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Besides a dispute over $5 billion of unpaid bills crude oil supply to India from Iran is observed to rise by 14% during the month of June, where Iran's oil deliveries to the Asian nation rose to 400,000 barrels a day in June from 350,000 barrels a day in May, said the source. Prior to dispute Iran supplied about 400,000 barrels a day in 2009-2010.

On Tuesday morning, Chanidpur, Orissa, had witnessed the successful maiden flight test of a quick-reaction, short range tactical missile enabled with a range of 150 km. The missile scientists of the Defense Research and Development Organization (DRDO) conducted the test for ‘Prahaar’ at 8.15 a. m. from Launch Complex-III at ITR.

On Wednesday, the shares of Mumbai-based drug maker Lupin declined after the company revealed that billionaire Investor Rakesh Jhunjhunwala has sold his shares in the company worth more than Rs 300 crore in the first quarter.

The stock of lupin was traded at Rs 461.20 in the intra-day on the BSE, which was 3.7% less than its previous close.

According to a recent report by the global management consultancy, McKinsey & Company has revealed that net banking has increased 7% in India, which means more account holders in the country are using the Internet for banking transactions. The report has also unveiled that branch banking has fallen by 15% points since then.

McKinsey & Company’s India Partner and Head of its Retail Banking Services, Renny Thomas said that it was the first time when net banking service in the country has improved 7%.

It was expected that the Eurozone meeting that has been scheduled for later in the day, would present a solution for the region’s sovereign debt crisis and with this, on Thursday, the rupee also got a little changeover. But the traders were unconvinced by such euro’s gains.

According to traders, Choppy local shares also provided a little direction to them. But due to lacklustre trading, there would be a low volume in the dollar-rupee market.

With the booming of ITC Ltd., the Hero Honda Motors Ltd. have found to decline and this has made India’s benchmark stock index swung between advances and losses.

Hero Honda which is known as the India’s biggest motorcycle maker today has reported to slide for the sixth day and that too before its earnings.

At the same time, the Drug maker Biocon Ltd. (BIOS) and Exide Industries Ltd. (EXID), which is a battery maker, by missing their targeted earnings, also met a downfall.