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MUMBAI: Benchmarks staged sharp recovery in the afternoon but still ended in the red after traders covered short positions in realty, power and banking space.

The currency extended a three-week decline after India’s deadliest terrorist attacks in 15 years that lasted almost for four days.

New Delhi, (PTI) Services and construction sectors helped the Indian economy expand at 7.6 per cent in the second quarter of the current fiscal, prompting government to term the growth as “healthy and satisfactory” even though it was the lowest in any three-month period in the last four years.

NEW DELHI: Rating agency ICRA on Tuesday assigned highest credit quality rating to Rs 10,000 crore short term debt programme of Anil Dhirubhai Ambani Group’s financial services firm Reliance Capital Ltd.

New Delhi (PTI): Reliance Industries, India’s largest private sector oil company that shut down all of its petrol pumps earlier this year because of huge losses, wants to restart selling petrol and diesel after margins on the two fuels turned positive.

Oil prices fell below $54 a barrel Tuesday in Asia after surging overnight as investors mulled whether a U.S. government bailout of Citigroup Inc. restores enough confidence to staunch crude’s 64 percent slide since July.

Qantas Airways Ltd, Australia’s flag carrier, slashed its 2009 profit forecast and said it would further cut capacity due to shrinking demand as the global financial crisis bites.

In the present volatile market conditions, results in the first quarter of financial year 2009 may have been better than expected. These, however, did not reflect the combined impact that high interest rates and input costs had on companies’ sales and profitability. The second quarter figures are showing the true picture of how companies are […]

MUMBAI: Even as four companies, including State Bank of India (SBI), managed to add to their market capitalisation (m-cap) amid high volatility on bourses, the elite club of country’s top 10 companies saw their valuations tumble by a whopping Rs 30,000 crore in just one week.

India needs an investment of up to Rs 60,000 crore (Rs 600 billion) over the next five years to meet demands in the healthcare sector alone, according to a consultancy firm Feedback Ventures.

After a gap of several days, the rupee took a break from its falling routine and posted gains on Wednesday. However, this is the second week in a row that the currency posted weekly losses, as a slide in global stocks fuelled concerns foreign investors would step up equity sales. Liquidity was comfortable, with banks […]

NEW YORK: Hit by the turmoil in equity and property markets, India’s four richest realtors have lost nearly $ 33 billion (over Rs 1,50,000 crore) since March this year, with the richest of them, K P Singh of DLF, alone accounting for about two-thirds of it, Forbes magazine said.

MUMBAI: The last day of the week brought relief to investors as traders covered short positions on expectations of positive developments in the US. The seven session fall was arrested on gains in power, oil&gas and capital goods space.

Short selling virtually got a clean chit from the stock market regulator on Thursday. The Securities and Exchange Board of India (Sebi) said there was no evidence to blame short selling for the stock market slide since September.

Oil prices bounded above $103 a barrel on Thursday after falling to another five-month low the previous day, drawing support from Hurricane Ike and OPEC’s surprise output cut while wary traders watched the U.S. dollar.

The rupee stayed close to near two-year lows on Thursday as losses in local stocks raised worries of more foreign fund outflows, but a further drop was prevented as traders were wary of Reserve Bank of India’s intervention.

Rupee should ease on Thursday as the dollar climbed to a one-year high against the euro, while a drop in Asian stocks will worsen worries about foreign fund outflows.

Gold regained strength on Thursday as more physical buyers resurfaced after prices struck another 11-month low, but the U.S. dollar’s strength against the euro threatened to cap gains.

Oil prices bounded more than $1 higher on Thursday after falling to another five-month low the previous day, drawing support from Hurricane Ike and OPEC’s surprise output cut while wary traders watched the U.S. dollar.

The rupee dropped past 45 per dollar to a new near two-year low on Wednesday as a weaker stock market raised worries of more foreign fund outflows while some offshore related dollar buying also hurt the rupee.

Gold advanced on Wednesday after a rebound in oil prices, which helped the metal resist selling pressure from speculators who had sent prices to their lowest in nearly a year.

Rupee is seen lower on Wednesday as weak regional stock markets raise concerns of more capital outflows, but sharp falls may be checked by Reserve Bank of India intervention.

Gold pared early losses on Wednesday as oil staged a rebound, which helped bullion resist selling from speculators that had sent the price to its weakest in nearly a year.

Oil fell to a new five-month low on Tuesday as expectations OPEC would leave formal output targets steady outweighed concerns over the threat of Hurricane Ike to U.S. Gulf of Mexico energy infrastructure.

The rupee dropped to fresh near two-year lows on Tuesday, weighed down by the dollar’s broad strength against a basket of currencies, but central bank intervention checked a sharper decline.

Gold came under pressure on Tuesday, struggling to stay above $800 an ounce level due to a strong dollar, but robust physical demand capped losses.

India’s gold prices were a touch lower on Tuesday in tune with foreign markets but demand remained moderate with a weaker rupee making traders cautious, dealers said.

Oil prices fell back towards a five-month low on Tuesday, resuming a near two-week slide as a resurgent U.S. dollar drove investors away from commodities and OPEC appeared set to sit tight on production policy.

The following are some of the days considered auspicious according to the Hindu calendar for gold purchases in India: