Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena6 hours ago
The benchmark 30-share Sensex index closed down 0.3 percent or 28.93 points at 9,618.54, snapping three days of gains.
“The markets recovered smartly from intraday lows on reports that the government was working on an economic stimulus package for key sectors,” said Hiten Mehta, a fund manager at Fortune Financial Services.
Dealers said they also expected India’s central bank to possibly announce further rate cuts to boost economic growth.
India’s growth is expected to slow to 7.1 percent in the current fiscal year—the lowest rate for six years and down from nine percent in 2007-08, according to official estimates.
Shares in fraud-hit Satyam rose 6.67 percent or 2.95 rupees to 47.15 on media reports that the company will pay staff salaries for February and would receive bank loans in coming days.
Satyam is set to announce its long-term strategic plan, including a possible buyer next week.
In Wednesday’s trade, gainers led losers 1,263 to 1,138 on turnover of 32.8 billion rupees (671 million dollars).
The rupee fell against the dollar to 48.82 from 48.70 and also against the euro to 63.07 from 62.54.
The rupee has been under pressure against the dollar for several months as funds have moved money into assets regarded as safer havens.
India’s largest private sector bank ICICI Bank rose 7.3 rupees or 1.71 percent to 435.4 on hopes of a further interest rate cut by India’s central bank.
India’s largest carmaker, Maruti Suzuki India, rose 24.35 rupees or four percent to 632.55 on hopes of a package from the government to boost growth.
The world’s sixth-largest steel maker Tata Steel fell 21 rupees or 3.73 percent to 541.5 after global leader ArcelorMittal swung to a fourth-quarter net loss of 2.63 billion dollars from a net profit of 2.44 billion dollars a year earlier.
Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena6 hours ago
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia6 hours ago
More than 2,000 pro-Palestinian protesters arrested in the past two weeks across the US
americas6 hours ago
Fireballs and Smash tied for the lead in the team event at the $25 million 54 hole tournament
sports6 hours ago
The hosts strengthened their chances of securing a slot in the semifinals with a 70-run victory in Abu Dhabi
sports7 hours ago
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markets7 hours ago
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weather8 hours ago
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africa8 hours ago