Tuesday, April 22, 2008
Equities seen quiet tracking weak global cues
MUMBAI: Equities are seen passive Tuesday tracking declines in global
markets. But stock specific action on the back of corporate earnings
is likely.
The Dow and the S&P 500 ended lower on Monday, hurt by a drop in bank
shares after disappointing results from Bank of America Corp and
National City Corp fueled worry about banks' profitability.
Asian stocks fell, led by banks and technology companies, mirroring US
markets. Japan's Nikkei declined 1.5 per cent, Hang Seng slipped 0.92
per cent and Straits Times lost 0.3 per cent.
Back home, on Monday, Bombay Stock Exchange's Sensex ended at
16,739.33, up 258.13 points or 1.57 per cent from Thursday's close.
The 30-share index touched an intra-day high of 16,778.59 while the
low was 16,611.41.
National Stock Exchange's Nifty closed at 5037, up 78.6 points or 1.59
per cent. It touched a high of 5,053.40 and low of 4,955.90 during the
day.
Foreign institutional investors were net buyers of equity worth Rs
169.66 crore, while mutual funds net bought Rs 111.58 crore, according
to provisional data on NSE.
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