Sensex declines 33 points in early trade
stock average touch a 8-1/2-month high on expectations of much better export earnings.
FACTORS TO WATCH
Raghuram Rajan, chief economic adviser at India's ministry of finance, to address conference on the economy of South Indian state of Tamil Nadu.
INDIAN STOCKS TO WATCH
TOP NEWS
India will speed up the sale of stakes in state companies to revive the stock market and will push ahead with reforms aimed at spurring an investment recovery in the flagging economy, Prime Minister Manmohan Singh said on Saturday.
ENERGY/COMMODITIES
The oil ministry may raise prices of diesel by 1 rupee a litre or that of cooking gas by 100 rupees to neutralise the impact of its plan to increase the supply of subsidised cylinders to households, said government officials who requested anonymity.
Oil companies have been told by the finance ministry to coordinate with the Reserve Bank of India before stepping out to buy dollars, according to a person who attended the meetings.
A government-appointed panel has recommended the end of the controversial system in which oil firms recover their costs from sale of oil and gas in all future contracts and suggested a transparent structure for sharing the output between the government and the contractor.
Reliance Industries and its partner BP have shut a seventh well in the D6 block off the country's east coast due to sand and water ingress, bringing down the number of producing wells to 11, a source with direct knowledge of the matter said.
Coal India's output dipped about
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