Foreign investors buy Rs. 5000 crore worth of shares in 4 days

http://profit.ndtv.com/news/market/article-foreign-investors-buy-rs-5000-crore-worth-of-shares-in-4-days-326994 …

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Oil drops to near $107 a barrel after Barack Obama speech

http://ecoti.ms/31yvtZ

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Sensex up 144 points in early trade

Mumbai: Continuing its rising streak for the third straight day, the BSE benchmark Sensex today rose 144 points in early trade on expectations that the government would take steps to attract capital flows to fund the current account deficit. Besides, a firming trend in the Asian region also influenced the trading sentiment. The 30-share barometer rose 143.77 points, or 0.78 per cent, to 18,663.21 with stocks of capital goods, realty, power and banking sectors leading the rally. The index had gained 613.53 points in the previous two sessions. Similarly, the wide-based National Stock Exchange index Nifty moved up by 37.10 points, or 0.68 per cent, to 5,508.85. Brokers said the sentiment buoyed on increased buying by funds as well as retail investors after the Finance Ministry said on Saturday steps to attract capital flows to fund the current account deficit can be expected within a week. Further, a firming trend in the Asian region as speculation eased over whether the Federal Reserve will begin an early tapering of its massive stimulus programme too influenced the sentiment, they said. In the Asian region, Japan's Nikkei was up by 0.43 per cent, while Hong Kong's Hang Seng gained 0.78 per cent in early trade. The US Dow Jones Industrial Average ended 0.31 per cent on Friday.

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Bank of India: Credit growth for Agri, Retail & SME sectors has been good

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Rupee, bonds weaken at open; further falls expected

Mumbai: The rupee on Monday again turned weak and plunged 70 paise to 63.90 against the US dollar in early trade after strong recovery on Friday, due to increased demand for the American currency from importers and some banks. Dealers said besides increased month-end demand for dollar from importers, dollar's gain against some currencies overseas put pressure on the domestic currency. However, a higher opening in the domestic equity market, capped the rupee's fall, they said. The rupee had made a stunning comeback by rising 135 paise to close at 63.20, its second-biggest rise in a decade against the dollar on Friday. Meanwhile, the BSE benchmark Sensex rose further by 143.77, or 0.78 percent, at 18,663.21 in early trade today.

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GOOD MORNING TO ALL - HAPPY TRADING

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Financial Tech slips 20% as NSEL defaults on payout

NEW DELHI: Financial Technologies (India) Ltd plunged as much as 20 per cent in morning trade after its subsidiary National Spot Exchange (NSEL) defaulted on payments to investors on Tuesday. The first payout from borrowers on NSEL to 148 broker members, representing 13,000 investors, was unsuccessful with the exchange managing to recover Rs 92.12 crore against the Rs 174.72 crore it was supposed to pay out every week for the next five months beginning August 20. The total amount due to be paid out is Rs 5574.31 crore over 30 weeks. At 09:40 a.m.; Financial Technologies recouped some of the morning losses and was trading 6.3 per cent lower at Rs 132.40. It has hit a low of Rs 113.05 and a high of Rs 140 in trade today. Shares in Multi Commodity Exchange of India, another FT-promoted entity were locked in upper circuit on the Bombay Stock Exchange. The stock was up 5 per cent at Rs 281.55. On Tuesday, market regulator FMC wrote a letter to the bourse's board saying it risked losing its "fit and proper person" status, and warned that in the event of such an "eventuality" it could not continue to hold directorship or shareholding in MCX or any other recognised commodity futures exchange. " Anjani Sinha, MD & CEO, and six other officials of NSEL were stripped of their posts on Tuesday after the troubled bourse failed to clear its first payout," ET reported. "NSEL's inability to meet the payout obligations may also cast a cloud of doubt on NSEL promoter FTIL's fitness to retain control over other exchanges such as MCX and MCX-SX," added the ET report.

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