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Asian stocks up after 'worst is over' (The Economic Times 24th Jan 2008)Asian share prices were mostly higher in volatile early trade on Thursday on hopes that the worst of this week's massive global selloff was over, dealers said. Wall Street roared back overnight after early losses to snap a five-day losing streak despite lingering fears of a US recession and another round of bleeding in European equities. Most Asian markets entered their second day in positive territory, although Hong Kong and Shanghai were mostly flat in early trade, as investors snapped up bargains and crossed their fingers that stability was returning. More
Dow soars near 300 points (The Economic Times 24th Jan 2008)US stocks snapped a five-day losing streak on Wednesday, with the Dow surging nearly 300 points on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses. The market also drew support from growing confidence that aggressive interest-rate cuts by the Federal Reserve could help stabilize the ecomony and support the beleagured banking sector. Shares of insurers Ambac Financial Group Inc and MBIA Inc, which backstop many of the riskier bets banks and their customers have made in credit markets, surged 63 per cent and nearly 36 per cent, respectively. More
FII sales Rs 3,022cr, DII buys Rs 1,292cr (Business Standard 24th Jan 2008)Foreign institutional investors (FIIs) were net sellers of Rs 3,021.54 crore (provisional) on Wednesday, according to data released by BSE. While FIIs made gross purchases of Rs 5,730.70 crore, gross sales totalled Rs 8,752.24 crore.Domestic institutional investors (DIIs) were net buyers of Rs 1,291.76 crore on Wednesday. While DIIs made gross purchases of Rs 2,669.63 crore, gross sales totalled Rs 1,377.87 crore.FIIs were net sellers of Rs 2,256.20 crore on Tuesday, January 22, according to data released by Sebi on Wednesday. While FIIs made gross purchases of Rs 7,749.20 crore, gross sales totalled Rs 10,005.50 crore. More
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