| Stocks down across the board
THE stock market remained in the red at noon, with the blame spread across all the local sectors and following a slight dip from Wall Street. At 12pm AEST, the benchmark S&P/ASX200 index had dropped 44.4 points to 6723.3 and the All Ordinaries had fallen 42.6 points to 6738.6. On the Sydney Futures Exchange, the December share price index contract was down 64 points to 6757 on a volume of 12,314 contracts. Intersuisse equities director Andrew Sekely said the market had moved unpredictably yet again, with no clear indication as to why it had fallen. "What we've seen is a market that, in the same way that it sometimes surprises on the upside, it's certainly surprised me to see it down in the way that it's fallen,'' he said. "It's worth mentioning that, from its worst level, it's recovered ...
Sensex down 209 pts, closes at 18,153
Mumbai, Jan 28: A late recovery in auto and bank shares on Monday helped the Bombay Stock Exchange 30-share index rebound from early lows, but still ended down 209 points as market continued to confuse investors with its unpredictable movements.
Bank stocks came of initial lower levels on reports that a surprised rate cut by the US Federal Reserve last week has increased possibility of a repo rate cut by the Reserve Bank of India in its quarterly review of monetary policy to be released tomorrow.
The late bounce aided the BSE barometer recover by more than 700 points from its intra-day low of 17,443.29.
The Sensex ended the day at 18,152.78, a fall of 208.88 points, or 1.14 per cent, from Friday`s close of 18,361.66.
A smart rise in REL, Maruti Suzuki, HDFC, Bajaj Auto, Mah&Mah, and ICICI Bank also mitigated the Sensex`s losses.
Clean Elections No Guarantee of Strong Democratic Society, Global ...
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Home remittances rise to $3.066bn during 1H
ISLAMABAD: Ministry of Finance (MoF) has assured the President Pervez Musharraf that there is no need to revise downwards annual tax collection target of Rs 1.025 trillion.
A senior official at Federal Board of Revenue (FBR) told Daily Times on Thursday that this...
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European Indexes Advance
The FTSE 100 closed firmly higher as Wall Street traded in the black after stronger-than-expected durable goods data raised hopes of a Fed rate cut tomorrow. At home, PRUDENTIAL (+2.76%) reported a 21% rise in total group insurance APE to GBP2.874bn in 4Q and said the outlook remains positive. ALLIANCE & LEICESTER (-3.86%) fell after saying losses in its Treasury investment will be GBP185m. TUI TRAVEL (-0.42%) said current trading is encouraging with strong demand across all markets and synergies will be 50% higher at GBP150m. BSKYB (+3.30%) must reduce its stake in ITV (+1.94%) to below 7.5%, the UK govt ruled. If sold at current prices, BSkyB could take a hit amounting to GBP255m, about 40% of this year's predicted profits, wrote The Times. Miners rebounded after being hit by the power shortage in South Africa.
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