Sensex Surges Nearly 500 Pts On Rate Cut Hopes | RBI Sends Showcause Notices To ICICI, HDFC & Axis Bank

Wednesday, May 15, 2013

SENSEX SURGES NEARLY 500 PTS ON RATE CUT HOPES  
Sensex and Nifty surged around 2.5% to their highest close since January 2011, Sensex closed at 20212.96 up 490 pts after touching a 28-month high of 20241.96. Nifty closed at 6146.75, up 151 pts after touching a 28-month high of 6157.10. Interest rate sensitive sectors like realty, banking, capital goods and auto led the powerful rally. Punjab National Bank, HDFC, DLF, IndusInd Bank, Reliance Infra, M&M, SBI and ICICI Bank were the big gainers rising between 3% to 7%. The total turnover for the day was Rs 2,18,568.42 cr. read more  
LEAD STORIES
RBI SENDS SHOWCAUSE NOTICES TO ICICI, HDFC & AXIS BANK 
After a probe into the videotape-backed allegations of money laundering, RBI confirmed diverse violations of regulatory norms by these banks. read more
KEJRIWAL ATTACKS SIBAL OVER VODAFONE MOVE 
Kejriwal alleges Kapil Sibal has conflict of interest as his son has been a counsel for Vodafone. Amit Sibal has denied the allegation against him. read more
INFY CEO, SD SHIBULAL TAKES 26.5% SALARY CUT IN FY13 
The cut was due to a steep reduction in bonus component which fell by 70%, on board aligning compensation of employee directors in line with others. read more
GOLD SUFFERS 2ND BIGGEST FALL THIS YR, PLUNGES BY RS 600 
Gold price plunged to Rs 27,300 per 10 grams on reduced offtake amid weak global trend. Silver prices too dropped by a massive Rs 800 to Rs 44,700/kg. read more
TOP STORIES
TOP VIDEOS
AT A GLANCE
BSE 20212.96 +490.67
NSE 6146.75 +151.35
TURNOVER
Rs. 219,240 cr
BSE CASH
Rs. 2,195 cr
NSE CASH
Rs. 13,216 cr
NSE F&O
Rs. 186,818 cr
BULLION
GOLD 26250 -457
SILVER 43080 -1436
CRUDE
NYMEX 92.3 -1.91
BRENT 101.76 -0.84
FOREX
$ / Re 54.78 -0.03
£ / Re 83.337 0
€ / Re 70.403 -0.38
EVENTS TO WATCH
15-26 May
Cannes Film Festival, France
16 May
Hearing On Sterlite Smelter Case
IMG Panel On Chit Funds, NBFC Norms
U.S. Weekly Jobless Claims Data
IPL 6, Match 62, Kings Eleven Punjab Vs Delhi Daredevils, Dharmasala
16-18 May
Heat Treat & Surface Engineering Expo, Chennai
17 May
The Manufacturing I.T. Summit, Mumbai
17-19 May
World Children Expo, Gurgaon

"Kapil Sibal says he will sort out the tax liability on Vodafone and Hutchison in an outside court settlement. We have learnt that Kapil Sibal's son is Hutchinson's lawyer. The question arises whether a portion of Rs 2,000 crore has gone to Sibal."

Arvind Kejriwal
Leader, Aam Aadmi Party
"The imperative to contain gold import has become urgent. The recent surge in gold demand is however creating some distortions and need to be rolled back to boost growth by reversing the trend of declining financial savings and keeping CAD within prudent limit by containing gold demand."

C Rangarajan
Chairman, PMEAC
"I rely a lot on my experience and pattern recognition. The Sony situation reminded me a lot of Yahoo. Their (Sony) margins are the lowest in the industry, We think it could be a lot more disciplined. I think Mr. Hirai is doing many of the right things. And he says Sony must change, Sony will change. In his words there is some sense of urgency, I also think he brings western sensibility to management."

Daniel Loeb
Founder, Third Point Hedge Fund


Sensex surges 490 points


THE ECONOMIC TIMES
Wed, May 15, 2013 | 04:41 PM IST


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15 May | 04:41PM
20212.96490.67
6146.75151.35
54.810.02
26454.00-253.00

Latest Updates

GainersLosers15 May, 2013, 04:41PM IST, PTI|View All
Company NameLive PriceChange (%)VolumeHighLow
Wanbury Ltd.26.4020.004658226.4022.20
Nectar Lifesciences Ltd.17.2519.9623747917.2514.50
Roselabs Ltd.26.4319.764856026.4822.50
Vipul Ltd.7.9519.73229147.966.31
Texmo Pipes & Products Ltd.6.3919.664948746.405.21

Sensex rises 31 pts as banking and healthcare stocks gain


Dated:14 May,2013
Top Headlines
Top investment themes by experts for this year
Markets have been on a roll since April 2013, supported by ample liquidity infused by foreign institutional investors.

Four reasons why buying into Ranbaxy yet may not be a wise decision
For Ranbaxy, the worst may seem to be over with the US settlement. However, it may still not be a wise decision to jump into buying the stock.

Sensex rises 31 pts; banking and healthcare stocks gain
Sun Pharma at Rs 963.65 was the biggest gainer by rising 2.03 per cent followed by ONGC by 1.78 per cent at Rs 326.50 and Bharti Airtel by 1.78 per cent at Rs 317.20.

Views on Stocks/Markets
 
Market Round-up
SENSEX19722.2930.62
NIFTY5995.4014.95
S&P5001,633.77.00
NASDAQ3,438.79.00
USD/INR 54.7773-.03
 

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