Stocks moved in a narrow range at Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 13,995.4, down by 47.3 points. Nifty 50 closed at 4223, down by 22.2 points. In bullion market, gold and silver were up, gold is being quoted at Rs.12,827/10gm and silver at Rs.20,128/kg. Nymex crude was trading at around 107 US dollar a barrel. Rupee rises. The US dollar was at Rs.45.4.
Global markets may be near a bottom. Expect Asian markets to remain choppy. Financial data providers are hit. Thomson Reuters begun cost cutting measures.
Goldman & Morgan will be regulated by US Federal Reserve.
Nomura is trying to clinch a deal to buy-out Asian arm of Lehman Bros.
Reliance oil flow: Mukesh Ambani says that the challenge of value creation lies in building real assets. He announces the first commercial flow of oil from the depths of the east coast. With the Reliance’s contribution, the oil & gas contributes over 40% to India’s Energy Sector.
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