The market may open lower mixed global cues. However they may see a trend reversal in second half of the day. Domestic bourses extended their losses for the sixth consecutive session on Monday, 12 November 2007 on sustained selling pressure. The 30-share BSE Sensex declined 170.33 points or 0.90% to 18,737.27 on worries that the fallout from the US subprime markets is spreading deeper into the credit markets and will eventually slow the growth of the US economy.
The concerns were rekindled on Friday, 9 November 2007, when Wachovia Corp, the fourth-largest US bank, reported a potential $1.7 billion loss on mortgage-related debt. The broader S&P CNX Nifty was down 46.15 points or 0.81% to 5617.10 on that day.
Asian markets were trading mixed today, 13 November 2007. Hong Kong's Hang Seng (up 0.51% or at 27,806.23), Taiwan Weighted (up 0.73% at 8,733.50), South Korea's Seoul Composite (up 0.17% at 1,926.62) advanced. However, Japan's Nikkei (down 0.17% at 15,170.56) and Singapore's Straits Times (down 0.55% at 3,491.76) slipped.
US markets edged lower on Monday, 12 November 2007 on expectations of further fallout from the ongoing credit crisis. The Dow Jones industrial average fell 55.19 points, or 0.42%, to 12,987.55. The S&P 500 index slipped 14.52 points, or 1%, to 1,439.18, while the Nasdaq Composite index dropped 43.81 points, or 1.67%, to 2,584.13.
India's industrial output in September 2007 rose 6.4% from a year earlier, sharply lower than annual growth of 10.7% in August 2007 due to sluggish manufacturing and electricity output, government data released during market hours on Monday 12 November 2007 showed. Manufacturing production rose 6.6% in September 2007 from a year earlier, compared with a provisional annual growth of 10.4% in August 2007.
Crude oil prices declined today, 13 November 2007, as the US dollar held on to its recent rebound against the euro and traders weighed up the prospect of another increase in Organization of the Petroleum Exporting Countries (OPEC) production. US light crude for December delivery fell 42 cents to $94.20 a barrel. London Brent crude lost 50 cents at $91.48.
As per provisional data, FIIs sold shares worth a net Rs 1194.38 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 65.99 crore on Monday, 12 November 2007.
Meanwhile from 22 February 2008, futures contracts on the 30-share Sensex, India's widely tracked stock market index, will be available for trading on US Futures Exchange (USFE). The move is part of the Bombay Stock Exchange's (BSE) efforts to facilitate participation of global investors in trading of Sensex futures.
The concerns were rekindled on Friday, 9 November 2007, when Wachovia Corp, the fourth-largest US bank, reported a potential $1.7 billion loss on mortgage-related debt. The broader S&P CNX Nifty was down 46.15 points or 0.81% to 5617.10 on that day.
Asian markets were trading mixed today, 13 November 2007. Hong Kong's Hang Seng (up 0.51% or at 27,806.23), Taiwan Weighted (up 0.73% at 8,733.50), South Korea's Seoul Composite (up 0.17% at 1,926.62) advanced. However, Japan's Nikkei (down 0.17% at 15,170.56) and Singapore's Straits Times (down 0.55% at 3,491.76) slipped.
US markets edged lower on Monday, 12 November 2007 on expectations of further fallout from the ongoing credit crisis. The Dow Jones industrial average fell 55.19 points, or 0.42%, to 12,987.55. The S&P 500 index slipped 14.52 points, or 1%, to 1,439.18, while the Nasdaq Composite index dropped 43.81 points, or 1.67%, to 2,584.13.
India's industrial output in September 2007 rose 6.4% from a year earlier, sharply lower than annual growth of 10.7% in August 2007 due to sluggish manufacturing and electricity output, government data released during market hours on Monday 12 November 2007 showed. Manufacturing production rose 6.6% in September 2007 from a year earlier, compared with a provisional annual growth of 10.4% in August 2007.
Crude oil prices declined today, 13 November 2007, as the US dollar held on to its recent rebound against the euro and traders weighed up the prospect of another increase in Organization of the Petroleum Exporting Countries (OPEC) production. US light crude for December delivery fell 42 cents to $94.20 a barrel. London Brent crude lost 50 cents at $91.48.
As per provisional data, FIIs sold shares worth a net Rs 1194.38 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 65.99 crore on Monday, 12 November 2007.
Meanwhile from 22 February 2008, futures contracts on the 30-share Sensex, India's widely tracked stock market index, will be available for trading on US Futures Exchange (USFE). The move is part of the Bombay Stock Exchange's (BSE) efforts to facilitate participation of global investors in trading of Sensex futures.
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