HSBC Services PMI Hits 4-Yr Low; Election Commission Announces Schedule For Assembly Election

Friday, Oct 04, 2013 LEAD STORIES HSBC SERVICES PMI HITS 4-YR LOW AT 44.6 IN SEPTEMBER  It also capped worst quarter for svcs sector & data showed firms were less optimistic about the future & were cutting staff as new business dried up. read more FLAT FRIDAY ON D-STREET; SERVICES PMI WEIGHS  Sensex closed up 13.88 pts at 19915.95, Nifty at 5907.30 in a volatile session after Services PMI hit 4 year low. Sobha Developers surge 9%. read more RUPEE CLOSES AT 7-WEEK HIGH, UP 30 PAISE AT 61.44/$  Rupee rose to the highest level since Aug 14 on a dollar sell-off by banks and companies. Rupee touched a high & a low of 61.26 & 61.94, respectively. read more ELECTION COMM ANNOUNCES POLLS SCHEDULE FOR 5 STATES  Assembly elections to be held in Delhi, Rajasthan, Madhya Pradesh, Mizoram & Chhattisgarh from Nov 11. Counting of votes will be done on Dec 8. read more TOP STORIES • Railways likely to hike passenger fares by 2-3%   • UP govt mulls linking cane with sugar prices   • Govt moves SC to modify order on Aadhar card   • AgustaWestland invokes arbitration over chopper deal   • Thorat, Bhave joins RBI panel on new bank licences   • Retail loans for festive season soon: RBI   • Chiranjeevi, Pallam Raju quit over Telangana plans   • I-T Dept to slap fresh demand notice on Nokia   • SEBI allows MF transactions via stock exchange infra   • DIPP moves cabinet note to relax FDI norms in realty   • NSEL: Lookout notice issued against Jignesh Shah   • Find out way to get back Rs 19,000 cr: SC to Sahara   • SEBI bars DSQ Software, Dalmia from mkts for 7 yrs   • SEBI to usher in major reforms for FPIs   • Sistema Shyam gets unified telecom licence   • Good JLR prospects; Tata Motors stock hits record high   • Mercedes-Benz posts record Sept sales; India up 58%   • Samsung posts record profit of $9.4 bn in Q2   • Twitter plans $1 bn IPO; reveals rip-roaring growth   • Adobe Systems hacked, 2.9 mn accounts compromised   more stories TOP VIDEOS No Reason To Dispute Govt's FY14 Growth Estimate: Raghuram Rajan, RBI Governor   Infusing More Funds In Public Sector Banks Won't Aid FY14 Growth; Lending Rate Cuts Are Key To Growth: Indranil Sengupta, Chief Economist India, BofA ML   Jet-Etihad Deal Unlikely To Face Anymore Hurdles & Approval By The CCI Is Just A Formality: Kapil Kaul, CEO-South Asia, CAPA   Washington Will Go Till Point Of Idiocy, But Not Cross It: Warren Buffet, Chairman & CEO, Berkshire Hathway   AT A GLANCE BSE 19915.95 +13.88 NSE 5907.3 -2.4 TURNOVER Rs. 135,228 cr BSE CASH Rs. 1,836 cr NSE CASH Rs. 10,748 cr NSE F&O Rs. 116,827 cr BULLION GOLD 29750 -454 SILVER 48000 -653 CRUDE NYMEX 103.89 +0.58 BRENT 109.29 +0.29 FOREX $ / Re 61.44 -0.3 £ / Re 98.693 -1.02 € / Re 83.496 -0.56 EVENTS TO WATCH 3-6 October Intelligent Enterprise Awards 2013, Abu Dhabi 5 October India International Bullion Summit, Grand Hyatt, Mumbai 7 October Oil Companies To Bid For HPCL Stake WTO Director To Meet Anand Sharma Bombay HC To Give Final Order On E- Series Contracts At NSEL 10 October Bombay HC To Hear Kirit Somaiya PIL Against NSEL

"The ongoing political uncertainty over the budget and the debt ceiling does not help. The(U.S.) government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the U.S. economy, but the entire global economy. So it is "mission-critical" that this be resolved as soon as possible." Christine Lagarde Managing Director, IMF "I feel globalisation is a good thing. It is here to stay. Look anywhere in the world, and you will find that poor have benefitted from globalisation. One downside of this, however, is that inequalities have widened between nations and within nations." Rahul Bajaj Chairman, Bajaj Industries "Suspension of payment was not provided for under the terms of the contract & that the authorities had not responded to the company's requests for bilateral discussions since April. The need to resolve this issue has left AgustaWestland with no other option but to invoke arbitration; the next step prescribed by the contract. This is not a step we take lightly." AgustaWestland Statement On Indian Chopper Deal