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August 5: Blood bath for markets

  • August 5: Blood bath for markets

    August 5: Blood bath for markets

  • <p>A broker looks at his terminal at a stock brokerage firm in Mumbai</p><p><b>India&#39;s volatility index, a measure of near-term volatility, on Friday saw its sharpest rise in two years spiking over 30% after stock markets sank as fresh worries on the health of the global economy prompted investors to cut positions in risky assets.</b></p><p>Indian shares touched their lowest level since June 2010 on Friday, joining a slide in Asian stocks, as fresh worries that the global economy is slipping back towards recession prompted investors to cut positions in risky assets.</p>

    A broker looks at his terminal at a stock brokerage firm in Mumbai

    India's volatility index, a measure of near-term volatility, on Friday saw its sharpest rise in two years spiking over 30% after stock markets sank as fresh worries on the health of the global economy prompted investors to cut positions in risky assets.

    Indian shares touched their lowest level since June 2010 on Friday, joining a slide in Asian stocks, as fresh worries that the global economy is slipping back towards recession prompted investors to cut positions in risky assets.

  • <p>A woman holds gold bangles at a jewellery shop in Kolkata</p><p><B>India gold futures extended gains for a fourth session on Friday to hit a new peak following a rally in overseas markets and a weaker rupee, which traded at its lowest level in five weeks, pushing physical traders to the sidelines ahead of a slew of festivals starting later next week</B></p><p>* The most-active gold for October delivery on the Multi Commodity Exchange (MCX) struck a record of Rs 24,300 per 10 grams, before trading 0.75% higher at Rs 24,247.</p><p>* Overseas gold edged up more than half a% as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe&#39;s debt crisis is spreading to some of its largest economies.</p>

    A woman holds gold bangles at a jewellery shop in Kolkata

    India gold futures extended gains for a fourth session on Friday to hit a new peak following a rally in overseas markets and a weaker rupee, which traded at its lowest level in five weeks, pushing physical traders to the sidelines ahead of a slew of festivals starting later next week

    * The most-active gold for October delivery on the Multi Commodity Exchange (MCX) struck a record of Rs 24,300 per 10 grams, before trading 0.75% higher at Rs 24,247.

    * Overseas gold edged up more than half a% as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe's debt crisis is spreading to some of its largest economies.

  • <p>A technician displays anti-anthrax Cipro tablets at their facility in Paonta Sahib in Himachal Pradesh</p><p><b>Ranbaxy Laboratories, India&#39;s top drugmaker by sales, on Friday posted a 25% drop in quarterly profit, hurt by slowing overseas sales and rising costs, sending its shares down as much as 4%.</p><p></b>The company&#39;s profit fall in its fiscal second quarter was, however, less than estimated as it posted a 17% growth in sales within India.</p>

    A technician displays anti-anthrax Cipro tablets at their facility in Paonta Sahib in Himachal Pradesh

    Ranbaxy Laboratories, India's top drugmaker by sales, on Friday posted a 25% drop in quarterly profit, hurt by slowing overseas sales and rising costs, sending its shares down as much as 4%.

    The company's profit fall in its fiscal second quarter was, however, less than estimated as it posted a 17% growth in sales within India.

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