Finally AIG got a bridge loan from the US govt of $85 billion in exchange of 79.9% stake in the giant insurer and of the most admired companies. Barclays said that it would acuire Lehmans North American investment banking and capital markets businesss for $250 million in cash. Morgan is in talks with China's CITIC. Morgan Stanley has sold in India-big time. Is it a sigh of another collapse??? On wednesday MS Mauritius Co. arm sold around Rs.870 Cr in some blok deals. Block deals inculde United spirits, Pantaloon Retail, Educomp Soln, jindal Saw, Gujnre coke, Opto Circuits, Subhasd Projects. Morgan Stanley stocks tumbled down around 44% and Goldman Sachs 23%. Dow is 4% down and Nasdaq pluged 4.9%.
There were rumors of ICICI Banks top official offlodding their hodlings in fear of big losses in the balance Sheet, that lead to 11% fall in the stock prices. The clarification was given by the Top officials in the market hours. Nifty closed at 4008 after opening at 4074. Nifty made a high of 4116, but could not sustain for a longer period. Nifty could plung down till 3650 in extreme case.
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