Roundup: S&P +0.13%. Dow +0.04%. Nasdaq +0.09%. Gold $1,585.70. London -0.45%. Germany +0.06%. France -0.10%.
Foreign institutional investors purchased the highest-ever amount of Nifty and Bank Nifty options in a single day on Tuesday. But the quantum of bearish bets far outweighs bullish ones, indicating some of these are to protect FIIs’ cash market holdings, while others are cover against their sales of Nifty put options to hedge funds and international funds through P-notes on offshore markets. (ET)
At least 15 banks are auctioning distressed assets of Rs 9,000 crore, a move aimed at cleaning up their books and shoring up profits before the close of the financial year. (ET) [stockquote]BANKBEES[/stockquote]
The government, which holds 87.15% in the NALCO, is likely to offer a 5% stake on Friday, with an option to sell 5% more. The shares are likely to be auctioned at a base price of Rs. 40 each, a discount of about 13% to Wednesday’s closing price. (ET) [stockquote]NATIONALUM[/stockquote]
DB Realty: “On the ground, the market is slow compared to what we have seen in the last few years.” (ET) [stockquote]DBREALTY[/stockquote]
Most people are much better off if they simply do two things: Re-balancing their holdings on a regular basis and changing the tilt of their allocations on rare occasions. Focus on maintaining an intelligent balance of assets, and leave the martket timing to the newsletter writers. When they get it wrong, they lose subscribers. When you get it wrong, it crushes your retirement plans… (TBP)
Dubai: “We’re looking to create an offshore emerging market centre.” The DGCX launched the Indian rupee futures contract in 2007, which it says now accounts for just under a third of the global-traded value of Indian rupee futures. It is now launching the first dollar based MSCI India equities futures contract. (FT)