2G Auction Opens To Tepid Response; DIWALI DAMPENER--IIP Numbers Slump, Exports Shrink, Rupee Turns Weaker, Inflation High And Samvat 2068 Ends On Flat Note

Monday, Nov 12, 2012

TEPID RESPONSE TO 2G AUCTION; MOP UP RS 9,222 CR  
Telecom spectrum auction opened Monday to a lukewarm response with key circles such as Delhi, Mumbai, Rajasthan and Kolkata finding no takers for spectrum in the 1800Mhz auction. By the end of day one, government had been left with just about 25% of the revenue target at Rs 9,222 crore. Only 55% of auctioned spectrum blocks had received bids. The government was looking to raise Rs 40,000 crore from the auction. There were no applications for pan-India spectrum, the base price for which was set at Rs 14,000 crore that the industry said was too high. Interest was seen in Uttar Pradesh (East) circle and Gujarat. read more  
LEAD STORIES
OCT EXPORTS FALL 1.6%, IMPORTS JUMP 7.37%  
October exports fell 1.6% to $23.2 bn, while imports jumped 7.37% to $44.2 bn, leaving a record trade deficit of $20.9 bn. read more
IIP BACK TO NEGATIVE GROWTH; SLIPS -0.4% IN SEPT  
After a positive 2.3% (revised) in Aug, Sept IIP fell on capital goods declining 12.5%, manufacturing by 1.5% and consumer durables by 1.7%. read more
MARKETS END SAMVAT 2068 ON FLAT NOTE  
A series of negative news like IIP, trade data amid weak global cues dampened market sentiment. Sensex fell 13.34 pts to 18,670.34. Nifty at 5,683.7. read more
FOOD, CLOTHING PUSH INFLATION UP 9.75% IN OCT  
With a spurt in sugar prices by 19%, and rise in prices of pulses and clothings, retail inflation moved closer to the double digit mark. read more
TOP STORIES
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AT A GLANCE
BSE 18670.34 -13.34
NSE 5683.7 -2.55
TURNOVER
Rs. 136,616 cr
BSE CASH
Rs. 3,787 cr
NSE CASH
Rs. 13,319 cr
NSE F&O
Rs. 98,356 cr
BULLION
GOLD 31868 +225
SILVER 61262 +342
CRUDE
NYMEX 86.15 +0.08
BRENT 109.78 +0.38
FOREX
$ / Re 54.88 +0.13
£ / Re 87.049 +0.26
€ / Re 69.709 +0.33
EVENTS TO WATCH
13 November
MUHURAT TRADING -- BSE, NSE From 3.45pm To 5pm
Commodity Exchanges From 5.30 pm to 8 pm
16-17 November
HT Leadership Summit
18 November
MCX-SX To Inaugurate Trading Infrastructure
21 November
Assocham's 8th Annual Banking Summit, Taj Mahal, Mansingh Road, New Delhi
22 November - 20 December
Winter Session Of Parliament
"Government's intentions are not correct. When CAG was coming out with strong reports, government tried to suppress it. The politicians should not decide about the selection of members of the CAG. Even the Opposition should not have a say in the selection of CAG."

Arvind Kejriwal
Activist-Politician
"The (IT)industry has been able to grow despite a challenging environment. A few reasons that we could not meet the upper end of the guidance was the currency movement, and also because several of the global in-house captives have been going through an internal efficiency measure, several have also put a freeze on their hiring targets."

Som Mittal
President, NASSCOM
"My health is not that good, but I have not completely collapsed. I am not on a ventilator. I have nothing to hide on this issue. During the Dussehra rally last month, I took my party activists into confidence and made it clear publicly that my health was not too good."

Bal Thackeray
Shiv Sena Chief



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