ECB`s Bond-buying Plan helps sensex by 337 pts

riday, Sep 07, 2012 SENSEX ZOOMS 337 PTS ON ECB'S BOND-BUYING PLAN   Led by ICICI Bank and Reliance Industries, the markets surged across-the-board on buying by funds after European Central Bank announced a potentially unlimited bond-buying plan yesterday to revive Eurozone's ailing economies. This was the biggest single-day gain in the last two months. Another reason behind today's rally was the hopes of fuel price hike. Sensex closed 17,683.73 while Nifty soared 103.70 pts to 5,342.10. Investors were richer by about Rs 85,000 cr. read more   LEAD STORIES MONSOON SESSION WASHED OUT; BJP DEFENDS IT   BJP defended the washout of Monsoon Session of Parliament, saying the 2010 impasse on 2G spectrum issue led to 'cleansing' of the telecom sector. read more OBSTRUCTIONIST POLITICS HURTING COUNTRY: PM   PM Manmohan Singh slammed BJP, saying obstructionist politics amounts to "total negation" of democracy and is hurting efforts to revive growth. read more OBAMA SEEKS RE-ELECTION: "HARDER PATH TO BETTER PLACE"   President of America Barack Obama pledged to keep rebuilding a battered economy in a way that "may be harder but it leads to a better place." read more TOP STORIES • Cong MP Naveen Jindal blames govt for coal scam   • No immediate plan to hike fuel prices: Jaipal Reddy   • Gold slips to Rs 31,302/10 gm on profit-booking   • Re rises to 2-week high; up 30 paise to end 55.36/$   • Hershey to buy Godrej's 49% stake in Godrej-Hershey JV • L&T, TCS, HUL in world's most innovative cos list   • Telcos can bid for new bands in Nov auction: Secy   • Cost overrun crossed Rs 52,000 cr on proj delays: Govt   • Coal Scam: 28% of BHEL orders at risk says Nomura   • Diageo may seek to buy upto 25% stake in USL   • FIPB okays Warburg Pincus' $145 mn investment plan   • Govt suspends 155 mining leases for violation of rules   • To fix patented drug prices only after talks with cos   • Illegal mining: Ex-Goa chief minister Kamat indicted   • Renault launches Scala sedan at Rs 7 lakh   • BCCI may change rules to make Jaitley prez in 2014   • 18,000 mobile phones using same IMEI number found   • China approves $157 bn infrastructure spending   • U.S. unemployment rate falls to 8.1%   • Amazon takes on Apple with Kindle Fires   more stories TOP VIDEOS We Have Just Ended A Wasted Session...This Is Making A Mockery Of Parliamentary Democracy: Manmohan Singh, Prime Minister   I've Worked With Business Leaders Who Are Bringing Jobs Back To America: Barack Obama, President, U.S.A.   U.S. Growth Will Be Not Even 2% By The Fourth Quarter; Expect A Third Round Of QE3: Nouriel Roubini, Chairman, RGE   AT A GLANCE BSE 17683.73 +337.46 NSE 5342.1 +103.7 TURNOVER Rs. 129,359 cr BSE CASH Rs. 1,805 cr NSE CASH Rs. 9,847 cr NSE F&O Rs. 106,784 cr BULLION GOLD 31988 +521 SILVER 63940 +1601 CRUDE NYMEX 94.97 -0.56 BRENT 112.99 -0.5 FOREX $ / Re 55.36 -0.3 £ / Re 88.576 -0.11 € / Re 70.735 +0.42 EVENTS TO WATCH 8 September BSE, NSE To Remain Open For Trading 11 September SC To Hear Novartis Plea Over Drug Patents, New Delhi 12 July July Industrial Output Data 14 September August Headline Inflation 17 September RBI Credit Policy 18 September RBI Governor D Subbarao To Appear Before JPC On 2G

EXPERT VIEWS

"There are no immediate proposals with regard to the prices of various oil products including petrol. We are facing a tremendous crisis of unprecedented magnitude. We will have to take some difficult and painful decisions. However, there are no immediate plans." Jaipal Reddy Oil Minister "We have great respect for the CAG. However, if we respect it, we should be willing to discuss its reports in the House and at the PAC. This (disruption of Parliament) is negation of democracy, violation of norms of Parliament and the Constitution as we have understood it. I would like the countrymen to make up their mind if this is the way that democracy functions." Manmohan Singh Prime Minister "And now you have a choice: we can give more tax breaks to corporations that ship jobs overseas, or we can start rewarding companies that open new plants and train new workers and create new jobs here, in the United States of America." Barack Obama President of America

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