Reuters Market Eye - The BSE Sensex hit record highs for the third consecutive session on Wednesday on the back of gains in blue-chip stocks. The benchmark index gains 0.51 percent to hit a record high of 22,875.17. The broader Nifty rises 0.68 percent to hit a life high of 6,861.60.
SINGAPORE - China's stock markets fell again on Wednesday after a survey showed manufacturing activity in the world's second-biggest economy was still contracting in April, while the Australian dollar tumbled to a two-week low after data showed surprisingly low inflation.
Gold was steady but near its lowest in more than two months on Wednesday, with stronger equities denting the metal's safe-haven appeal and outflows from bullion funds showing weak investor appetite. The metal was also weighed down by U.S. data that showed home prices rose in February and existing home sales were a bit stronger than expected. Full Article
One of three Hollywood executives accused of sexually abusing a teenaged boy in the 1990s on Tuesday flatly denied the allegations, while an attorney for the second said they were "demonstrably untrue" and a representative for the third called them "without merit." Article
Nisha Pahuja‘s film “The World Before Her” juxtaposes two training camps - one for the Durga Vahini (army of Durga), the women’s unit of the right-wing Vishva Hindu Parishad (World Hindu Council), and the other for the Miss India beauty pageant. Pahuja wanted to make a film that would explore a common theme in two worlds that at first look like they are opposites. Full Article
When inflation picks up, so do bond yields, which drives prices of those bonds down. Before the 2008 crisis, consumer prices in Asia were rising at a faster-than-anticipated pace. Investors demanded more compensation for holding paper with fixed-rate returns, and policy-makers raised short-term rates, so yields on sovereign debt surged. Full Article
Expectation that the ongoing general election will throw up a stable government has spurred a return to risk in domestic equities. Assuming a strong government is indeed voted in, will it mean the IT and pharma sectors will become market pariahs? Unlikely, writes Mukesh Agarwal of CRISIL. Full Article
China Resources chairman Song Lin has been sacked for disciplinary violations, leaving an empire with $150 billion in assets leaderless. Though China’s state-company bosses will quake in their loafers, the damage to investors looks manageable. The real problem is a wider culture that treats outside shareholders as an afterthought. Full Article
Education in India
The Right to Education Act that makes education free and compulsory for all children is failing millions of low caste, tribal and Muslim children who are dropping out of school because of rampant discrimination, Human Rights Watch said. Full Article