1. The stock markets today: Markets rallied on reform hopes after the government winning the Trust vote. The BSE’s benchmark index, Sensex closed higher at 14,942, up by 838 points. Infrastructure and Banking stocks lead the rally. Nifty 50 closed at 4476, up by 237 points. In bullion market, precious metals were down and gold was quoted at Rs.12,820/10gm and silver at Rs.24,680/kg. Nymex crude oil was trading lower at US$126.6 a barrel. Rupee was at Rs.42.08 a dollar on Tuesday, 10 week high.
2. Trust vote: India’s UPA government survived the Trust vote yesterday. Finally, the government id out of Left’s shackles, says business community. Wave of economic reforms likely to follow.
3. BSNL’s US$10 billion expansion plan: To take on private telecom sector players, the state-run Bharat Sanchar Nigam (BSNL) plans to invest Rs.42,000 Cr over the next three years, mainly on network expansion projects.
4. Donald Trump Jr to invest in India: Donald Trump Jr. plans to set a fund of US$1 billion to buy property in India. The proposals include residential and hotel projects in Mumbai.
5. Bearish market trend: Global services major Morgan Stanley expects the bearish trend in global market nearing climax and foresees reversal of the trend soon.
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