The Indian stock markets are trading in the green territory this morning. Nifty is at 5051.50 holding the 5050 mark. CNX It is at 4101.45 while Bank Nifty is at 7432.10
Private sector banks are the worst hit amongst the banking stocks this morning. HDFC Bank lost slipped 3.68%. ICICI Bank, Axis Bank and Union Bank are down over 1.2%. SBI , Bank of India, OBC, Bank of Baroda ad Punjab National Bank are marginally in the red.
Telecom stocks are having a mixed day today. It may be recalled that the Department of Telecommunucations has announced the guidelines for the Mergers & Acqusitions in the telecom space.
Himachal Futuristic Communication is down 0.30 and is trading at Rs. 21.30
April 23rd, 2008
The Asian markets are trading volatile in the early hours of opening bell and are slowly gaining strength. Shanghai Composite is up over 1.89% while the rest of the markets are moving marginally between the red and green territories.
Earlier the US Stock Markets had a relatively bad day. The NASDAQ lost 31.1 points down 1.29%. Dow Jones Industrial Average is down 104.79 points and is down 0.82%. The S&P 500 is down 12.23 points or 0.88%.
The most declining stocks on the NASDAQ today are UAL Corporation, Omnicell, Inc., Netflix, Inc., Trubion Pharmaceuticals, Inc. and Bruker Corporation amongst others.
Netflix (NFLX) is down despite a positive Q1 results announcement. Traders and Investors seems to be cautious after Netflix said that increased investments in digital downloads would cut their earnings this year. The script closed at 30.00 (down 9.32 points; down 23.70%) and has a P/E of 30.87.
April 23rd, 2008