Local bourses are expected to rally tracking strong global indices after the US Federal Reserve announced a 0.50% cut in benchmark interest rate to 4.75% from 5.25%. The benchmark index BSE Sensex may strike all time high.
Investment banking giant Lehman Brothers yesterday, 18 September 2007 declared the worst of the credit crisis is over, despite reporting its first quarterly profit dip in five years. In spite of damaging hits in leveraged loans and mortgage arms, the bank benefited in other areas, with profits for the three months to August 2007 down by 3.2% at $887m (£443m), generating earnings per share of $1.54, which was slightly higher than consensus forecasts of $1.47 a share.
Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.72% at 25,491.70), Japan's Nikkei (up 3.36% at 16,333.29), Singapore's Straits Times (up 2.48% at 3,563.87), South Korea's Seoul Composite (up 3.02% at 1,894.10) and Taiwan's Taiwan Weighted (up 0.50% at 8,944.08) surged.
Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.50% point. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.
Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.
As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007
The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. It is now 199.73 points away from its all time high of 15,868.85 hit on 24 July 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.
Investment banking giant Lehman Brothers yesterday, 18 September 2007 declared the worst of the credit crisis is over, despite reporting its first quarterly profit dip in five years. In spite of damaging hits in leveraged loans and mortgage arms, the bank benefited in other areas, with profits for the three months to August 2007 down by 3.2% at $887m (£443m), generating earnings per share of $1.54, which was slightly higher than consensus forecasts of $1.47 a share.
Asian markets surged today, 19 September 2007 tracking overnight gains on Wall Street. Hong Kong's Hang Seng (up 3.72% at 25,491.70), Japan's Nikkei (up 3.36% at 16,333.29), Singapore's Straits Times (up 2.48% at 3,563.87), South Korea's Seoul Composite (up 3.02% at 1,894.10) and Taiwan's Taiwan Weighted (up 0.50% at 8,944.08) surged.
Wall Street shares rallied yesterday, 18 September 2007 after the Federal Reserve cut its benchmark interest rate by a larger-than-expected 0.50% point. The Dow Jones industrial average soared 335.97 points, or 2.51%, to 13,739.39. This was its biggest surge since 2 April 2003. The blue-chip index is now only about 1.9% below its record close of 14,000.41, reached in mid-July. The Standard & Poor's 500 index rose 43.13 points, or 2.92%, to 1,519.78. The Nasdaq Composite index gained 70 points, or 2.71%, to 2,651.66.
Crude oil climbed above $82 a barrel on Wednesday, 19 September 2007 near a record reached a day earlier after the US Federal Reserve slashed interest rates to calm worries over economic growth ahead of peak winter fuel demand. US light crude for October delivery rose 82 cents to $82.33 a barrel, after hitting a record of $82.38 yesterday, 18 September 2007. London Brent crude gained 72 cents to trade at $78.31 a barrel.
As per provisional data, foreign institutional investors (FIIs) purchased shares worth a net Rs 23.38 crore, while domestic institutional investors (DIIs) were net sellers of shares worth Rs 232.93 crore on Tuesday, 18 September 2007
The BSE 30-share Sensex advanced up 164.69 points or 1.06% at 15,669.12, on Tuesday 18 September 2007. It is now 199.73 points away from its all time high of 15,868.85 hit on 24 July 2007. The S&P CNX Nifty rose 51.55 points or 1.15% at 4,546.20, on that day.
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