07 Mar 2008 : Indian Stock Market News Round up

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RBI: Budget in line with growth, price goals
Central bank sees the government's 2008/09 budget as being in line with growth and price stability objectives, it said on Thursday, adding it will help to implement a farm debt relief scheme.

Government may ease foreign debt rule in future
India will ease restrictions on overseas borrowing by companies, introduced last year to slow capital inflows, as soon as local and global conditions allow, a senior finance ministry official said on Thursday

Investors must be encouraged to stay for longer term: FM
Defending his budget proposal to increase short term capital gains tax rate, Finance Minister P Chidambaram today said it would encourage the investors to hold on to their investments for a longer period in the markets, which are currently volatile.

Chidambaram asks brokerages to embrace corporate culture
Finance Minister P. Chidambaram has asked stock brokerages to introduce corporate culture in their working and suggested creating a separate exchange to list small and medium enterprises.

Chidambaram bats for cheaper housing loans
Finance Minister P. Chidambaram Thursday made another pitch for commercial banks to cut interest rates for their consumers, especially on housing loans up to Rs 0.2 crore that accounted for 80 per cent of exposures

The Economic Times
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India Inc on debt row, credit rating takes a hit
With Indian cos borrowing heavily to acquire businesses several times their own size, corporate India has seen a fall in its credit worthiness.

Volatile mkt: Now, brokers bat for commodity futures
Brokers feel that commodity futures may be a safer bet than the equity F&Os at this moment, even as experts have their reservations

International News
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Heavy losses on Wall Street on credit jitters
NEW YORK - Wall Street stocks wallowed in losses Thursday as growing worries about the financial and housing sectors kept traders in a grim mood.

US home foreclosures at new high
WASHINGTON : US home foreclosures rose to new highs in the fourth quarter of 2007 as loan delinquencies jumped to a 22-year high, the Mortgage Bankers Association reported Thursday

Gold price strikes record high near 1,000 dollars
LONDON : The price of gold hit a new record on Thursday close to the symbolic 1,000 dollars per ounce level as the precious metal was boosted again by the weak dollar, traders said

Oil price hit record high near US$106 amid New York explosion
LONDON : Oil prices soared to a record high close to US$106 a barrel on Thursday as traders were spooked by a small explosion in New York, a surprise fall in US crude stockpiles and the weak US currency.

U.S. department stores report weaker February sales
ATLANTA (Reuters) - Major department store chains reported lower February same-store sales on Thursday as consumers spent less on home goods and women's apparel in the weaker U.S. economy.

Household wealth dips for first time since 2002
WASHINGTON (Reuters) - The net wealth of U.S. households fell for the first time in five years during the fourth quarter last year as the value of real estate holdings and stocks weakened, the Federal Reserve said on Thursday

U.S. jobless claims tumble 24,000 last week
WASHINGTON (Reuters) - New applications for U.S. jobless benefits tumbled by 24,000 last week to a much lower-than-expected 351,000, but the number remaining on jobless aid stood at the highest level in nearly two and a half years, a Labor Department report on Thursday showed.

RK
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