The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
The unprecedented downgrade of the US' creditworthiness by ratings agency Standard and Poor's may face a probe by a Senate committee, reports have said.
Suresh Kumar's nomination by United States President Barack Obama, to be assistant secretary of commerce and director general of the United States and Foreign Commerce Service, sailed through two key US Senate Committees last week.Now the full Senate has to vote on his nomination, and sources said he could be in place in his job at Commerce by late February or early March.
The senate banking committee and commerce committee approved Kumar's nomination, which was buoyed by a rousing introduction of Kumar by Senator Robert Menendez of New Jersey, where Kumar has resided since 1993, and it's now the full senate that has got to vote on his nomination, and sources said he could be in place in his job at commerce by late this month or early March.
The White House has said that it has put all options on table to tackle the threat posed by nuclear-armed North Korea.
The White House has warned lawmakers that tightening sanctions on Iran could push the US on a "march to war" and derail a diplomatic push to limit Tehran's nuclear programme.
Summers dogged by controversies over past views
The nomination would put Yellen on course to be the first woman to lead the institution.
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