Economic Slowdown

US stocks fell on Thursday following a rise in weekly jobless claims that added to concerns about an impending economic slowdown, while Goldman Sachs lowered its forecast for the S&P 500 index.

Initial jobless claims unexpectedly rose in the latest week and remained at elevated levels. Gross domestic product rose at an annual rate of 1.8% in the first quarter, unchanged from the previous estimate and down from analysts' expectations for more robust growth.

New Expiry series kicked off

The new expiry series kicked off on a positive note in the opening bell. Asian markets were trading firm.

At 09.18, the Sensex was up 59.60 points at 18104.24, and the Nifty was up 25.65 points at 5438.

Top gainers on the Sensex were ICICI Bank at Rs 1,046 up 1.98%, HDFC at Rs 652.75 up 1.53%, Bharti Airtel at Rs 372.90 up 1.30%, DLF at Rs 219 up 1.25% and TCS at Rs 1,145.75 up 1.17%.

Top losers on the Sensex were Tata Motors at Rs 1,131.95 down 2.52%, Hero Honda at Rs 1,860.00 down 0.69%, Tata Power at Rs 1,198.20 down 0.14%, HUL at Rs 306.30 down 0.02%.

FY11 results has announced HPCL

Hindustan Petroleum Corporation, HPCL has announced its FY11 results. The company's FY11 consolidated net sales were up at Rs 1.38 lakh crore versus Rs 1.11 Lakh crore.
Its consolidated net profit was up 15% at Rs 1,703.6 crore versus Rs 1,475.3 crore.

Google, Facebook warn on Internet rules

Google Inc Chairman Eric Schmidt and Facebook founder Mark Zuckerberg warned governments to tread lightly on Internet regulation because moves to tame its rough edges risked hurting its virtues.

At the conclusion of a two-day forum in Paris, their comments exposed deep rifts between tech titans, academics and policy makers even as they tried to agree on a message to take to world leaders at the Group of Eight industrialized nations meeting on Thursday in Deauville, France.

What is the G8 and what does it do?

Diesel and LPG likely to be hiked next month

After petrol, price of diesel, LPG and kerosene are likely to be hiked next month when a ministerial panel headed by Finance Minister Pranab Mukherjee meets to decide on passing rise in crude rates to consumers.
"The Empowered Group of Ministers (EGoM) has been scheduled to meet on June 9," a top oil ministry official said. "Price of diesel, LPG and kerosene will have to go up.

Rs 4 per litre increase in diesel and at least Rs 20-25 per 14.2-kg cylinder