14:57 | Rupee trading near the 57 mark, has fallen after new economic measures failed to lift sentiment
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14:56 | Sensex extends losses, down around 75 points now with 20 components in the red
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14:32 | RBI also allows SWFs, insurance, pension funds, foreign central banks, endowment funds, multilateral agencies to invest in govt bonds under $20 billion FII limit
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14:31 | Rupee trading at 56.73 versus the dollar
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14:30 | RBI says QFIs can invest in mutual fund schemes with 25% of assets in infrastructure under current $3 billion sub-limit
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14:25 | RBI says enhanced foreign investment limit in govt bonds by $5 billion to $20 billion
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13:10 | Sensex up 55 points at 17,029; touched 17,131 in trade earlier
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13:05 | Rupee currently trading at 56.66 versus the US dollar
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12:53 | RBI in talks with economic affairs secretary to boost economy
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12:52 | RBI to soon notify steps to boost economy: FM
A file photo of RBI governor D. Subbarao.
Economic affairs secretary R. Gopalan is in talks with the central bank on taking steps to bolster the economy, he said.
Mukherjee will resign from his post on Tuesday to run for President.
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12:50 | Pranab Mukherjee says will be resigning as finance minister on Tuesday
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11.40 | Hopes for FX measures lift Rupee from record low
The rupee rallied more than 1% on Monday on hopes for government measures to halt a slump in the currency, which hit a record low on Friday, with traders saying action to boost long-term foreign investment would be the most effective step.
Finance minister Pranab Mukherjee said at the weekend that the government would unveil measures on Monday. The fall in the rupee has mirrored a decline in economic growth to a nine-year low.
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11:21 | India’s rating outlook stable: Moody’s
Moody’s Investors Service on Monday said it was maintaining a stable outlook on India’s Baa3 rating as problems such as slower growth and higher inflation were long-standing and already factored into the outlook.
The agency said that global and domestic factors, including potential shocks in agriculture, could keep India’s growth below trend for the next few quarters. But it felt recent negative trends were unlikely to become permanent or even medium-term features of the Indian economy.
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10:37 | Sensex crosses 17,000 mark
The Bombay Stock Exchange Sensex gained over 144 points in early trade on Monday to cross the 17,000 level on buying by funds and retailers after finance minister Pranab Mukherjee on Saturday said the government will announce measures to improve market conditions.
The 30-share barometer, which had gained lost 60.05 points in the previous session, recovered by 144.16 points, or 0.84%, to trade at 17,116.67 with all sectoral indices, led by realty and metal, trading in positive zone.
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10.30 | ‘Govt likely to announce measures shortly’
The government is likely to announce measures shortly to boost the country’s flagging economy, NewsWire18 quoted economic affairs secretary R. Gopalan as saying, according to television reports.
Separately, Dow Jones Newswires reported that the government and the Reserve Bank of India will simultaneously announce measures to boost economic growth and revive the rupee.
