The Sensex continues to be above 10,000. Wide-spread gains in all sectors such as realty and auto. The Bombay Stock Exchange’s benchmark index, Sensex closed at 10,099.9, up by 23.5 points. The NSE’s Nifty-50 closed at 3077.5, up by 16.7 points. In bullion market, the yellow metal is being quoted at Rs.12,757/10gm and silver at Rs.17,457/kg. Nymex crude was trading lower at around 36.1 US dollars a barrel. The US dollar was at around Rs.47.2.
Chanda Kochhar is appointed as MD and CEO of ICICI bank till March 2014. All the best to Chanda. K.V. Kamth is named non-executive Chairman.
Reliance Industries Limited is right-sizing its work-force. New investments such as semi-conductor business are on hold.
India government is likely to table The Insurance Bill in February, 2009. Foreign Direct Investment is to be hiked to 49% from 26% at present.
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