Mumbai, Dec 16 (PTI) The Bombay Stock Exchange benchmark Sensex rose by over 65 points in early trade today as investors and funds made selective purchases ahead of the RBI's monetary policy review later in the day.
The 30-share barometer, which fell by 151.42 points in the previous session, recovered by 65.54 points, or 0.33 per cent, to 19,713.31 on the back of a recovery in technology, healthcare and oil and gas sector stocks.
Similarly, the National Stock Exchange's Nifty index moved up by 18.35 points, or 0.31 per cent, to 5,910.65.
Analysts said the trading sentiment was cautious, with investors hopeful that the RBI would take a breather in its monetary tightening stance.
Meanwhile, in the Asian region, Hong Kong's Hang Seng index was down by 0.27 per cent, while Japan's Nikkei shed 0.10 per cent in early trade today. The US Dow Jones Industrial Average closed 0.
Wednesday, December 15, 2010
Sensex opens 65 points up ahead of RBI policy meet
Rupee down 16 paise against US dollar in early trade
Mumbai, Dec 16 (PTI) The Indian rupee fell by 16 paise to Rs 45.56 against the US dollar in early trade at the Interbank Foreign Exchange today, weighed down by the dollar's gains against other major currencies.
The rupee had plummeted by 46 paise to an almost two-week low of 45.40/41 against the US dollar in the previous session, with strong demand for the American currency from importers amid a decline in domestic equities.
Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 65.54 points, or 0.33 per cent, to 19,713.31 in opening trade today.
Sensex opens 65 points up ahead of RBI policy meet
Mumbai, Dec 16 (PTI) The Bombay Stock Exchange benchmark Sensex rose by over 65 points in early trade today as investors and funds made selective purchases ahead of the RBI's monetary policy review later in the day.
The 30-share barometer, which fell by 151.42 points in the previous session, recovered by 65.54 points, or 0.33 per cent, to 19,713.31 on the back of a recovery in technology, healthcare and oil and gas sector stocks.
Similarly, the National Stock Exchange's Nifty index moved up by 18.35 points, or 0.31 per cent, to 5,910.65.
Analysts said the trading sentiment was cautious, with investors hopeful that the RBI would take a breather in its monetary tightening stance.
Meanwhile, in the Asian region, Hong Kong's Hang Seng index was down by 0.27 per cent, while Japan's Nikkei shed 0.10 per cent in early trade today. The US Dow Jones Industrial Average closed 0.
Big banking deals on Day 1
The pact with Reliance Power, part of the Anil Ambani Group, called for a $4.63-billion (Rs 20,974 crore) project financing, while the one with ICICI Bank is for a $400 million (Rs 1,812 crore) facility agreement, according to officials who coordinated their signing.
It also signed a $2-billion (Rs 9,060 crore) pact with Reliance Communications, while Sepco and Shandong have inked another with the diversified Adani group worth $3.63 billion (Rs 16,444 crore) to supply power equipment.
The plethora of such banking deals come on the back of a major policy overture from both sides. The two sides may ink a reciprocity agreement that would allow Chinese banks to set up branches in India. At present, there are no banks from China operating in India. China’s “big four” government-owned commercial banks — Bank of China, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China — are the ones likely to be allowed to set up branches and start commercial operations.
It was not an all-banking show, though. Other multi-million-dollar pacts include Dofang Electric and Abhijeet Projects for power equipment worth $2.5 billion (Rs 11,325 crore), a similar pact between Shandong and Tamil Nadu Power Co for $800 million (Rs 3,624 crore) worth of equipment and a $330 million (Rs 1,495 crore) deal between China Aluminium and Vedanta for metal import.
The Federation of Indian Chambers of Commerce and Industry has entered into a memorandum of understanding with China Chamber of Commerce on cooperation.
HT
