Key benchmark indices are likely to open sharply higher as they catch-up with global cues after a two-day break on 10 and 11 March 2009 on account of local holidays. The SGX Nifty futures for March 2009 series surged 87 points in Singapore. The index of industrial production (IIP) figures for January 2009 and inflation data for week ended 28 February 2009 to be announced by noon today, 12 March 2009 will be closely watched.
Most Asian markets were trading lower today, 12 March 2009, led by finance companies and automakers, amid renewed concern the deepening global recession will cause company earnings to deteriorate further. Key benchmark indices in China, Hong Kong, Japan, Singapore and South Korea were down by between 0.07% and 1.96%. However Taiwan's Taiwan Weighted index rose 0.24%.
US markets ended slightly higher on Wednesday, 11 March 2009 amid hope for additional government financial support for the tumbling economy. The Dow Jhones industrial average rose 3.91 points, or 0.06%, to 6,930.40. The Standard & Poor`s 500 index climbed 1.76 points, or 0.24%, to 721.36, while the Nasdaq Composite index increased 13.36 points, or 0.98%, to 1,371.64.
JP Morgan CEO Jamie Dimon said that the bank was profitable in January and February 2009 bolstering speculation that the worst of the banking crisis may be over.
Back home, key benchmark indices dropped on Monday, 9 March 2009 as subdued-to-weak trend in global markets, a dismal US jobs data, a weak rupee and concerns of sustained outflow by foreign funds weighed on the domestic bourses. The BSE 30-share Sensex lost 165.42 points or down 1.99%, to settle at 8,160.40, its lowest closing in more than three years. The S&P CNX Nifty fell 47 points or 1.79% to 2573.15, its lowest closing since 20 November 2008.
According to provisional data on NSE, Foreign institutional investors (FIIs) were net sellers worth Rs 84.94 crore while mutual funds bought shares worth Rs 299.72 crore on Monday, 9 March 2009.
The National Stock Exchange had earlier said that trading would continue in the normal course from 5 March 2009 to 19 March 2009 despite Sun Outage between 11:45 IST to 12:25 IST. The exchange has advised members to use alternative mode of connectivity instead of VSAT during the above mentioned period for continuing trading without any disruptions on account of Sun outage.
Earlier on 25 February 2009, the Indian Space Research Organization (ISRO) had informed the NSE that there would be Sun Outage from 5 March 2009 to 19 March 2009 between 11:45 IST to 12:25 IST due to which trading members may face connectivity problems at different times on different dates based on geographical location during this period.
Most Asian markets were trading lower today, 12 March 2009, led by finance companies and automakers, amid renewed concern the deepening global recession will cause company earnings to deteriorate further. Key benchmark indices in China, Hong Kong, Japan, Singapore and South Korea were down by between 0.07% and 1.96%. However Taiwan's Taiwan Weighted index rose 0.24%.
US markets ended slightly higher on Wednesday, 11 March 2009 amid hope for additional government financial support for the tumbling economy. The Dow Jhones industrial average rose 3.91 points, or 0.06%, to 6,930.40. The Standard & Poor`s 500 index climbed 1.76 points, or 0.24%, to 721.36, while the Nasdaq Composite index increased 13.36 points, or 0.98%, to 1,371.64.
JP Morgan CEO Jamie Dimon said that the bank was profitable in January and February 2009 bolstering speculation that the worst of the banking crisis may be over.
Back home, key benchmark indices dropped on Monday, 9 March 2009 as subdued-to-weak trend in global markets, a dismal US jobs data, a weak rupee and concerns of sustained outflow by foreign funds weighed on the domestic bourses. The BSE 30-share Sensex lost 165.42 points or down 1.99%, to settle at 8,160.40, its lowest closing in more than three years. The S&P CNX Nifty fell 47 points or 1.79% to 2573.15, its lowest closing since 20 November 2008.
According to provisional data on NSE, Foreign institutional investors (FIIs) were net sellers worth Rs 84.94 crore while mutual funds bought shares worth Rs 299.72 crore on Monday, 9 March 2009.
The National Stock Exchange had earlier said that trading would continue in the normal course from 5 March 2009 to 19 March 2009 despite Sun Outage between 11:45 IST to 12:25 IST. The exchange has advised members to use alternative mode of connectivity instead of VSAT during the above mentioned period for continuing trading without any disruptions on account of Sun outage.
Earlier on 25 February 2009, the Indian Space Research Organization (ISRO) had informed the NSE that there would be Sun Outage from 5 March 2009 to 19 March 2009 between 11:45 IST to 12:25 IST due to which trading members may face connectivity problems at different times on different dates based on geographical location during this period.
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