The Mumbai Stock Exchange’s benchmark index, Sensex slipped further down today. The sensex remained below the 10,000 level, at 9385.4, down by 150.9 points. The NSE’s Nifty 50 closed lower at 2810, down by 38 points. Banking, auto and realty stocks were down. In bullion market, gold is being quoted at Rs.11,653/10gm and silver at Rs.16,230/kg. Crude prices eased further. Nymex crude was trading low at around 57.6 US dollars a barrel. The US dollar was at Rs.49.
Inflation in India slowed down to 8.98% in the week ended November 1, 2008. It is the first time in 5 months that the inflation is at single digit.
The government is planning to impress upon the banks to accelerate lending to realty sector which is facing acute shortage of funds.
Global financial think tank,G20 plan to meet this weekend. It is an emergency summit to decide on how to contain the damage from the global financial crisis. Indian Prime Minister will be present at the summit.
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