Asian Markets

Sensex plunges as dollar firms up; ITC leads FMCG slide

Mumbai: Key equity benchmarks plunged 2 per cent on Monday, the biggest single day fall in more than a year, with brokers attributing the crash to profit taking after the recent run up. Signs of a recovery in the US economy also made investors jittery as they feel a portion of global liquidity flows could ease as the Federal Reserve starts tightening its monetary policy.

The BSE Sensex closed at 19691.67, down 430 points over the previous close. The Nifty closed at 5980.45, down 127 points over the previous close. FMCG, metal and capital goods shares were the worst performers, as investors targeted stocks that had run up the most in the recent rally.

ITC topped the list of frontline losers, shedding over 5 per cent. Sterlite, GAIL, BHEL, Larsen & Toubroa, Tata Motors, Bharti Airtel and Tata Steel were the other big losers, falling 3-4 per cent.

Economic data released on Monday was a mixed bag with consumer price index-based inflation easing for the second straight month, but trade deficit for April jumping due to higher gold imports....more    

Asian markets rise to a 4-year high as Dow hits another record

Japan's Nikkei share average rose above 12,000 on Thursday for the first time in 4.5 years, with risk appetite supported by a record high on Wall Street and the prospect of Japan soon adopting an aggressive reflationary monetary policy. The Nikkei rose 1.1 per cent to 12,060.96 by mid-morning, its highest level since September 2008. ...  

Italy faces political deadlock after election results

Italy faced political deadlock on Tuesday after a stunning election that saw the anti-establishment Five-Star Movement of comic Beppe Grillo become the strongest party in the country but left no group with a clear majority in parliament. "The winner is: Ingovernability" was the headline in Rome newspaper Il Messaggero, reflecting the stalemate the country would have to confront in the next few weeks as sworn enemies would be forced to...  

Global markets decline on deadlocked Italy election

Asian shares took their lead from overnight plunges in global equities to fall on Tuesday as an apparently inconclusive election outcome in Italy raised fears of a resurgent euro zone debt crisis. Italy's centre-left coalition will win a majority in the lower house of parliament but the upper house will be deadlocked, the Interior Ministry said on Tuesday after almost all votes were counted. No party or coalition won a...  

Asian shares rally, dollar remains weak

Tokyo: All eyes will be on the markets on Friday after the Sensex hit a six-month high at 18,000 on global cues on Thursday. Asian shares rose to a four-month high on Friday while the dollar remained weak against other major currencies after the US Federal Reserve announced an aggressive new stimulus to drive job creation in the US economy. The Fed's move will likely accelerate the risk-positive momentum at...  

Sensex ends 56 points up; GAIL, JSPL top gainers

Mumbai: Bucking weak global cues, the Sensex on Tuesday closed 56 points higher at 17440.87 on buying in Reliance Industries, SBI and ICICI Bank in the second half of trading. The BSE benchmark index, which had lost 45 points in the previous session, dropped by over 75 points in choppy trade earlier on Tuesday but bounced back in the last two hours to close 56.47 points higher, or 0.32 per...  

Sensex ends 26 points lower in volatile trade

Mumbai: After dropping nearly 200 points, the Sensex on Friday staged a smart recovery tracking strong cues to close just 26 points lower as investors looked beyond the deficient monsoon and ECB not announcing immediate steps to tackle Eurozone debt crisis. In line with global stocks, Indian shares tanked with the BSE benchmark index opening 60 points lower. It touched the day's low of 17,026.97 soon after as selling pressure...  

Asian stocks rise after Greek vote eases fears

Tokyo: Asian stock markets climbed early on Monday after elections in Greece eased fears of global financial turmoil. Tokyo's benchmark Nikkei 225 index was up 2.1 per cent, at 8,749.31. Hong Kong's Hang Seng rose 1.8 per cent to 19,578.13. Australia's S&P/ASX200 rose 1.6 per cent to 4,123.30. South Korea's Kospi rose 2.2 per cent at 1,899.49 as relieved investors snapped up South Korean exporters. Japanese vehicle makers soared on...  

Asia stocks tumble, Tokyo hits 28-yr low

Bangkok: Asia stock markets took a beating on Monday as signs that the US economic recovery might be shifting into reverse sent investors fleeing. A report on US hiring and employment in May pushed stock indexes to their biggest declines of the year on Friday. The Dow Jones industrial average fell 275 points, its biggest one-day decline since November. The dismal report came on the heels of earlier data that...  

