Micro, Small And Medium Sized Enterprises, New Delhi


11 Octorber
FCCB Case: Bombay HC To Hear Wockhardt Issue
Trade Board To Review Export Performance


12 October
Conclave On Healthcare And IPR Post 2005 Amendment, New Delhi

EXPERT VIEWS

"Notwithstanding all claims, the deputy chairman of the Planning Commission has announced that they will neither alter nor withdraw its affidavit in the Supreme Court as it was 'factual'. A diabolic fraud that is perpetuated against the aam admi. What the government is measuring through these sham exercises of concern is the destitution levels of our people, not poverty levels...stop this theatrics".

Sitaram Yechury
CPM leader
"China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries, particularly the United States. Currency manipulation is one example of it...My main concern ... is whatever tools we put in place, let's make sure that these are tools that can actually work, that they're consistent with our international treaties and obligations."

Barack Obama
U.S. President
"If Europe wasn't out there...we would not be having the threat to our overall economy. The size of the problem coming from Europe รข€" I don't think it could be overestimated. Economists who feel comfortable they can split the effects of Europe from the rest of the forces that generally impact the United States hasn't been around very long, I'm afraid."

Alan Greenspan
Former Chairman, Federal Reserve

WATCH OUT  
Global Turmoil: Views from the Continent  
After years of excessive spending and piling up massive sovereign debt, Europe is facing a financial crisis. As the European dominoes fall, what the ramifications for trade, finances and investor confidence across the world? Udayan Mukherjee engages the leading experts on investing in emerging markets, to understand how the turmoil in Europe can impact investments in India.
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