Black money disclosures by Modi govt selective black mail, says Goa Congress

Sharemasterindia.com: Opposition Congress in Goa today termed Narendra Modi-led Bharatiya Janata Party (BJP) government’s disclosure of names of those allegedly holding illegal money abroad as “selective blackmailing of a few people”, and dared Centre to reveal all names on the list at once.
“We dare Modi government to disclose in one slot all the 700 names which are in the list as claimed by BJP,” Goa Pradesh Congress Committee Spokesman Sunil Kawthankar told a press conference here.
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State-run Banks Gain; Government Plans New Process for Appointing Officials

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State-run banks edge higher after government planned to draw up a new process to appoint top officials at lenders.
Bank of Baroda Ltd gained 0.7 per cent; Oriental Bank of Commerce Ltd was up 0.4 per cent.
Government decided late Monday to draw up a new process to appoint top officials at state-run banks, as part of its efforts to fix a distressed banking system that is hampering the economy’s recovery from its longest slowdown in years.

JSW Steel Falls 4% on Reports of CBI Probe

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Shares in JSW Steel slumped over 4 per cent to a day low of rupee“>Rs. 1,180 on Tuesday as media reports suggest that the Central Bureau of Investigation (CBI) has registered a preliminary Enquiry against the company relating to irregularities in obtaining environment clearance.
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Jubilant Foodworks Falls Ahead of Earnings

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Jubilant Foodworks falls 2.2 per cent today. The company will announce its Q2 results on Thursday.
Traders worried that the company’s July-September same store sales might be weak given increasing competition.

Ruchi Soya Jumps; India May Hike Import Taxes on Cooking Oil

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Ruchi Soya Industries Ltd jumped as much as 7.3 per cent today.
Government is considering raising import taxes on crude and refined vegetable oils to protect local farmers and the refining industry, two government sources said on Monday, as purchases by the world’s top importer are expected to hit a record this year.Read More....

Sensex, Nifty Edge Higher; Banks Lead Gains

BSE Sensex and Nifty were higher today but the gains were capped amid weak global markets ahead of the US Federal Reserve’s two-day meeting.
The Sensex was up 60 points to 26,813 while Nifty edged higher by 14 points to regain the 8000 level.
Asian shares wobbled on Tuesday, with investors cautious ahead of the US Federal Reserve’s two-day meeting and as oil prices extended declines.
The Fed is expected to announce the completion of its quantitative easing programme after a two-day meeting starting later in the session and will likely reinforce its stated willingness to wait a long while before hiking interest rates after a volatile month in financial markets. “With the end of the asset purchase programme a foregone conclusion, speculation is once again mounting about the movement of interest rates,” said Evan Lucas, market strategist at IG.
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Asian Shares, Dollar Tread Cautiously Ahead of Fed Meeting

 

Tokyo(Sharemasterindia.com): Asian shares were modestly higher while the dollar held steady on Tuesday, as investors awaited the outcome of the US Federal Reserve’s two-day meeting that begins later in the session for clues to the direction of US interest rates.
MSCI’s broadest index of Asia-Pacific shares outside Japan shrugged off early losses and a lacklustre performance on Wall Street to rise about 0.3 per cent.
But Japan’s Nikkei stock average extended losses, shedding 0.8 per cent on concerns over corporate earnings after disappointing results from Canon Inc, despite upbeat economic data released before the market open.
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Rupee down 6 paise v/s dollar in early trade

Sharemasterindia.com: The rupee depreciated by 6 paise to 61.36 against the dollar in early trade today at the Interbank Foreign Exchange market due to month-end demand for the US currency from importers.
Forex dealers attributed the rupee’s fall to month-end demand for the US currency from importers but dollar’s weakness against other units and a higher opening in the domestic equity market capped the fall.
The rupee had softened by three paise to end at 61.30 against the American currency in yesterday’s trade on increased demand from oil importers amid weakness in local equities.
Meanwhile, the benchmark BSE Sensex rose by 81.43 points, or 0.30 %, to 26,834.33 in early trade today.