The BSE benchmark Sensex opened over 18 points lower Friday on sustained selling by foreign funds and retail investors ahead of the release of factory output data for the month of April later on Friday.
The 30-share barometer, which lost over 110 points in the previous two sessions, fell further by 18.04 points, or 0.10 per cent, to 18,366.86 points in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange Nifty index slid by 11.40 points, or 0.14 per cent, to 5,509.65 points.
According to market experts, the trading sentiment turned bearish on sustained selling by funds and retail investors ahead of the release of index of industrial production (IIP) data later Friday.
Trading is not a get rich quick philosophy, instead it is a profession that needs to be mastered in order to be profitable.
10 June 2011
Nifty lacklustre
Indian equity benchmarks were completely lacklustre in early trade. Indices remain in a tight range for the sixth day in a row - the Nifty has been moving in a range of 5500-5550 despite positive US cues.
The market may remain in a narrow band over the next few months. "The market looks fairly priced at the moment, but the uncertain macro environment indicates that risks are to the downside. We believe the market may remain in a narrow band over the next few months, hence investors should consider focusing on accumulating good quality names that have strong balance sheets and earnings visibility."
The market may remain in a narrow band over the next few months. "The market looks fairly priced at the moment, but the uncertain macro environment indicates that risks are to the downside. We believe the market may remain in a narrow band over the next few months, hence investors should consider focusing on accumulating good quality names that have strong balance sheets and earnings visibility."
09 June 2011
Citigroup card customers’ data hacked
Computer hackers have breached Citigroup's computer network and have accessed data on hundreds of thousands of its card customers, the Financial Times said. Citigroup said the breach, which affected about 1 per cent of its card customers, was discovered in early May through routine monitoring, the newspaper said.
According to the bank's annual report, Citi Cards has about 21 million customers in North America. The breach occurred at Citi Account Online, which holds basic customer information such as names, account numbers and e-mail addresses.
Other information such as birth dates, social security numbers and card security codes are held elsewhere and were not compromised, Citi said.
"The bank said it had contacted law enforcement officials and tightened its fraud detection procedures, but declined to provide further details or to say whether customers had reported suspicious transactions," the FT reported.
Though Citigroup said the breach involved only credit card accounts, the FT said that several people have told it their debit card details were compromised.
Hacking into companies is increasingly becoming common. Lockheed Martin, PBS and Sony have all recently had their security systems violated.
According to the bank's annual report, Citi Cards has about 21 million customers in North America. The breach occurred at Citi Account Online, which holds basic customer information such as names, account numbers and e-mail addresses.
Other information such as birth dates, social security numbers and card security codes are held elsewhere and were not compromised, Citi said.
"The bank said it had contacted law enforcement officials and tightened its fraud detection procedures, but declined to provide further details or to say whether customers had reported suspicious transactions," the FT reported.
Though Citigroup said the breach involved only credit card accounts, the FT said that several people have told it their debit card details were compromised.
Hacking into companies is increasingly becoming common. Lockheed Martin, PBS and Sony have all recently had their security systems violated.
Silver rises to Rs 55,100 and Gold remains weak
A divergent trend developed in the bullion market Thursday as silver recovered by Rs 400 to Rs 55,100 per kg on fresh buying by stockists amid a firming global trend, while gold fell further by Rs 25 to Rs 22,655 per 10 gram on sluggish demand at existing high levels.
Silver coins followed suit and shot up by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Buying activity in silver gathered momentum as the metal prices rose in global markets amid fresh buying by stockists and jewellers for the marriage season, traders said.
On the other hand, sluggish local demand and weak trend in overseas market led to the decline in the yellow metal''s prices, they added.
Gold in global markets, which normally sets a price trend on the domestic front, declined by USD 1.50 to USD 1536.10 an ounce, while silver gained 0.35 per cent to USD 36.93 an ounce.
On the domestic front, silver ready recovered by Rs 400 to Rs 55,100 per kg and weekly-based delivery by Rs 320 to Rs 54,970 per kg.
On the other hand, the gold of 99.9 and 99.5 per cent purity remained weak for the second straight day and shed another Rs 25 each to Rs 22,655 and Rs 22,535 per 10 grams, respectively.
The yellow metal had lost Rs 130 in yesterday''s trade.
Silver coins followed suit and shot up by Rs 1,000 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.
Buying activity in silver gathered momentum as the metal prices rose in global markets amid fresh buying by stockists and jewellers for the marriage season, traders said.
On the other hand, sluggish local demand and weak trend in overseas market led to the decline in the yellow metal''s prices, they added.
Gold in global markets, which normally sets a price trend on the domestic front, declined by USD 1.50 to USD 1536.10 an ounce, while silver gained 0.35 per cent to USD 36.93 an ounce.
On the domestic front, silver ready recovered by Rs 400 to Rs 55,100 per kg and weekly-based delivery by Rs 320 to Rs 54,970 per kg.
On the other hand, the gold of 99.9 and 99.5 per cent purity remained weak for the second straight day and shed another Rs 25 each to Rs 22,655 and Rs 22,535 per 10 grams, respectively.
The yellow metal had lost Rs 130 in yesterday''s trade.
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