Business

US President Barack Obama had earlier said that the companies which provide jobs at home would get bigger tax breaks than those outsourcing work.

It was a bad start to the week on Monday with Sensex falling nearly 400 points to close way below 17000 mark.

PwC India Chairman Deepak Kapoor said the slowdown in Western economies should not be seen as a concern for India.

Shares of Tata Motors and Coal India topped the buying list in Wednesday's trade, rising nearly 4 per cent.

The job losses are part of the group's announcement last month to axe 4,500 jobs globally.

The RBI said that GDP growth during the current fiscal is likely to fall below its earlier projection of 7.6 per cent.

The Sensex rose 34.74 points, to close at 16,189.36 and the Nifty went up 7.9 points to 4,873.90 after hitting an intra-day high of 4,880.80 and low of 4,827.05.

Overall, vegetables became 49.03 pc cheaper during the week ended Dec 31 pushing the inflation down to -2.9 pc.

The RBI said it will keeps right to decided on the quantum of purchase of individual securities.

Ratan Tata said that the political conflicts and policy uncertainties have hit investments in the country.

Blue-chips that saw dip in their market value include Infosys, NTPC, Bharti Airtel, SBI and HDFC Bank.

The Sensex gained 128.15 points, to close at 15,813.36. The Nifty was up 40.70 points, to end at 4,733.85.

Global agency Moody's has also upgraded the long-term country ceiling on the foreign currency bank deposits.

The Nifty touched an intra-day low of 4,531.15, before ending down 68.90 points at 4,544.20.

The rupee was at an all-time low for the third day, taking losses to 18.4 per cent from its year-high in July.

The Rupee was at 53.2800/2850 per dollar after touching an all time low of 53.52 earlier in the day.