Oil sinks on stronger dollar, slips below $116
Oil prices resumed their descent Friday, dropping briefly below $116 a barrel as a huge jump in the U.S. dollar and expectations of slowing global demand offset supply concerns over a sabotaged pipeline in
Market this week
It was a good week for the market. Despite weak global cues the Indian market posted gains. The market was easily able to digest the higher inflation number. Experts feel the market is taking a breather after a fast run up and may witness some choppiness going ahead. The figures this week look good. Sensex gained 3.3%, Nifty 2.5%. BSE Midcap index was up 4.5% and BSE Smallcap index added 2.8% over the week. BSE Bankex index was up 9.5%, BSE Auto index up 8.5% and BSE Realty index was up 5.8%.
Gold falls to six-month low at Rs 12,000
Gold lost some of its shine as an attractive investment option in the bullion market on Friday with prices falling by a sharp Rs 250 to Rs 12,000 per 10 gram as the metal melted in the global markets on speculation that dollar gains might spur sales.
With Friday's fall gold in tune with the weak global trends has taken a hit of Rs 750 in last four trading sessions.
Mobile telephony has grown rapidly in