Weakness in global markets may continue to weigh on the domestic bourses for a second day in a row today, 5 September 2008. However, the downside may be capped on data showing softening of inflation for a second straight week and on reports that the Nuclear Suppliers Group (NSG) was inching towards forging a consensus on clearing a waiver to India for nuclear commerce, a decision that can take the Indo-US nuclear deal forward.
Annual inflation rose 12.34% in the year through 23 August 2008, lower than previous week's 12.40% rise, data released by the government after trading hours on Thursday, 4 September 2008 showed. Food prices for staples like lentils and vegetables eased while fuel prices remained flat, the data showed. Inflation, however, remains far above central bank's target level of 7% towards the year ending March 2009.
The United States said on Thursday, 4 September 2008, 45 nations were making headway towards agreement on lifting a ban on nuclear trade with India after Washington reworked a draft for the move to ease proliferation fears. The two-day meeting of NSG ends today, 5 September 2008.
Fears about economic growth and a 3% slump in US stocks on Thursday, 4 September 2008, sent Asian shares sprawling on Friday, 5 September 2008 and investors sought safe-haven bonds and unwound currency carry trades, lifting the yen to a 13-month high versus the euro. Key benchmark indices in Hong Kong, China, Japan, South Korea, Singapore and Taiwan were down by between 0.95% to 2.61%.
Wall Street suffered its steepest decline in more than two months on Thursday, 4 September 2008, after weekly government data showed an unexpected jump in the number of filings for jobless benefits, souring the mood before Friday's (5 September 2008)'s jobs report for August 2008, which is expected to show the eighth consecutive decline, with 75,000 jobs lost.
Weak global cues had pulled Sensex down 150.76 points or 1% to 14,899.10, on Thursday, 4 September 2008. As per provisional data released by the stock exchanges, foreign funds sold shares worth a net Rs 603.28 crore on Thursdays. Domestic funds bought shares worth a net Rs 431.11 crore.
Annual inflation rose 12.34% in the year through 23 August 2008, lower than previous week's 12.40% rise, data released by the government after trading hours on Thursday, 4 September 2008 showed. Food prices for staples like lentils and vegetables eased while fuel prices remained flat, the data showed. Inflation, however, remains far above central bank's target level of 7% towards the year ending March 2009.
The United States said on Thursday, 4 September 2008, 45 nations were making headway towards agreement on lifting a ban on nuclear trade with India after Washington reworked a draft for the move to ease proliferation fears. The two-day meeting of NSG ends today, 5 September 2008.
Fears about economic growth and a 3% slump in US stocks on Thursday, 4 September 2008, sent Asian shares sprawling on Friday, 5 September 2008 and investors sought safe-haven bonds and unwound currency carry trades, lifting the yen to a 13-month high versus the euro. Key benchmark indices in Hong Kong, China, Japan, South Korea, Singapore and Taiwan were down by between 0.95% to 2.61%.
Wall Street suffered its steepest decline in more than two months on Thursday, 4 September 2008, after weekly government data showed an unexpected jump in the number of filings for jobless benefits, souring the mood before Friday's (5 September 2008)'s jobs report for August 2008, which is expected to show the eighth consecutive decline, with 75,000 jobs lost.
Weak global cues had pulled Sensex down 150.76 points or 1% to 14,899.10, on Thursday, 4 September 2008. As per provisional data released by the stock exchanges, foreign funds sold shares worth a net Rs 603.28 crore on Thursdays. Domestic funds bought shares worth a net Rs 431.11 crore.
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