UTI Millennium scheme shelved
The Union finance ministry has shelved the Millennium scheme proposed by the Unit Trust of India (UTI) to garner funds from non-resident Indians for investment in the stock markets and high-quality debt instruments.

Dollar higher against yen but making slow progress
The dollar rose against the yen on strong mark/yen buying in Tuesday morning Asian trade, with volumes severely thinned by a Japanese holiday.

Icra downgrades SAIL debt programmes' ratings
ICRA has downgraded the rating assigned to the long-term debt programmes of Steel Authority of India Ltd (SAIL) to LA from LAA-. The company's fixed deposit (FD) programme has also been downgraded to MA+ from MAA. The revised ratings indicate adequate safety. Icra has also downgraded SAIL's short-term debt programme to A1 from A1+.

  Castor oil drifts lower on sluggish export demand
  Kitply Industries takes a knock
  Centre plans twin routes to divestment
  Market Round-Up
  "Indian paper spreads in Yankee market up"
  Punters smell open offer in Bank of Rajasthan
  Sensex dips to 3,162 points in lacklustre trade
  Market Briefing
  NSE Forecast
  DPs urged to cut charges
  DSE modifies specified list
  India to outperform other Asian markets, says HSBC
  Global market euphoria fails to excite Asia
  Software stocks may prove to be rewarding at current levels
  Liffe coffee may resume the uptrend