Banking Sector

HUL, HDFC Bank, TCS, Infosys and Kotak Mahindra Bank shine during the week

HUL, HDFC Bank, TCS, Infosys and Kotak Mahindra Bank shine during the week

Indian stock market witnessed rally for the last three trading sessions and investors felt relief as many stocks had declined significantly. Among the major gainers for the week were Tata Consultancy Services Ltd (TCS), HDFC Bank, HDFC, Infosys, Hindustan Unilever, Kotak Mahindra Bank and ICICI Bank.

Markets gained from lower levels and buying was witnessed on Wednesday. Investors turned bullish on Thursday and Friday ended with smart gains. Among top 10 Indian stocks, seven companies gained during the week. Small investors mainly invest in mid-cap and small-cap companies and the trend in both these segments is still not positive. Mid-cap stocks of many well performing companies are trading at a lower price.

Exposed Austrian bank sees profits drop by a quarter

Exposed Austrian bank sees profits drop by a quarterVienna - Austria-based Erste Group Bank saw its net profits drop 26.5 per cent in the first quarter of 2009, the bank said Thursday, reflecting its high exposure to loans to central and Eastern Europe.

The bank, one of Central and Eastern Europe's biggest lenders, made a net profit of 232.1 million euros (306.7 million dollars) in the first three months of the current year, down from 315.6 million euros in the same period of the previous year.

With the exception of the Ukraine, all of Erste's Central and Eastern European operations were profitable.

Media Type: Text Bank of Japan holds key interest rate unchanged at 0.1 per cent

Media Type: Text Bank of Japan holds key interest rate unchanged at 0.1 per cent

SBI slashes interest rates on education loans taken by new borrowers

SBI slashes interest rates on education loans taken by new borrowers

Brazil's central bank cuts interest rate

Sao Paulo - Brazil's central bank on Wednesday evening cut its Selic benchmark interest rate for a third time to 10.25 per cent from 11.25 per cent, in an attempt to boost growth.

New Zealand central bank cuts interest rate to 2.5 per cent

New Zealand central bank cuts interest rate to 2.5 per centWellington - New Zealand's central bank slashed its benchmark interest rate Thursday by half a per cent to 2.5 per cent, its seventh cut since July.

The so-called official cash rate (OCR) was already at its lowest mark since it was introduced in 1999 and Reserve Bank governor Alan Bollard signalled that he could keep it at or below the current level until late 2010.

"We consider it appropriate to provide further policy stimulus to the economy," he said. "The OCR could still move modestly lower over the coming quarters."

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