Asian markets ended deep in the red. The stock markets in Mumbai recovered by 300 points from the day’s low. Infra and realty stocks gained. The Bombay Stock Exchange’s benchmark index, Sensex closed at 8739.2, down by 100.6 points. The NSE’s Nifty-50 closed at 2657. 8, down by 25.1 points. In bullion market, gold is being quoted at Rs.12,488/10gm and silver at Rs.16,022/kg. Nymex crude was trading low at around 48.7 US dollars a barrel. The US dollar was at around Rs.50.
The Mumbai-based Tata Motors, the makers of Jaguar and Land Rover vehicles, will borrow $1.2 billion to refinance debt from the acquisition.
Recession in the US and Europe has begun to affect India with exports declining 12% in October. Imports registered 10.6% growth in October over the previous year.
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