Equities seen higher on positive global cues (The Economic Times 21th Feb 2108)Equities are likely to see an upside backed by positive cues from global shores. Expectations of further US interest rate cuts overshadowed worries about inflation even as oil hit a record high above $101 a barrel, propelling markets higher across the world. US stocks rose on Wednesday as a strong profit outlook from Hewlett-Packard Co lifted technology shares and the Federal Reserve signaled its intention to keep cutting rates. The Dow Jones Industrial Average shot up 0.73 percent, Standard & Poor's 500 Index gained 0.83 per cent and Nasdaq Composite Index advanced 0.91 per cent. Asian stocks rose as a weaker yen boosted Japanese exporters driving Nikkei up 2.12 per cent. Hang Seng climbed 1.24 per cent and Straits Times advanced 1.05 per cent. Back home, indices declined Wednesday to their lowest close in a week as persistent worries about the global economy eroded confidence. More
Wall St rallies led by technology stocks (Business Standard 21th Feb 2108)Wall Street ended higher on Wednesday on the back of a smart rally in technology stocks. The Dow Jones industrial average gained 90 points at 12,427. The Nasdaq was up 21 points at 2,327.Indian ADRs ended on a mixed note. HDFC Bank advanced over 1% to $116.98. Wipro and Dr.Reddy's were the other major gainers at $11.59 and $13.86, respectively. More
Asian markets up; Nikkei gains 282pts (Business Standard 21th Feb 2108)Asian markets are mostly up this morning on the back of positive cues from the Wall Street.The Hang Seng has rallied 219 points to 23,809. The Nikkei has surged 282 points to 13,593.The Taiwan Weighted index has soared 108 points to 8,002. The Straits Times index has advanced 28 points to 3,054, and the Seoul Composite index has added nine points to 1,697. More
FIIs' net sell Rs 527cr in F&O on Wednesday (Business Standard 21th Feb 2108)The Foreign Institutional Investors (FIIs) were net sellers to the tune of Rs 527.15 crore in the futures & options segment on Wednesday.According to data released by the NSE, FIIs were net sellers of index futures to the tune of Rs 707.91 crore and bought index options worth Rs 177.41 crore. They were net buyers of stock futures to the tune of Rs 6.51 crore and sold stock options worth Rs 3.16 crore. More
Asian stocks up on rate cut hopes; commodities hot (The Economic Times 21th Feb 2108) Stocks rallied on Thursday as solid earnings and expectations of further US interest rate cuts outweighed worries about inflation even as oil hit a record high above $101 a barrel. Gold also hit a record above $945 an ounce, and silver touched a 27-year high, as funds poured into a wide range of commodities, betting they will outperform in an environment where growth is slowing and prices are rising. Data on Wednesday showed a faster-than-expected rise in US consumer prices last month and further weakness in the housing market there. "The US is entirely focused on the economic data that is coming out and we're getting revised forecasts for their economic growth in the downward trend," said Savanth Sebastian, equities economist at CommSec in Sydney. "(The Federal Reserve) will have to cut rates and the possibility of that is boosting sentiment." The weak housing market and problems in the credit market prompted the Fed to lower its 2008 US economic growth forecasts on Wednesday, with analysts interpreting comments as paving the way for further reductions in borrowing costs. Japan's benchmark Nikkei rose 2.1 per cent, trimming most of Wednesday's losses, while MSCI's index of other Asian stocks gained 1.2 per cent by 0247 GMT. More
Wall St rallies led by technology stocks (Business Standard 21th Feb 2108)Wall Street ended higher on Wednesday on the back of a smart rally in technology stocks. The Dow Jones industrial average gained 90 points at 12,427. The Nasdaq was up 21 points at 2,327.Indian ADRs ended on a mixed note. HDFC Bank advanced over 1% to $116.98. Wipro and Dr.Reddy's were the other major gainers at $11.59 and $13.86, respectively. More
Asian markets up; Nikkei gains 282pts (Business Standard 21th Feb 2108)Asian markets are mostly up this morning on the back of positive cues from the Wall Street.The Hang Seng has rallied 219 points to 23,809. The Nikkei has surged 282 points to 13,593.The Taiwan Weighted index has soared 108 points to 8,002. The Straits Times index has advanced 28 points to 3,054, and the Seoul Composite index has added nine points to 1,697. More
FIIs' net sell Rs 527cr in F&O on Wednesday (Business Standard 21th Feb 2108)The Foreign Institutional Investors (FIIs) were net sellers to the tune of Rs 527.15 crore in the futures & options segment on Wednesday.According to data released by the NSE, FIIs were net sellers of index futures to the tune of Rs 707.91 crore and bought index options worth Rs 177.41 crore. They were net buyers of stock futures to the tune of Rs 6.51 crore and sold stock options worth Rs 3.16 crore. More
Asian stocks up on rate cut hopes; commodities hot (The Economic Times 21th Feb 2108) Stocks rallied on Thursday as solid earnings and expectations of further US interest rate cuts outweighed worries about inflation even as oil hit a record high above $101 a barrel. Gold also hit a record above $945 an ounce, and silver touched a 27-year high, as funds poured into a wide range of commodities, betting they will outperform in an environment where growth is slowing and prices are rising. Data on Wednesday showed a faster-than-expected rise in US consumer prices last month and further weakness in the housing market there. "The US is entirely focused on the economic data that is coming out and we're getting revised forecasts for their economic growth in the downward trend," said Savanth Sebastian, equities economist at CommSec in Sydney. "(The Federal Reserve) will have to cut rates and the possibility of that is boosting sentiment." The weak housing market and problems in the credit market prompted the Fed to lower its 2008 US economic growth forecasts on Wednesday, with analysts interpreting comments as paving the way for further reductions in borrowing costs. Japan's benchmark Nikkei rose 2.1 per cent, trimming most of Wednesday's losses, while MSCI's index of other Asian stocks gained 1.2 per cent by 0247 GMT. More
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