Indian Market:
Nifty closed flat with a positive bias on expiry day for the month of August 2010. The index, which has been range bound since last month itself, when it was trading in 5350-5450 range, has now moved up to the 5450-5550 range.
Drug major Cipla will acquire domestic pharmaceutical company Meditab Specialties for Rs 133.35 crore. The company's board also announced a special interim dividend of 80 paise per share to mark the company's 75th anniversary.
The fate of BlackBerry's encrypted email and messaging services in India will be decided in last-ditch talks starting on Thursday between the smart phone's maker and security agencies ahead of an Aug. 31 deadline.
Nifty closed flat with a positive bias on expiry day for the month of August 2010. The index, which has been range bound since last month itself, when it was trading in 5350-5450 range, has now moved up to the 5450-5550 range.
Drug major Cipla will acquire domestic pharmaceutical company Meditab Specialties for Rs 133.35 crore. The company's board also announced a special interim dividend of 80 paise per share to mark the company's 75th anniversary.
The fate of BlackBerry's encrypted email and messaging services in India will be decided in last-ditch talks starting on Thursday between the smart phone's maker and security agencies ahead of an Aug. 31 deadline.
Global Cues:
Asian stocks rose in choppy trade amid speculation the fall in share prices this month has made valuations cheap relative to earnings. The key benchmark indices in China, Japan, Singapore and South Korea were up by between 0.12% to 0.31%. The key benchmark indices in Hong Kong, Indonesia and Taiwan were down by between 0.01% to 0.72%.
US stocks staged a comeback on Wednesday, breaking a four-day losing streak by major indexes, as key technical support triggered bargain hunting that offset weak economic data. The market had sagged as much as 1% after data showed new single-family home sales slumped to a record slow pace in July and orders for manufactured durable goods rose far less than anticipated.
The United States government needs to take steps to preserve its top AAA-rating, a Standard & Poor's Ratings (S&P) official told Dow Jones newswire in an interview published on Thursday.
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