The Indian markets were slightly more stable yesterday even though it closed down, it's eighth consecutive fall, their longest losing streak in more than two years. The US markets closed down as commodities continued to pressurise global markets, while the Asian markets opened in the red. It looks like the Indian indices are headed for a day of flat trade given the complete lack of cues. Follow our live updates to catch all the business and market action real time.
8:15 am: India's fight against inflation could knock about half a percentage point off economic growth in Asia's third-largest economy this fiscal year, Finance Minister Pranab Mukherjee said on Wednesday, a day after the Reserve Bank of India (RBI) raised rates. "It may be around... 8.5 percent. So, it will be about half a percent," he told Reuters when asked about the impact of stubbornly high inflation on gross domestic product growth.
8:12 am: As many as 1,100 Air India flights have been canceled as nearly half of the national carrier's 1,600 pilots continued their strike for the eighth day Wednesday with losses touching Rs.85 crore, an official said.
8:10 am: Facebook and Google Inc are separately considering a tie-up with Skype after the web video conferencing service delayed its initial public offering, two sources with direct knowledge of the discussions told Reuters.
8:00 am: Silver prices fell 1 percent to a one-month low, after the CME Group hiked margin requirement on COMEX silver again, while gold held steady. COMEX silver futures fell 1.2 percent to a one-month low of $38.91. Spot silver fell by 1 percent to $38.92.
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