A Quick Round-up Of the Major Business News During The Week Ending June 20

If you have not had the time to stay in tune with major business developments in India, here is quick round-up.

Markets Stage Good Rally

Benchmark indices gained good ground in trade this week on the back of solid buying in stocks like Reliance Industries.

Hindustan Unilever and heavyweight L&T also helped push the Sensex and the Nifty higher.

Rupee recovers

The rupee staged a good recovery and closed above the 64 levels mark this week. This was also largely to do with strong domestic cues.

Reliance surges 10% during the week

Shares in Reliance Industries surged a huge 10 per cent as investors remained buoyant after the company's 41st annual general body meeting. Solid layout in telecom and retail businesses helped boost sentiments.

Govt weighs sovereign gold bonds to keep tabs on imports

The government is planning to issue sovereign gold bonds linked to the price of the yellow metal, a proposal aimed at reducing demand for gold and control trade deficit.

FM holds meeting with FIIs, top US CEOs on 9-day visit

The Finance Minister Arun Jaitley is holding meetings with FIIs and select top CEOs of American financial companies during his nine-day visit to the US. This is expected to bolster investments into the country.

Housing Finance Company Shares Rise

Shares of the housing finance companies rose during the week after the cabinet approved the launch of "Housing for All by 2022" scheme, with interest subvention of 6.5 percent on housing loans.

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