Markets Nosedive
Sensex loses 388 points, Nifty ends below 6,000 on Fed, China concerns
The Nifty posted its biggest percentage fall in a year on Thursday, as the prospect of an end to the U.S. stimulus programme and a weak China manufacturing survey sparked concerns foreign investors would end their recent buying spree. Full Article
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* Nifty futures on the Singapore Exchange gain 0.5
percent. The MSCI-Asia Pacific index, excluding Japan
is up 0.09 percent.
* Asian shares steadied in quiet pre-holiday trade after a slump
late last week, but markets have become more jittery about the
risk of the United States failing to avert a fiscal crisis.
* Foreign investors bought 1.15 billion rupees of stocks, while
domestic institutions bought 2.58 billion rupees of stocks on
Friday, when India's BSE index fell 1.09 percent.
* Despite the global uncertainty, traders are optimistic on
India shares given the central bank's stance over rates and on
hopes from the next budget.
* Shares are expected to remain volatile this week as markets
head into the last derivatives expiry of 2012 on Thursday.
(manoj.dharra@thomsonreuters.com)
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