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Wall St slips on rate cut doubts; ADRs drop (Business Standard 6th Feb 2008)The Wall Street ended in negative zone for the third straight day yesterday after Federal Reserve officials cast doubt on the outlook for more interest cuts. The markets are expecting another 50 basis points rate cut in March. The Dow Jones industrial average slipped 65 points to 12,200. The Nasdaq shed 31 points at 2,279.Indian ADRs, too, ended weak. VSNL plunged over 3% to $24.20. Sterlite, Satyam, Wipro and Patni Computers tumbled over 2.5% each to $19.70, $23.71, $11.59 and $13.55, respectively. More
Tech view: Global cues a major determinant (Business Standard 6th Feb 2008)The markets opened with a gap down and closed off the intraday lows as some bear covering was seen on declines. The traded volumes were marginally higher as the intraday volatility and wider range saw broader trader participation.The market breadth was weak as the combined exchange figures were 1,719 : 2,241 and the capitalisation of breadth was also negative on a commensurate basis, with the figures being Rs 8,465 crore : Rs 11,595 crore. More
FII net sales Rs 486cr, DII net buys Rs 357cr (Business Standard 6th Feb 2008)Foreign institutional investors (FIIs) were net sellers of Rs 485.94 crore (provisional) on Wednesday, according to data released by BSE. While FIIs made gross purchases of Rs 2,252.16 crore, gross sales totalled Rs 2,738.10 crore.Domestic institutional investors (DIIs) were net buyers of Rs 357.32 crore on Wednesday. While DIIs made gross purchases of Rs 1,368 crore, gross sales totalled Rs 1,010.68 crore. More
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