NEW DELHI: Petrol prices are poised to fall to a 16-month low before Diwali as state oil firms plan to cut rates by about Re 1 a litre because the global oil market is in a bear phase, with Brent crude dropping more than 20 per cent since its June peak, government and industry sources said. The government, which regulates retail prices of diesel, is also considering cutting diesel prices as retailers are getting over Rs 3 per litre more than the market rate, sources said. State-run Indian Oil Corporation BSE -0.82 % ( IOC BSE -0.82 %), BPCL BSE -1.32 % and HPCL BSE -0.44 % are expected to hold a meeting this week to slash petrol prices. But, the decision on diesel price cut would require a Cabinet approval, which is expected after assembly elections, sources said.

BSE is in talks with asset managers to launch an exchange-traded fund (ETF), based on its climate change index in the next couple of years, chief executive Ashishkumar Chauhan said on Monday.

BSE launched the S&P Carbonex index in 2012, centred on its popular BSE 100 index, giving increased weighting to companies depending on carbon footprint scores.

The Securities and Exchange Board of India (Sebi) wants other financial sector regulators to emulate its investor awareness and education initiatives. At a recent meeting of the Financial Stability and Development Council, apex body for financial sector development and regulation, it expressed concern over the lack of initiatives from its counterparts in investor education, said sources.

Sebi is said to have told the others it had spent about Rs 40 crore on investor awareness programmes last year. And, that other regulatory bodies should begin spending more on this cause.

Infosys is trading higher by nearly 2% at Rs 3,952, extending its Friday’s nearly 7% rally, after the company reported a better-than-expected consolidated net profit at Rs 3,096 crore for the second quarter ended September 30, 2014 (Q2) besides declaring 1:1 bonus.

The stock opened at Rs 3,898 and hit new high of Rs 3,959 on National Stock Exchange (NSE). A combined 1.92 million shares changed hands on the counter so far on NSE and BSE.

Foreign investors are anticipating a long-pending nod from the Foreign Investment Promotion Board (FIPB) for an increase in foreign investment limit in HDFC Bank, going by the recent narrowing in premiums.

The premium between HDFC Bank's American Depositary Receipts (ADRs) and its local shares have seen a sharp reduction in the past month.

In a fresh list of terror outfits circulated by the Securities and Exchange Board of India (Sebi) to the stock exchanges, market entities have been asked to stay cautious about any funds or entities linked to the infamous ISIS (Islamic State in Iraq and Syria) finding their way to Indian capital markets.

While no instance of any ISIS-linked activities in the Indian markets has come to the fore so far, the regulator has informed the stock exchanges about the updated Al-Qaida sanctions list of the United Nations Security Council, which has named various ISIS-linked entities in its new list. The stock exchanges have, in turn, informed their trading members about the updated sanctions list.

Markets continued to trade weak weighed down by select index heavyweights even as Infosys helped offset some of the losses on the back of better-than-expected earnings.

At 10:20AM, the 30-share Sensex was down 233 points at 26,404 and the 50-share Nifty was down 70 points at 7,891.

Markets extended gains and were trading near their day's highs after the first hour of trade led financials and capital goods shares coupled with a rebound in IT shares.

At 10:45AM, the 30-share Sensex was up 298 points at 26,545 and the 50-share Nifty was up 88 points at 7,930.

Extending its rising streak for the fourth straight day, the rupee surged by 31 paise to trade at two-week high of 61.09 against the dollar in early trade today at the Interbank Foreign Exchange on sustained selling of the US currency by exporters and banks.

Forex dealers said besides selling of the American unit by exporters and easing global crude prices, gains in other Asian currencies against the dollar and a higher opening in the domestic stock market, buoyed the sentiment.

Benchmark shares indices remained weak in late trades on Wednesday with technology shares declining the most led by Infosys amid reports of downgrade by global financial services major Citigroup.

At 2:15PM, the 30-share Sensex was down 79 points at 26,193 and the 50-share Nifty was down 26 points at 7,826.

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