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ADANI POWER

Markets at a glance
The markets staged a recovery after a steep correction during the first half of last week. The trading was characterised by bouts of sharp intra-day volatility, especially in the last three trading sessions. The BSE Sensex managed to cross the 16,000 level during the last sessions of the week. During the week, the Sensex rose 262 points or 1.65 per cent to 16,158, while Nifty rose 84 points or 1.79 per cent to 4,796. However, mid-caps outperformed the broader indices during the week, whereas small-caps underperformed. FIIs were net sellers initially, but started buying during the second half of the week.

News of the day

Dus kahaniyan, Polish style
Director Vishal Bharadwaj’s repeated references to it have spawned a new interest in Dekalog.
Online Business

ICICI Bank says no material exposure to Dubai

Amid fears of a debt crisis in Dubai, ICICI Bank today said it does not have any significant exposure to Dubai corporates. - F&O Outlook: Nifty may test new high before expiry - Nifty may test new high before expiry - ICICI Home Finance NPAs rise 3.5 times - ICICI, Infy among best firms for nurturing talent - ICICI raises $750 mn in overseas bonds - ICICI Bank raises $750 m from 5-yr bonds">ICICI Bank raises $750 m from 5-yr bonds "ICICI Bank has no material, non-India linked exposure to Dubai corporates," an ICICI Bank spokesperson told PTI. As such, the questions pertaining to any losses to the bank due to the imminent crisis in Dubai does not arise. Delhi-based Oriental Bank of Commerce also said the bank does not have any exposure in Dubai. "We have no exposure there," OBC Executive Director S C Sinha said. After realty crash, Dubai is now facing debt crisis. There are fears that Dubai"s conglomerate and the Middle East"s largest realty firm Dubai World may default on its around 59 billion dollar debt and is seeking postponing of the debt until at least May. Dubai, which borrowed hugely during the real estate boom, has incurred large losses due to real estate slump during the global recession.


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