www.infystocks.co.uk

20 October 2008

Previous Week Board Meetings this Week

Previous Week Board Meetings this Week
A rally that was seen in the first two days of the week fizzled out latter with the key benchmark indices tumbling to their lowest level in over two years on global recession worries. BSE Sensex crashed below psychological 10,000 marks on Friday, 17 October 2008. Aggressive cut in cash reserve ratio (CRR) by the Reserve Bank of India and pledges by policymakers around the world to pour cash into troubled banks had boosted markets at the beginning of the week. The BSE 30-share Sensex lost 552.50 points to 9975.35 The S&P CNX Nifty fell 205.60 points to 3074.35 in the week. Foreign institutional investors (FIIs) have sold shares worth Rs 46,661.20 crore in the calendar year 2008 so far (till 16 October 2008).



Concerns about a global recession may continue to have impact on the domestic bourses which have tumbled in a global equities rout in the past few days. Investors also await the mid-term monetary policy review by the Reserve Bank of India (RBI) due on 24 October 2008. Index heavy weight Reliance Industries (RIL) will declare its Q2 September 2008 results on 23 October 2008. Reliance Industries has 13.64% weight age in Sensex so it may guide the index movement in the next week.

by erectusplus at 19:09:00 |