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Banking stocks drag markets down at the end

The Indian stock markets that have started the day rather flat have changed the course towards the red territory post mid-day. The Bank Nifty is down 2.56% today.

Oriental Bank of Commerce (OBC) is down 6.02%. IDBI is down 5.23%, Bank of India down by 5.02%. Bank of Baroda is down 4.87% while SBI is down 4.13%. Mild tremors are also seen on HDFC Bank and ICICI Bank today. Infact SBI, IDBI, PNB and HDFC feature in the Top 10 losers on the Nifty today.

Outside the banking stocks, other major losers include Unitech, Power Grid, Suzlon, Reliance Petrol, Idea and Tata Power.

Add commentMay 27th, 2008

Asian markets largely in green

The Asian markets are trading largely in the green territory. Nikkei 225 is up 1.26% while other markets except for the Shanghai Composite, KLSE Composite and NZSE 50 are trading in the green. Trouble times continue to haunt the Shanghai Composite as the index is down over 3.13% today. Japanese Government Bond 10-yr yield hits 9-mth high before auction. Inflation fears are everywhere and very prominently visible in the Asian markets.

1 U.S. dollar = 103.252452 Japanese yen
1 U.S. dollar = 0.634517766 Euros
1 U.S. dollar = 42.6093996 Indian rupees

Add commentMay 27th, 2008