Sensex falls 135 points in opening trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex shed 135 points in opening trade on Wednesday amid sustained foreign capital outflows and a mixed trend on other Asian bourses.

The 30-share index, which fell by 261.49 points in Tuesday's session, lost 134.44 points, or 0.76%, to 17,641.26 points in opening trade today.

In a similar fashion, the wide-based National Stock Exchange Nifty index dipped below the 5,300 points level after shedding 39.25 points, or 0.73%, to 5,273.30 points.

Brokers said continued capital outflows by foreign funds and selling by retail investors in the absence of any positive cue dampened the trading sentiment.

In particular, realty, auto, consumer durables and metal stocks were under pressure, which dragged down the broader market.

TOI

India has ordered 37 Boeing Dreamliners

BANGALORE: Boeing said it has a robust order book of 107 commercial planes in India. Out of this, 37 is for the 787 Dreamliner aircraft.

The company did not specify the delivery timeline for the aircraft. However, the company will deliver the first of the 787 Dreamliner aircraft to Air India this year and the date of delivery will be formally announced at the Aero India show that begins in Bangalore on Wednesday. A miffed Air India had slapped a fine of $850 million for delay in the delivery.

The company is betting big on India's defence market, estimated at $31 billion over the next ten years. "Fighter and attack aircraft, missiles and maritime patrol are a big component of this addressable market," Boeing India president Dinesh Keskar said. In addition to offering the F/A-18E/F Super Hornet as part of the medium multi-role combat aircraft (MMRCA) offering, Boeing is exploring opportunities to bring C-17 Globemaster III, Apache, Chinook and P-81 to India.

The Seattle-based company predicts 15% annual passenger growth in the country over the next 5 years. "Indian air carriers turning profitable, growth of tier 2 and 3 airports and India becoming a key military spender are the growth drivers," Keskar said. But he raised concerns about spiralling fuel prices and inflation that could be a dampener. "If the fuel price goes up to $110, we are going to have a situation where airlines will have to increase prices. If prices go up, the growth may come down from 15% to 12%," Keskar added.

TOI

Rupee gains 13 paise against dollar in early trade

MUMBAI: The rupee appreciated by 13 paise to Rs 45.35 a dollar, continuing its rising streak for the sixth- -straight session, at the Interbank Foreign Exchange market on Tuesday, supported by higher opening on the stock market and dollar's weakness against other Asian units.

Forex dealers said dollar's losses against other Asian currencies overseas and better opening at the stock markets kept the rupee's sentiment firm.

The rupee had gained 11 paise to close at Rs 45.48/49 a dollar in the previous session on persistent dollar sale by banks and corporates on the back of a weak greenback overseas.

Meanwhile, the Bombay Stock Exchange index Sensex was up by 104.32 points, or 0.58 per cent, to 18,141.51 points in opening trade today.

tOI

Sensex loses 265 points, closes below 18,000 points

MUMBAI: A benchmark index for Indian equities markets on Tuesday closed below the 18,000 points mark - for the first time in over five months - as selling intensified across the market breadth.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,141.51 points, closed at 17,776.73 points (provisional) -- down 260.46 points or 1.44 percent from its previous close at 18,037.19 points.

The Sensex had closed below the 18,000-point mark on Aug 31 last year.

The 50-scrip S&P CNX Nifty of the National Stock Exchange ended 1.56 percent lower at 5,311.6 points.

Broader markets saw heavier selling, with the BSE midcap index closing 2.41 percent lower and the BSE small cap index trading 3.17 percent down.

TOI

CBI gets 2-day extension of custody for A Raja

NEW DELHI: Former telecom minister A Raja was on Tuesday remanded to CBI custody for another two days for further interrogation after the agency submitted that he was not divulging any "useful information" regarding his role in the 2G scam. Raja will remain in CBI custody till February 10.

The agency said it did not want further custody of former telecom secretary Siddartha Behura and Raja's former personal secretary R K Chandolia. The two were sent to Tihar jail under judicial custody.

Earlier, the CBI produced Raja before Special CBI Judge O P Saini on expiry of his 5-day custody. The agency wanted custody for Raja for another four more days, but were given two days.

"Some more documents are to be recovered and accused A Raja is to be confronted with them," senior CBI prosecutor Akhilesh submitted.

Refuting allegations by Raja's counsel Ramesh Gupta that the agency had not disclosed to the court the outcome of the probe conducted so far in this case, Akhilesh said, "The case diary has already been submitted to the court. Each and everything cannot be disclosed in the open courtroom."

Opposing CBI's demand for four more days of Raja's custody, Gupta said, "I am not having the custody of any document, which the CBI wants to recover from me."

"Whatever documents were there, they have already been seized by them in 2009 itself," he added.

About Behura and Chandolia, the CBI counsel said the agency no longer needs their custody. "The two can be sent to Tihar Jail under judicial custody," he said.

The CBI had on February 3 rd been granted five-day custody of Raja and his two aides in connection with the 2G spectrum scam. The agency has accused the former minister of causing a loss of Rs 22,000 crore to the exchequer by favouring some telecom firms in award of the 2G spectrum licences.

This is for the first time that the CBI is directly accusing Raja of complicity in the 2G scam after it had filed an FIR against unknown officials and private persons and companies on October 21, 2009.

Though the agency has pegged the loss at Rs 22,000 crore based on the calculations made by the CVC, the CAG had in its report had projected a presumptive loss of Rs 1.76 lakh crore.

The three were arrested for allegedly abusing their official position and favouring some telecom companies in grant of licences by manipulating the procedures.

TOI