Stock markets were choppy in Mumbai’s Dalal Street. The stocks crashed further to a new low level. The Mumbai Stock Exchange’s benchmark index, Sensex closed at 11,328, down by another 367 points. The NSE’s Nifty 50 closed at 3513, down by 92.9 points. In bullion market, precious metals flared up and gold is being quoted at Rs.13,892/10gm and silver at Rs.19,735 /kg. Nymex crude was trading low at around 87 US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.48.0.
IMF cuts down India’s GDP forecast for 2008 to 7.9% from 8.0%.
International Airport to come up at Tirupati. Good for NRIs and tourists to India. They can have Balaji’s Darshan first.
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