MarketS DailY - Sep 16

US Markets:

DOW

503.99

-4.41%

10,917.51

NASDAQ
81.36

-3.60%

2,179.91

Asia at 9 AM:
NIKKEI 11,641.07 -573.69 -4.70%
HANG SENG 18,282.41 -1,070.49 -5.53%

SGX NIFTY : 3,928.0 -122.0

Gold: 780.8 -6.90 -0.88%
Silver: 1,084 -29 -2.60%

News Today:

* Wall Street sees worst day in 7 years since 9/11 attacks , with Dow down 504 points.

* All world markets are trading in deep red.

* Event to watch out for will be the FED meet tonight. Rate cuts are expected.

* Another Company to join in Lehman's list could be AIG. AIG, the largest insurance company in US. Some of the stocks they own MindTree, NIIT Tech, AIA Engineering, IPCA Labs, Unity Infra, Sun Pharma, Federal Bank, Bharti Shipyard, Kolte Patil, Indo Tech and Gokaldas Exports.

* Fed asks Goldman and JPMorgan Chase to raise $70 billion for AIG survival

* Crude Oil settles at $94 levels.

* US Industrial Out put sees steepest drop since Katrina.

* Rupee weakened further to $46 levels. FII money being pulled out of markets.

* Indian Banks say the US crisis will not affect domestic proceedings, although sentiments will be affected.