FIIs continue selling

Outflow of Rs 611.40 crore on 30 January 2008Foreign institutional investors (FIIs) sold shares worth net Rs 611.40 crore on Wednesday, 30 January 2008, compared to their selling of Rs 285.10 crore on Tuesday, 29 January 2008.FII outflow of Rs 611.40 crore on 30 January 2008 was a result of gross purchases of Rs 2913.20 crore and gross sales Rs 3524.60 crore. The 30-share BSE Sensex lost 344.98 points or 1.91% at 17746.96 on that day.FII outflow in January 2008 totaled Rs 13,035.70 crore (till 30 January 2008).There are a total of 1,279 FIIs registered...

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Why the US rate cut may kill the dollar

The recent cut in the benchmark interest rates by the US Federal Reserve by 75 basis points from 4.25 per cent to 3.50 per cent on January 22 and a further 50 basis points to 3 per cent on January 30 as a response to a possible recession in the United States has completely surprised analysts across the world.Unprecedented as it is, this steep cut in the interest rates effected by the Fed has the potential to dynamite the US dollar, the US economy and, by extension, the global economy.What could surprise many is the fact that the US Fed's prescription...

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Short Term Recomendations

Subros Cluster: Ugly DucklingRecommendation: BuyPrice target: Rs68Current market price: Rs50.55 Margins maintained Result highlights The Q3FY2008 results of Subros are slightly ahead of our expectations. The top line of the company grew by 2.2% year on year (yoy) to Rs160.2 crore led by a growth of 15% in the volume and a decline of 11% in the realisation. The realisation dropped...

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