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State Bank of India
FE Editorial--watch monday market closely
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Leave it.Tracked by: 0 Boarder
FE Editorial : Monday mantra
Mon, Oct 13 02:38 AM
No Monday market will be watched as closely as today`s.
India`spolicymakers will be watched too. They have done well so far. But volatile times induce error. So let`s note that one of the most remarkable facts this crisis has shown is that the global stock market can absorb a trillion dollar loss in one day while the global banking system cannot absorb the same loss over two years. This is demonstration of the importance of a market-dominated financial system. A large banking system is a strategic vulnerability, particularly after taking into account the toxic interplay between banking and politics which can lead to loan waivers, loans to cronies, bailouts, resource pre-emption by the government, directed credit and PSU banks. A market dominated financial system is safer in that the worlds of finance and politics are much more likely to be kept apart.
In Russia, Indonesia, Ukraine, Hungary, Pakistan, etc., the stock markets have closed down for some period of time in this crisis. Regulators in the US and the UK lost their nerve, and did some silly things on short selling, which were reversed in a few days. In India, the fundamental attributes of a sound market have been satisfied. In the worst of pain—on Friday evening—there were both buyers and sellers on the screen. On Friday, the top three derivatives at NSE were Nifty (Rs 34,000 crore), rupee-dollar (Rs 976 crore) and ICICI Bank (Rs 947 crore). At closing time on Friday, on the near month ICICI Bank futures, there were buyers at the top five prices for 6,825 shares and sellers at the top five prices for exactly the same amount. There was no payments crisis, despite substantial price fluctuations. The market was working as it should: providing a venue for both positive and negative views to be expressed, and solving out for an equilibrium price. The policy establishment in India has fared well in this crisis. Knee jerk proposals for banning short selling have been rejected; RBI responded with alacrity by cutting CRR; Sebi plodded onwards with structural reforms by rescinding the mistakes about PNs made in October 2007. Last week was a trial by fire, and India`s exchanges, and the economic policy leadership, has come out looking good by international standards. Now the immediate task lies in rapidly solving the liquidity squeeze by setting up a proper operating framework for monetary policy, and undertaking fundamental reforms of the FII framework.
v.krishnamoorthy...
Yahoo gives a warning for Monday trading
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Markets to crash furtherMon, Oct 13 02:38 AM
Indian equity indices, which observed its worst weekly performance in the recent past, last week are likely to hammer down further on the back of carnage in the global markets. If the dealers in the market are to be believed then there are no positive indications in the market which may boost the sentiments of the market.
Weak closing of the US markets might also mirror in the domestic markets for the first two days of the next week, say traders. Absence of any major trigger on the home front, the domestic markets is expected to look west and at its Asian counterparts for the direction next week.
Amitabh Chakraborthy, president equities at Religare Securities said, "At this juncture, I don`t see any positive triggers in the markets which can make a positive rally. Foreign Institutional Investors (FII) is continuously selling and they would continue doing it for some more time. In the coming days, we might witness further selling pressure in the markets, which may take Sensex further down and we might see the downside correction of other 20% in the coming days."
On Friday, last trading day of previous week, we saw Sensex down by 800.51 points or 7.07% and had ended the day at 10,527.85 points. The broader S&P CNX Nifty of National Stock Exchange (NSE) lost 233.70 points or 6.65% and had closed the day at 3,279.95 points.
However, dealers in the markets say that, Cash Reserve Ratio (CRR) cut by the Reserve Bank of India (RBI) by 150 basis point will infuse over Rs 60,000 crore in to the banking system, which might boost the sentiments of the investors in the coming days.
"Global markets are playing havoc and no one is sure how much more pain is left in the market. Apart from that intense selling pressure in the last couple of days in the domestic market is worrisome. Investor confidence has been shattered after the massive crack that the market witnessed last week," said an analyst from the leading broking house.
Analysts will also be watching out for more results, prime amongst them would be the HDFC Bank results this week
v.krishnamoorthy...
A view of RBI , presented at IMF meet
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In the capital market, FIIs have pulled out 10.05 billion dollars net in 2008 so far, while they have net pumped in 2.15 billion dollars in the debt market, according to SEBI figures.
Subbarao said emerging economies, which do not have direct or significant exposure to stressed financial instruments and troubled financial institutions are experiencing the indirect impact of the crisis.
He said that the impact is "by no means insignificant or trivial. Indeed, it could intensify in the months ahead."
this is gist of what RBI Governor said in IMF meet in USA as seen in the press in USA.
All other details may be seen in the Indian press in a few hours time.
