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December 2014

Nifty rises, posts best yearly gain in five

December 31, 2014 by sknlakshmi

The BSE Sensex and Nifty rose on Wednesday, ending a record-setting year with hopes that the momentum would sustain in 2015 should the government announce additional economic reforms and the central bank start cutting interest rates.

The broader Nifty .NSEI gained 31.4 percent in 2014, posting its best gain since 2009 in a year marked by a series of record highs. In dollar terms, the index was the second best performer in Asia after Shanghai .SSEC, according to Thomson Reuters data.

Fiscal deficit hits 99 pct of full-year target in November

December 31, 2014 by sknlakshmi

India's fiscal deficit was 5.25 trillion rupees ($83.08 billion) during April-November, or 98.9 percent of the full-year target, government data showed on Wednesday.

The deficit was 93.9 percent during the same period a year ago.

Net tax receipts were at 4.13 trillion rupees ($65.35 billion) in the first eight months of the current fiscal year that ends in March 2015.

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Oil falls towards $56, heads for biggest annual drop since 2008

December 31, 2014 by sknlakshmi

Oil dropped towards $56 a barrel on Wednesday and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC's refusal to cut output.

Global benchmark Brent crude has fallen 49 percent in 2014 as demand growth slowed, the United States expanded output and OPEC, dropping its strategy of trimming supply to keep oil around $100 a barrel, chose instead to defend market share.

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