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Rupee
down
Mumbai: The demand for dollars by oil companies sent
the Rupee down on Friday. At close, the rupee was traded
at 44.4150 against its previous day's close of 44.28/29.
However, the rupee opened stronger at 44.21/22 per dollar
today.
Call
rate at 5.00-5.10 pc: The call rate opened on Friday at
5.00-5.10 per cent against its same previous day's close.
The call rate quoted around repo rates in early deals
on lesser demand.
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Sensex
down
Mumbai:
Falling
US stock triggered selling in India. Indian markets fell
over fears worries about a slowdown in the US economy
and rise in interest rates. The BSE Sensex closed the
day at 8528.70 points, down 195.77 points or 2.24 per
cent from its previous close. The NSE Nifty ended the
day at 2579.15 points, down 65.25 points from its previous
close.
The
Dow Jones industrial average of the US fell 1.2 per cent,
its largest fall since June 23, and the Nasdaq Composite
Index dropped 1.7 per cent, its biggest decline since
April 15. The S&P 500 Index fell 1.5 per cent. Not
only was that its biggest fall since April 15, it also
pushed the broad market index back into negative territory
for the year.
BSE
brokers said a correction was overdue as the market had
gained 500 points over the past week.
Asian
stocks buckled on Thursday under the weight of heavy Wall
Street losses and worries about rising US inflation and
interest rates, while oil slumped to a two-month low after
data showed falling US oil demand. Tokyo's benchmark Nikkei
average fell 2.4 per cent, its biggest drop since April
18. South Korea's main share index ended down 2.0 per
cent, the key Australian index lost 2.1 per cent, and
Hong Kong's Hang Seng Index finished down 1.7 per cent.
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Organic
Coatings allots 10 lakh equity shares
Mumbai:
Organic
Coatings has allotted 10-lakh equity shares for preferential
issues at a price of Rs33 each, subject to shareholder
approval, the Mumbai-based company informed the Bombay
Stock Exchange.
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JM
Financial to issue equity shares worth Rs175.56 crore
Mumbai:
JM Financial plans to issue 42-lakh equity shares worth
Rs175.56 crore to potential investors on a preferential
basis.
The
equity shares would be issued at a price of Rs418 per
share aggregating Rs175.56 crore, the financial services
company informed the Bombay Stock Exchange.
JM
Financial has announced a share swap ratio of 128:3 for
its proposed merger with JM Securities and mulled a hike
in the FII stake to 40 per cent in the company.
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US
stocks fall
Mumbai:
US stocks fell on Thursday on inflation fears. A Federal
Reserve official issued cautionary comments on inflation
for the second time this week, boosting expectations for
more interest-rate hikes.
The
Dow Jones industrial average slipped 30.26 points, or
0.29 per cent, to end at 10,287.10. The Standard &
Poor's 500 Index declined 4.90 points, or 0.41 per cent,
to finish at 1,191.49. The Nasdaq Composite Index fell
18.94 points, or 0.90 per cent, to 2,084.08.
The
New York Stock Exchange recorded heavy trading and declines
beat advances by about 2 to 1. About 2.15 billion shares
were traded, well above the 1.46-billion daily averages
for last year. On Nasdaq, decliners' outnumbered advancers
by a ratio of about 2:1, with about 2.14 billion shares
changing hands, above the 1.81 billion daily averages
last year.
ADRs
were lower on Nasdaq's 0.9 per cent fall. All 10 ADRs
were down. Infosys was off 0.5 per cent at $70.98 and
Satyam Infoway was off 2.4 per cent at $5.60. On NYSE,
Wipro was off 1 per cent at $10.46, Tata Motors was off
3.5 per cent at $12.13, Dr Red dy's was off 4 per cent
at $20.30 and Satyam Computer was off 1.2 per cent.
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Gold
at all time high
Mumbai:
Gold prices touched an all-time high in the opening session
on the bullion market here on Friday due to heavy buying
activity following a steep rally in the international
prices. Silver was up in line with gold.
Standard
gold (99.9 purity) and pure gold (99.9 purity) shot up
by Rs75 each in early trades to touch a high of Rs6,815
and Rs6,850 as against yesterday's close of Rs6,740 and
Rs6,775 respectively.
The
previous record highs for the standard and pure gold were
Rs6,780 and Rs6,815 recorded on September 22.
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Draper
to invest $200 million in private equity fund for India
Bangalore:
Draper Fisher Jurvetson, a Silicon Valley venture capital
fund, plans to invest $200 million in private equity over
the next five years in India, its founder and managing
director said.
Tim
Draper who funded Indian internet portal Rediff.com and
Hotmail, the free internet e-mail service founded by India-born
Sabeer Bhatia sees tremendous scope in Indian companies.
He
said his firm had entered China ahead of others and had
successfully taken public five of its 10 companies there.
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