Global shares recover, but fear on Greece remains

Tokyo: Asian shares on Thursday recovered a bit of the ground lost in the previous day's sell-off, but investors found no reason to bet on risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.5 percent on short covering, after sliding more than 3 percent - its biggest one-day drop in six months...  

Asian shares steady after sell-off

Tokyo: Asian shares steadied on Thursday from the previous day's sell-off, but investors found no reason to bet on risk amid deepening turmoil in Greece and fears of contagion to other stressed euro zone economies. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent, after sliding more than 3 percent for its biggest one-day drop in six months on Wednesday. The index hit a new 4-month low...  

Sensex posts biggest monthly gains since Sept 2010

Mumbai: The market posted biggest ever monthly gains since September 2010, rising 11.5 per cent led by highest monthly inflow of foreign money since November 2010. The Nifty closed tad below the 5200 mark while the Sensex rallied over 17000 level quite smartly. Sharp appreciation in rupee, value buying by institutional investors in most beaten down sectors in last year, RBI's hint to cut rates soon after 50 basis points...  

Sensex ends flat; metals shine, IT falls

Mumbai: The market consolidated throughout the session on Wednesday, though it managed to hold 4850 level on the Nifty quite well. Wednesday's trend was completely in line with global cues. Reliance Industries, banks, metals and realty stocks helped the market to retain Tuesday's gain. However, technology stocks took beating ahead of Infosys' third quarter numbers. The broader indices outpaced the benchmarks led by retail, aviation, realty and education stocks. The...  

Will Asian equities rebound in 2012?

Mumbai: The risks from Europe's debt crisis and a global slowdown have left investors in Asia reeling in 2011, but analysts tell CNBC, Asian equities will outperform and push global markets higher in 2012 because of further policy easing and better valuations. Asian stocks measured by the MSCI Asia ex-Japan index have fallen around 15 per cent in 2011, compared to the SandP 500, which is roughly unchanged for the...  

Sensex gains 158 points, Nifty ends above 4700

Mumbai: Short covering in the late trade pushed the Sensex 1 per cent higher on Thursday. It was supported by capital goods, oil & gas, private banks, auto and technology sectors. The Nifty clawed back to above the 4750 quite nicely on expiry day after trading in a range of 4650-4690. The index was up 50 points, to close at 4,756.45. Meanwhile, the 30-share BSE Sensex gained 158.52 points at...  

Asian stocks plunge on Europe debt crisis setbacks

Bangkok: Setbacks in Europe's efforts to isolate a debt crisis before it blows up into an all-out recession sent Asian stock markets tumbling on Thursday. Japan's Nikkei 225 index fell 2.1 per cent to 8,569.79 while Hong Kong's Hang Seng index plummeted 4.1 per cent to 19,189.30. South Korea's Kospi dropped 2.6 per cent to 1,858.58 and Australia's S&P ASX 200 lost 2.7 per cent to 4,230.80. The losses in...  

Asian shares rise as concerns over Italy ease

Tokyo: Asian shares rose and the euro steadied on Wednesday after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms to contain the euro zone's sovereign debt crisis from spreading. MSCI's broadest index of Asia Pacific shares outside Japan rose 0.8 per cent, while Japan's Nikkei stock average opened up 0.8 per cent. The euro held firm early in Asia as...  

Asian shares fall after Greece coalition deal

Tokyo: Asian shares struggled on Monday, with investors still nervous despite the formation of a new Greek unity government intent on avoiding imminent debt default. MSCI's broadest index of Asia Pacific shares outside Japan was down 0.1 per cent, while Japan's Nikkei stock average .N225 fell 0.5 per cent. US stock index futures opened higher after Greek Prime Minister George Papandreou and opposition leader Antonis Samaras agreed on a new...  

Greek tragedy hits world, but Sensex climbs

Mumbai: The 50-share NSE Nifty rose 0.5 per cent after a recovery in Asian markets on Wednesday. Oil & gas, FMCG, Anil Dhirubhai Ambani Group stock, select technology and financial stocks led the support. The BSE Sensex gained 86 points at 17,567 and the NSE Nifty jumped 26 points to 5,283.65. Despite market's poor performance in the past two days, Portfolio Manager on Wednesday, G-20 meet at Cannes on November...  

Asian markets slip on global jitters

Tokyo: Japan's Nikkei share average fell on Tuesday after the failure of US trading firm MF Global Holdings and fresh worries about Europe raised concerns on the global economic outlook, prompting profit-taking. Panasonic skidded 3.8 per cent after it said on Monday that it expects to post an annual net loss of 420 billion yen ($5.5 billion), its biggest in a decade, as it cut unprofitable businesses deeper and faster...