Asian stock markets witnessed a pullback after losing over 1% yesterday owing to weaker than expected Chinese economic numbers. European markets finished yesterday's trading day with marginal gains, however, the US markets closed with impressive gains. Apart from the Japanese markets, which are trading down by 0.5%; Chinese, Hong Kong, Taiwan and Korean markets are trading firm, up by 1.3%, 0.4%, 1% and 0.6%, respectively.
Commodities saw a strong pull back in terms of gains as gold prices, per 10 grams, gained 0.73% or Rs 193 while silver prices, per kilogram, gained 0.70% or Rs 256. Gold prices are currently available at Rs 26,730 levels while silver prices are currently available at Rs 36,580 levels. Crude oil prices spiked 4.6% or Rs 156. Per barrel, crude oil prices are available at Rs 3,500 levels. The value of Indian Rupee against the US Dollar opened flat at Rs 62.36.
As per the financial daily, the Government of India decided to slash the petrol and diesel prices with effect from Wednesday midnight. The petrol prices will be slashed by Rs 0.80p per litre while diesel prices will be reduced by Rs 1.30p. Post these deductions, the cost of petrol will come down to Rs 59.20 while diesel prices will be available at Rs 47.20 per litre. These deductions come for the second time since April 2, when the petrol prices were slashed by Rs 0.49 per litre while diesel prices were slashed by Rs 1.21 per litre.
TV18 Broadcast Ltd showed the aggregate net profit of Rs 0.95 bn for the fourth quarter end March 31, 2015 compared to the net profit of Rs 0.35 bn last year. Income of operations came in at Rs 6.29 bn compared to the year-ago period of Rs 5.63 bn. The company, however, provided clarity on the fact that these results cannot be compared with the last fiscal as Equator Trading Enterprises was a wholly owned subsidiary then. For the fiscal year; income from operations came in at Rs 23.18 bn compared to previous fiscal of Rs 19.68 bn. Shares of company gained over 2% after such developments.