Sensex sluggish in morning trade

MUMBAI: A benchmark index for Indian equities was sluggish in morning trade on Thursday and was 37 points lower about an hour into trade.

At 9.57am, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,013.68 points, was ruling at 16,962.64 points, 37.37 points or 0.22 percent lower than its previous close at 17,000.01 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,067.3 points against the previous close at 5,088.1 points, a loss of 0.41 percent.

Broader markets, however, saw some buying interest with the BSE midcap index ruling 0.58 percent higher and the BSE small cap index 0.47 percent up.

TOI

Rupee gains 5p against US dollar in early trade

STAFF WRITER 9:40 HRS IST

Mumbai, Mar 4 (PTI) The rupee appreciated by five paise to 45.77 a dollar in the early trade today in line with other rising Asian currencies amid increased capital inflows by foreign funds into the firming domestic equities market.

At the Interbank Foreign Exchange (Forex) market, the rupee rose by five paise to 45.77 a dollar. The domestic currency had closed 19 paise higher at 45.82/83 in the previous session ? highest level in the past six weeks.

Forex dealers said rupee gained against the US currency in line with other Asian units and dollar selling by banks and exporters.

Besides, fresh capital inflows by foreign funds into firming local stock markets also supported the Indian rupee, they added.

Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 24.95 points to 17.024.96 in the opening trade today.

Sensex erases early gains on profit-selling

STAFF WRITER 10:5 HRS IST

New Delhi, Mar 4 (PTI) Erasing early gains, the Bombay Stock Exchange Benchmark Sensex dipped below the 17,000 level after losing over 53 points at 1000hrs today on emergence of profit-booking at existing higher levels.

The 30-share Sensex, which had opened nearly 25 points higher, fell back with a loss of 53.11 points to 16,946.90 points in first one hour of trading.

The wide-based National Stock Exchange index Nifty also lost 21.30 points at 5,066.80 points.

The Sensex had gained nearly 750 points in last three trading session.

PM, Advani lock horns; Opposition tears into Pawar

PM, Advani lock horns; Opposition tears into Pawar

NEW DELHI, March 3: Prime Minister Manmohan Singh and Bharatiya Janata Party (BJP) leader L.K. Advani locked horns in the Lok Sabha Wednesday over “secret talks” on Kashmir and the implementation of one-rank-one-pension scheme for defence personnel while the opposition tore into Agriculture Minister Sharad Pawar in the Rajya Sabha on an alleged sugar scam.

The prime minister attacked Advani for trying to create a “rift between service personnel” and the government. The BJP leader had alleged that a promise made in the 2009 budget - on the one-rank-one-pension scheme for ex-servicemen - had not been implemented completely.“Whatever I have promised, my government has done. Whatever the finance minister stated in the budget, it has been implemented,” Manmohan Singh said.

Advani also referred to a Newsweek report, which quoted Indian and US sources as saying that India and Pakistan have restarted “secret back-channel talks” over Kashmir, and asked the prime minister for an explanation.

Manmohan Singh said: “How many times did Jaswantji (who was external affairs minister in the NDA government) talk with US government representatives? How many times you informed the house? Why are you expecting me to answer hypothetical questions?”