Stocks closed in a week note at Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 13,570.3, down by 424.6 points. Nifty 50 closed at 4126.9, down by 96 points. In bullion market, gold and silver were up, gold is being quoted at Rs.13,123/10gm and silver at Rs.20,780/kg. Nymex crude was trading at around 107 US dollar a barrel. Rupee loses further against the dollar. The US dollar was at Rs.45.8.
The Reserve Bank of India increased the ceilings on the External Commercial Borrowings (ECB) to US$500 million from the existing level of $100 million in each financial year. This is likely to make availability of funds to India companies.
Japan’s Nomura Holdings buys Lehman Asian operations for $525 million.
Government of India approved 28 proposals for Special Economic Zones (SEZs), including those of L&T, JSW Bengal Steel and Bharat Forge, entailing total investment of 72,000 Crore rupees.
Goldman & Morgan will be subjected to tighter regulations from several US governmental agencies. They will have access to full array of the Federal Reserve Bank’s lending facilities.
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