Money on the markets

A maturing market amid the mayhem

Sensex loses ground as U.S. stimulus package disappoints

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The BSE Sensex fell in early trade but pared losses to close 0.3 percent down on Wednesday as the much-awaited U.S. stimulus package failed to shore up investor sentiment globally.

Investors were disappointed with the $838 billion stimulus bill passed by the U.S. Senate on Tuesday and their reaction clearly showed greater concern about financial security.

According to SEBI, FIIs were net buyers and sellers today. Their net investment in equities was $103.2 million while their net sale in debt was $0.1 million.

On the economic front, Russia signed more than $700 million in deals to supply India’s nuclear reactors with fuel pellets.

Stimulus hopes boost investor sentiments

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The BSE Sensex ended on a strong note on Monday, extending gains to more than 3 percent on hopes of fresh economic stimulus measures and another round of rate cuts by the Reserve Bank of India (RBI).

Gains were led by heavyweights like Reliance Industries, which was up 3.3 percent; ICICI Bank, which rose 5.1 percent, and State Bank of India which added 2.6 percent.

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