PM rules out capital controls!

Key benchmark indices surged after the rupee recovered in choppy trade after Prime Minister Dr. Manmohan Singh said in parliament that the government isn’t looking at imposing restrictions on the movement of capital out of the country as he sought to allay investor concerns that have lately hurt financial markets, especially the rupee which has declined sharply against the dollar this month. Intraday volatility on the bourses was quite high as the Sensex alternately swung between positive and negative zone. The BSE Sensex closed 404.49 points up at 18619.72 & The CNX Nifty closed 62.75 points up at 5471.80.

BSE, Dalal Street

BSE, Dalal Street (Photo credit: zadeus)

Who Moved and Why

1) Colgate-Palmolive slides after a block deal
2) Financial Technologies tumbles to 52-week low
3) Info Edge (India) drops amid volatility after two block deals
4) Eros International Media firmly in the picture
5) Strides Arcolab drops on profit booking
6) Volumes jump at Hatsun Agro Product counter
7) JSPL tumbles as board approves buyback proposal
8) Cairn India drops along with crude oil price
9) Hatsun Agro turns volatile after multiple block deals

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