Today again, there were all round losses in the Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed lower at 14,000.8, down by 323.5 points. Nifty 50 closed at 4228.4, down by 61.6 points. In bullion market, gold is being quoted at Rs.11,363/10gm and silver was quoted at Rs.18,180/kg. Nymex crude was trading at around 102 US dollar a barrel and Rupee weakens further and the US dollar was at Rs.45.7.
Government approves bio-fuel policy. The government set 2017 as target to sell petrol mixed with one-fifth of sugarcane extracted ethanol and diesel doped with non-edible oil with a view to cut the nation’s dependence on expensive oil imports.
GMR Energy plans to invest Rs.10,000 Crore in setting up a 2000-3000MW nuclear power plant in the country in the next 5-7 years.
Inflation dropped to 12.1% for the week ending August 20 from the previous level of 12.34%.
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