Thread: Markets Trade on a Quiet Note

The global markets give out negative cues this morning. U.S. stocks plunged, with the Standard & Poor’s 500 Index losing the most in 13 months, after jobless claims increased and concern grew that Europe’s debt crisis is spreading. European stocks retreated for the fourth time in five days, led by a selloff in basic-resource companies, as uncoordinated attempts by policy makers to resolve the regions debt crisis unnerved investors. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index to a nine-month low, after U.S. jobless claims rose and concern grew European leaders will fail to contain the spread of the regions debt crisis. In commodities, Crude oil was poised for a third weekly decline as European leaders struggled to contain the regions debt crisis and reports cast doubts on the strength of the economic recovery in the U.S., the largest energy consumer. Gold dropped, and headed for its biggest weekly loss since December 2008, as investors sought to lock-in gains after the metals rally to a record a week ago. Copper led a decline in industrial metals, heading for its longest weekly losing streak in 21 months, on concern that Europe’s debt crisis may derail the global economic recovery, dimming prospects for metals demand. The Indian markets taking cues from its global peers started off on a weak note to trade in red this morning. All the sectoral and broader indices trade in red this morning with the main draggers being the Realty and Metal indices declining more than two and half percentage points backed by the Capital goods indices which declined two percentage points. Market breadth is negative with 400 advances against 1,998 declines. The Sensex trades in red at 16,308.03 declining 211.65 points or 1.28 percentage points. Nifty trades at 4880 declining 67.60 points or 1.37 percentage points.

Source: Dalal Street investment Journal.
www.dsij.in

There has been a great deal of upset in the indian market due to the situation in europe!now we are feeling the pinch more day by day...in fact,There is a fear psychosis due to the problems in Europe,said Motilal Oswal, chairman and managing director, Motilal Oswal Financial Services.

i dont know bad the situation would get and there might be some chance of it spilling over!

See here ,even the same thing got repeated yesterday!
The Indian markets once again mimicked the global markets that witnessed a terrific bounce back. The Sensex wiped out quite a bit of its Tuesday losses and closed up 365.36 points at 16,387.84. The Nifty crossed the 4,900-mark to close at 4,917.4, up 110.65 points.

Source Link:http://www.asianage.com/business/glo...pel-sensex-085