Equity Alert: Indices may open down 1% on fall in key Asian mkts
MUMBAI--9:30AM--Taking cues from key Asian markets, local share
indices
will open down around 1% amid indications the U.S. government's $700-
bln bank
bailout deal is stalled due to bickering between the Democrats and
Republicans, dealers said.
SGX CNX October contract was trading down 1%, at the day's low,
while key
Asian markets fell 1-2%.
The vagueness surrounding the U.S. government bailout package
leaves much
uncertainty for markets heading into the weekend, and selling pressure
is
likely to persist throughout the session, dealers said.
Support for Sensex is seen at 13340, and resistance at 13610, a
technical
analyst said.
Thursday, Sensex ended at 13547.18, down 145.34 points, or 1.1%,
from
Wednesday. Nifty closed at 4110.55, down 50.70 points, or 1.2%.
Crude oil for November delivery was trading at around $107 a
barrel on
NYMEX.
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