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Market Cues: FIIs net sell in equity $ 440.4 Mn; NSE F&O OI down Rs 2,272 Cr at Rs 97,014 Cr; Dow Jones down 3.6 pts at 13889

Friday, October 19, 2007

FM says that the market fall is due to motivated rumour of PM resigning. He rules out resignation but says that he hasn't given up hopes on N-Deal.

On Oct 17, FIIs net sell in equity were $ 440.4 million while MFs net buy in equity were Rs 22.1 crore. NSE F&O OI was down Rs 2,272 crore at Rs 97,014 crore.

On global front, iShares MSCI India ETF was down 4.5% (listed on Singapore exchange). iPath MSCI India Index was down 2% (Issuer: Barclays Bank). US markets ended flat; disappointing earnings from Bank of America. Dow Jones was down 3.6 points at 13889 while Nasdaq was up 6.6 points at 2799.3. Fed Futures contracts show 70% probability of 25 bps cut Vs 54% yesterday. CBOE Volatility Index was down 0.22% at 18.5. Bank of America Q3 profit was down 32% while Global Corp & Invst Banking segment profits were down 93% (.33 billion).

In Asia, Asian markets opened trade on a weak note. In emerging markets, Brazil trades flat while Russia was down 1%. In currency market, Yen appreciated 1.04% to 115.22/$, Euro hits all-time high Vs dollar.

In commodities market, Crude oil reached a record high $ 90/bbl, Oil futures set records on concern over supplies from northern Iraq and Gold reached 27-year high on dollar weakness, higher oil price.

Posted by FR at 9:27 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.