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Domestic equities that opened sharply lower on Tuesday following the failure of the US financial bailout package, bounced back on reassurance from the financial regulators.
Marketmen were quite resigned to a massive fall, but back-to-back statements from the Finance Minister, the Reserve Bank of India, and the SEBI Chairman on the health of the domestic markets averted that.
Tracking the overnight US markets, which fell 8 to 9 per cent, the Sensex fell 442 points to a low of 12,153 immediately upon opening. However, it ended the day with a gain of 2 per cent. The Nifty closed 1.8 per cent higher.
The Indian markets are well-regulated and was merely suffering the consequences of global turbulence, the Finance Minister said. The SEBI Chairman assured the public that there were no settlement issues at the exchanges; while the RBI issued a statement to say that ICICI Bank and its subsidiaries are well-capitalised, setting at rest various rumours about the private bank’s financial health.
ICICI gained 8 per cent and the BSE Bankex 5 per cent over the day.
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Finance minister Chidambaam says india is a sound market and assuring the investors frequently..... he has been doing so from the sensex at 20000 levels.... what is his answer to the stocks quoting at 25% of its year peaks at he moment....
In indian markets,many investors lost more than 75% of money invested within a year.... does he mind this as a sound....?!
The regulator sebi says there is no panic in markets now,yes investors already lost in many panic and nervous sessions with the sensex jurney from above 20000 to below 13000.... so,where is the need of extra panic at the moment....
Investors alreay dipped in to the deep waters,there is a little scope for extra chillness....
Everybody knows that both sebi and FM did not do their best in the stock market related matters to protect investors money in the previous years.... now commenting something just for formality sake.......
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Global crisis will impact India: PM --- Press Trust Of India / Marseilles October 01, 2008, 0:16 IST
Hinting that India cannot be untouched by the financial turmoil in the US, Prime Minister Manmohan Singh said the nation’s capacity to finance development would be affected and exports compromised if major economies went into recession.
In an interview to leading French daily Le Figaro, Singh, who is on a two-day visit to France, said he wanted India and China to be part of solution-finding exercise to the global financial turmoil.
“We live in an interdependent world and the fate of all countries is related to the international financial system. Our value markets are opened to the world and, if they are affected, this will affect our capacity to finance our development,” he said.
“The proposal of President Nicolas Sarkozy (for a summit to examine the consequences of the financial crisis) is fundamental,” Singh said adding India was a potentially significant player but not a decisive actor
v.krishnamoorthy...
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Scripting a new era in bilateral ties, India and France on Tuesday signed a landmark agreement on civil nuclear cooperation that covers supplyof reactors and atomic fuel in the first concrete step to bring New Delhi back into the nuclear mainstream after 34 years of isolation.
"We expect to finalise agreements with other European partners too" on civil nuclear cooperation, Prime Minister Manmohan Singh said after holding talks with President Nicolas Sarkozy at the Elysee Palace here.
France is the first country to open nuclear commerce with India after the 45-member Nuclear Suppliers Group (NSG) granted a waiver to New Delhi on September six. The Indo-US nuclear deal is awaiting Congressional nod and an agreement on it between the two countries is expected to be inked soon.
"Today we have added a new dimension to our strategic partnership by signing an inter-governmental agreement on civil nuclear cooperation," Singh said after the Indo-France Civil Nuclear Cooperation Agreement was signed in the presence of the two leaders by Atomic Energy Commission Chairman Anil Kakodkar and French Foreign Minister Bernard Kouchner.
The agreement will form the basis of wide ranging bilateral cooperation from basic and applied research to full civil nuclear cooperation including reactors, fuel supplies, nuclear safety, radiation and environment protection and nuclear fuel cycle management.
Forinformation,with regards
rvk41...
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Yes, there may be a blood bath today....never mind, we all investors have already lost 70% value of our stocks but selling at this juncture in panic would certainly keep you out of your future.....out of market. so dear collegues....dont ever think to sell yr holding.....it will rebound from 3600/3300 and that is very sure...trust in our economy and think the US bailout amount of 700 billions. The FII\\`s have invested 6 billion in Indian market but they are dictating our market...if we get 5% of that amount in our growing market...what would be then....the market may touch the sky and sensex may be near to 35000....so dont panic and be quite...watch the drama which is not going to last longer and sure we will get back our hard earned money. Think it seriously, be silent and do nothing...only watch silently….this is the mantras of this hour....
