In the US, markets gave back most of their afternoon gains as investors digested news that the Fed would be willing to provide 'additional accommodation' to the US economy.
The Federal Reserve left short-term rates unchanged, as expected. The central bank said they had no immediate plans to begin quantitative easing. However, Fed members indicated they are concerned about the economy's sluggish growth and low inflation, and are ready to provide support to the US economy. Here's a detailed report of how trade panned out on Wall Street.
And in economic data, US housing starts rose 10.5%, the biggest boost since November, to a seasonally adjusted annual rate of 598,000, which was more than expected. Meanwhile, August permits for new construction surged 1.8% to a 569,000-pace, after a 4.1% drop in July.
European markets slipped, though gains in construction stocks after strong US housing data limited losses. Meanwhile, the Asian markets were trading with moderate gains.
In the currency space, the dollar slipped broadly against major currencies, while the euro rallied more than 1% against the greenback, rising to a six-week high.
In the commodity space, fell for crude the fifth time in six days, wilting amid high oil inventories and the Federal Reserve’s continued concern about sluggish economic recovery. Gold, meanwhile, climbed to a fourth consecutive record high closer to 1,300 dollar mark.
Back home, for our markets, the two and half year-long wait was finally over. The markets continued their stellar run and the Sensex breached the all-important 20,000 mark in trade yesterday. The nifty too was in fine form, closing above 6,000 mark for the first time since January 2008. The broader indices however closed in the red. Here's what experts had to say about trade.
Levitt and Moros families have reached an agreement with Sun Pharma. The agreement facilitates immediate transfer of interest in Taro to Sun. Transfer in accordance with option agreement signed in May 2007.
Nord Imperial, the Russian subsidiary of Oil and Natural Gas Corporation (ONGC) has entered the fray to bid for the Trebs and Titov deposits, the largest un-allotted hydrocarbon fields remaining in Russia. Also, check out some other Stocks In News.
The Federal Reserve left short-term rates unchanged, as expected. The central bank said they had no immediate plans to begin quantitative easing. However, Fed members indicated they are concerned about the economy's sluggish growth and low inflation, and are ready to provide support to the US economy. Here's a detailed report of how trade panned out on Wall Street.
And in economic data, US housing starts rose 10.5%, the biggest boost since November, to a seasonally adjusted annual rate of 598,000, which was more than expected. Meanwhile, August permits for new construction surged 1.8% to a 569,000-pace, after a 4.1% drop in July.
European markets slipped, though gains in construction stocks after strong US housing data limited losses. Meanwhile, the Asian markets were trading with moderate gains.
In the currency space, the dollar slipped broadly against major currencies, while the euro rallied more than 1% against the greenback, rising to a six-week high.
In the commodity space, fell for crude the fifth time in six days, wilting amid high oil inventories and the Federal Reserve’s continued concern about sluggish economic recovery. Gold, meanwhile, climbed to a fourth consecutive record high closer to 1,300 dollar mark.
Back home, for our markets, the two and half year-long wait was finally over. The markets continued their stellar run and the Sensex breached the all-important 20,000 mark in trade yesterday. The nifty too was in fine form, closing above 6,000 mark for the first time since January 2008. The broader indices however closed in the red. Here's what experts had to say about trade.
Levitt and Moros families have reached an agreement with Sun Pharma. The agreement facilitates immediate transfer of interest in Taro to Sun. Transfer in accordance with option agreement signed in May 2007.
Nord Imperial, the Russian subsidiary of Oil and Natural Gas Corporation (ONGC) has entered the fray to bid for the Trebs and Titov deposits, the largest un-allotted hydrocarbon fields remaining in Russia. Also, check out some other Stocks In News.
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