The rupee strengthened by 11 paise to Rs 48.94 a dollar in early trade on the Interbank Foreign Exchange market today on increased foreign capital inflows.
The Bombay Stock Exchange benchmark Sensex today made gains for the third straight day - up 131 points on sustained buying by funds, especially in IT and metal sectors amid strong gains in the Asian region on signs of growth in major global economies.
East India Hotels on Thursday posted 59.4% year-on-year rise in the net profit at Rs 45.3 crore from Rs 28.4 crore in the corresponding quarter recording previous year.
FMCG firm Marico on Thursday reported a consolidated net profit of Rs 84.1 crore for the third quarter ended December 31, 2011.
Public sector lender Corporation Bank on Thursday posted a 5% year-on-year rise in the net profit at Rs 402 crore for the quarter ended December, 2011 on low growth in net interest income and higher provision for bad loans. HT reports.
Shares of telecom and realty firms those involved in the alleged 2G scam fell sharply by up to 7% on Thursday on the BSE after the Supreme Court cancelled as many as 122 2G licences, but older telecom players such as Bharti Airtel and Idea Cellular bucked the trend with smart gains.
HT reports.
How the stocks moved
A benchmark index for Indian equities witnessed choppy trade Friday afternoon, moving in a narrow range of less than 100 points even as Bharti Airtel rose sharply for the second day after the Supreme Court order cancel 122 licences of eight telecom firms.
Extending gains for the fourth day in a row, the BSE benchmark Sensex today rose by 173 points on sustained buying driven by expectations of a cut in interest rates by the Reserve Bank.
The rupee rose to a three-month high of 48.7 on Friday, a gain of 46 paise, against the US dollar supported by foreign fund inflows into the local equity market and continued dollar selling by exporters and some banks.
HT reports.
Currency surgeA day after the Supreme Court verdict cancelling 122 2G telecom licences, most telecom stocks showed a muted performance on the Bombay Stock Exchange (BSE) on Friday. HT reports.
Prices of gold tumbled by Rs 600 while silver fell sharply by Rs 1,590 a kg on the bullion market here today due to heavy selling by stockists which took cues from weak global markets.
India's foreign exchange reserves increased by $673.4 million to $293.93 billion for the week ended Jan 27, Reserve Bank of India data showed.
The Bombay Stock Exchange benchmark Sensex today registered gains for the fifth straight session, rising over 102 points as realty and capital goods stocks led the rally on continued buying by funds, amid firm trend in the Asian region.
Sensex on Tuesday closed 84 points lower as traders booked profits after five consecutive weeks of rallying. Aviation stocks, however, shot up after the government approved carriers' demand of importing jet fuel directly - a move which will help airlines bring down operating costs.
Capital market regulator Securities Exchange Board of India (SEBI) on Wednesday notified new rules for private placement of shares to institutional investors through a new window called the Institutional Placement Programme (IPP).