desidata
16-11-2007, 10:06 AM
The market is likely to extend Thursday (15 November 2007)’s losses on worries that credit losses from US mortgage defaults and slumping US home prices would grow worse, hurting US economy and US corporate profits. Chief Executive John Stumpf of Wells Fargo & Co, the No. 2 US mortgage lender, told a conference that the US housing slump was far from over and was the worst since the Great Depression.
The market has been volatile in recent sessions, caught between jitters about the US housing problems and optimism about India’s economic outlook.
US stocks sank on Thursday, 15 November 2007, as investors grappled with concerns about the strength of consumer spending and the overall economy after downbeat comments from Wells Fargo & Co. and J.C. Penney Co. The Dow Jones industrial average slid 120.96 points, or 0.91%, to finish at 13,110.05. The Standard & Poor's 500 Index dropped 19.43 points, or 1.32%, to close at 1,451.15. The Nasdaq Composite Index fell 25.81 points, or 0.98%, to 2,618.51.
Asian stocks sank today, 16 November 2007, tracking overnight fall in US stocks. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 1.8% to 3.8%.
US crude for December delivery settled down 66 cents, or 0.7%, at $93.43 a barrel on the New York Mercantile Exchange on Thursday. The catalyst for the drop in oil prices was data showing a surprising increase in US crude inventories in the latest week.
The Q2 September 2007 results of India Inc.were decent to strong which means that strong fundamentals would support Indian equities at declines. At the macro level, the India’s economy is expected to post decent to strong growth for a long period of time, mainly due to favourable demographics.
As per provisional data, FIIs sold shares worth a net Rs 153 crore on Thursday, 15 November 2007, when Sensex had lost 144.17 points or 0.72% to 19,784.89. FIIs were net sellers to the tune of Rs 999.50 crore this month (till 14 November 2007).
Massive FII inflow had send the market surging in September 2007 and October 2007. FII inflow was a robust in those two months - at Rs 16132.60 crore in September 2007 and Rs 20590.90 crore in October 2007. FII inflow had surged as huge liquidity infused by a steep 50 basis points cut in Fed funds rates in mid-September 2007 found its way into emerging markets.
The market has been volatile in recent sessions, caught between jitters about the US housing problems and optimism about India’s economic outlook.
US stocks sank on Thursday, 15 November 2007, as investors grappled with concerns about the strength of consumer spending and the overall economy after downbeat comments from Wells Fargo & Co. and J.C. Penney Co. The Dow Jones industrial average slid 120.96 points, or 0.91%, to finish at 13,110.05. The Standard & Poor's 500 Index dropped 19.43 points, or 1.32%, to close at 1,451.15. The Nasdaq Composite Index fell 25.81 points, or 0.98%, to 2,618.51.
Asian stocks sank today, 16 November 2007, tracking overnight fall in US stocks. Key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 1.8% to 3.8%.
US crude for December delivery settled down 66 cents, or 0.7%, at $93.43 a barrel on the New York Mercantile Exchange on Thursday. The catalyst for the drop in oil prices was data showing a surprising increase in US crude inventories in the latest week.
The Q2 September 2007 results of India Inc.were decent to strong which means that strong fundamentals would support Indian equities at declines. At the macro level, the India’s economy is expected to post decent to strong growth for a long period of time, mainly due to favourable demographics.
As per provisional data, FIIs sold shares worth a net Rs 153 crore on Thursday, 15 November 2007, when Sensex had lost 144.17 points or 0.72% to 19,784.89. FIIs were net sellers to the tune of Rs 999.50 crore this month (till 14 November 2007).
Massive FII inflow had send the market surging in September 2007 and October 2007. FII inflow was a robust in those two months - at Rs 16132.60 crore in September 2007 and Rs 20590.90 crore in October 2007. FII inflow had surged as huge liquidity infused by a steep 50 basis points cut in Fed funds rates in mid-September 2007 found its way into emerging markets.