In the previous note I have mentioned that the Nifty support is at 5120-5030. Nifty closed at 5155 after making a low of 5116.3. I had also given a Short Call on Nifty future at 5155 with a target of 5080 to my private clients and that was also a hit within few minutes.The view is still cautious. Till the time Nifty is not closing above 5200-5400 levels the view will remain the same. Traders should trade with strict stop loss. Keep your delivery positions minimum.
BNP Paribas SA, France's largest bank, reported a 42 percent decline in fourth-quarter profit after writing down the value of securities hurt by worsening credit markets.
Net income fell to 1.01 billion euros ($1.47 billion) from 1.72 billion euros a year earlier, the Paris-based bank said in a statement today. The result matches the estimated earnings BNP Paribas released on Jan. 30.
Net income fell to 1.01 billion euros ($1.47 billion) from 1.72 billion euros a year earlier, the Paris-based bank said in a statement today. The result matches the estimated earnings BNP Paribas released on Jan. 30.
Switzerland's second-largest bank took $2.85 billion of writedowns on asset-backed securities after an internal review found ``mismarkings'' by a group of traders and debt markets deteriorated.
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