On Wednesday, BSE Sensex closed with a loss of 188.86 points, or 0.99%, at 18,938.87, while the broad-based NSE Nifty closed at 5,617.55, down 80.6 points.
Broker`s Outlook
According to Anuj Anandwala, analyst, KJMC Capital Services, there are no pointers in the market to show where it is headed. Due to F&O expiry on 29th Nov, volatility is expected in the market. One should trade cautiously at this point of time, he recommended.
U.S. stocks advanced on Wednesday as Federal Reserve official hinted that the central bank may lower interest rates again.
The NASDAQ Composite Index advanced 3.46%, to 2,662; the Dow average rose by 2.55% to 13,289.
Asian markets opened on a positive note on Thursday (Nov. 29, 2007), on speculation that the US Federal bank will cut interest rates. Toyota Motor Co. and Samsung Electronics surged on anticipation that lower borrowing costs will increase the demand for cars as well as semiconductors.
Japan`s benchmark index Nikkei added 361.02 points, or 2.38%, to trade at 15,514.80.Hong Kong`s Hang Seng advanced 955.61 points, or 3.49%, to trade at 28,326.85.China`s Shanghai Composite added 26.70 points, or 0.56%, to trade at 4,830.09.South Korea`s Kospi advanced 46.27 points, or 2.52%, to trade at 1,880.96.
Crude oil prices fell on Wednesday (November 28), as the government reported an increase in supplies at the NYMEX delivery terminal in Cushing, Okla., which is closely watched by traders as a benchmark of oil inventory tightness.
Light, sweet crude for January delivery plunged USD 3.80, to settle at USD 90.62 a barrel on the New York Mercantile Exchange (NYMEX) following Tuesday`s drop of USD 3.28 a barrel.
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