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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A trader is reflected onto a glass panel with an illustration showing the nature of the stock market during the announcement of the annual budget at the Motilal Oswal trading floor in Mumbai February 28, 2013.
Credit: Reuters/Vivek Prakash
Reuters Market Eye - Indian shares are seen recovering losses sustained in the run-up to and after Thursday's budget as the market's focus shifts back to earnings and the central bank's rate meeting on March 19.
Clarification on the tax residency issue, which in part led to the budget day selloff, is also seen calming overseas investors. (Read Chidambaram's clarificatihere)
Also on watch, aviation stocks as the regulatory body on foreign investment meets on Wednesday to consider a proposal by AirAsia Bhd (AIRA.KL) to invest in an airline joint venture with the Tata group.
On the global front, a host of central banks meet next week including ECB, BOJ, BoE and RBA on policy.
KEY FACTORS/EVENTS TO WATCH
Tues: Feb Services PMI at 10:30 a.m. IST
Wed: Money Supply data at 3 p.m. IST
(Reporting by Abhishek Vishnoi)
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