Indian stock market report (October 7, 2008, Tuesday)

October 7, 2008

Asian markets fell sharply this morning, after deep losses in the US markets. The Strengthened yen (JPY) pushed the Nikkei dropped below the 10,000 level for the first time since December 2003. The RBI and Sebi have announced few steps to reduce the liquidity crunch in India. While RBI reduced CRR by 50bps, Sebi eased norms on Participatory Notes (PNs). While we may expect a relief rally on account of these measures, we believe profit taking may happen at higher levels, leading to the indices ending lower than yesterday??™s levels.

READ MORE HERE:

http://www.stockmarketsreview.com/news/indian_stock_market_morning_report_keynote_capitals_20081007/

http://www.stockmarketsreview.com/news_india/

Posted in Uncategorized