Today, there were some gains at the fag-end of the trading hours at Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 13,315.6 up by 52.7 points. Nifty 50 closed at 4038 up by 29.9 points. In bullion market, gold and silver were bullish and gold is being quoted at Rs.12,920/10gm and silver higher at Rs.20,149/kg. Nymex crude was trading higer at around 100 US dollar a barrel and Rupee weakens further and the US dollar was at Rs.46.4.
Global Financial turmoil: To ease the global credit crunch, in a well coordinated move, Central Banks around the world pump billions (over 180 billions) of dollars to keep the funds flowing.
US FDA bans 30 generic drugs produced by Ranbaxy at its Dewas and Paonta Sahib plants in India on quality fear.
Barclays, the British Bank, buys the broken investment firm’s core capital market businesses for US$1.75 billion, far less than Lehman had hoped for. This could save 8,000 to 10,000 Lehman jobs.
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