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Sensex spurts over 200 points; RIL, ONGC decline

Fri, 30 Oct 2009 06:07:59 -0400

Volatility ruled the roost as the key benchmark indices pared gains after a solid surge in early trade triggered by firm global stocks. World stocks rose after data showed the US economy was out of recession. Reliance Industries and Oil & Natural Gas Corporation drifted lower after the two companies announced second quarter results after trading hours on Thursday, 29 October 2009. The BSE 30-share Sensex was up 202.80 points or 1.26% to 16,255.52. The market breadth was strong. Metal shares were in demand on the back of firm metal prices on the London Metal Exchange. ICICI Bank surged ahead of Q2 results. Asian markets rallied after data on Thursday showed US gross domestic product (GDP) grew at a 3.5% pace in Q3 September 2009. This was the fastest pace in GDP growth for the US economy since the third quarter of 2007. The growth followed four quarters of contraction. Key benchmark indices in Hong Kong, China, Japan, Singapore, South Korea and Taiwan were up by between 0.28% and 3.12% The Bank of Japan's (BoJ) policy board unanimously left its overnight call rate target at 0.1% Friday, as was widely expected. **End Summary** Topics: stock market tips]]> stock market india]]> stock market news]]>]]> About the Author: ]]> get all information about the stock market and tips from http://www.sirfpaisa.com

Stock Market News

Wed, 28 Oct 2009 07:13:46 -0400

MUMBAI (Reuters) – The Reserve Bank of India (RBI) laid the groundwork on Tuesday for a rise in interest rates by tightening credit to the commercial property sector, lifting its inflation forecast and warning of the threat of asset price bubbles. As expected, the Reserve Bank of India (RBI) left key interest rates on hold but surprised markets by removing emergency liquidity support measures that were implemented to protect Asia's third-largest economy from the global downturn. Stocks extended losses to 2.5 percent after the quarterly policy review and property shares fell 7.3 percent as the RBI raised bank provisioning requirements for commercial real estate loans. "This could be one way for them to signal rate hikes are imminent. It is tightening of course," said Ramya Suryanarayanan, economist at DBS in Singapore. Despite the tightening, government bond yields fell after the RBI raised the amount of deposits banks are required to keep in government securities, soothing worries about the market's ability to digest this year's record borrowing. **End Summary** Topics: free share market tips]]> stock market tips on mobile]]> stock market india]]> stock markets]]> stock market quotes]]> stocks market]]> the stock market]]> stock market]]>]]> About the Author: ]]> Get all information about the stock market.news and tips from sirfpaisa.com