Morning Update, 23 June 2009
On Monday, the S&P 500 moved lower sharply in broad-based fashion, which took it below the key 900 level for the first time this month. With sellers in control, the session culminated in the stock market’s worst single-session percentage loss in two months. The Dow closed 200.72 points lower (-2.35%) to end the day at 8,339.01. The index simply nosedived as it opened and lay low thereafter. The NASDAQ closed 61.28 points lower (-3.35%) to finish at 1,766.19.
The Indian ADRs had a mixed bag day on Monday, with the gainers and losers more or less equally divided amongst them. Infosys Technologies (INFY) was the biggest gainer, up 0.89%, closing at $36.15. HDFC Bank (HDB) was the biggest loser, down 2.75%, closing at $104.41.
The European markets suffered hefty losses on Monday as risk averse investors shifted to the perceived safety of the dollar, the yen and government bonds. The UK’s FTSE closed 111.88 points down (-2.57%), ending at 4,234. Germany’s DAX closed 146.06.98 points down (-3.02%), ending trading at 4,693.
As of 9:35 am IST, the Asian markets were witnessing significant losses. While Japan’s Nikkei is currently trading 299.63 points lower, down 3.05%, the Hang Seng is currently trading 582.94 points lower, down 3.23%.
WTI Brent crude oil closed at $66.77 per barrel, down $0.16 (-0.24%). Nymex light crude July futures closed at $66.93, down $2.62 (-3.91%). August COMEX gold futures closed at $917.60 per ounce, down $3.40 (-0.37%).
As of 9:40 am IST, the Yen (¥) rose against the USD, by ¥0.68 to ¥95.21. The Euro (€) rose €0.0003 to €0.7209 against the dollar. The Pound (￡) fell by ￡0.0003 to ￡0.612 against the dollar.
The rupee fell by Rs. 0.54 to close at Rs. 48.62/63 on Monday, against the greenback.
Tags: Asian Equities, Comex Gold, Commodities, Currencies, DAX, DJIA, Dow, Euro, European equities, FTSE, Hang Seng, International Markets, NASDAQ, Nikkei, Nymex Crude, NYSE, Pre-market summary, Rupee, Rupee/USD, US equities, USD, USD/Euro, USD/JPY, WTI Brent Crude, Yen
