US markets finished marginally lower last week. Major indices posted their first back-to-back weekly losses since late June. European markets ended in the green.
Back home, panic gripped the street on Friday as key indices saw their biggest intraday fall in two years as the Nifty tanked over 230 points even breaking below the 5,500 mark in intra-day trade. The Sensex shed over 750 points to tumble way below the 19,000 mark. Rupee ended at an all-time closing low of 61.65 to the dollar. Kaushik Basu, the chief economist of World Bank says that the concern regarding the QE is a change from abundant liquidity to more normal times.
Meanwhile, Asian markets were cautious in morning trade today.
In the latest from the National Spot Exchange's (NSEL’s) settlement crisis, sources indicate that NSEL investors met with Jignesh Shah. He assured NSEL that he will repay all investors and seeks help from investors for repayment.
The prime minister on Saturday released the fourth volume of the history of the RBI covering 1981-1997. The PM told CNBC-TV18 that the current situation is not comparable with 1991 and that the best is yet to come from the RBI.
Stocks in news
Sesa Goa said that all-share merger of Sterlite and Sesa Goa has become effective with Anil Agarwal appointed as the chairman of Sesa Sterlite.
ICICI Bank has hiked rates on some deposits by 25-75 bps.
Andhra Bank has hiked base rate by 25 bps to 10.25 percent and has increased the BMPLR by 25 bps to 14.50 percent.
The Goa senior division court has granted an interim injunction against any coercive action by lenders of Kingfisher Airlines (KFA) in respect of the company's property in Goa, leased to United Spirits .
In a CNBC-TV18 exclusive, sources indicate that Oberoi Realty promoters will sell 3.5 percent stake via offer for sale (OFS). The share sale will be to aid company comply with minimum public shareholding norms.
US
Stocks finished marginally lower in what was a lacklustre trading day, extending their losses for a third-straight session. Major indices posted their first back-to-back weekly losses since late June. The Dow posted its biggest weekly decline this year. The CBOE volatility index ended below 15.
The US 10 year bond yields rose to two year highs @ 2.83 percent.
On the economic data front, July housing starts in the US increased 5.9 percent to an annual rate of 896,000. Permits to build homes rose 2.7 percent in July to a 943,000-unit pace a tad less than expected. Meanwhile the University of Michigan August Consumer Sentiment Index fell to 80.0.
Europe
Markets closed higher after a weak start to the day, despite continued market worries about the end of the Federal Reserve's bond-buying program.
Currency
The euro was trading above 1.33 to the dollar. The dollar index stood at 81.30 levels. Back home, the rupee fell to a fresh record low against the dollar as dealers ignored fresh measures to provide support.
Commodities
Brent crude last week posted the biggest weekly percentage gain in six weeks as turmoil in Egypt and Libya stoked worries about oil supply security. It was trading above USD 110 a barrel. From precious metals space, gold traded near two-month highs supported by further inflows.
Back home, panic gripped the street on Friday as key indices saw their biggest intraday fall in two years as the Nifty tanked over 230 points even breaking below the 5,500 mark in intra-day trade. The Sensex shed over 750 points to tumble way below the 19,000 mark. Rupee ended at an all-time closing low of 61.65 to the dollar. Kaushik Basu, the chief economist of World Bank says that the concern regarding the QE is a change from abundant liquidity to more normal times.
Meanwhile, Asian markets were cautious in morning trade today.
In the latest from the National Spot Exchange's (NSEL’s) settlement crisis, sources indicate that NSEL investors met with Jignesh Shah. He assured NSEL that he will repay all investors and seeks help from investors for repayment.
The prime minister on Saturday released the fourth volume of the history of the RBI covering 1981-1997. The PM told CNBC-TV18 that the current situation is not comparable with 1991 and that the best is yet to come from the RBI.
Stocks in news
Sesa Goa said that all-share merger of Sterlite and Sesa Goa has become effective with Anil Agarwal appointed as the chairman of Sesa Sterlite.
ICICI Bank has hiked rates on some deposits by 25-75 bps.
Andhra Bank has hiked base rate by 25 bps to 10.25 percent and has increased the BMPLR by 25 bps to 14.50 percent.
The Goa senior division court has granted an interim injunction against any coercive action by lenders of Kingfisher Airlines (KFA) in respect of the company's property in Goa, leased to United Spirits .
In a CNBC-TV18 exclusive, sources indicate that Oberoi Realty promoters will sell 3.5 percent stake via offer for sale (OFS). The share sale will be to aid company comply with minimum public shareholding norms.
US
Stocks finished marginally lower in what was a lacklustre trading day, extending their losses for a third-straight session. Major indices posted their first back-to-back weekly losses since late June. The Dow posted its biggest weekly decline this year. The CBOE volatility index ended below 15.
The US 10 year bond yields rose to two year highs @ 2.83 percent.
On the economic data front, July housing starts in the US increased 5.9 percent to an annual rate of 896,000. Permits to build homes rose 2.7 percent in July to a 943,000-unit pace a tad less than expected. Meanwhile the University of Michigan August Consumer Sentiment Index fell to 80.0.
Europe
Markets closed higher after a weak start to the day, despite continued market worries about the end of the Federal Reserve's bond-buying program.
Currency
The euro was trading above 1.33 to the dollar. The dollar index stood at 81.30 levels. Back home, the rupee fell to a fresh record low against the dollar as dealers ignored fresh measures to provide support.
Commodities
Brent crude last week posted the biggest weekly percentage gain in six weeks as turmoil in Egypt and Libya stoked worries about oil supply security. It was trading above USD 110 a barrel. From precious metals space, gold traded near two-month highs supported by further inflows.
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