India's annual food inflation rose further to 15.46% for the week ended September 11

India's annual food inflation rose further to 15.46% for the week ended September 11, after rising dramatically by almost four percentage points to 15.1% during the previous week, official data released Thursday showed.

The index has dramatically risen by over five percentage points in less than a month, from 10.05% for the week ended Aug 14, as per data available with the commerce and industry ministry. http://sify.com/finance/india-s-annual-food-inflation-creeps-up-to-15-46-news-economy-kjxnacdchad.html


Falling for the second day in a row the Bombay Stock Exchange benchmark Sensex closed down by 81 points as investors continued to book profits. The Sensex, which had lost 60 points in the previous session, fell further by 80.71 points to 19,861.01. The benchmark had climbed to a 32-month high of 20,000 points level on Tuesday. The broad-based National Stock Exchange index Nifty also fell by 31.45 points to 5,959.55. Food inflation accelerating also weighed on sentiment on fears that it might put more pressure on the banks to raise interest rates. The banking and interest-related counters such as realty were major sufferers as investors withdrew their funds to park their funds in primary market which is flooded with new public offerings. The banking sector index dropped
The banking sector index dropped by 1.43 per cent to 13,746.63 as HDFC Ltd., the biggest mortgage lender, dropped for the first day in four, by losing Rs 4.30 to Rs 727.30 and State-run State Bank of India lost Rs 7.20 to Rs 3,140.55. The realty sector suffered the most by losing 2.07 per cent to 3,592.40 after DLF Ltd., the largest developer fell for the third straight day by Rs 4.95 to Rs 347.65. An upsurge in stocks of FMCG, Information Technologies, Auto and healthcare sectors saved the market from any major fall. Investors were directionless as as Stock makets in Japan, China, Hong Kong and South Korea were closed today for a holiday, marketmen said. European bourses were also weak amid lower closing in the US last night.
http://timesofindia.indiatimes.com/business/india-business/Sensex-down-for-second-day-closes-81pts-lower/articleshow/6613540.cms
Wall Street was set for a sharply lower open on Thursday after weekly claims for jobless benefits jumped unexpectedly, highlighting continued weakness in the labor market and rattling investors.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 465,000, the Labor Department said, breaking two straight weeks of declines. Analysts had expected the numbers to remain unchanged.

"They confirm there is not going to be an expansion in employment for the foreseeable future. We have an unemployment rate that is stubbornly high, that breaks with the tradition in terms of being any sort of sustainable growth," said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey.

"The Fed's outlook confirmed the prospect of a very anemic rebound and really, flagging production, flagging demand domestically," Kenny said. "These numbers really speak to that in a very clear way. They couldn't be more spot-on in terms of speaking to an economy that is just barely hanging on to razor thin gains."

Investors were doubtful about the state of the economy in the euro zone after data showed the pace of growth in the region's services and manufacturing sectors slowed more than expected this month.

S&P 500 futures fell 11.1 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 84 points, and Nasdaq 100 futures dipped 13.50 points.

http://finance.yahoo.com/news/Stocks-fall-on-jobless-claims-rb-1312350461.html?x=0&.v=7

Expects a session of profit booking soon: Javelin Wealth
http://economictimes.indiatimes.com/tv/expert-views/Expects-a-session-of-profit-booking-soon-Javelin-Wealth/videoshow/6590071.cms

Gold and silver prices soared to create a new record high at the bullion market here today, on heavy stockists and speculative driven buying supported by surging international markets.

"The sudden revival seems to be cited as investors and traders shifting funds from beleaguered equity markets to precious metals as a better avenue," traders said.

"Though gold was creating fresh new highs in overseas markets everyday, the local investors were chasing equities and ignoring the yellow metal. 

Read more: Gold, silver soar to new record high on global surge - The Times of India http://timesofindia.indiatimes.com/business/india-business/Gold-silver-soar-to-new-record-high-on-global-surge/articleshow/6614413.cms#ixzz10MrXzqfd