BSE Sensex, NSE Nifty, Indian rupee, Gold on June 26, 2014
Thu Jun 26 2014, 20:03 hrs
The benchmark Sensex today fell 251 pts, its biggest drop in six days, to end at 25,062.67 weighed down by losses in ONGC and RIL shares after the government deferred a decision to hike natural gas prices and caution prevailed on the last day of June derivative contracts. Brokers said a sudden gust of selling at the fag-end in realty, banking and metal shares also pulled down indices. The BSE 30-share barometer resumed lower and remained in negative terrain throughout the day before falling sharply at the end to settle at 25,062.67, a net drop of 251.07 points or 0.99 per cent. Read More
The rupee today fell back two paise to end at 60.14 against the dollar on weak local equities and demand for the US currency from importers, snapping two straight days of marginal gains. A better dollar overseas also weighed on the rupee while capital inflows capped the rupee fall, said forex dealers. At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced higher at 60.10 a dollar from last close of 60.12. It moved in a tight range between 60.08 and 60.20 before concluding at 60.14, a fall of two paise or 0.03 per cent.
The benchmark Sensex today fell about 251 pts, posting its biggest drop in six days, as shares of ONGC and Reliance Industries skidded after a decision to hike natural gas prices was deferred and investors adopted a cautious stance on expiry of monthly derivative contracts. The BSE Sensex resumed lower at 25,217.69 points and continued to lose momentum to touch an intra-day low of 25,021.23. It settled at 25,062.67, down 251.07 points, or 0.99 per cent. It had lost 55.16 points yesterday. The index's drop today was its steepest since 274.94-point fall on June18.
Gold prices drifted further at the domestic bullion market here today due to low offtake from stockists and retailers amid lack of local buying support.
Silver however recovered modestly due to better enquiries from jewellery makers and a good industrial demand. Standard gold (99.5 purity) slipped by Rs 60 to end at Rs 28,095 per 10 grams as compared to Wednesday's Rs 28,155. Pure gold (99.9 purity) also fell by Rs 65 to conclude at Rs 28,240 per 10 grams from Rs 28,305.
Raising foreign direct investment cap to at least 51 per cent in the defence sector will help India become a major manufacturing and export hub, reducing dependency on imported equipment. "India can be a game-changer only by allowing at least 51 per cent FDI in the sector. With access to critical technology, the domestic companies will be able to manufacture products indigenously and make India a global defence manufacturing and export hub," said a government source.
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A woman poses for a photograph with a 3D painting at HK 3D Museum in Hong Kong. (Photo: Reuters)