Wide-spread losses witnessed today in stocks trading at stock exchanges in Mumbai. The Bombay Stock Exchange’s benchmark index, Sensex closed below 10,000, at.9928.3, down by 171.5 points. The NSE’s Nifty-50 closed at 3039.3, down by 38.2 points. In bullion market, the yellow metal is being quoted higher at Rs.12,963/10gm and silver at Rs.17,765/kg. Crude oil prices flared up. Nymex crude was trading lower at around 42.6 US dollars a barrel. Money market was subdued. The US dollar was at around Rs.47.9.
Current crude prices are straining the margins: says ONGC Chief.
Reliance Industries Limited is under pressure from US to cease gasoline shipments to Iran. Reliance at times provided as much as 30% of Iran’s need for imported petroleum.
Anil Ambani incorporated National Agriculture Produce Marketing Company (APMC), a subsidiary of Reliance Money, to offer spot trading in agro produces, initially on a sate by state basis. The exchange will start operations in select commodities such as castor and sesame in Gujarat. .
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