Yesterday was not promising for the stock market after it showed signs of resilience last week. The BSE sensex shed 700 plus points and fell below 16k again. The large caps took the knock. Global cues were negative and inflationary concerns are impacting the market sentiments. India is likely to steel itself against inflation by asking domestic iron ore producers to lower prices as part of a range of emergency measures aimed at stemming an alarming jump in inflation.
The government is reducing import duties and scrapping some export incentives for steel producers in response to rising inflation, which hit a 13-month high of 6.68 per cent in the week ending March 15.
News is just in that Ketan Parekh has been sentenced to 1 year jail for the 1992 stocks scam.
Also, the Bombay Stock Exchange could list on its own market this year either through an initial public offering or a direct listing, Rajnikant Patel, the group's chief executive, said.
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