Daily News from Bse,Nse Stock Markets of India |IPO Information
March 19th, 2008 — Global Markets
Fed cuts rates by 75 bps to 2.25% points to restore confidence in the nervous financial markets and boost the ailing economy. US Treasury Secretary Henry Paulson had admitted earlier on Tuesday that the US economy is facing a “sharp decline”.
The Fed rate cut is the sixth time the central bank has lowered rates since September 2007 in a bid to boost the economy, which is reeling from the credit crisis triggered by a slump in the US housing market.
December 12th, 2007 — Global Markets
The much awaited and expected rate cute by the Federal Reserve has been announced yesterday, and the Fed cut the rate by 25 basis points. US Stock Markets reacted and the markets crashed around 3 per cent expecting bigger discount rate from Fed. Indian ADRs closed down with Satyam down 7 per cent, WIPRO and VSNL going dwown by 5 per cent, Banks like ICICI and HDFC down 2 to 3 per cent.
Asian Markets also reacted, with Hang Seng down over 3 per cent , Nikkeia down 295 points, Taiwan Index down over 170 points. It would be interesting to see how Indian Stock Markets would react to the Fed rate cut.
August 18th, 2007 — Global Markets
Sliding global markets got lifeline late on Friday when the US Federal Reserve cut its discount rate, or the rate at which it lends to member banks, by 50 basis points to 5.75 per cent.
The Fed said it did so as “the downside risks to growth have increased appreciably.
August 16th, 2007 — Global Markets
Domestic stocks are likely to face another challenging session tomorrow after Asian stocks slumped to their three-month lows on Wednesday and following cues from the US, which indicated a slowdown in consumer spending.Investors are just very, very worried about what’s happening with subprime and unwinding of yen carry trade.
South Korea’s Kospi was the biggest loser, skidding 7.3% to 1,685.12, as the stock market reopened for trading after a national holiday.
August 13th, 2007 — Global Markets
India is relatively less exposed to the aftermath of the US subprime mortgage collapse crisis that has sent global stock markets into a tizzy.
But it is nevertheless a wakeup call for a number of players who think that markets go only one way, cautions former IMF chief economist Raghuram G Rajan. Incidentally, Mr Rajan is tipped to head a high-level committee on Indian financial sector reforms.
Mr Rajan said domestic companies may find it harder to access external commercial borrowings (ECB) though they may not be directly impacted if international investors unwind their equity holdings in listed companies. There could be some re-pricing of Indian assets as well.