Volumes were very dry yesterday. NSE cash volumes were Rs. 9748 Crs. as compared to Rs. 11845 Crs. the previous day. Volumes is BSE cash also saw a drop at Rs. 3581 crs. as compared to Rs. 4252 crs. Finally after the trading hours on Wednesday, the CRR was cut by 1% point to 6.5%, that will leave free Rs.40000 crore for lending. Previous rate and yesterdays rate cut would add to Rs. 1.25 lakh crore liquidity in the market. This will again help the financial firms to lend more money to the cutomers. SEBI has tightened the exposure margin norms in the derivatives segment. The cost of keeping the opening positions have gone up. This may prompt traders to square up the positions as they may have to shelve more for their open trades.
Nifty closed at 3338.4 after making a high of 3518. SGX Nifty trading at 3125 down nearly 200 points. Dow closed at 8577.91 down 733 nearly 8%. S&P closed down by 9%. Hangseng trading down nearly 7.5%, nikkei down by 9.71%.
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