BSE Sensex recovers over 86 points, Nifty up by 34 points in early trade

Feb 06 2013, 10:06 IST
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The 30-share barometer gained 86.74 points, or 0.44 per cent, to 19,746.56. (Reuters) The 30-share barometer gained 86.74 points, or 0.44 per cent, to 19,746.56. (Reuters)
SummaryThe 30-share barometer gained 86.74 points, or 0.44 per cent, to 19,746.56.

and non-prescription products.


* The RBI said on Tuesday it accepted all 31 bids for 583.20 trillion rupees at its one-day repo auction, through which it injects cash into the banking system. It said it did not receive any bids at its reverse repo auction, through which it absorbs cash from the system.

* Indian banks' refinancing with RBI rises to 180.61 billion rupees.

* Indian banks' cash balances with RBI rise to 3.20 trillion rupees.

* Nifty futures on the Singapore Exchange rose 0.2 percent. The MSCI-Asia Pacific index, excluding Japan rose 0.3 percent.

* Asian shares recovered on Wednesday as solid euro zone data calmed nerves jarred by potential political turmoil, while the prospect of a dovish new governor for the Bank of Japan weakened the yen.

* US stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.


* Earnings: Cipla Ltd, Tech Mahindra Ltd

* Day 1 of RBI's central board meeting in the eastern city of Guwahati.

* India money supply data (0930GMT)



* The Indian tax authorities have sent sternly-worded letters asking several companies that paid lower service tax or excise duty than last year to explain the decline, The Economic Times reported citing a review of the letters.

* Kotak Mahindra Bank Ltd said on Tuesday it acquired the business loans portfolio of the Indian arm of Barclays Plc.

* Housing Development Finance Corporation (HDFC), India's biggest housing finance company, will reduce its prime lending rate by 10 basis points starting Feb. 6, it said on Tuesday.

* United Bank of India's October-December net profit fell 81.3 percent to 422 million rupees from a year ago.


* The Indian government expects to raise around 120 billion rupees ($2.25 billion) by selling a 9.5 percent stake in state power utility NTPC Ltd in a share auction on Thursday, Disinvestment Secretary Ravi Mathur said.

* The food ministry has decided to seek Cabinet approval to lift controls on sugar, a senior food ministry official said.

* In a move that will increase electricity tariffs by up to 13 paise a unit, the cabinet committee on economic affairs (CCEA) on Tuesday approved the pooling of imported and domestic coal prices.

* State electricity distribution companies have decided to sign long term power supply contracts in the next six months ending a two-year long dry spell for power generators, an official statement said.

Dainik Bhaskar Group's

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