Indian Market:
Bears attacked on bulls and took the complete control of Dalal Street on Friday. The sell-off by foreign investors on rate hike fears in China, payment default by Dubai group and disappointing industrial production data shook the markets. The Nifty closed well below the 6100 level and the Sensex shed more than 430 points - one of the big sell-off in last few months.
The 50-share NSE Nifty closed at 6071, down 122 points and the 30-share BSE Sensex tumbled 432 points to 20156. All sectoral indices ended in red; the BSE Realty Index was the biggest loser - fell over 4.76%. Metal Index was down 3.3% and Bankex down 2.9%. Auto fell 2%.
India's Lanco Infratech, engaged in infrastructure construction, is looking to increase operating capacity of its power plants to 4,000 megawatt (MW) by March.
Global Cues:
Asian stock markets were mostly lower on Friday, with banking stocks hurting the Tokyo and Sydney bourses. Sentiment was hurt by Wall Street's drop Thursday, dragged by a plunge in Cisco System's shares and concerns over European sovereign debt. The key benchmark indices in China, Hong Kong, Indonesia, Japan,Singapore and Taiwan fell by between 0.14% to 0.84%.
U.S. stock-index futures retreated, indicating the benchmark Standard & Poor's 500 Index will extend the biggest weekly drop in three months, amid concern China may raise interest rates to curb inflation.
German economic growth slowed in the third quarter, after record expansion in the second, as the cooling global recovery crimped export demand.
Bears attacked on bulls and took the complete control of Dalal Street on Friday. The sell-off by foreign investors on rate hike fears in China, payment default by Dubai group and disappointing industrial production data shook the markets. The Nifty closed well below the 6100 level and the Sensex shed more than 430 points - one of the big sell-off in last few months.
The 50-share NSE Nifty closed at 6071, down 122 points and the 30-share BSE Sensex tumbled 432 points to 20156. All sectoral indices ended in red; the BSE Realty Index was the biggest loser - fell over 4.76%. Metal Index was down 3.3% and Bankex down 2.9%. Auto fell 2%.
India's Lanco Infratech, engaged in infrastructure construction, is looking to increase operating capacity of its power plants to 4,000 megawatt (MW) by March.
Global Cues:
Asian stock markets were mostly lower on Friday, with banking stocks hurting the Tokyo and Sydney bourses. Sentiment was hurt by Wall Street's drop Thursday, dragged by a plunge in Cisco System's shares and concerns over European sovereign debt. The key benchmark indices in China, Hong Kong, Indonesia, Japan,Singapore and Taiwan fell by between 0.14% to 0.84%.
U.S. stock-index futures retreated, indicating the benchmark Standard & Poor's 500 Index will extend the biggest weekly drop in three months, amid concern China may raise interest rates to curb inflation.
German economic growth slowed in the third quarter, after record expansion in the second, as the cooling global recovery crimped export demand.
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