There were overall gains in the stock markets in Mumbai’s Dalal Street. The Mumbai Stock Exchange’s benchmark index, Sensex closed at 11,332, up by 804 points! The NSE’s Nifty 50 closed at 3490.7, up by 210.7 points. India government may ban short-selling of stocks to control market slide.
In bullion market, precious metals were subdued today and gold is being quoted at Rs.13,249/10gm and silver at Rs.18,460 /kg. Nymex crude was trading low at around 81US dollars a barrel. Rupee loses further against the dollar. The US dollar was at Rs.48.1. Cotton declines.
European markets also gain. UK government brings out $64 billion lifeline for banks to build trust and confidence in the banking system. The Indian private banking giant says that the ICICI financial health is stable and there are no loan defaulters in foreign operations.
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