Bull in a China shop

Don't take the bull by the horns, take him by the tail; then you can let go when you want to. - Josh Billings

A weak Wednesday is in store at start. Investors and traders are getting nervous given the wild swings being seen in the market.



Global markets are tumbling. To begin with the People's Bank of China has raised its benchmark interest rates by a quarter-percentage point. Reports suggest that China’s move may still lure more capital as higher rates could bring in speculative money from abroad into China.

US stocks weakened after reports that a group of bondholders are trying to force Bank of America to repurchase bad mortgages. The Dow Jones fell 1.5% with Bank of America leading the fall. The S&P 500 (SPX) and Nasdaq fell over 1.5% each.

Institutional support has helped the Coal India initial offering achieve subscription of 1.71 times with retail portion being 35% so far. Shares of Oberoi Realty will list today.

Results today include : Ashok Leyland, HCL Tech, Pidilite, Tanla, Yes Bank, Bombay Dyeing, Can Bank, Power Grid, Hind Zinc, IBulls Power and IB Real Estate