1. The stock markets today: After yesterday’s rally, most of the stocks including technology, IT, banking, power and communications were trading low. The BSE’s benchmark index, Sensex closed lower at 14,777, down by 165 points. Nifty 50 closed at 4433, down by 43 points. In bullion market, precious metals were down and gold is being quoted at Rs.12,603/10gm and silver at Rs.24,406/kg. Nymex crude oil was trading lower at US$125 a barrel. Rupee was at Rs.42.14 a dollar.
2. Speed up reforms: Indian Finance Minister said the government, which is now free from Left parties, would try to speed up reforms that could see passage of pending bills including insurance, pension funds and banking bills.
3. 3G mobile services: The government is all set to usher in next generation, 3G mobile services, and WiMax broadband services in the country and will announce the guidelines for the same.
4. Interest in debt funds: The uncertainty in the stock markets has led to a renewed interest in debt and cash funds. The assets under management (AUM) of debt funds jumped 45.5% between Jan 31 and June 30 this year. This is two-fold jump compared to the same period previous year.
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