Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment
 
 
« Markets »
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?
 Sebi mulls allowing foreign VCs in infra investment firms

Markets trade weak, Sensex down 320pts
October, 03rd 2011

The markets are opened weak following negative cues from the Asian and US markets. The BSE Sensex is at 16,131, down 323 points and the S&P CNX Nifty is at 4,850, down 94 points. Global stocks closed their worst quarter in nearly three years on Friday on concerns about the world economy and the lack of a credible solution to Europe's debt crisis.

On Friday, US stocks dropped more than two per cent as signs of slower growth spanning China, Europe and the United States, and the ongoing Greek crisis, hung darkly over the markets. The Dow Jones industrial average dropped 241 points to 10,913.38. The S&P 500 fell 29 points to 1,131.42. The Nasdaq Composite slid 66 points to 2,415.40.

Monday morning, most Asian markets are also trading in the negative over deepening concerns that the euro zone's debt crisis will dampen global growth. The Nikkei 225 is trading 2.3% lower at 8,504, while the Hang Seng has shed 4.2% to 16,846.

Back home, investors are opting to play it safe and may remain on the sidelines ahead of the quarterly results of India Inc, analysts say. Technically the market is in a typical sideways zone with no sign of direction and a slide down to around 4,800 is a possibility. The Nifty faces stiff resistance at 5,037, said Prakash Gaba, a technical analyst.

On Friday, the markets declined almost 2% due to selling in ADAG shares, roiled by 2G scam and also metal shares, after the cabinet cleared the new mining bill, calling for companies to share profits. The Nifty declined 72 points, at 4,943 and the Sensex lost 244 points, at 16,453.

Among sectoral indices, BSE Metal, Bankex and Realty indices are leading the losses, having shed 2-4% each. Jindal Steel & Power, JSW Steel, Hindalco Industries, Tata Steel and Hindustan Zinc, down 3-7% each, are the major losers among the Metals' stocks.

ICICI Bank, Union Bank of India, Axis Bank and Yes Bank, down 3% each, are the major losers among the financials.

Maruti Suzuki, up 1% at Rs 1,087, is the only gainer among the Sensex stocks in an extremely weak environment. Top losers on the Sensex include Jindal Steel, Hindalco Industries, Tata Power, Tata Steel and DLF, down 3-5% each.

The overall market breadth is negative as 1,007 stocks have declined against 613 advancing ones, on the BSE.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions