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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MARKET EYE-Indian shares gain; SBI, Sun Pharma up
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* The BSE index gains 0.21 percent, and the 50-share NSE index also rises 0.2 percent, after dropping to more than a four-week low on Tuesday and falling for five sessions out of six. * Investors are cautious ahead of the 2013/14 federal budget to be unveiled later this month, which is seen as a key test of commitments to shore up finance. * Foreign institutional investors can buy up to 49 percent shares in Infrastructure Developers Ltd and up to 30 percent in Radico Khaitan Ltd, the Reserve Bank of India said, raising the limits under portfolio investment scheme. * IRB Infra share gain 2.5 percent, Radico shares rise 3 percent. * Leading the rise: State Bank of India rises 0.7 percent on value buying, while Sun Pharmaceuticals up 0.9 percent on U.S. nod for cancer drug. (manoj.dharra@thomsonreuters.com; manoj.dharra.thomsonreuters.com@reuters.net)
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