Sensex closes at 3-year high; rupee surges to 61.77 vs Dollar

Fed retaining stimulus programme sees oil easing

Oil prices dropped yesterday on easing West Asia supply concerns and after a spike caused by the US Federal Reserve's surprise decision to maintain its aggressive stimulus programme. Brent North Sea crude for delivery in November slid 1.59 US Dollars to stand at 109.01 Dollars a barrel in l...

See subdued global growth despite recovery in major economies : IMF Chief

The International Monetary Fund, IMF chief says she sees subdued global growth ahead even with signs of recovery in major economies such as the US and Europe. Christine Lagarde spoke yesterday to the US Chamber ofCommerce, a few weeks before the IMF is to release its latest global economic forecasts...

Emerging markets rally on Fed move to keep stimulus<br/>

Emerging markets led a worldwide equity rally yesterday as investors welcomed the US Federal Reserve&apos;s surprise decision to keep its vast stimulus policy unchanged. Stock markets across the globe jumped following the Fed&apos;s announcement that it would hold off tapering its 85-billion...

Rupee surges 161 paise to close at over one-month high of 61.77 against dollar

The rupee surged 161 paise, to close at a more than one-month high of 61.77 against the dollar. The rupee rose by 142 paise to 61 rupees 96 paise in late morning trade today. The rise was attributed to fresh selling of the US currency by banks and exporters, triggered by sharp fall in dollar in over...

Sensex up 684 points to close at 20,647

Gold up 410 rupees in Delhi market

Gold shot up 410 rupees, to 30,810 rupees per ten grams at Delhi&apos;s bullion market, today, on heavy buying by stockists, triggered by a rally in the overseas markets. Silver jumped 990 rupees, to 51,200 rupes per kilo, on increased offtake by stockists, on the back of a firm global trend. Si...

SBI hikes lending rate to 9.80%

State Bank of India today increased its base rate or the minimum rate of lending to 9.80 per cent. In s statement, the SBI said, it has revised the base rate by 0.10 per cent from 9.70 per cent per annum to 9.80 per cent. The lending rate hikes are effective from today. The bank said, retail term de...

Surprise Fed move not to scale back stimulus raises Asia stocks

Asian stocks are rising after the US central bank unexpectedly said it will not scale back its stimulus programme until the economy improves further. Japan&apos;s Nikkei 225 index rose 1.3 per cent, Hong Kong&apos;s Hang Seng jumped 2 per cent and Australia&apos;s ASX 200 rose to five-ye...

Rupee surges 142 paise to 61.96 against Dollar

The rupee rose by 142 paise to 61.96 in late morning trade today on fresh selling of the US currency by banks and exporters. This was triggered by a sharp fall in the dollar overseas amid a smart rise in the equity market.In the New York market, the US dollar fell sharply against major rivals yester...