Indian Market Review:
Nifty paused on Wednesday on the back of profit booking and weak European cues. Both indices closed below their psychologically important levels Nifty below 6000 and Sensex below 20000 mark. Even the index witnessed consolidation throughout the session as it had rallied sharply in last 10 out of 11 sessions.
Nifty paused on Wednesday on the back of profit booking and weak European cues. Both indices closed below their psychologically important levels Nifty below 6000 and Sensex below 20000 mark. Even the index witnessed consolidation throughout the session as it had rallied sharply in last 10 out of 11 sessions.
Capital goods, telecom, realty, oil & gas, private power and select technology companies' shares dragged the indices lower today.
Mahindra Satyam will come out with accounts for two financial years of 2008-09 and 2009-10 on 29 September 2010. The announcement of the results will give a clear picture of the financial health of the tainted company that was hit by the Rs 7,126-crore fraud in January 2009.
Global Cues:
Asian markets were trading higher Wednesday driven by healthcare and finance stocks. The key benchmark indices in Hong Kong, Japan and Singapore and rose by between 0.03% to 0.81%. However Indonesia's Jakarta Composite index fell 0.19%.
US markets ended mixed on Tuesday after the Federal Reserve hinted it could take additional measures to stimulate economic growth. The Dow Jones Industrial Average rose 7.41 points, or 0.07%, to 10761.00, closing at its highest level since May.
China's foreign ministry told the United States on Tuesday to stop pointing its finger at Beijing and pushing for a stronger yuan, saying Washington should focus on spurring its fragile economy.
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