MarketS DailY - Nov 19

US Markets

Dow 8,425 151.17
Nasdaq 1,483 1.22
S&P 500 859 8.37

Europe

London 4,103 -29.29
Paris 3,150 -31.72
Frankfurt 4,516 -41.49

Asia at 9 30 AM
Tokyo 8,139 -189.70
Hong Kong 12,824 -91.74

SGX Nifty 2670 -20

Commodities

Oil
$54.42 0.03
Gold
$732.70 -9.30

Market Outlook:

Yesterday Market witnessed selling pressure at higher levels, Markets are not sustaining any upmoves. its important that nifty shows some strength in coming days in order to hold it from retesting the lows made in october. US markets are trading close to the lows made on oct 27th.


News Today

* CEOs of GM, Chrysler and Ford appealed in dire language for taxpayers to help their industry.

* Wholesale inflation in U.S fell by a record 2.8%.

* US Home builders' confidence in the market plunged to a record low.

* Indian Govt slaps 5% import duty on steel in a protectionist measure.

* Asian Banks are latest in laying off employees to cut costs. HSBC and Mitsubishi UFJ announce lay off's .

* India FM asks realty , auto makers to cut down prices. Industry plays down any possibility of price cuts.

* RIL is trying to raise around Rs 5000 crores from LIC to meet its cash requirements.