Indian Market:
Equity benchmarks have seen heavy profit booking since yesterday and wiped out nearly 373 points today & 190 points on Sensex on Thursday while it had surged 485 points on Wednesday. The Nifty has been getting selling pressure whenever it starts inching towards all-time high.
The 30-share BSE Sensex closed at 20125, down 373 points and the Nifty was at 6062, down 115 points.
India's inflation unexpectedly accelerated, increasing pressure on the central bank to extend the most aggressive monetary policy tightening in Asia.
Textile major Raymond's plans to develop a reality project on its 126-acre Thane unit reportedly seems to be getting closer to fructifying with the company close to reaching an out-of-court settlement with its labour union representing 1,885 employees working in the unit.
Equity benchmarks have seen heavy profit booking since yesterday and wiped out nearly 373 points today & 190 points on Sensex on Thursday while it had surged 485 points on Wednesday. The Nifty has been getting selling pressure whenever it starts inching towards all-time high.
The 30-share BSE Sensex closed at 20125, down 373 points and the Nifty was at 6062, down 115 points.
India's inflation unexpectedly accelerated, increasing pressure on the central bank to extend the most aggressive monetary policy tightening in Asia.
Textile major Raymond's plans to develop a reality project on its 126-acre Thane unit reportedly seems to be getting closer to fructifying with the company close to reaching an out-of-court settlement with its labour union representing 1,885 employees working in the unit.
Global Cues:
Asian markets were trading mixed on Friday, 15 October 2010. The key benchmark indices in China, South Korea, Singapore and Taiwan rose by between 0.12% to 0.70%. But, the key benchmark indices in Japan, Indonesia and Hong Kong were down by between 0.30% to 0.72%.
European stocks and U.S. futures fluctuated before a speech by the Federal Reserves Ben S. Bernanke that may provide further clues about the central bank's plans to stimulate the economy. Asian shares declined.
US stocks ended slightly lower on Thursday, 14 October 2010 as investors retreated from financials because of concerns over banks' foreclosure practices. The Dow Jones Industrial Average fell 1.51 points, or 0.01%, to 11094.6, snapping a four-session winning streak in a day of choppy trading.
Enel set the price for its green energy arm's listing at 1.8-2.1 Euros a share, below a previously indicated range and valuing it at up to 10.5 billion Euros ($15 billion) in Europe's biggest IPO in three years.
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