Selling pressures push Indian markets down, US markets marching towards red
January 18th, 2008
Nifty registered huge short positions. Reliance Industries, NTPC, ICICI Bank, Sterlite Industries, Bajaj Hindustan, Balrampur Chinni, IDBI, Lanco Infra all closed in the red. Overall the Sensex is down 8.5% during the week. Emerging Markets too are down. Brazil fell 12%, Philippines and the US Markets too fell drastically during the week.
Reliance Power IPO sucked out a lot of liquidity in the market. The IPO is one of the most welcomed IPO in recent times by both short term and long term investors.
Wipro released its numbers today registering the third weak quarterly growth for the IT major – blame the slow down of the US economy.
GE announced its Q4 Earning numbers today. The US Markets opened positive but soon lost the cheer. Almost all major US indices are slowly dipping into the red. Russell 2000 is down by over 1.23%
Entry Filed under: Equity Markets, BSE, NSE, Closing Bell, Global Markets
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