The Mumbai Stock Exchange’s benchmark index, Sensex showed upward trend today. However, the sensex remained below the 10,000 level, at 9964.2, up by 230 points. The NSE’s Nifty 50 closed higher at 2973, up by 80.3 points. In bullion market, gold is being quoted at Rs.11,549/10gm and silver at Rs.16,970/kg. Crude prices eased further. Nymex crude was trading low at around 62 US dollars a barrel.The US dollar was at Rs.47.6.
There is slowdown everywhere in the industry. Companies, such as Ashok Leyland, Tata Motors, are reducing production of commercial vehicle.
Home, auto and other loans are set to get cheaper. The public sector banks cut PLR by 75 BPS. This will translate into lowering of EMIs. Slashed rates may boost realty sector.
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