Sensex opens 205 points down on profit-booking

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Tuesday fell by over 205 points in the opening trade, largely on profit-booking.

The 30-share barometer, which had gained 372.15 points in the previous trading, was quoting at 19,785.34 points in the opening trade, down by 205.20 points from Monday's close.

Similarly, the wide-based National stock Exchange index Nifty also fell by 70.10 points to 5,939.90.

Brokers said fresh bout of selling by funds and retailers on prevailing levels amid weak trend in global markets weighed down the trading sentiments.

Besides, political uncertainty following 2G spectrum allotment, also triggered selling.

All the sectoral indices, led by realty, banking and metal stocks were trading in negative zone with losses up to 2.03 per cent.

In other Asian markets, the Hong Kong's Hang Seng index was quoting down by 1.23 per cent in the morning trade. Japanese markets are closed today. In the US, Dow Jones Industrial Average shed 0.22 per cent in Monday's trade.

Read more: Sensex opens 205 points down on profit-booking - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-opens-205-points-down-on-profit-booking-/articleshow/6973845.cms#ixzz164pOpruw

Sensex rise most in 2 weeks on investor buying, global cues

MUMBAI: The Bombay Stock Exchange benchmark Sensex today surged by over 372 points, steepest advance in more than two weeks, on brisk buying as investors judged the recent fall an overdone amid a firming Asian trend.

The Sensex, which had plunged to two-month low in the previous week, bounced back and gained by 372.15 to 19,957.59, its biggest surge since November 4, backed by Reliance Industries, Infosys Technologies and leading financial stocks.

The broad-based National Stock Exchange index Nifty also rose by 119.70 points to 6,010 as investors viewed the recent correction in the markets as a good entry point for picking fundamentally strong shares.

European equities rallied in opening deals as investors welcomed the news that crisis-hit Ireland formally applied for a bailout from the debt crisis.

The heaviest-weighed on the Sensex, Reliance Industries advanced 1.53 per cent to Rs 1,012.10, its biggest gain since November 4, on reports that the company restarted one of its crude distillation units and a coker at its Jamnagar refinery.

The second-heaviest Infosys spurted by 2.55% to Rs 3,042.10. The two stocks carry nearly 23% weightage on the benchmark.

In the 30-BSE index components, 27 stocks closed higher while three ended in negative zone.

The banking sector index gained the most by 2.64% to 14,066.42 as stocks of private lenders - HDFC Bank, ICICI Bank and HDFC Ltd recorded handsome gains.

The consumer durable index was second best performer by adding 2.59 per cent to 6,623.42 followed by information technology sector index by 2.50% to 6,036.95. Tech index rose by 2.22% to 3,697.87.

The IT and tech sector shares were in demand following a weak rupee against the dollar on expectations of a higher revenue. The Indian software export get over 50 per cent revenue from the U.S. and European markets.

The realty sector index rose by 2.01% to 3,237.24 as Lanco Infratech gained 2.11% to Rs 65.40, its highest close since October 27 on reports the government selected seven companies including Lanco, to build 470 megawatt of solar power capacity.

As the buying activity spilled over a wide-front, smallcap sector index rose by 1.46% to 10,387.24 and midcap index by 1.28% to 8,180.48.

Read more: Sensex rise most in 2 weeks on investor buying, global cues - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-rise-most-in-2-weeks-on-investor-buying-global-cues-/articleshow/6969952.cms#ixzz160fzSXsS

Rupee gains 6 paise against dollar in early trade

MUMBAI: The Indian Rupee regained strength to trade 6 paise higher at Rs 45.23 against the US dollar at the Interbank Foreign Exchange market in the morning trade today, tracking gains in other Asian currencies.

Dealer said firm opening of the stock exchanges and dollar's losses against other Asian currencies kept the rupee sentiment firm.

The rupee had lost 7 paise to close at Rs 45.29/30 against the US currency in the previous session on strong dollar demand from importers amid sharp fall in stock markets.

Meanwhile, the Bombay Stock Exchange index Sensex recovered by 170.53 points or 0.87 per cent to 19,755.97 level in the opening trade today.

Read more: Rupee gains 6 paise against dollar in early trade - The Times of India http://timesofindia.indiatimes.com/business/india-business/Rupee-gains-6-paise-against-dollar-in-early-trade/articleshow/6967819.cms#ixzz15z1HVpbg

India in top 4 among B-school destinations

MUMBAI: That the US and the UK are the most popular destinations for management studies is not big news. But the findings of a survey conducted by the Graduate Management Admission Council (GMAC), which conducts GMAT, a B-school entrance test used globally, have thrown up some surprises. Number 4 on the list of the Top 10 preferred destinations for B-school aspirants is India, with Canada at No. 3. Israel and Spain are the other surprise entrants.

According to experts, India's foray into the elite league has a lot to do with the emergence of institutions such as the Indian School of Business, Hyderabad, which was ranked No. 12 globally in the Financial Times ( London) Global MBA rankings earlier this year. The IIMs, which use GMAT as an entrance test for their executive MBA programmes, are also responsible for India's popularity.

''B-school aspirants are looking at a return on their investment, and with the investment being lower for management education in India when compared to the US and the UK, the returns are higher,'' said an expert. Many feel that India can soon emerge as a hub for management studies amongst Asian countries such as Singapore and the Philippines as the country will be a far less expensive destination than western giants.

Although making it to the US has, for long, been the great Indian dream, it is not the only North American country that's attracting desi students. Many are now making a beeline for Canada, which not only has a robust economy and liberal visa policies but also promises good job prospects. ''In testing year 2010, India was the top foreign country that sent score reports to Canadian graduate management programmes,'' reveals GMAC's survey.

According to the report, 78% of full-time MBA programmes in Canada received the largest number of foreign applications from Indians. Not surprisingly, all Canadian management programmes that recruited foreigners targeted India, as did 44% of European programmes that undertook special recruitment efforts to attract overseas candidates

Read more: India in top 4 among B-school destinations - The Times of India http://timesofindia.indiatimes.com/india/India-in-top-4-among-B-school-destinations/articleshow/6966636.cms#ixzz15z06Ziwd