Dark clouds on Dalal
Tokyo extends the slide, down 12 pct in two days
Dalal Street is likely to gap down after a major rally that took traders by surprise on Monday as Japan's Nikkei is trading down nearly 6 pct on the second consecutive day.
Asian stocks suffered for the second day this week as the fallout from Japan’s strongest earthquake last week clouded the economic outlook and intensified concern that corporate earnings will suffer. The Bank of Japan on Tuesday offered to pump 5 trillion yen ($61 billion) into the banking system, continuing its huge fund injection aimed at easing market jitters amid escalating damage from the earthquake.
News Bytes
* Vishal Retail sells retail & wholesale biz for Rs 70 cr
* Educomp bags Rs 67.93 cr order from Maha govt
* PFC to raise Rs 5,300 cr from infra bonds
* Hotel Leela to sell stake, raise Rs. 600 cr
* Nippon to buy 26% stake in Reliance Life
* Rio Tinto claims support for Riversdale bid, but Tata Steel mum
* NDTV set to revive alliance with STAR
* Suzlon promoters sell shares worth Rs 178 cr
* Wockhardt stock drops as court allows lenders’ plea
* Videocon promoters up stake in firm to over 21%
* SAIL, Japan’s Kobe in talks for steel plan
Markets - Look great after initial jitters
While the reception area looks bad the interiors of the floor will have a different look. This is what traders and investors will experience today. After a gap down, watch the upmove later in the day.
