Bears again took control over the Indian markets in February 2011. Unrest in Egypt over resignation of President Hosni Mubarak, concerns of political instability over the 2G spectrum scandal coupled with violence in Libya leading to a rise in crude oil prices disrupted the investor sentiment. Crude oil prices touched the 30-month high level on unrest in Libya while 2G scam also created havoc after former telecom minister A Raja alongwith his private secretaries and DB Realty’s Managing Director Shahid Balwa were arrested by the Central Bureau of Investigation. Foreign institutional investors (FIIs), the key drivers of Indian markets, reduced their exposure owing to such tensions leading to a further decline in markets. India’s index of industrial production (IIP) data fell to 1.6% for the month of December 2010 as compared to 2.7% seen in previous month also weighed on the markets.
Thankyou mr.Nelson
ReplyDelete• UCO Bank: The bank by the way of preferential allotment, has approved issue of shares to the Government of India against proposed capital infusion of Rs 1150 crore.
ReplyDelete• Shriram EPC: The company from United Republic of Tanzania, Tanzania has received order worth $107.8 million in JV with Larsen & Toubro.
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