Archive for the ‘StockMarkets’ Category
Newsworthy News in Red October : Dow Jones & Tax Dodgers
Dow Jones Index crosses the symbolic 10000 figure.
U.S. stocks rallied, sending the Dow Jones Industrial Average above 10,000 for the first time in a year, on better-than-estimated earnings at JPMorgan Chase & Co. andIntel Corp.
Bank of America Corp., American Express Co. and JPMorgan more than doubled since the Dow slid to a 12-year low on March 9 as global financial firms began recovering from $1.6 trillion in writedowns and credit losses. International Business Machines Corp. and Hewlett-Packard Co. jumped at least 54 percent since March 9 on signs the nation was recovering from the worst recession in seven decades.
Source: Bloomberg
And, about 7500 International Tax dodgers file for IRS Amnesty to avoid jail
Some 7,500 international tax dodgers have applied for an amnesty program that promises no jail time and reduced penalties for tax cheats who come forward, the Internal Revenue Service announced Wednesday.
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The program is part of a larger effort by the Obama administration to crack down on Americans who evade U.S. taxes by hiding assets in overseas accounts. In August, the U.S. and Switzerland resolved a court case in which Swiss banking giant UBS AG agreed to turn over details on 4,450 accounts suspected of holding undeclared assets from American customers.
Source: AP News
India attracts US$ 4.3 billion worth FII in May 2009
Promise of a stable government? or Promise of a growing economy? Or both? Its great to the FII flowing again.
Foreign institutional investors (FIIs) have pumped in Rs 20,117 crore (US$ 4.3 billion) into the Indian equity markets in the month of May 2009 — the highest in 19 months.
India’s market capitalisation (m-cap) has touched the US$ 1 trillion-mark, propelling it back among the top-ten in the world m-cap rankings. At US$ 1.04 trillion, India’s m-cap is the ninth largest in the world and in equivalent rupee terms, it is closer to the country’s gross domestic product (GDP) of Rs 5,332,753 crore (US$ 1.13 trillion).
Peter Schiff on US Economy in 2006 : Should Have Watched It Earlier :-(
In multiple interviews, Peter Schiff, explains that US Economy foundation is weaker and ‘the game is over America’. He also predicted in detail what markets are affected, credit crunch and how it will lead to recession, only to be laughed away by rest of the Pros on TV. We all should have watched it earlier 
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The Silver Lining of Economic Turbulence : Top 10 firms gain over Rs. 20,000 crores in market cap
There is a silver lining to the economic turbulence in Indian markets. Net effect of the economic turbulence is that top 10 firms in fact notched up their market valuations.
Breaking its six-week long losing trend, country’s top 10 club added over Rs. 20,000 crores to the combined market valuation in the past week, even as Reliance Industries and Infosys suffered losses.
The top 10 companies together gained Rs. 23,273 crores in market cap last week, while country’s most valued firm Reliance Industries alone lost Rs. 24,063 crores from its valuation. Also IT bellwether Infosys’ valuation declined to Rs. 6,371 crores in the past week.
At the end of Friday’s trade, the total market value of the 10 most valued firms, comprising six from public sector and four private sector entities, stood at Rs. 10,15,150 crores, up from Rs. 9,91,877 crores a week ago.
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As per the elite list of top 10 firms, RIL is followed by ONGC (Rs. 1,58,619 crores), NTPC (Rs. 1,24,671 crores), Bharti Airtel (Rs. 1,23,379 crores), SBI (Rs. 79,312 crores), Infosys (Rs. 72,728 crores), BHEL (Rs. 68,782 crores), MMTC (Rs. 68,726 crores), ITC (Rs. 65,908 crores) and NMDC (Rs. 61,810 crores).
Source: Top 10 firms gain over Rs. 20,000 croress in market cap
Does it mean, more investors are moving to stable and large firms from volatile small and medium stocks?
