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FinMin sets up body to review portfolio investment policies
To encourage foreign portfolio investment, the Finance Ministry has set up a working group for suggesting changes in the existing policy on foreign capital inflows by FIIs, NRIs and venture capital funds.

Use close to money spreads
An intermediate reversal could mean net losses over the next 4-6 weeks.

News of the day

Ness Tech to scale up India operations
With the key IT outsourcing markets showing positive signs in terms of demand, Ness Technologies which provides R&D services to its global clients from offshore locations, has announced to expand its Indian operations. The company which presently employs close to 3,000 people in India, has announced opening a new facility in SEZ in Bangalore with 300 seats at present to be scaled up to 600 by March 2010.
Business Opportunities

Lacklustre trade continues

The Sensex is trading at 17,398 - up 38 points. - Gammon India slumps on Kota mishap - Fortis gains on Rs 250cr investment plans - Sensex lacklustre; Sun Pharma down 2% - UTV, Sun shine on talks of new channel - Sensex flat in opening trades - Sensex opens up 40 pts Earlier in the day, the markets had touched its highest in more than a year after re-opening for trade after four days. The Sensex touched a high of 17,442. Reliance Infrastructure has surged 2.7% to Rs 1,130. Bharti Airtel has gained 2% at Rs 327. NTPC, HDFC and Hero Honda have added 1.5% each. ICICI Bank, Tata Steel, Reliance Communications and Tata Power are the other gainers in the market today. However, IT stocks are in the red. Wipro has dropped 1.7% to Rs 682. TCS has slipped 1% at Rs 741. Other losers in the index are ONGC, Sun Pharma and HDFC Bank. The market breadth is positive. out of 2,717 stocks traded 68% have advanced while 29% have declined.


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