(Rs. 1 Lac
(Rs. 2 Lac
(Rs. 5 Lac
2.50 to 3 (Seller)
MT Educare Ltd
3.50 to 4
Wednesday, April 11, 2012
Prices move up in late buying as weak stock markets provide support
Bullion metal prices ended higher on Tuesday, 10 April 2012 at Comex. Comex gold futures prices ended a choppy trading session with solid price gains on a late surge that saw fresh safe-haven investment demand featured. Weaker stock markets and some fresh jitters coming out of the European Union worked to support the safe-haven demand for gold Tuesday.
Gold for June delivery ended higher by $16.8 or 1%, to end at $1,660.7 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. The metal traded as low as $1,632.5. The metal had shed 2.5% last week.
The market may edge lower in early trade tracking weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 36 points at the opening bell.
Key benchmark indices eked out small gains on Tuesday, 10 April 2012 on reports the monsoon rains, crucial to farm output, will arrive in time this year. The BSE Sensex advanced 21.70 points or 0.13% to settle at 17,243.84, its highest closing level since 4 April 2012.
Foreign institutional investors (FIIs) sold shares worth Rs 328.66 crore on Tuesday, 10 April 2012, as per provisional data from the stock exchanges. FIIs had sold shares worth Rs 269.43 crore on Monday, 9 April 2012.
Coal India Ltd overstated its manpower productivity for five years between April 2006 and March 2011 according to the leaked draft report of the CAG. (BS)
GMR Infrastructure has finalised plans to raise debt of Rs54bn from IDBI to finance its recently won highway project between Rajasthan and Gujarat. (BS)
Reliance Industries Ltd is evaluating provisions of the Arbitration Act to take forward its claim to resolve the cost-recovery issue in the KG-D6 block. (BS)
The Indian stock indices ended almost unchanged at the end of another lackluster trading session, as market players preferred to stay on the sidelines ahead of important domestic events in the coming days. IIP, inflation and Infosys results will drive the sentiment in the remainder of the week. Market is also looking forward to next week's RBI monetary policy to gauge the central bank's view on macro-economic fundamentals.
The BSE Sensex ended at 17,244, up 22 points or ~0.2% over the previous close. It had earlier touched a day’s low of 17,135 and a day’s high of 17,274. It opened at 17,259.
The NSE Nifty settled at 5,244, up 9 points or 0.2% over the previous close. It touched a day’s low of 5,212 and day’s high of 5,256.
Better be despised for too anxious apprehensions, than ruined by too confident security. - Edmund Burke.
Stocks are set to drop anew as a global selloff worsens amid worries about slowing economic growth. After the disappointing US jobs report and Chinese data, the bad news now emanates from Europe. Stocks in Italy and Spain crashed, as a sharp rise in borrowing costs revived concerns about the region’s sovereign debt crisis. A sharp fall in Italian and Spanish equities dragged down European and US markets. Asian markets too are jittery this morning.
In a rare development, Greek stocks jumped after the country raised €1.3bn from six-month T-bills. Also, nearly all Greek bondholders have agreed to restructure debt. Alcoa has posted a surprise profit for the latest quarter. Separately, OECD’s leading indicator of economic activity shows signs of improvement across all major economies.
Today’s start is expected to be on a weak note led by negative global cues and on account of SGX Nifty trading 41 points lower.
Headlines for the day:
Airtel to launch 4G service in Bangalore in 30 days.
Rel Cap Trustee buys 8 lakh shares in Titagarh Wagons.
Maran gets 42 mn SpiceJet shares for Rs23.18.
Govt may decide on aviation FDI on Thursday.
India pitches for higher rating from S&P.
OBC cuts lending, deposit rates by up to 50 bps.