1. The Bombay Stock Exchange (BSE) sensex rose by 237 points to close at 16,481. The technology stocks have been in demand. The IT sector and banking sectors were also up by over 3% each. In the bullion market, gold closed at Rs.12,260/10gm and silver closed at Rs.24,480/kg.
2. Inflation rate declined to 7.14% from a 40-month high of 7.41% in the previous week. RBI tightens cash supply in market. The RBI increased the cash reserve ratio to 8% from 7.5%. Export duty on steel and iron ore to increase.
3. Shareholders of Reliance Energy Limited have approved the company’s proposal to change its name to Reliance Infrastructure. They also agreed to stock buy-back offer worth up to Rs.2000 Cr.
4. Crude oil and gasoline rose to record levels. Oil climbed to $115.21 a barel in New York.
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