New Delhi: Finance Minister P Chidambaram on Thursday sought to assuage the stock market, after it declined by over 350 points, by asserting that there was no need for any "nervousness" and the participants should read the situation correctly rather than be influenced by external developments.
"There is no need for any kind of nervousness. I am looking forward to June and the second quarter with much greater confidence. I think the Indian market should read the situation correctly rather than being influenced by something which is happening elsewhere", he said.
The Minister was reacting to sudden crash in Indian stock markets in response to a statement by Federal Reserve Chairman Ben Bernanke in which he had talked about scaling back of stimulus with improvement in economic conditions. The BSE Sensex slipped by 365 points to 19,697.44 points during the intra-day trade. The markets later recovered.
"We have been looking at what is happening in the market. We think that Bernanake's statement has been misunderstood or misinterpreted. If we read the statement carefully, he has clearly indicated that he will continue with quantitative easing in the foreseeable future at about USD 85 billion a month or so," Chidambaram said....
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08:41 PM, May 23, 2013
With US stock market indices more than doubling since the financial crisis and the American housing market recovering, there are increasing hopes on Wall Street that a wider "wealth effect" could set in. ...
08:30 AM, Mar 06, 2013
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...
09:27 AM, Feb 26, 2013
Stocks on Monday suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country's economic reforms triggered worry that Europe's debt problems could once again destabilize the global economy. The decline marks the biggest percentage drop for the benchmark Standard & Poor's 500 Index since November 7, and drove the S&P down to its lowest close since January 18. The CBOE Volatility...
09:14 AM, Feb 26, 2013
Bangalore: Government has information that terror groups have been investing money in Indian stock markets, Home Minister Sushil Kumar Shinde said on Friday. Asked by reporters about "intelligence information" that Pakistan-based Jamaat-ud-Dawa is investing money in Indian stock exchanges, the minister said he had spoken at the Interpol meeting in Rome that the Government has "some information" that some terror groups were engaged in such activities. Shinde, however, said he...
11:11 PM, Nov 16, 2012
Rome: Concerned over terror groups investing in stock markets through spurious companies, India on Tuesday sought international cooperation to deal with it. "It is a cliche to say that terror-funding is the lifeblood of terrorism. Credible intelligence suggests that terrorist outfits are investing in stock markets through spurious companies, setting up fictitious businesses and laundering money," Home Minister Sushil Kumar Shinde said, addressing the Interpol General Assembly in Rome. Shinde...
03:06 PM, Nov 06, 2012
Mumbai: American brokerage firm JP Morgan on Friday said it remains "positive" on the Indian stock markets going into the second half of the year even as it stated that the government is yet to delivery on key reforms. Saying that the economic fundamentals have deteriorated in the recent past as the government has not been able to move ahead with reforms, JP Morgan in a report said, "The government...
10:41 PM, Aug 24, 2012
Facebook Inc has had a rocky initial public offering of stock. There were trading glitches on its first day of trading and concerns since then about Facebook's revenue potential. Facebook also is facing dozens of lawsuits from disgruntled shareholders. On Friday, its stock fell 50 per cent below its IPO price for the first time, a day after the expiration of a lock-up period, which has provided early investors and...
02:07 PM, Aug 18, 2012
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...
09:24 AM, Jun 04, 2012
New York: The S&P 500 closed above 1,400 for the first time since the 2008 financial crisis on Thursday as stocks resumed the upward climb that has produced a steady stream of gains this year. The benchmark index is up for six of the past seven sessions and is on target for its best week since early February. Financial stocks, which have dragged lately, led the day with the S&P...
09:20 AM, Mar 16, 2012
Mumbai: The BSE Sensex ended the special live trading session on a flat note as investors stayed away from the market ahead of state election results. The session, held today as the Bombay Stock Exchange (BSE) tested its Disaster Recover Site (DR), saw buying in select power, IT and banking stocks; while realty stocks came under selling pressure lower. Shares of EIH gained over 9 per cent after Reliance Industries...
11:49 AM, Mar 03, 2012
Mumbai: The Reserve Bank of India will use all available tools to stem a fall in the rupee if the currency's downward spiral escalates and will take steps to keep liquidity in the country's markets at comfortable levels, a deputy governor said on Saturday. The partially-convertible rupee has fallen around 16.5 per cent from a 2011 high in July as risk-averse investors flee emerging markets, increasing worries for a government...
02:34 AM, Dec 04, 2011
Paris: European leaders rushed on Monday to stop a rampaging debt crisis that threatened to shatter their experiment in a common euro currency and devastate the world economy as a result. In a measure of how rapidly the peril has grown, ideas unthinkable even three months ago were being seriously considered, including having sovereign nations cede control over their budgets to a central European authority. World stock markets, glimpsing hope...
01:36 AM, Nov 29, 2011
Singapore: Bullion gained 1.7 per cent on Tuesday, roaring to all-time highs for a second consecutive session as equity markets dived on growing fears of a global recession after last week's cut in the United States's credit rating. Stock markets in Asia plummeted and the Swiss franc held near a record high after investors fled riskier assets in a global sell-off ignited by fears that political leaders are unable to...
09:44 AM, Aug 09, 2011
Isreal's stocks fell by more than five per cent, others like the UAE stocks are also down up to six per cent. ...
12:13 AM, Aug 08, 2011
New York: The US stock markets closed on a flat note on Friday, after they witnessed wild swings, trading in a range of 400 points during the day. The Dow Jones industrial average ended the day up 61 points, or 0.5 per cent, at 11,444.68. The S&P 500 closed lower by a point, or 0.1 per cent, at 1,199. The Nasdaq composite index shed 24 points, or 0.9 per cent,...
12:07 PM, Aug 06, 2011
New Delhi: With fears of the world heading towards another financial crisis written all over global markets, the Indian market is not likely to be any safe from the carnage. However, in an interview with CNBC-TV18, portfolio manager, PN Vijay says that Friday maybe the 'last tough day' for investors. "I see some resolution, going forward from Fridays mayhem," he says. Vijay further says that right now no one is...
03:16 PM, Aug 05, 2011
Frankfurt: European policymakers tried to turn a more powerful fire hose on the euro zone debt crisis on Thursday but financial markets were unimpressed with their response. The European Central Bank resumed buying government bonds after a four-month break and announced new longer-term funding for liquidity-starved banks. But after a brief hiccup, Italian and Spanish bond yields continued their inexorable climb towards danger levels. The executive European Commission urged holidaying...
10:34 AM, Aug 05, 2011
New Delhi: The much-awaited Rs 8,000 crore follow-on public offer of Steel Authority of India (SAIL) is set to hit the capital market by the end of next month, a source close to the development said. "The FPO will hit the market by May-end. This is final," the source said on condition of anonymity. However, attempts to contact SAIL Chairman CS Verma went unanswered. The FPO of SAIL, in which...
02:46 PM, Apr 07, 2011
New York: A former Goldman Sachs Group Inc director accused of leaking confidential boardroom information has sued US regulators, saying they are trying to unfairly deprive him of a jury trial. Rajat Gupta is fighting civil charges that he tipped one-time hedge fund billionaire Raj Rajaratnam, the central figure in a sprawling insider trading case, about Warren Buffett's plans to invest in Goldman Sachs at the height of the financial...
08:42 AM, Mar 19, 2011
