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Indian markets trading flat - January 9, 2007

Indian markets opened volatile this morning though declining stocks are ahead of the advancing stocks. Nifty is down marginally by about 0.22%. Bank Nifty, CNX 100, CNX Defty are all marginally in the red.

Bharti Airtel continues to be trading in the red at Rs. 968 levels while its peer Reliance Communications is cementing at above the Rs. 800 levels.

ICICI Bank which saw good trading interest for the last two trading sessions is in the red today. Corporation Bank and Axis Bank are trading in the green while Punjab National Bank, Canara Bank and Union Bank are down by over a percent.

IGate is surprising up 8% and has crossed the the de-listing price. IGate announced its results and hence the cheer in the stock price. IGate is expecting to complete its de-listing process by the end of January. Other losers in the first trades amongst the IT pack include HCL Insys, Global Tele and Financial Tech. Large cap IT stocks Infosys, Wipro, Satyam and TCS are marginally in the green.

Add commentJanuary 9th, 2008

US Markets close in red; Asian markets mixed

The US Stock Markets closed in the red. NASDAQ is down by 58 points. Dow Jones Industrial Average is down by about 238 points. S&P 500 is down 25 points while the NASDAQ 100 is down by over 2.41% slipping 47.11 points. This is the 8th day that NASDAQ is falling. Much of the downfall is attributed to the financial sector stocks. Even the heavy weight blue chip stocks felt the heat today. American Express Co. (AXP) down 2.9%, Citigroup Inc. is down 4%, and J.P. Morgan Chase (JPM) fell by 4%. Countrywide Financial Corp is the biggest loser with a drop of 17%.

on the other hand, the Asian markets opened in the red and took a recovery route though the markets are currently trading marginally in the red. All Ordinaries, Hang Seng, Nikkei 225, NZSE 50, Straits Times, Seoul Composite are all marginally in the red and taking a recovery course. Shanghai Composite, Jakarta Composite, KLSE Composite and Taiwan Weighted are in the green. The Japanese Government Bonds have hit a 1 month high.

Add commentJanuary 9th, 2008