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Friday, December 24, 2010

Stock Market Reports

Indian Market:

Equity benchmarks continued its consolidation on Thursday as well and closed the session on a flat note - indices hovered around just their previous closing values. The Nifty remained in a range of 5970-6005 levels. Sun Pharma was the top gainer with 5% rally while SAIL was biggest loser with loss of 4.66%.

30-share BSE Sensex closed at 19982, with loss of 33 points and the 50-share NSE Nifty declined 4.4 points to settle at 5,890. The broader indices too closed flat with a negative bias.

The Reserve Bank of India urged commercial banks to continue lending to the microfinance sector, after a crackdown on their activities by Andhra Pradesh government curbed collections and new business.

Global Cues:

Asian stock markets offered a mixed reaction Thursday, 23 December 2010 to news that the US economy grew faster than expected in Q3 September 2010. Trading was light ahead of Christmas holidays and with Japanese financial markets closed for the emperor's birthday. The key benchmark indices in Hong Kong, Singapore and Taiwan rose by between 0.25% to 0.55%.

US stock indices edged up to two-year highs on Wednesday, 22 December 2010, after a government report showed the country's gross domestic product rose at an annual rate of 2.6% between July and September, higher than its earlier estimate of 2.5%. Sales of previously owned US homes rose in November, offering another sign the economy was ending the year on a positive note.

China is willing to help countries in the euro zone return to economic health, a Chinese Foreign Ministry spokeswoman said on Thursday, following a report that Beijing could step in to shore up finances in the beleaguered block.

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