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Friday, March 09, 2012
Sensex swings in listless trade…Ends almost flat
After suffering heavy losses in the previous trading session, the Indian stocks ended almost unchanged at the end of a volatile session. Trading was fairly choppy throughout the day with the main stock indices swinging back and forth in a trading range.
The undertone remains fragile and uncertain in the wake of the Congress party's poor performance in the recently concluded assembly elections. Most market players are reluctant to take risks at the moment given that the Indian markets are closed for Holi on Thursday, and the outlook for world markets has deteriorated of late.
A little optimism!
"Optimism is essential to achievement and it is also the foundation of courage and true progress." - Nicholas Murray Butler.
The trading screens have been seeing more red lights flickering after witnessing an almost uninterrupted seven-week ‘risk on’ rally. So where do we go from here? It is unlikely to be a one-way street in the immediate future given the event risk involved ahead of the RBI policy move and the Union Budget. The outcome of assembly polls has not been favourable and expectations on reforms getting back on track have diminished.
Some may yet see scope for a positive surprise from the RBI chief and the FM. Whether they oblige or not is anybody’s guess. It will be wise not to take any chances before the two big events next week.
Flat-to-positive opening likely
The Indian markets may open the session on a flat to positive note. MCX will become India's first exchange to be listed today
Headlines for the day
IATA suspends KFA from clearing house; oil cos stop fuel supply
LIC wants to exit MTNL via pvt placement
10-yr-old tax evasion cases may reopen
L&T board meets today to discuss Hexaware acquisition
New telecom policy on Cabinet table in March
India's budget deficit to remain more vulnerable: Moody's
Events for the day
MCX will list today
Thursday, March 08, 2012
Indian markets shut due to 'Holi' festival
The Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), Foreign Exchange, Commodity Futures and wholesale commodity markets will remain closed on Thursday on account of the 'Holi' festival.
All the wholesale commodity markets, including bullion, were shut today on account of ‘Holi’.
As far as Wednesday's session is concerned, the BSE Sensex closed at 17,145, down 28 points. It earlier touched a day's low of 17,008 and a day's high of 17,239. It opened at 17,127.
MCX to list on BSE on 9th March
It will be first listed exchange in the country
Shares of Multi Commodity Exchange of India (MCX), India's biggest commodity exchange by turnover, will be listed on BSE shortly, a circular issued by BSE today, 7 March 2012 showed. The BSE circular further informed that listing date will be notified to the members by a separate notice. MCX will be listed on 'B" group of BSE under scrip code 534091. The scrip will not be listed on the NSE.
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