Indian Market:
Benchmark Nifty closed below the 6000 level on expiry day for the month of October 2010 on Thursday, especially after extremely volatile trade in last one hour of trade. The market has seen highest ever turnover today; which was more than 2.6 lakh crore.
Record demand for initial public offerings in Asia is reducing the share of U.S. IPOs to an all- time low as companies from China to Malaysia and India flood the market with more equity than ever.
State-run Punjab National Bank Ltd will find it difficult to sustain margins at current levels, Chairman K.R. Kamath told reporters on Thursday.
Global Cues:
Asian markets were trading mixed on Thursday, 28 October 2010. The key benchmark indices in Hong Kong, China, South Korea, Indonesia and Japan were down by between 0.07% to 0.24%. But, the key benchmark indices in Taiwan and Singapore were up 0.14% and 0.32% respectively.
US stocks dropped on Wednesday, 27 October 2010, amid concerns that the Fed's plan to boost the economic recovery may not be large enough. The Dow Jones Industrial Average fell 43.18 points, or 0.39%, to 11126.28 and the Standard & Poor's 500 dropped 3.19 points, or 0.27%, to 1182.45.
German unemployment fell slightly in October, dropping to its lowest level in 18 years as the impact of persistently strong growth in Europe's top economy continued to filter through to the jobs market.
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