Markets
"Sensex extends losses for the 2nd straight dn 205 pts"
Key indices posted modest losses tracking weakness in global stocks and after the federal reserve hiked the fed funds rate by a quater point to between 1 pct and 1.25 pct.
The S&P BSE sensex shades 205. 66 points or 0.66 pct to settle at 31, 056.40 the sensex has dropped by 216.89 or 0.69 % in two weeks .
The nifty 50 index dropped 80.20 points or 0.83 pct to settle at 9, 588.05.
There had been concerns that higher interest rates in the united states will boost return on US debt and bank deposits, drawing money back from riskier markets.
Trading for the week begans on a dull note as the key benchmark indices registered modest losses on monday.
"Sebi slaps Rs 2 crore fine on two individuals"
Markets regulator sebi has imposed a penalty of Rs 2.07 crore on two promoters of square four projects for repeated violations of take over norms including non disclosure of share purchases .
the Two promoters are:- "Ganesh singhania" and "Anita singhania"
The promoters of the firm have been ordered to pay the amount jointly and severally for violation during the period for july 2009 to february 2010. According to a sebi order lapses on the part of the promoters of square four projects (India) earlier known as Essen Supplements India also caused a loss of about Rs 65 lakh to the share holders.
