Key benchmark indices may extend last two days' losses on weak global cues. Political uncertainty may cause volatility on the bourses in the next few days. Investors will closely watch the industrial output data to be announced by the government at 12:00 IST today.
Industrial output fell an annual 1.2% in February 2009, according to provisional figures. Output rose 0.4% in January 2009 and fell 0.6% in December 2008.
Political worries may cause volatility on the bourses in the next few days with polling underway for India's 15th Lok Sabha. The month-long a parliamentary elections that began on 16 April 2009 will conclude on 13 May 2009. Poll estimates point to a fractured mandate. Consumption and investment decisions will be significantly impacted by any signs that the new government is unstable. The counting of votes will take place on 16 May 2009. A party/alliance needs 272 seats in the 543-member parliament to claim power at the Centre.
Asian stocks slid today from a seven-month high, led by banks and mining companies, as investors sold shares trading at their most expensive valuations in five years. Key benchmark indices in Japan, South Korea, Singapore and Taiwan fell by between 0.01% to 2.47% . But key benchmark indices in China and Hong Kong rose by between 0.01% to 0.09%.
In US, The Dow and the S&P 500 fell on Monday 11 May 2009 due to profit taking after a two-month run-up, while news of several share offerings weighed on banks as investors worried about their dilutive impact on current shareholders. The Dow Jones industrial average dropped 110.71 points, or 1.29% to 8,463.94. The Standard & Poor's 500 Index fell 13.33 points, or 1.43% to 915.90. But the Nasdaq Composite Index rose 5.35 points or 0.31 %, to 1,744.28.
Back home, profit taking emerged after a solid rally on the domestic bourses recently. The rally was a part of a sharp surge in global equities triggered by hopes the worst of the global economic recession may be over. From a recent high of 12,134.75 on 4 May 2009, the Sensex has lost 451.76 points or 3.72% to 11,682.99 on Monday 11 May 2009. Yet, the Sensex is up 2,035.68 points or 21.1% in calendar year 2009.
As per the provisional figures on NSE, the foreign funds bought shares worth Rs 79.88 crore on Monday, 11 May 2009 even as domestic funds sold shares worth Rs 89.39 crore on Friday 8 May 2009.
Industrial output fell an annual 1.2% in February 2009, according to provisional figures. Output rose 0.4% in January 2009 and fell 0.6% in December 2008.
Political worries may cause volatility on the bourses in the next few days with polling underway for India's 15th Lok Sabha. The month-long a parliamentary elections that began on 16 April 2009 will conclude on 13 May 2009. Poll estimates point to a fractured mandate. Consumption and investment decisions will be significantly impacted by any signs that the new government is unstable. The counting of votes will take place on 16 May 2009. A party/alliance needs 272 seats in the 543-member parliament to claim power at the Centre.
Asian stocks slid today from a seven-month high, led by banks and mining companies, as investors sold shares trading at their most expensive valuations in five years. Key benchmark indices in Japan, South Korea, Singapore and Taiwan fell by between 0.01% to 2.47% . But key benchmark indices in China and Hong Kong rose by between 0.01% to 0.09%.
In US, The Dow and the S&P 500 fell on Monday 11 May 2009 due to profit taking after a two-month run-up, while news of several share offerings weighed on banks as investors worried about their dilutive impact on current shareholders. The Dow Jones industrial average dropped 110.71 points, or 1.29% to 8,463.94. The Standard & Poor's 500 Index fell 13.33 points, or 1.43% to 915.90. But the Nasdaq Composite Index rose 5.35 points or 0.31 %, to 1,744.28.
Back home, profit taking emerged after a solid rally on the domestic bourses recently. The rally was a part of a sharp surge in global equities triggered by hopes the worst of the global economic recession may be over. From a recent high of 12,134.75 on 4 May 2009, the Sensex has lost 451.76 points or 3.72% to 11,682.99 on Monday 11 May 2009. Yet, the Sensex is up 2,035.68 points or 21.1% in calendar year 2009.
As per the provisional figures on NSE, the foreign funds bought shares worth Rs 79.88 crore on Monday, 11 May 2009 even as domestic funds sold shares worth Rs 89.39 crore on Friday 8 May 2009.
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