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Market Cues

Thursday, September 6, 2007

FIIs net buy in equity $ 156 Mn, MFs net buy Rs 98.8 Cr; Asian markets recovered

On Sep 4, FIIs net buy in equity were $ 156 million while MFs net buy in equity were Rs 98.8 crore. NSE F&O Open Interest was up Rs 1,878 crore at Rs 72,574 crore.

On global front, US markets slipped on renewed concerns about credit markets. Fed's Beige Book offers little insight into possibility of a rate cut on Sep 18. Dow was down by 143.4 points at 13,306 while Nasdaq was down by 24 points at 2606. US 10-year treasuries declined to the lowest levels since March at 4.48%. BoE & ECB to decide on interest rate today. ECB says it is ready to act if volatility persists.

In the Asian markets, most of them recovered after opening in the red. In Emerging Markets, Brazil was down 1.5% while Russia ended flat.

In the currency market, Yen appreciated by 66 bps at 115.25 vs dollar; hits intra-day high of 114.79/$. Crude was at 5-week highs on concerns about demand-supply mismatch.

Posted by FR at 9:40 AM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.