Gold and silver shot up the most in over eight months on the bullion market here today with the Budget 2010-11 announcing a hike in import duty on the metals. While gold spurted by Rs 300 to Rs 17,010 per ten grams, silver shot up by Rs 750 to Rs 25,800 per kg after Finance [...]

Government bond yields eased four basis points to 7.78 per cent after the finance minister projected the fiscal deficit for the next fiscal year at 5.5 per cent, which was lower than market expectations. The yield on the benchmark 10-year government bond fell to 7.78 per cent after the FY11 fiscal deficit announcement. It had [...]

Initial public offerings by Chinese companies in the US are suffering their longest slump since at least 2004 after providing twice the return of American IPOs over the past five years. Chinese companies that sold shares in the US last quarter fell an average 4.8% in their first month of trading, with losses deepening to [...]

The dollar was under pressure against the euro and slightly rebounded against the yen in Asian trade on Friday after higher US jobless Forex Converter Convert Rs.To benefit claims clouded the outlook for the world’s largest economy. The greenback traded slightly higher at 89.24 yen in Tokyo morning trade from 89.09 yen in New York [...]

The Indian rupee rose on Friday, tracking stronger domestic stock markets, after the Union Budget presented by Finance Minister Pranab Forex Converter Convert Rs.To Mukherjee earlier in the day raised expectations it would boost consumption. The partially convertible rupee was at 46.1250/1350 per dollar, off an intraday high of 46.1125, and stronger than Thursday’s close [...]

Global stocks slid and oil slumped more than 3 percent on Thursday after weak US jobless and durable goods data added to investor Global factors investor need to track nervousness about the sustainability of an economic recovery in a market already rattled by a possible Greek debt downgrade. The yen and the dollar, traditional safe-haven [...]

US stocks recovered most of their losses, but ended lower on Thursday after weak employment and durable goods data added to recent worries about the strength of the economic recovery. The Dow Jones industrial average slipped 53.13 points, or 0.51 percent, to close unofficially at 10,321.03. The Standard & Poor’s 500 Index declined 2.30 points, [...]

Asian stock markets were mostly higher on Friday, while the euro regained some ground after swooning on concerns about Greece’s financial crisis. The regional move higher came despite U.S. and European markets slipping overnight. Oil prices headed toward $79 a barrel. Greece’s uncertain outlook as it struggles with a financial crisis has intensified broader fears [...]

The BSE Auto index extended gains to over 3 percent on Friday as investors had already factored in the rise in excise duty on large cars and vehicles in the federal buget, analysts said. Finance Minister Pranab Mukherjee said the 2 percentage point excise duty cut that was part of the stimulus package last year [...]

Aditya Birla group company Grasim Industries today said it has received shareholders approval for the merger of Samruddhi Cement with UltraTech Cement. The equity shareholders of Grasim Industries at the extraordinary general meeting held yesterday have unanimously approved the Scheme of Amalgamation of Samruddhi Cement Ltd with UltraTech Cement Ltd, Grasim Industries said in a [...]