Fed rate cut fails to lift markets December 17, 2008
Posted by dhirendra1972 in BSE, Bse news, Business, Capital Market, Commercial Banks, Commodity Market, Domestic Brand, Equity markets, Finance, Financial Capital, financial market, Financial Security, Global Equity Market, Global Market.Tags: BSE Sensex, Federal Reserve, Indian Stock Makret, money market, Sensex, Stock Market, Wall Stree
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Good Morning Friends, Market won’t lift even after Federal Reserve cut the rate. Word recession is going to remain. I was reading this news on yahoo site. The markets are weak in early trade despite an overnight rally on Wall Street after a drastic interest rate cut by the Federal Reserve to near zero.
After opening in the green above 10K levels, the Sensex is down 0.8 per cent to 9897 levels. The Nifty has also shed 0.7 per cent.
“The markets have gained 15-17 per cent in the last 8-9 trading sessions. The rate cut by Fed is a good signal though markets may see bouts of profit booking at higher levels,” said Alok Agarwal, Head of Research, K R Choksey Securities.
The Fed reduced the target for the federal funds rate, the interest that banks charge each other, to a range of zero to 0.25 percent. That is down from the 1 percent in effect since the last meeting in October.
On Wall Street, the Dow Jones industrial average spiked 359.61 points, or 4.20 percent, to close at 8,924.14. It had been up about 100 in subdued trading ahead of the Fed’s announcement.
The Standard & Poor’s 500 index advanced 44.61, or 5.14 percent, to 913.18, and the Nasdaq composite index rose 81.55, or 5.41 percent, to 1,589.89.
In the Indian markets, buying is seen in consumer durables, banking and capital goods stocks while selling pressure is seen in technology counters. Blinds and Roller shades blinds companies are also working under pressure. Term Life Insurance companies and
Among the Sensex stocks, ICICI Bank leads gainers. It has jumped more than 2.5 per cent.
Satyam Computers is down 23 per cent after the company called off its proposed $1.6-billion acquisition of Maytas Properties and Maytas Infrastructure. more
PM narrows down on small sector December 9, 2008
Posted by dhirendra1972 in Business, Capital Market, Domestic Brand, Domestic Equity Market, Equity, Equity Market, Finance, Financial Capital, financial market, Indian Business, Online Marketing, Working Capital.Tags: Indian Business, Marketing, money market, small sector, small sector in indian market
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Good Evening friends, PM of Indian Dr. Manmohan Singh is takeing care of small and medium enterprises. I read following news at yahoo site. In a move aimed at further boosting the micro, small and medium enterprises (MSME) sector, Prime Minister Manmohan Singh is understood to have asked a high-level committee headed by the cabinet secretary K M Chandrasekhar to look into the issues plaguing the sector and submit its report within a fortnight.
The move comes a day after the government announced a package to stimulate the economy. The package, however, has failed to enthuse its entrepreneurs. All India Confederation of Small & Micro Industries Association president Sudarshan Sareen said, “The RBI’s Rs 7,000-crore credit refinancing is too less. At least Rs 10,000 crore should be made available for rehabilitation of sick industries and another Rs 10,000 crore for marketing development fund.” A delegation of the association, which met the Prime Minister today, sought adequate support from the government.
MSME secretary Dinesh Rai told The Indian Express that the memorandum submitted to the PM included speedy formation of a special fund for enterprises in the unorganised sector and an enhancement of cash-credit limits/ over draft facilities by at least 15 per cent. Besides seeking extension of time period for reckoning MSE accounts as NPAs from 90 to 180 days.
GLOBAL MARKETS – World stocks hit 2-week highs, bonds ease – 1 November 27, 2008
Posted by dhirendra1972 in Demands, Financial Capital, Global Stocks, Highest Level, Sharp Gains.Tags: Assets, Capital, European Equities, Stocks
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Global stocks rose to their highest level in nearly two weeks on Thursday with European equities buoyed by sharp gains in Asia and the United States, dampening demand for safer assets such as government debt.
Renewed expectations that Washington will bail out the U.S. motor industry and China’s aggressive interest rate cut on Wednesday helped to lift some of the gloom surrounding the global economy.
But a string of dismal U.S. economic reports this week left the dollar on a shaky footing while political risk emerged after attacks in India’s financial capital.
At least 101 people have been killed with hundreds more trapped by Islamist gunmen in Mumbai after attacks on luxury hotels, hospitals and a tourist cafe.
Still, with U.S. financial markets closed on Thursday for the Thanksgiving holiday, analysts expect trading in Europe to be lacklustre. While stocks were eking out gains, analysts said the outlook was still bleak.
“It’s going to be a bit of a nothing day, as we wait for Black Friday in the United States — the day where all retailers go from red to black,” said Justin Urquhart Stewart, investment director at Seven Investment Management. “If it goes like the UK, it could be a black Friday in the wrong sense.”
The day after Thanksgiving, known as black Friday, is traditionally the busiest time for U.S. retailers and investors would undoubtedly be on the lookout for retail sales figures.
