Small Business

US markets end firm

The US markets ended in the green. The Dow added 115 points to 10,725 and the Nasdaq gained 32 points at 2,320. The S&P 500 was up 14 points at 1,150. - US markets end negative; Sterlite ADR slips 3% - Practical, but limited - V V: Slavoj Zizek - In Defence of Communism">V V: Slavoj Zizek - In Defence of Communism - US Markets end up; Wipro slumps 7% - Sunita Narain: Choose your future today">Sunita Narain: Choose your future today - US markets end in green The Indian ADRs were largely positive. ICICI Bank closed at $38.14, stronger by $1.9 or 5.3%, HDFC Bank shut at $138.6, higher by $9.9 or 7.7% and Wipro ended at $23.2, up $1 or 4.6%. MTNL closed at $3.8, firmer by $0.1 or 3.2% and Sterlite closed at $19.1, up $0.3 or 1.8%. On the other hand, Dr Reddy"s ended lower by 3% at $26.1 and Satyam shed 2.7% at $5.7.


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Web Exclusive: Yields in bond market expected to remain at current levels
Despite reasonably comfortable liquidity conditions, the long term bond yields have inched up significantly during the last few months. The yield on the benchmark 10-year bond surged by almost 100 basis points between April 17, 2009 and and September 10, 2009. The huge Government borrowing programme for the current fiscal to fund the mounting fiscal deficit has largely been responsible for the spike in the G-sec yields. The net market borrowing of the Central Government through issue of dated securities in FY10 is estimated to be Rs 3,97,957 crore, of which the Government has raised Rs 2,43,911 crore so far (up to September 4, 2009; including Rs 28,000 crore of MSS de-sequestering).
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