Skindia GDR Index gains 1.23% on back of buy-back news
The Skindia GDR Index gained by 1.23% to close at 638.28 during the week ended June 25, over its previous week's close of 630.51. The news of Moody's downgrade of India's sovereign rating from investment grade to speculative grade saw the two indices -- BSE Sensex and GDR -- spiralling down. Both the indices, however, gained during the end of the week with the government's announcement on buy-back of shares, employee share options and incentives to FIIs.

Ministry to meet textile traders
The finance ministry has called a meeting of the representatives of textile traders next week following a virtual halt of the textile trading and processing operations due to a bandh observed by traders. The traders were protesting against the raids conducted on them by the central excise department.

Groundnut oil scales new peak at Rs 490
Groundnut oil continued its upward trend as it scaled new peak on the oil,oilseeds market here today. Castorseed and its oil on the other hand ruled weak on news of rains in the producing centre. Groundnut oil up was by Rs 3 to Rs 490 per 10 kg amidst scattered arrivals coupled with shortage of ready stock.

  Carryforward rates stabilise at 12%