Ummid Assistant

Hajj committee's IAS coaching cell invites applications for new batch

AMU Centre for Distance Education to add five more study centres

Welcome Guest! You are here: Home Business & Economy

Market bounces back, Mukherjee says sign of strong fundamentals

Tuesday August 09, 2011 08:09:37 PM, IANS

Related Articles

Sensex falls further as market meltdown continues

The selling spree continued at Indian equities markets Tuesday with a benchmark index falling over 550 points in opening  

Mayhem in Indian markets on US ratings downgrade

New Delhi: Indian equities markets, which stemmed losses Tuesday, were a sign of the economy's strong fundamentals, Finance Minister Pranab Mukherjee said Tuesday.

"I would like to emphasis that some of the investment banks have upgraded India to market weight, that means the basic fundamentals are strong and macroeconomic recovery is moving in a positive direction," Mukherjee said referring to a report released Monday by investment banking firm Goldman Sachs.

The 30-scrip benchmark of the Bombay Stock Exchange, Sensex, which fell over 550 points in early trade Tuesday, almost recovered its losses in the afternoon before closing with a 132.27 points or 0.78 percent loss at 16,857.91 points.

The minister said the Indian markets managing to pare its early losses signified the resilience of the Indian economy.

In comparison, Asian markets closed deep in the red.

The benchmark Japanese Nikkei closed 1.68 percent down at 8,944.48 points, while the Chinese Shanghai Composite index too closed flat at 2,526.07 points.

Hong Kong's Hang Seng fell a huge 5.66 percent lower at 19,330.7 points.





Bookmark and Share

Home | Top of the Page



Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS




Top Stories

BJP demands Sikshit's resignation, Cong Modi's head;

Parliament adjourned

Both the houses of parliament were adjourned till noon Tuesday as the opposition persisted with its demand for Delhi Chief Minister 

Parliament adjourned for the day over CAG report

PMO, Delhi CM indicted for Commonwealth Games flaws


  Most Read

Gujarat police officer Sanjiv Bhatt suspended

Sanjiv Bhatt, Gujarat cadre IPS officer, who shot into the limelight after his claimed presence at a crucial meeting of Chief Minister Narendra Modi on the night after the Godhra train carnage in 2002 where a signal for retributory 

Sensex falls further as market meltdown continues

The selling spree continued at Indian equities markets Tuesday with a benchmark index falling over 550 points in opening  

Mayhem in Indian markets on US ratings downgrade


  News Pick

Apex court admits plea against Ayodhya verdict

The Supreme Court Monday admitted a petition by the Akhil Bhartiya Shri Ram Janmabhoomi Punarudhar Samiti challenging the Allahabad High Court verdict in the Babri Masjid case. An apex court bench of Justice  

Riots spread across Britain, over 450 people held

Rioting and arson Tuesday spread from London to other cities in Britain 

India-England third Test in jeopardy as riots spread to Birmingham

Slain Lashkar 'terrorist' a civilian: Sources

A man gunned down by the army and the Jammu and Kashmir Police, who claimed he was a Lashkar-e-Toiba (LeT) commander, has been identified as a mentally unstable civilian, army sources said Monday. Security personnel 

British troop chops off dead Taliban's fingers as trophies

A probe was launched by the British defence ministry into claims that a soldier cut fingers off dead Taliban fighters to keep as souvenirs, BBC reported Monday. The allegations relate to a soldier from the Argyll and Sutherland  


Picture of the Day

Muslims go to Makkah al Mukarrema in Saudi Arabia for Umrah entire year other than Haj times. However, during Ramadan, number of Umrah visitors increases manifold. According to a rough estimate, over 2.5 million Muslims come from across the world to Makkah al Mukarrema for Umrah during Ramadan.




RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant






About us




Government Schemes










Contact us





      Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.