TopNews

U.S. researchers have suggested that legalizing marijuana in California could cut the price by as much as 80 percent and increase consumption.

They prepared the report in an effort to outline objectively the key issues as California weighs whether to legalize marijuana in a November referendum, Researchers at the Rand Corp. have said.

Prakash Jha has chosen his own slogan from his recently released flick "Raajneeti" and registered the title "Karaara" for one of his future projects.

Jha said that he will use it in a range of permutations and combinations.

Jha said, "Though I don't intend to name any of my new film 'Karaara', I've registered it for future reference in various permutations and combinations including, of course, Manoj Bajpai's rabble-rousing "Karaara Jawaab Milehga'."

Crude oil ended up for the second consecutive day as government data showing a bigger-than-expected drawdown in domestic crude inventories. The Energy Information Administration in its weekly inventory report said US crude stockpiles fell by 5 million barrels in the week ended July 2. Oil companies do not expect to see much of an impact on production or refinery run rates from the storm in the Gulf of Mexico that reached land on Thursday. Now support for the crude is seen at 3487 and below could see a test of 3435. Resistance is now likely to be seen at 3580, a move above could see prices testing 3621.

Trading Ideas:

Recently sown paddy crop has been destructed in around 4 days of flood fury in some regions of Haryana and Punjab, the states, which are the largest food grain contributors to the national kitty.

Thus far, 11 fatalities have been reported including six in Punjab and five in Haryana, with 4-5 people missing after being washed away in both states.

Heavy rain accompanied by breaches in rivers and irrigation canals in some regions of both states resulted in flooding since Tuesday.

Silver ended lower falling with gold as demand for precious metals was dampened by greater stability in equities and currencies following last week's sell-off. Silver began the day at 28950. As base metals made gains, Silver reached a high of 29049. Following gold, Silver sold off reaching its low of 28582. Consistent but quiet buying took the metal to a close of 28734.Now support for the silver is seen at 28528 and below could see a test of 28321. Resistance is now likely to be seen at 28995, a move above could see prices testing 29255.

Trading Ideas:

Silver trading range is 28321-29255.

IDBI Bank has appointed Mr. R M Malla as its news Chairman and Managing Director for a period of three years.

The Ministry of Finance has nominated Mr. Malla to the post of Chairman and Managing Director.

Mr. Malla has been appointed for a period up to May 31, 2013, when he would attain the age of superannuation, or until further orders, whichever is earlier.

Earlier, Mr. Malla was the Chairman of SIDBI.

He takes charge from Mr. Yogesh Agarwal whose term finished in June this year and is now Chairman of PFRDA.