MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
In an offshore entity run by Essar promoters, the US fund will have a quasi-equity exposure. This vehicle will invest the money in Essar Steel's equity. The newspaper reports that this investment will be against shares pledged by Essar Group founders Shashhi and Ravi Ruia, who will be returning the fund its money once the Rosneft-Essar Oil deal is over.
In an offshore entity run by Essar promoters, the US fund will have a quasi-equity exposure. This vehicle will invest the money in Essar Steel's equity. The newspaper reports that this investment will be against shares pledged by Essar Group founders Shashhi and Ravi Ruia, who will be returning the fund its money once the Rosneft-Essar Oil deal is over.
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