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The current Emergency Economic Stabilization Act vote tally comes at 207 for the plan, 226 against, with one vote remaining. A total of 218 votes were needed to pass the vote. House members can still change their vote, and as a result the number of yes votes did tick a few points higher.
Democrats voted 141 for, 94 against. Republicans voted 66 for, 132 against.
All three of the major indices hit multi-year lows. At session lows, the Dow, Nasdaq and S&P 500 were down 6.3%, 6.7% and 7.2%, respectively. The major indices currently post massive losses, although they have recovered quite a bit from the knee jerk reaction decline.DJ30 -487.49 NASDAQ -128.85 SP500 -68.31 NASDAQ Adv/Vol/Dec 540/1.37 bln/2333 NYSE Adv/Vol/Dec 191/705 mln/2642 ...
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U.S. Lawmakers Push To Finalize A Deal To Create A $700 Bln Govt Fund To Buy Bad Debt as well as Halt The Financial Crisis....
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The Indo-US nuclear deal has moved into the last lap clearing a major hurdle when the House of Representatives approved a legislation on it that will now go to the Senate before the two countries can implement the civil nuclear agreement.
After a lot of drama and suspense, the House passed the Bill on an unusual extra day of sitting on Saturday with bi-partisan support but a considerable number of Democrats were still opposed to it.
The Berman Bill H R 7081, named after Howard Berman, a Democrat strongly opposed to the deal on non-proliferation grounds and who converted only a couple of days ago, was adopted with 298 voting for and 117 against. One lawmaker merely voted present.
The deal just needs the backing of the Senate which may vote next week on the issue. But the Senate vote appears to be a formality given the fact that an identical Bill has already been approved by its Foreign Relations Committee earlier this week.
Though a Congressional consent eluded the deal when Prime Minister Manmohan Singh and President George W Bush when they met on Thursday, the House approval came hours before the Prime Minister left the US shores winding up his five-day visit on his way to France.
Manmohan misses memorable birthday gift
For information,with regards
rvk41...
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You are absolutely right that it is disturbing to bear about such incidents. This must be prevented....
In reply to:
Sacked employees beat CEO to death
Posted by :
karen
Really guys don't you think it is disturbing to hear of such incidents... i mean the fact that they went on a rampage is fine.. but why did they kill the man... this needs to be prevented.. do let me know what you think. 
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40crore valuation? Can Info Edge at least reveal how big this company is and whether it is profitable? Why are they quiet? Looks like this is going to further decrease the profits of Info Edge in the short-term...
In reply to:
Info Edge invests Rs 200mn in eTechAces
Posted by :
MMB Messenger
Info Edge, India's Largest Internet Company, announced an investment of INR 200 Million towards a 49% equity stake in eTechAces Marketing and Consulting Private Limited, a company in the business of distributing financial products online. The investment would be made in tranches based on performance milestones.
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Info Edge, India's Largest Internet Company, announced an investment of INR 200 Million towards a 49% equity stake in eTechAces Marketing and Consulting Private Limited, a company in the business of distributing financial products online. The investment would be made in tranches based on performance milestones....
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Farmers should given first preference.. if not compensation should be given according to market value (not as govn value,which is very less)...
In reply to:
Farmers protest against Mangalore SEZ, allege harrassment
Posted by : MMB Messenger
The special economic zone (SEZ) battle has now reached South India. The Mangalore SEZ is threatening the livelihood of around 20,000 people. It's also threatening their way of life and that can hardly be compensated. The farmers are now fighting back.
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The special economic zone (SEZ) battle has now reached South India. The Mangalore SEZ is threatening the livelihood of around 20,000 people. It's also threatening their way of life and that can hardly be compensated. The farmers are now fighting back....
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Avaya GlobalConnect, one of India’s leading business communications solutions providers, has welcomed the relaxation of regulations for the BPO industry by DoT....
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Poll
Udayan's Market Outlook
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Situation grim for Indian markets | |
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| Udayan Mukherjee, Stocks Editor, TV18 | ||
 |
Popular Boarders 7days| 244 | |
| 167 | |
| 105 | |
| 105 | |
| 100 | |
Top Tracked 7days| 705 | |
| 694 | |
| 459 | |
| 434 | |
| 351 | |
Prolific Boarders 7days| 418 | |
| 324 | |
| 289 | |
| 247 | |