Indian Market Roundup on May 17, 2011

SBI hq in Mumbai                                                  
  1. Asian markets slump in trades Sensex down by 208 points and Nifty down by 60 points
  2.  India’s largest bank SBI’s profit reduced by Rs. 210 million in FY10Q4.
  3. SAIL down by 3% (almost two year low)
  4. Coal India has replaced ONGC to become most valued PSU with market capitalization (m-cap)of Rs. 2488.33 billion. However, private sector company, Reliance Industry is still number in term of m-cap in India with total m-cap of Rs. 3084.86 billion
  5. Gold rises to Rs 22,270 on global cues, silver remains weak