Equity benchmarks ended with moderate losses after showing smart recovery in late trade due to short covering. But the Nifty managed to claw back above 6100 level.
30-share BSE Sensex closed at 20,250.26, up 65.06 points or 0.32% and the 50-share NSE Nifty fell 16.85 points or 0.28% to settle at 6,103.45. Even the broader indices ended 0.3-0.5% lower. However, the Nifty October futures ended 39 points premium, as per provisional data.need to restrict foreign institutional investment and foreign direct investment at this time, Finance Minister Pranab Mukherjee said after the rupee climbed to near a two-year high.
The open offer of Sesa Goa, the Indian subsidiary of Vedanta Resources, to acquire a 20% stake in Cairn India from public shareholders has reportedly hit a roadblock as Sebi is yet to give its approval to the offer. The offer was scheduled to start on 11 October 2010.
Global Cues:
Asian stock markets were mixed on Friday as a strong yen dragged on Japanese shares and uncertainty clouded sentiment ahead of a key US jobs report due later in the global day. The key benchmark indices in Taiwan, South Korea, Japan and Indonesia fell by between 0.39% to 0.91%. But, the key benchmark indices in China, Hong Kong and Singapore rose by between 0.09% to 2.36%.
Japan said it will continue to intervene to curb a strong yen if necessary, just hours before G7 and IMF officials meet to discuss escalating tension over currency policies, and Thailand is also poised to act.
The U.S. economy probably added no jobs in September as shrinking government payrolls offset modest gains in private hiring, an outcome that would cement expectations of further Federal Reserve action to spur the recovery.
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