The HDFC stock was up 8% in the past fortnight, as the housing finance company re-launched its...
The stock markets posted strong gains in the fortnight. The ML Mega-cap and ML Large-cap...
The local market is likely to witness a cautious opening on the back of negative global cues. The US markets closed mixed overnight on earnings concerns while the Asian markets were also mixed in early trade as the initial enthusiasm surrounding Bank of Japan’s economy-boosting moves began to fade. The SGX Nifty was down 11 points to 6,200 from its previous close of 6,211. The government is set to announce its weekly inflation numbers, which is likely to give some direction to the Indian market.
The market opened firm on Wednesday on positive announcements from various central banks. Investors took the opportunity to book profits after the indices touched their fresh 33-month highs in early trade. Choppy trade led the indices lower in post-noon trade but a decent recovery ensured a closing well above the day's lows. The Sensex added 135.37 points (0.66%) to close at 20,543. The Nifty settled at 6,186, up 40.65 points (0.66%).
Wall Street settled mixed on Wednesday on earnings concerns. Technology stocks led the decline on Nasdaq led by Citrix Systems and Equinix Incorporated. Besides, Morgan Stanley downgraded some tech companies to ‘underweight’ on worries about a slowdown in Asia. In economic news, the ADP Employer Services report said private payrolls fell by 39,000 in September, underscoring concerns about the weak labour market.
The Dow rose 22.93 points (0.21%) to 10,967. The S&P 500 was down 0.78 points (0.07%) to 1,159. The Nasdaq fell 19.17 points (0.80%) 2,380.
Asian markets were mixed as the initial euphoria surrounding Bank of Japan’s morale-boosting measures faded away. In a key development, Chinese Premier Wen Jiabao said his country will stick to its policy of gradually increasing the currency’s flexibility and hit out at European Union leaders for joining hands with the US to pressure the Chinese government.
The Hang Seng was up 0.25%, Nikkei 225 was up 0.12% and Taiwan Weighted gained 0.19%. On the other hand, Jakarta Composite was down 0.15%, KLSE Composite was down 0.08%, Straits Times was down 0.38% and Seoul Composite was down 0.27%. The SGX Nifty was down 11 points to 6,200 from its previous close of 6,211.
Credit offtake from banks grew by 19.2% during the one-year period ended 24 September 2010, up from 12% in the year-ago period.
As of 24th September, credit offtake from banks stood at Rs35.25 lakh crore. As of 25 September 2009, bank credit for the 12 month period was Rs 29.57 lakh crore, the Reserve Bank of India (RBI) said on Wednesday.
Meanwhile, in its annual monetary policy the RBI has estimated that credit would grow by 20% this fiscal.