Equity benchmarks stalled the follow-up rally by erasing more than 190 points on Sensex on the back of profit booking in major sectors like infrastructure, financial, telecom and oil & gas. The sell-off as well as consolidation was imminent because the Sensex rallied more than 650 points from Wednesday till today's spike up in initial trade.
L&T infrastructure Finance, a unit of construction conglomerate Larsen & Toubro said it will raise up to 7 billion rupees by selling 10-year bonds to retail investors.
Reliance Capital on Thursday "categorically" denied a TV report that it was in talks for a 26 percent stake sale to U.S. fund firm T Rowe Price.
Global Cues:
L&T infrastructure Finance, a unit of construction conglomerate Larsen & Toubro said it will raise up to 7 billion rupees by selling 10-year bonds to retail investors.
Reliance Capital on Thursday "categorically" denied a TV report that it was in talks for a 26 percent stake sale to U.S. fund firm T Rowe Price.
Global Cues:
Asian markets edged higher on Thursday, 14 October 2010, as strengthening economic and corporate earnings data boosted confidence in a global recovery. The key benchmark indices in Japan, Indonesia, China, South Korea, Hong Kong, Taiwan and Singapore rose by between 0.23% to 1.82%.
European stocks surged to the highest level in three weeks as better-than-estimated earnings boosted confidence in the global economic recovery. Asian shares and U.S. index futures advanced.
Asia will end 2010 with strong growth but a faltering recovery in the United States and Europe will hurt export-oriented Asian economies more than domestically focused ones in 2011, a Reuters quarterly poll shows.
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