Indian Market:
The Nifty slipped in late trade today to close the session below 5450 with loss of 1%. Metal, realty, capital goods, pharma stocks witnessed heavy selling pressure. While Reliance, Infosys, ICICI Bank, L&T and SBI were the negative contributors to the Sensex.
State Bank of India the country's largest lender, said on Monday it was raising lending and deposit rates, signalling a tightening policy by the central was trickling down.
Yes Bank Ltd., the privately-owned Indian lender, raised 6.65 billion rupees ($142 million) through two bond sales.
Global Cues:
Asian stock markets started Monday, 16 August 2010, weaker amid cautious trade, after US stocks declined on Friday, 13 August 2010. The key benchmark indices in Singapore, Hong Kong, Taiwan, Indonesia, South Korea and Japan were down by between 0.11% to 0.91%. But, China's Shanghai Composite rose 0.89%.
The Nifty slipped in late trade today to close the session below 5450 with loss of 1%. Metal, realty, capital goods, pharma stocks witnessed heavy selling pressure. While Reliance, Infosys, ICICI Bank, L&T and SBI were the negative contributors to the Sensex.
State Bank of India the country's largest lender, said on Monday it was raising lending and deposit rates, signalling a tightening policy by the central was trickling down.
Yes Bank Ltd., the privately-owned Indian lender, raised 6.65 billion rupees ($142 million) through two bond sales.
Global Cues:
Asian stock markets started Monday, 16 August 2010, weaker amid cautious trade, after US stocks declined on Friday, 13 August 2010. The key benchmark indices in Singapore, Hong Kong, Taiwan, Indonesia, South Korea and Japan were down by between 0.11% to 0.91%. But, China's Shanghai Composite rose 0.89%.
European stocks fell, extending the biggest weekly drop in more than a month, as slower-than forecast economic growth in Japan increased concern that the global recovery may be faltering. Most Asian shares and U.S. index futures declined.
US stocks closed out their worst week in six with a small losses on Friday, 13 August 2010, as economic data gave little reason to reverse a string of sell-offs. US retail sales rebounded last month, as did the overall July Consumer Price Index, but the data was consistent with an economy that has slowed in recent months.
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