The market opened on a confident note Friday. The Sensex
is up 218.34 points or 0.9 percent at 24180.55 and the Nifty is up 78.90 points
or 1 percent at 7355.70. About 488 shares have advanced, 69 shares declined,
and 24 shares are unchanged.
The Indian rupee recovered in the early trade post
breaching 68 level in the yesterday's session.
Chinese shares tried to rally
on Friday as hopes for more policy stimulus in Europe and Japan offered a
much-needed but tenuous reprieve to oil and global equities.
India's federal drugs
controller issued an alert on Thursday, asking states to ensure Swiss drugmaker
Roche's cancer treatment Avastin was not administered to treat eyes, after its
usage hampered vision in 15 patients.
Asian stocks rose on Friday
after a hint of more monetary easing by the European Central Bank and a bounce
in crude oil from 12-year lows helped soothe skittish markets.
The government will pay banks
a 2.5 percent commission to unlock the country's massive stash of gold under a
new monetisation scheme, the RBI said, as the ambitious plan received a poor
response from banks and customers.
The fluctuations in the currency market are a result of
market forces, and the Chinese government has no intention and no policy to
devalue its currency," Li Yuanchao told Bloomberg in an interview on the
sidelines of the World Economic Forum's annual meeting in Davos,
Switzerland.
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