Indian Market:
Nifty closed lower for the second consecutive session on weak global cues and ahead of expiry day for the month of August. The Sensex shed about 150 points, pulled down by metal, financial, auto, realty, private power, capital goods, healthcare and select telecom companies' shares.
The Nuclear Liability Bill is likely to get past Parliament without facing any more hurdles after the government sorted out the indifferences with the BJP and the Left. The bill is to be tabled in the Lok Sabha today.
The Reserve Bank of India (RBI) said in its annual report for 2009-2010 released on Tuesday, 24 August 2010, that the relative price variability has declined since November 2009 despite inflation remaining high, which indicates that the inflation has become increasingly generalised, and hence, requiring appropriate monetary policy actions to anchor inflation expectations.
Global Cues:
Asian stocks declined on Wednesday, 25 August 2010, on weak US housing data and on data slowing export growth in Japan. The key benchmark indices in Japan, South Korea, Taiwan, Singapore, Hong Kong and China were down by between 0.12% to 2.17%. However Indonesia's Jakarta Composite rose 0.53%.
Nifty closed lower for the second consecutive session on weak global cues and ahead of expiry day for the month of August. The Sensex shed about 150 points, pulled down by metal, financial, auto, realty, private power, capital goods, healthcare and select telecom companies' shares.
The Nuclear Liability Bill is likely to get past Parliament without facing any more hurdles after the government sorted out the indifferences with the BJP and the Left. The bill is to be tabled in the Lok Sabha today.
The Reserve Bank of India (RBI) said in its annual report for 2009-2010 released on Tuesday, 24 August 2010, that the relative price variability has declined since November 2009 despite inflation remaining high, which indicates that the inflation has become increasingly generalised, and hence, requiring appropriate monetary policy actions to anchor inflation expectations.
Global Cues:
Asian stocks declined on Wednesday, 25 August 2010, on weak US housing data and on data slowing export growth in Japan. The key benchmark indices in Japan, South Korea, Taiwan, Singapore, Hong Kong and China were down by between 0.12% to 2.17%. However Indonesia's Jakarta Composite rose 0.53%.
US markets closed sharply lower on Tuesday, 24 August 2010, after another disappointing report on housing renewed worries about the economy. The Dow Jones industrial average fell 133.96 to 10,040.45. The Dow dipped below the psychological 10,000 for the first time in seven weeks in intraday trade, but ended the day above that mark.
Japan is not ruling out market intervention to curb the yen's rise, government sources said on Wednesday, sending the strongest signal yet that the currency's march towards all-time highs may spur Tokyo into action.
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