Archive for October 20th, 2008
Asian and European markets are trading positive on Monday with the almost all major Asian indices managed the day in green. The European markets that have just opened are showing the same level of enthusiasm.
Hang Seng topped the Asian charts with a jump by 768.80 points or 5.28%. Other top Asian indices of the day include Nikkei 225, All Ordinaries and Straits Times all of which closed their day up by at least 3%.
The up trend, according to analysts, is because of the return of the credit confidence in the markets. The Indian central bank, the Reserve Bank of India has slashed the repo rate so as to shield its economy. The South Korean Government says it is ready to do more after the bailout package so as to protect its own economy.
The MIBTel Index is up 322 points or 1.95%. AEX General. OSE All Share are both up over 4%. The FTSE 100 is up 1.96%
1 U.S. dollar = 48.5389 Indian Rupees
1 U.S. dollar = 101.9056 Japanese Yens
1 U.S. dollar = 0.7422 Euros
1 Ounce Gold = $792.90
1 Barrel Crude Oil = $73.61
Monday, October 20, 2008 6:05:24 PM IST
October 20th, 2008
Draft offer documents of the following Mutual fund schemes are submitted to SEBI for approval and are now put on SEBI website for public view and commenting:
Bharti Axa Tax Advantage Fund
October 20th, 2008
Scheme Name
HDFC FMP 18M October 2008 (2)
Objective of Scheme
The investment objective of the Plans under the Scheme is to generate regular income through investments in Debt / Money Market Instruments and Government Securities.
Scheme Type
Close Ended
Scheme Category
Income
New Fund Launch Date
20-Oct-2008
New Fund Earliest Closure Date
31-Oct-2008
New Fund Offer Closure Date
31-Oct-2008
Indicate Load Separately
Entry Load (Direct Applications and Applications routed through any Distributor / Agent / Broker) : Nil Exit Load : In respect of each purchase / switch-in of units, an Exit Load of 2% is payable if units are redeemed / switchedout before Maturity / Final Redemption Date. No Exit Load is payable on Maturity / Final Redemption Date.
Offer Price (Rs.)
10
Minimum Subscription Amount
Wholesale Plan Rs. 1,00,00,000 Retail Rs. 5000
October 20th, 2008
While the All Ordinaries surged up by 2.18% while the Seoul Composite is down 2.42%. Nikkei is up 0.5% as exports numbers came out on expected lines
The Asian markets are taking a mixed morning on Monday. The All Ordinaries is up 2.18%.
On the other hand, the Seoul Composite is down 2.42%. The rest of the markets are either marginally in the green or marginally in the red wiith no clear direction yet.
The Japanese Nikkei is up 0.5% as their export numbers have come up on expected lines.
Other Asian markets such as the India’s Bombay Stock Exchange, Jakarta Composite and KLSE Composite are yet to open for the day.
1 U.S. dollar = 48.4801 Indian Rupees
1 U.S. dollar = 101.3890 Japanese Yens
1 U.S. dollar = 0.7466 Euros
1 Ounce Gold = $794.00
Monday, October 20, 2008 7:38:50 AM IST
October 20th, 2008