1. Bombay Stock Exchange (BSC) sensex, the 30-share index closed at 15,588, down by 169 points. Tata Communication was the biggest loser and Tech Maindra and Yes Bank were the major gainers. In bullion market, gold closed higher at Rs.11,935/10gm and silver closed at 23,875/kg. Stock markets, in general, on Wednesday are down.
2. National Stock Exchange (NSC) launched its volatility index (also called a fear index), India VIX , which will be calculated using the prices of 50 stock options. The index measures the amount by which an underlying index is expected to fluctuate in the near term. The index closed at 31.40 points, up 1.32% on its debut on Tuesday.
3. Indian Chief Financial Officers get highest pay hike (25%) in Asia.
4. Government plans more steps to contain steel prices.
5. The newly appointed Minister of State for Power at the centre said that his main objective will be to ensure that 11,000 MW targeted power generation capacity was achieved for 2008-09.
6. Asian inflation begins to sting US shoppers as the local currencies rise against the dollar.
7. US-64 bonds of UTI, of face value Rs.100, are due for maturity on May 31, 2008.
8. Emerging markets are not safe from financial crisis says IMF. However, it noted that risks to Indian financial sector appeared manageable.
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