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Market Cues: Global markets slide led by fall in US mkts; Dow ended down 367 pts at 13522; Nasdaq down 74 pts at 2725; EMs: Brazil down 3.7%

Monday, October 22, 2007

Global markets slide led by the fall in the US markets. SEBI says that, on Oct 18, FIIs net buy in equity were $ 31.2 million. SEBI had earlier reported the provisional sell figure of about $ 300 million for Oct 18. MFs net sell in equity were Rs 265.5 crore. NSE F&O OI was down Rs 2,397 crore at Rs 94,617 crore.

On Global front, US markets fell the most in 2 months; concerns about credit problems. Earnings heighten the concern about health of financial markets and economy. Dow ends down 367 points at 13522 and Nasdaq was down 74 points at 2725. Wall St sectors: Energy (-4.3%), Financial (-2.9%), Industrials (-2.9%). Fed Funds Futures pricing in a near 100% probability of 25 bps rate cut. US 2-year treasury notes rise most since the Sep 11, 2001. US 10-year note jumped 28 ticks, lowering its yield to 4.38%. CBOE Volatility Index was up 24.11% at 22.96. Top 5 US banks' profit totaled $ 18.7 billion for quarter, lowest in almost 4 years.

In Asia, Asian stocks slide on poor US cues, iShares MSCI EM Index down 4.28%. In emerging markets, Brazil was down 3.7% while Russia was up 0.3%. Crude oil was down almost 1% at $ 87.72/bbl. In currency market, Yen rose to 6-week high Vs dollar as G-7 shows concern about global growth . It appreciated by 1.10% to 113.82/$.

Posted by FR at 9:21 AM  

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