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Sebi expands scope of brokers' agents

Fri, 06 Nov 2009 19:31:00 GMT

In a move to expand the reach of market for exchange traded products, the Securities and Exchange Board of India (Sebi) today came up with guidelines for market access through authorised persons.

PSU stocks gain as Sensex logs first weekly gain in three weeks

Fri, 06 Nov 2009 19:22:57 GMT

The BSE Sensex climbed 0.6 per cent on Friday, posting its first weekly rise in the past three weeks, with banks leading the rebound as investors picked bargains after last months fall. Gains in global stocks after the US labour department said initial claims for state unemployment benefit had dropped to their lowest level since early January also underpinned the market.

SBI deposit rates cut 25-50 bps

Fri, 06 Nov 2009 19:20:18 GMT

The bank extends 8% home loan scheme till March.

'Unrealistic valuations hampering PE deals'

Fri, 06 Nov 2009 18:51:40 GMT

Many entrepreneurs wanting to sell a stake have unrealistic valuations of their companies. This is a major block for private equity (PE) players to close a deal. Also, many do not have a second plan if talks fall apart, according to speakers at the Private Equity Conference at the Indian School of Business.

ICEX may go live from Nov 23

Thu, 05 Nov 2009 19:19:10 GMT

Indian Commodity Exchange (ICEX) is likely to launch operations on November 23 with 10 contracts in the farm and non-farm space, a source familiar with the development informed. Most pre-launch formalities such as finalising the bye-laws and a few regulatory approvals are at a final stage, and the exchange may go live on Nov 23, the source said.

Oilmeal exports double in October on demand revival

Thu, 05 Nov 2009 19:18:19 GMT

In contrast, exports during April-October decline 42 per cent.

Farmers demonstrate against low paddy purchase price

Thu, 05 Nov 2009 19:17:48 GMT

Farmers organisation Bharti Kissan Union (Lakhowal) demonstrated in front of the offices of Deputy Commissioners of Ludhiana, Ferozepur, Moga and Muktsar in Punjab against low purchase price of PUSA 1121 paddy variety by private purchasers and demanded interference of the central and state governments in the matter.

Pepper prices up on low availability

Thu, 05 Nov 2009 19:16:59 GMT

A sharp fall in stocks across all leading producing countries has strengthened the bull phase in the international pepper market. Reports emerging from major producing countries puts the total global stock at around 45,000-46,000 tonnes. According to experts, the November to January period is going to be crucial for pepper trade.

Punjab rejects wheat MSP fixed by Centre

Thu, 05 Nov 2009 19:15:04 GMT

Punjab Chief Minister Parkash Singh Badal today rejected the hike of Rs 20 per quintal in the Minimum Support Price (MSP) for wheat by the Centre, raising it to Rs 1,100 from last years Rs 1,080 per quintal. He described it as woefully inadequate and unjustified.

Demand for silver up in Gujarat as gold prices rise

Thu, 05 Nov 2009 19:14:00 GMT

With the yellow metal touching an all-time high on Tuesday, investors are shifting their focus to silver expecting its prices to climb further tracking gold, jewellers said today.

New green norm may cause closure of 3,000 scrap units

Thu, 05 Nov 2009 19:12:03 GMT

In July, govt restricted scrap imports to only processing units.

Himachal apple output down 50%

Thu, 05 Nov 2009 19:11:18 GMT

Himachal Pradesh has witnessed one of the lowest apple-producing season this year. According to the state government estimate, harvest is expected to settle at around 12.5 million boxes this year, less than half of last years output of 26 million boxes.

Buying gold at $1,000-plus not necessary for China, says expert

Thu, 05 Nov 2009 19:07:46 GMT

China, the worlds second-biggest gold consumer, may not find it very necessary to purchase bullion for its reserves after the price rose above $1,000 an ounce, a state economist said today.

Remittance to developing nations to touch $317 bn

Thu, 05 Nov 2009 19:05:21 GMT

Migrant remittance flow to developing countries, including India, will be around $317 billion this year, a lower-than-expected fall from the year-ago level, but will return to the recovery path in years to come, the World Bank has said.

Madras bourse seals trade access deal with NSE

Thu, 05 Nov 2009 19:04:40 GMT

Such pacts needed for regional exchanges to survive, says Bhave.

Sensex stages smart recovery, regains 16k

Thu, 05 Nov 2009 19:02:16 GMT

Stock markets staged an extraordinary recovery towards the end of the day, buoyed by Finance Minister Pranab Mukherjees comment about possible lower rates in the new tax code and on Home Minister P Chidambarams remark that profitable state-owned companies should list at least 10 per cent shares on exchanges.

4,700 level will act as strong support

Thu, 05 Nov 2009 19:01:11 GMT

The Nifty bounced back sharply after finding support around 4,600 levels and closed at 4,770 on short-covering. The Nifty November futures settled at 4,770 compared with the average trading price of 4,680 as almost 66 per cent volume changed hands at an average of 4,650. In the last two trading sessions, we have observed that the Nifty has filled the gap between the closing value and the average value on the following day and moved up. So, if this pattern continues, we may see the index moving down below 4,700 levels tomorrow.

Hindustan Copper rises 10%

Thu, 05 Nov 2009 19:00:00 GMT

The stock gained 10 per cent at Rs 233.05, has frozen the upper limit of circuit filter on reports that the government is considering divesting its stake in copper producer. The Government of India holds a sizable 99.59 per cent stake in the company.

JSW Steel up 7%

Thu, 05 Nov 2009 18:59:38 GMT

The stock rose 7.34 per cent to Rs 774, after the company reported its crude steel production rose 34 per cent to 453,000 tonnes in October 2009 over the same period last year.

Regional stock exchanges back in trading ring

Thu, 05 Nov 2009 18:56:44 GMT

Plan tie-ups with national exchanges, new trading platforms.