In the morning session, Indian indices openend and surged sharply but ended up lower on back of profit booking. Nifty closed lower at 3518 and Sensex clsoed below at 11410. Nifty has a resistance at 3700. Indian MF faces the heat of redemptions nearly Rs. 25000 has been redeem from the MF's in the month of Oct. Investors withdraw nearly Rs. 46000/- in the month of Sep.
US govt provides $250bn capital support banks. Us government will spend $250bn to take stakes in thousands of banks and financial firms. This step could probably help banks to lend more to the consumers. This could mark a new age in banking. $125bn will be provided to top financial firsm like Citigroup, Goldman Sachs, JP Morgan chase, Wells Fargo, ML, MS, BOA, Bank of NewYork. Dow Jones recovered in the closing session from the lows of around 210 points. Dow closed marginally in red by 76 points but Nasdaq Closed below, around 3 % nearly 65 points. Nikkei surged more than 14 % as the Japan govt unveiled steps to help its financial markets. Australian govt infuses nearly $7.4bn to boost economy, to protect it from global financial meltdown.
No comments:
Post a Comment