RBI HIKES CRR BY 50 BPS IN 2 STAGES TO 8.75%..EFFECTIVE FROM 5 LULY &19 JULY..RBI HIKES REPO RATE BY 50 % ALSO.

NEW DELHI, June 24 (Reuters) - This is supposed to be India's century, but the dangers of complacency have been starkly underlined with inflation hitting a 13-year high and stellar economic growth expected to tail off.

India is far from alone in struggling with higher global oil and food prices, but as the stock market crumbles, economists are wondering if some of the shine has not come off the India story, if the miracle was partly a myth

There was a fresh round of selling by European funds in the afternoon today, say dealers, reports CNBC-TV18. There's also lack of conviction to buy among FIIs; the buy:sell ratio is at 1:3, they say. Domestic funds are also not very active at current levels. Selling pressure in midcaps is likely to continue, they say. Dealers expect a short covering recovery in the Nifty before the expiry

Basically FII is short, and it wants to cover the short. As a rule, it has transfer to retail people. It will do that. When it looks like its a deep well ahead, expect FII's short to cover up. It should be the short covering that would save the market now.

ubs selling big time in mkts...

before fed meet For the first time in almost 18 months, IMM currency speculators are placing their bets on a U.S. dollar rally

Pyramid Saimira

Pyramid Saimira plans to raise $75 mn for expansion * Orchid Chemicals gets Canadian nod for combo injection

Higher advance tax payment powers Bhel
Bharat Heavy Electricals rose 2.02% to Rs 1,389.10 at 11:11 IST on BSE on reports it paid 42.8% higher advance tax at Rs 300 crore in the first installment of this financial year over the corresponding period in the previous year.

1-Jul-08 Mkt Close

Please note that July 01, 2008 will be a holiday for the exchange Clearing houses due to RBI Annual closing. The pay-in & pay-out of settlements NSE 2008123 , BSE 0809063 Dated 30-JUN-08 & NSE 2008124 , BSE 0809064 Dated 01-JUL-08 will be settled & held on 03-JUL-08.

So Please Don’t sell any shares which are bought in settlement No, 2008123 / 0809063 ( ie. 30-JUN-08) to 2008124 / 0809064 (i.e. 01-JUL-08). If any delay / technical problem come in the said pay-out from the exchanges, the sold settlements pay-in shares may be auctioned.


Sett No. Trade date Payin / out period
NSE NORMAL - 2008123 30-Jun-08 03-Jul-08
NSE NORMAL - 2008124 01-Jul-08 03-Jul-08
BSE ROLLING MKT- 0809063 30-Jun-08 03-Jul-08
BSE ROLLING MKT- 0809064 01-Jul-08 03-Jul-08

Gail Bonus

1:2 bonus issue fuels GAIL India
GAIL India rose 1.48% to Rs 384 at 10:31 IST on BSE after its board recommended issue of bonus shares in the ratio of one equity share for every two shares held