What a comeback! today again, there were some more gains at Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,042.3 up by 726.7 points. Nifty 50 closed at 4245.2 up by 207 points. In bullion market, gold and silver were down, gold is being quoted at Rs.12,617/10gm and silver at Rs.19,345/kg. Nymex crude was trading at around 101 US dollar a barrel and the US dollar was at Rs.45.8.
India equipped to tackle the financial crisis: The regulators, IRDA and RBI have assured the Finance Minister that the US crisis is not going to affect India financial sector. The net non-performing assets of the entire banking sector are less than 2%, and it is well capitalized. The capital adequacy ratio is around 13% as against the statutory requirement of 8 to 9%.
Morgan Stanley looks for a buyer. Deutsche Bank laps up Morgan India sale.
Inflation rose moderately to 12.14% for the first week of September, 2008 due to increase in rates of some food items.
The US financial crisis is expected to have an impact on the global carbon credit market. Morgan Stanley and Lehman Bros are said to have huge carbon assets.
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