Sunday, December 13, 1998
Money supply growth rises to 19.5%
The year-on-year expansion of money supply (M3) went up by 1.1% to 19.5 per cent on November 27 from 18.4% on November 6. Excluding the proceeds of the Resurgent India Bonds (Rs 17,945 crore), the year-on-year M3 growth was pegged at 17.2%.
Skindia index spurts 7% on insurance assurance
Market seems to have sensed the government's firm stand on pushing ahead with the reforms process. On expectations of the clearance of the IRA and the patents bill at the winter session of the parliament, the Skindia GDR Index rose 6.53% to close at 569.86 points on December 10.
Gold declines on selling pressure; castor oil spurts
Both the precious metals suffered major losses on the bullion market here today. Standard gold finished Rs 25 lower at Rs 4,300 per 10 gm. Gold .22 carat was down by Rs 20 at Rs 3,980 per 10 gm. Prices of gold biscuit (116.50 gm.) dropped by Rs 350 to Rs 50,400 per piece.
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