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
Rupee appreciates to 49.89 per dollar December 4, 2008
Posted by dhirendra1972 in Domestic Bonuses, Domestic Unit, Equity markets, Exporters, Global Equity Market, Increased dollar selling.Tags: Banks, Bonuses, Equity, Market, Rupee, Trade, Unit
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Good morning friends. As I was reading news in reference to indianexpress, I may say that really dollar is fluctuating. It easily goes down.
The Indian rupee on Thursday appreciated by 11 paise against the US dollar in early trade on increased dollar selling by exporters and banks amid firming Asian equity markets.
At the Interbank Foreign Exchange (forex) market, the domestic unit rose by 11 paise to 49.89 against the greenback in opening trade. The rupee had gained 15 paise at 50.00/02 against dollar on Wednesday.
Dealers attributed the rupee’s gain to increased dollar selling by banks and exporters after a surging trend in global equity markets and hopes of firm opening in domestic bonuses.
Asian markets today opened on a positive note with Hong Kong’s Hang Seng moving up 1.98 per cent while Japan’s Nikkei rising 0.62 per cent in early trade, taking cues from overnight rally in the US stocks.
