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Market Update : 
Sensex Falls Ahead of Inflation, PPI Data
Author: 123jump.com Staff
123jump.com
Last Update: 5:02 PM EDT April 10 2008

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Stock markets in India lost the ground ahead of the release of key economic data on Friday. Industrial production is expected to rise and inflation is expected to be at elevated level. The key index, Sensex lost 0.6% and in the broader markets, Nifty fell 0.3%. Oil and gas stocks gained but software exporters declined on the worries related to the U.S. economic health. Reliance industries authorized 800 crore rupees stock buyback. Crude oil jumped to record $112 a barrel.

 
Reliance Energy increased 6.5% at 1253.35 rupees on news reports that the company bought-back 176,871 equity shares of the company. Since the commencement of the buy-back on 25 March 2008, the company has so far bought back 20,38,551 equity shares aggregating 250.75 crore rupees.
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