The stock markets in Mumbai were going strong today. The Bombay Stock Exchange’s benchmark index, Sensex closed at 9162.6, up by 197.4 points. The NSE’s Nifty-50 closed at 2784, up by 69.6 points. In bullion market, gold is being quoted at Rs.12,323/10gm and silver at Rs.16,875/kg. Nymex crude was trading low at around 43.2 US dollars a barrel. The US dollar was at around Rs.50.
PM declares economic stimulus package to boost infrastructure. The government announced 4% cut in Cenvat rate to boost demand of commodity in the domestic market. Steel prices to come down. Auto prices to fall by 4% or more.
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