Sensex Zooms 515 Pts On Global Rally; Rupee Gains 74 Paise To 48.75/$

Friday, Oct 28, 2011 SENSEX ZOOMS 515 PTS ON EUROZONE BAILOUT   The first day of Samvat 2068 began with a bang. Markets caught up with the global rally that began on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets. World stocks extended their gains and hit a three month high today. Sensex rose 3%, to close at 17,804.80. Nifty jumped 158.90 points to end at 5,360.70. (SEE RAKESH JHUNJHUNWALA INTERVIEW IN TOP VIDEOS). read more   LEAD STORIES RUPEE'S BIGGEST JUMP IN 17-MTHS, GAINS 74 PAISE TO 48.75/$ Completing straight 3-session of gaining, the rupee settled at 48.76/77, up by 74 paise, amid signs of fresh capital inflows after the euro zone deal. read more FM PRESSURED SEBI TO GO EASY ON RIL, SAVE RS 1,500 CR Former SEBI member KM Abraham, before demitting office, wrote an anguished letter to PM about pressure from FM and his advisor. read more FBI CASE AGAINST RAJAT GUPTA NOT AS SOLID AS IT LOOKS Former CBI director RK Raghavan says that the only evidence against Rajat Gupta is the telephonic conversation between him and Rajaratnam. read more TOP STORIES • SEBI looking at new investment fund code   • Food inflation at 11.43% as on Oct 15   • Gold regains Rs 28,000-mark   • FDI inflows up 50% at $21 bn during Jan-Aug   • AI pilots warn of strike to protest delayed payment   • Maruti faces 4% cancellation of Swift orders   • New drug pricing policy up for debate: Dept of Pharma   • CITU opposes new Manufacturing Policy   • SBI expects 100-125 bps rise in savings bank fund costs   • Nigerian regulator warns Airtel, MTN on poor service   • ONGC to buy stake in NPCIL power plants   • RBI penalises two cooperative sector banks   • BGR Energy slapped notice for service tax evasion   • NREGS funds: Jairam reacts as Maya writes to PM   • Env Min refuses clearance to Chennai Petro pipeline   • Unease in Team Anna; Hazare hints at revamp   • F1 fever: Metallica concert postponed till tomorrow   • Formula 1 Grand Prix to generate Rs 10,000 cr biz   • Samsung beats Apple in smartphones, upbeat on Q4   • Microsoft world's best company to work for: Study   TOP VIDEOS FY12 Has Been Worst Trading Year Of My Life: Rakesh Jhunjhunwala, Investor   The 50 Basis Point Hike Will Impact Us By Rs 1,500 Cr: Pratip Chaudhuri, Chairman, State Bank Of India   Govt Unlikely To Be Able To Achieve Fiscal Deficit Target: Chetan Ahya, Executive Director & Economist, Morgan Stanley   Clarity On Global Issues Needs To Improve, Before The Market Goes To A Much Higher Level: R Sukumar, MD & CIO, Franklin Asian Equities, Franklin Templeton   AT A GLANCE BSE 17804.8 +515.97 NSE 5360.7 +158.9 TURNOVER Rs. 113,171 cr BSE CASH Rs. 2,448 cr NSE CASH Rs. 14,339 cr NSE F&O Rs. 96,383 cr BULLION GOLD 27610 -238 SILVER 57004 -855 CRUDE NYMEX 92.55 -1.41 BRENT 110.22 -1.86 FOREX $ / Re 48.755 -0.74 £ / Re 78.383 -0.49 € / Re 68.896 -0.58 EVENTS 30 October Formula One India Grand Prix, Buddh International Circuit, Greater Noida 31 October National Conference On Civil Aviation: The Decade Ahead, Hotel Maurya, New Delhi 2 November Morningstar Investment Conference, The Lalit, Mumbai 3 November Panel Discussion On 'Effective States, Inclusive Growth, And The Challenges Of Governing India?', New Delhi India Pharma Inc.: Enhancing Value through Alliances and Partnerships, Mumbai (On former McKinsey head Rajat Gupta's arrest)"As alleged, he broke that trust and instead became the illegal eyes and ears in the boardroom for his friend and business associate, Raj Rajaratnam, who reaped enormous profits from Gupta's breach of duty." Preet Bharara Manhattan U.S. Attorney "The National Manufacturing Policy is a well-thought process. Given India's population, agriculture may not be able to provide large-scale employment like the manufacturing sector, which is a proven wealth creator even in rural areas. With the State Governments acquiring the land and all basic clearance accorded in a time bound manner, investments are expected to flow, once the policy is cleared by the Parliament." B Muthuraman President, CII "It was a mistake to let Greece join the euro single currency when it did because its economy was not ready to form a monetary union with others in the club. If Greece had gone bankrupt, there would have been a domino effect that would have affected everybody. The entire euro zone risked being taken down." Nicolas Sarkozy President, France