V.Krishnamoorthy
Folsom/USA...
Sbi down target=999....
Posted by : vkk43Tracked by: 0 Boarder
very nicely said. SBI cannot hold at current market rate in this market....
In reply to:
Sbi down target=999....
Posted by : marketman
There may be buying from lic/uti in this counter with the instructions of govt.... except these institutions,no body will be interested in the stock at preent price during this powerful bear season.... it is just like promoters increasing the stake in the company.... fiis may exit in comfortable manner becuase of this support from govt institutions.... fiis must be saying thanks to govt for the arrangement of their smooth exit from the counter.... 
SBI Short Term Below 1100
Posted by : vkk43Tracked by: 0 Boarder
So long SBI has been maintaining itself. In case of furtehr weakness in the market, possibly it will not b able to hold itself....
In reply to:
SBI Short Term Below 1100
Posted by :
cleverboy_m
SBI Short Term Below 1100
SBI Short Term Below 1100
Posted by : cleverboy_mTracked by: 0 Boarder
SBI Short Term Below 1100...
Sbi down target=999....
Posted by : marketmanTracked by: 0 Boarder
There may be buying from lic/uti in this counter with the instructions of govt.... except these institutions,no body will be interested in the stock at preent price during this powerful bear season.... it is just like promoters increasing the stake in the company.... fiis may exit in comfortable manner becuase of this support from govt institutions.... fiis must be saying thanks to govt for the arrangement of their smooth exit from the counter.......
In reply to:
Sbi down target=999....
Posted by : marketman
Still people are having profits in the counter.... sell it without hesitation.... realise the cash in present difficult situation....
10% per Month. No Taxes. No Loss. Only Profit. Guaranteed.
Posted by : manish9724Tracked by: 0 Boarder
No Loss. Only Profit. Guaranteed.
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This was worst loss in week. If you continue to invest in such market then you will end up commiting suicide like Americans. Just trust somebody who gives you guarantee of returns. Inflation will go up. You will not be able to save much in future. Its your family and your children depend on you. Brokers will not help you. Banks will never help you. No mutual fund is reliable in this falling market. Only Shareking can assure you trust and returns. Take experience rather than negative thinking. If you trust market then you are stupid. Challenge yourself. Take decision now. How long you will live life like beggars. Brokers get brokerage when you make losses..but what you get is loss of money, peace of mind. Your Investment. Our commitment. Visit our site today shareking.co.cc...
US Govt. wants to have some shares in Banks
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US to take stake in banks, first since Depression
WASHINGTON: The US government will buy an ownership stake in a broad array of American banks for the first time since the Great Depression, Treasury
Secretary Henry Paulson said late on Friday, announcing the historic step after stock markets jolted still lower around the world despite all efforts to slow the selling stampede.
Separately, the US and the globe`s other industrial powers pledged to take "decisive action and use all available tools" to prevent a worldwide economic catastrophe.
"This is a period like none of us has ever seen before," declared Paulson at a rare Friday night news conference. He said the government programme to purchase stock in private US financial firms will be open to a broad array of institutions, including banks, in an effort to help them raise desperately needed money.
Do they want to have controlled econonomy through banks? already Iceland hs initiated. UK is said tobe considering to go on the line, perhaps after the G-7 meet.
v.krishnamoorthy ...
don`t buy sbi now,it will go below 700 in a month
Posted by :
acupuncturedrTracked by: 0 Boarder
Don`t buy SBI now,purely its price are fixed by LIc,to improve the confidence of invester as a command from FM.
It has more NPA,and its housing loan to IT employees also will go as NPA.
So don`t buy now....
SBI ranks low in employee productivity--RBI
Posted by : vivekvishalTracked by: 0 Boarder
Probably, thats the reason that SBI is still picking up lonely on the Sensex, while others have fallen flat.......
