1. The stock markets today: The BSE’s benchmark index, sensex closed at 14,656, higher by 301 points. There were demands for IT, banks, telecom and steel stocks. Nifty 50 closed at 4413, up by 80 points. In bullion market, gold is being quoted at Rs.12,511/10gm and silver at Rs.24,500/kg. Nymex crude oil was trading at just over US$122 a barrel. Rupee was at Rs.42.37 a dollar.
2. HDFC, ICICI banks hike interest rates: Home owners who ha bought dream houses with loans from banks or financial institutions will be paying higher EMIs. The loan rates have been on an upward swing for almost 5 years now, from about 7.5% in October, 2003 to 11.75% per year (floating) now.
3. Japan’s Takeda eyes Torrent: Japan’s largest and oldest pharma giant Takeda Pharmaceutical Company is planning to acquire Mumbai-based Torrent Pharmaceuticals for an undisclosed amount.
4. Inflation rate rises: The price rise index- the inflation rate rose to 11.98% for the week ended July 19, 2008.
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