Indian Market:
Equity benchmarks closed rangebound session on a flat note. Indices crossed their psychological levels in opening trade but could not hold for rest of the day. Overall the market consolidated for third consecutive session.
Labour Minister Harish Rawat says the government is confident of creating 58 million additional jobs by the end of the 11th Five Year Plan in 2012 thanks to the smart recovery in the farm sector and its resultant impact on the rural economy.
Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Monday urged state-run banks to speed up financial inclusion to reach the people by opening up more Financial Inclusion Resource Centres (FIRCs) across the country.
Global Cues:
Most Asian stocks fell on China rate hike worries. Hong Kong and Chinese stocks dropped early Tuesday after mainland media reportedly said Beijing may increase interest rates again this weekend, with banks and property developers leading the decline.
U.S. stocks fell, snapping a three- day rally in the Standard & Poor's 500 Index, after Federal Reserve Chairman Ben S. Bernanke said the world's largest economy may need more stimulus.
Oil traded near its highest in 26 months ahead of a report forecast to show that U.S. crude stockpiles declined for the first time in three weeks.
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