Stock market & Finance

Yesterday, We recieved an email from India infoline Stock Brokerage firm in which they have mentioned that the Exchange has decided to change the market timings For both Cash and Derivatives Markets during the Sun Outage Period  from September 24, 2006 to October 08,2008 . So, the new timing during Sun Outage Period would be :-

Market Open	09.55 a.m.
Market will remain close	11.25 a.m. to 12.05 p.m.
Market re-open	12.05 p.m.
Market Close	04.15 p.m.
Market Post Close	04.35 p.m. to 04.45 p.m.

If you want to know more about this then you can check  National Stock Exchange or Bombay Stock Exchange  main websites for more information regarding this change.

Today Finance minister Mr P. Chidambaram inaugurated currency futures trading in National Stock Exchange of India (NSE) . Now National Stock Exchange has received first mover advantage for mandatory approval from the Securities and Exchange Board of India .

As we know that currency trading market has much more potential comparing to stock markets . A platform of currency trading futures globally is much bigger than stock market and now currency traders from india commodity market have also get chance to enter in trading currencies .Here are some brief points given by utvi.com to know better about today's announcements on currency future trading :-

* Currency futures launched on the National Stock Exchange of India.
* 300 members will be eligible to participate in currency futures trading
* Contract in quoted and settled in INR
* Maturity of contract not to exceed 12 months
* Futures date and price is fixed on purchase date
* Allows an investor to hedge against forex risks
* Every trading member participating in currency derivatives during the above period shall be required to make a lump-sum contribution of Rs 500 towards an Investor Protection Fund.
* Only US dollar-Indian rupee contracts would be allowed. The contract size will be of 1,000 US dollars and the tick size (minimum price fluctuation) will be 0.25 paise.
* The prices in currency derivatives segment shall be displayed, traded and reported up to the fourth decimal place instead of up to two.

I was just watching utvi channel to track my stocks and saw this news and thopught i should this with you . If I will get more info about it than i will update you by latest posts again .

Today One of the best Cabinet decision is out and they have given approval to Sixth Pay Commission and the income(Pay) Panel may take effect from January 1, 2006 . Arrears to be paid in two installments -- 40 per cent this fiscal and 60 per cent in the next financial year, said Information and Broadcasting Minister P R Dasmunsi .

Income level is also raised Rs 6,660 per month to Rs 7,000 .From now every year pay will raise 3% evey year instead of 2.5% . For ladies they will also try to create flexible job timings and descriptions , so they can improve job conditions .The decision was taken after the Cabinet meet chaired by Prime Minister Manmohan Singh and attended by External Affairs Minister Pranab Mukherjee, Defence Minister A K Antony and Finance Minister P Chidambaram unanimously passed the much awaited new pay commission report. You can download Sixth Pay Commission report file from this link or for more info go here Sixth Pay Commission got approval .