The market is expected to stay under pressure in choppy session of trade, on weak cues from global markets. It may extend losses after last week's setback caused by FII selling due to official attempts to moderate inflows. Stock market regulator Securities and Exchange Board of India (Sebi) is expected to take a decision on 25 October 2007 on its proposal to partially curb participatory notes, an instrument used by foreign investors to buy Indian shares without being registered with the regulator.
Also the crucial meeting of the panel set up by the government to look into Left front's concerns over the Indo-US nuclear deal holds its fifth meeting today, 22 October 2007.
Asian markets were trading weak today, 22 October 2007, in the wake of a sell-off on Wall Street on Friday, 19 October 2007. Hong Kong's Hang Seng (down 3.2% at 28,521.70), Japan's Nikkei (down 3.2% at 16,277.10), Taiwan's Taiwan Weighted (down 3.06% at 9,317.62), Singapore's Straits Times (down 2.2% at 3,665.45) and South Korea's Seoul Composite (down 3.63% at 1,898.59) all edged lower.
US markets tumbled on Friday, 19 October 2007, amid lackluster profit reports, credit concerns on Black Monday Anniversary. The Dow Jones Industrial Average plunged 366.94 points, or 2.64%, to 13,522.02. The Standard & Poor's 500 index fell 39.45 points, or 2.56%, to 1,500.63, and the Nasdaq Composite index dropped 74.15 points, or 2.65%, to 2,725.
The BSE 30-share Sensex plunged 438.41 points or 2.44% to 17,559.98, on Friday, 19 October 2007. From an all time high of 19198.66 struck on 18 October 2007, the Sensex is down a sharp 1638.68 points. The broader based S&P CNX Nifty lost 135.70 points or 2.54% at 5,215.30.
The Sensex settled the week ended 19 October 2007 with a loss of 859 points or 4.7%. The S&P CNX Nifty lost 212.95 points or 3.9% to 5215.30 in the week.
India's wholesale price index rose 3.07% in the 12 months to 6 October 2007, lower than the previous week's 3.26% rise, government data released on Friday, 19 October 2007 showed. It was the lowest annual rise in 5 years.
Volatility is expected to remain high for in coming few days ahead of expiry of October 2007 derivatives contracts on Thursday, 25 October 2007.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 1750.76 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 186.26 crore on Friday, 19 October 2007.
Crude oil prices fell on Monday, 22 October 2007 on profit taking from record highs, but hovered near $88 on simmering geo-political tensions and a weak dollar. US light crude for November delivery fell 77 cents to $87.83 a barrel. On Friday, 19 October 2007, it touched an all-time high of $90.07. London Brent crude fell 46 cents to $83.33 a barrel.
Also the crucial meeting of the panel set up by the government to look into Left front's concerns over the Indo-US nuclear deal holds its fifth meeting today, 22 October 2007.
Asian markets were trading weak today, 22 October 2007, in the wake of a sell-off on Wall Street on Friday, 19 October 2007. Hong Kong's Hang Seng (down 3.2% at 28,521.70), Japan's Nikkei (down 3.2% at 16,277.10), Taiwan's Taiwan Weighted (down 3.06% at 9,317.62), Singapore's Straits Times (down 2.2% at 3,665.45) and South Korea's Seoul Composite (down 3.63% at 1,898.59) all edged lower.
US markets tumbled on Friday, 19 October 2007, amid lackluster profit reports, credit concerns on Black Monday Anniversary. The Dow Jones Industrial Average plunged 366.94 points, or 2.64%, to 13,522.02. The Standard & Poor's 500 index fell 39.45 points, or 2.56%, to 1,500.63, and the Nasdaq Composite index dropped 74.15 points, or 2.65%, to 2,725.
The BSE 30-share Sensex plunged 438.41 points or 2.44% to 17,559.98, on Friday, 19 October 2007. From an all time high of 19198.66 struck on 18 October 2007, the Sensex is down a sharp 1638.68 points. The broader based S&P CNX Nifty lost 135.70 points or 2.54% at 5,215.30.
The Sensex settled the week ended 19 October 2007 with a loss of 859 points or 4.7%. The S&P CNX Nifty lost 212.95 points or 3.9% to 5215.30 in the week.
India's wholesale price index rose 3.07% in the 12 months to 6 October 2007, lower than the previous week's 3.26% rise, government data released on Friday, 19 October 2007 showed. It was the lowest annual rise in 5 years.
Volatility is expected to remain high for in coming few days ahead of expiry of October 2007 derivatives contracts on Thursday, 25 October 2007.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 1750.76 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 186.26 crore on Friday, 19 October 2007.
Crude oil prices fell on Monday, 22 October 2007 on profit taking from record highs, but hovered near $88 on simmering geo-political tensions and a weak dollar. US light crude for November delivery fell 77 cents to $87.83 a barrel. On Friday, 19 October 2007, it touched an all-time high of $90.07. London Brent crude fell 46 cents to $83.33 a barrel.
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