Economy & Markets
Commodities & Forex
? Coal India's 5% follow-on public offer is likely to hit
the market by the second week of December, just
ahead of a three-day strike called by the unions for
December 17.
? Benchmark 10-year bond yields dropped as much
as 22 basis points at one point, while overnight index
swap rates also plunged.
?Nifty had surged close to 6,000 mark in early trade
on the back of rally in rate sensitives after the
Reserve Bank of India reduced the rate under the
marginal standing facility (MSF) by 50 basis points to
9 percent and introduced lending to banks for seven
days and 14 days, instead of the current practice of
just a day.
?The MSF cut will ease short-term rates and
companies are likely to borrow from the commercial
paper (CP) market instead of banks.
?India's foreign exchange (forex) reserves fell
by $1.11 billion to $276.26 billion for the week
ended on Sep 27 as compared to $277.38 billion
in the previous week due to a sharp drop in the
value of foreign currency assets.
?The government wants to kill the rupee NDF
market - where contracts in the currency worth
billions of dollars are traded every day - by
persuading those active in it to shift to the
onshore currency futures market in India by
easing restrictions.
?US default could lead to a "Lehman-type global
collapse" and could slash about 80 basis points
from India's GDP, which means that growth in
fiscal year 2013-14 could be as low as 3.8 per
cent.
Sensex
19,368
19,230
18,947
18,598
30-Sep-13
30 Sept
6 Oct
01-Oct-13
02-Oct-13
03-Oct-13
04-Oct-13