MarketS DailY - Oct 07

US Markets:

DOW 369.88 -3.58% 9,955.50
NASDAQ 84.43 -4.34% 1,862.96

Asia at 9 AM:

NIKKEI 10,160.21 -312.88 -2.99%
HANG SENG Markets closed on holiday

SGX NIFTY 3669 +29

Gold: $864.00–0.25%–$2.20
Crude : $88.89+1.23%+$1.08

News Today:

* DOW tumbles below 10,000 for the first time in 4 years. Was down 800 points in intraday trade recovered towards close.

* Nikkei slips below 10,000 to a 5 year low.

* There is a possibility of a combined effort from all central bankers of the world to cut interest rates and inject liquidity across the system.
* Australia's central bank cuts its benchmark policy rate by a whole percentage point to 6.0%.

* The RBI has cut CRR by 50 bps, this move will release 20,000 crores into the banking system.

* SEBI has removed the curbs on P notes, a positive sign on the FII investors front.

* Rupee falls to lowest since early April 2003.

* BNP Paribas has given 12-month Sensex target at 9476.