Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
In New York market, the dollar continued to weaken against its rivals yesterday on a day devoid of major data releases out of Europe and the US.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
De-allocation could raise import bill by $3 billion, add to coal shortage.
The bank says valuations are still high, foreign mutual funds are still 'very overweight' on Indian shares.
The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.
The Bombay Stock Exchange has resumed trading after three hours on Thursday.
n New York market, the dollar posted second-quarter losses against nearly all major rivals yesterday, with the exception of the euro.
These sectors have underperformed the wider market over the past year and are seen having far more upside potential if the economy picks up thanks to Modi's reformist agenda.
The drive against insider trading comes after SEBI last year received enhanced investigation powers from parliament, including the ability to monitor call records.
The investment bank also says no ministries were merged even as some ministers were given more than one portfolio.
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The benchmark has gained 2 per cent this week on continued hopes the incoming Narendra Modi government would unveil substantial economic reforms.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
Tata Motors is trading at 8.32 times 12-month forward PE, just marginally away from 8.31 times for Sesa Sterlite, currently the cheapest in the 30-member Sensex.
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
India's consumer inflation should ease in the next two months, and will fall to 8 per cent by the end of the year, says RBI Governor Raghuram Rajan.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
Data earlier on Thursday showed the annual consumer price inflation rose to a higher-than-expected 11.24 per cent in November from 10.17 per cent in October.
With the economy growing at its slowest rate in a decade, India's banking system is facing rising levels of stressed loans, with $100 billion, or about 10 percent of the total, categorised as bad or restructured.
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UBS added that its strategists are positively surprised by the scope and tone of the Plenum document.
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