1. The Bombay Stock Exchange (BSE) sensex slid 259 points to close at 17,081. Inflationary concerns continued to worry the markets. In the bullion market, due to festive demand, gold closed higher at Rs.11,750/10gm and silver closed at Rs.23,120/kg.
2. Endorsing the government’s concern over steel prices contributing to inflation, cement companies decided to lower prices by about Rs.10 – 20 a bag from the current price of Rs.220 per 50 kg bag. Rupee falls to lowest level, Rs.41.76 against the US dollar, in over a year. Oil prices steady after jumping to a record near US$124 a barrel.
3. HSBC has admitted to losing a computer server with the transaction data of 159,000 account holders in Hong Kong. The server is protected by multiple layers of security and hence the risk of data leakage is deemed to be low.
4. Auto sector reports higher sales in the first month of new financial year, according to the figures released by the Society of Indian Automobile Manufacturers.
5. India is the key to emerging world order by 2022, says C.K. Prahalad, a distinguished University of Michigan Professor. This can achieved through its economic strength, technological vitality and moral leadership.
6. Revenues from mobile messaging are likely to grow to US$165 billion by 2011 across the world.
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