In reply to:
SBI ranks low in employee productivity--RBI
Posted by : sambala
SBI moves up in global ranking
Financial Express
Friday, October 03, 2008
Even as the world financial markets have seen either the total disappearance or the loss of positions of top banks and financial institutions due to ongoing subprime crisis, it is now time for the Indian state owned banks and financial institutions to scale heights in global markets. State Bank of India, the country`s largest bank and GIC Re, the sole official reinsurer, have improved their global rankings. SBI with over Rs 7 lakh crore assets has improved its ranking from 70th to 57th position, according to the latest annual top 1,000 bank list prepared by the UK based leading banking publication The Banker. Also in the latest list of top 40 global reinsurers prepared by the prominent rating agency, Standard & Poor`s, GIC Re with assets over Rs 36,000 crore, has moved up from 22nd to 16th position. The global list is prepared on the basis of global premium earned by the reinsurers. GIC Re which has emerged as the leading reinsurer in the Afro-Asia region has improved its ranking over Japanese reinsurance majors like Mitsui Sumitomo , Sompo Japan Insurance and now has aggressive plans to expand into different parts of the world. `Our international business contributes 27 % to our revenues and we expect growing it to 50% in next five years ,` said Yogesh Lohiya, chairman & managing director, GIC Re. The company`s total premium in 2007-08r was Rs 9,300 crore. However in the list of top 1000 banks, ICICI Bank , country`s second largest commercial bank has fallen by three notches from 147th to 150th. during 2007-08. Similarly state owned Bank of Baroda, has fallen by 21 notches to 280 from 259th position during the same period. HDFC Bank, after the merger with Centurion Babnk of Punjab, has moved up hugely from 336th to 219th postion. The other bank which have moved up in the rankings ladder are Punjab National Bank (250, 255), Oriental Bank of Commerce ( 348, 378), Bank of India (373, 411), Union Bank of India (431, 496), Corporation Bank(498, 507). Together there are 22 Indian banks which have been featured in the top 1,000 banking list . The 1,000 global banking rankings are based on the definition of Tier 1 capital as defined by Basel`s Bank for International Settlement (BIS). The object of the survey is to show the bank`s soundness in relation to the Basel requirement of a minimum Tier 1 capital on risk weighted assets of 4% and minimum ratio of capital to risk weighted assets of 8%.
SBI ranks low in employee productivity--RBI
Posted by : sattmarketTracked by: 0 Boarder
15-40000 thak ki share tradeing investment for 1 year
ko tax benift diya like mutual fund and lic
only for selected 40-50 shares shares of A -B
class companies ,
market mein india se hi 72 lakhs crore rs aa sakte ha in 2 years ...
In reply to:
SBI ranks low in employee productivity--RBI
Posted by : avi8989
Accha......That is okay.....You are always welcome to open a account in icici. It would be really great......Your money will always be safe and SECURE. It will never close down......
SBI ranks low in employee productivity--RBI
Posted by : avi8989Tracked by: 0 Boarder
Accha......That is okay.....You are always welcome to open a account in icici. It would be really great......Your money will always be safe and SECURE. It will never close down.........
In reply to:
SBI ranks low in employee productivity--RBI
Posted by : Leave it.
To radhika nandlal
When I posted the message, I just imagined how will it be functioning if all the subsidiaries are merged as desired by our F.M and his ministerial colleagues ?. Would you please just share your randam thoughts if that so happens?.
I showed the news item here in US to some friends. They all say one thing in common. "my mother is always telling that father has gone to the bank (SBI ) and you can dial tomorrow by this time to know the matter"--because of time difference.
But all are ready to subscribe, if the news that the GOI is to collect foreign currency deposits is correct, ofcourse through St.bk. of India and to place our deposits through them.
v.krishnamoorthy
Folsom/USA
SBI ranks low in employee productivity--RBI
Posted by : vkk43Tracked by: 0 Boarder
There seems to be no solution to this problem....
In reply to:
SBI ranks low in employee productivity--RBI
Posted by : radhika_nandlal
SBI is a terrible customer oriented bank and most PSU banks are terrible. Had i been the PM ,i would have appointed spying agents to check on customer interaction in these banks.
Horrible bank. The attitude of govt employees in India is like that of Hitler.
SBI ranks low in employee productivity--RBI
Posted by : Leave it.Tracked by: 0 Boarder
To radhika nandlal
When I posted the message, I just imagined how will it be functioning if all the subsidiaries are merged as desired by our F.M and his ministerial colleagues ?. Would you please just share your randam thoughts if that so happens?.
I showed the news item here in US to some friends. They all say one thing in common. "my mother is always telling that father has gone to the bank (SBI ) and you can dial tomorrow by this time to know the matter"--because of time difference.
But all are ready to subscribe, if the news that the GOI is to collect foreign currency deposits is correct, ofcourse through St.bk. of India and to place our deposits through them.
v.krishnamoorthy
Folsom/USA...
In reply to:
SBI ranks low in employee productivity--RBI
Posted by : radhika_nandlal
Simmam,
Excellent post.
I request everyone to rate simmam`s post so the kotak gang can NEVER erase the message from the front page.... besides its important for some statebank employed boarder to see this message and pass it on to his colleagues. I request all those having accounts with state bank to send a copy of all messages in this thread to state bank executives.
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