Indian equities dropped on yesterday (Sep 26) on account of weak Asian markets as US Congress failed to come out with a conclusion on the $700 billion plan to bail-out its financial segment.
Realty, metal, banking and power stocks recorded huge losses. Each sector plummeted 4-6%.
Midcap and Smallcap index shed 2.99% and 3.11% respectively.
The 30-share index, BSE Sensex (on Friday) opened negatively at 13,481.85, down 65.33 points, whereas the NSE Nifty opened at 4108.75.
Washington - British Prime Minister Gordon Brown on Friday endorsed President George W Bush's 700-billion-dollar plan designed to rescue the US financial sector and stave off further turmoil in global markets.
"Britain supports the financial plan. And whatever the details of it, it's the right thing to do to take us through these difficult circumstances," Brown said at a hastily scheduled meeting with Bush at the White House.
Washington - US stocks were mixed Friday as investors awaited congressional approval of a 700-billion-dollar financial rescue plan.
The Standard & Poor's 500 broad-based index rose 4.09 points, or 0.3 per cent, to 1,213.27. The blue chip Dow Jones Industrial Average increased 121.07, or 1.1 per cent, to 1,1143.13. The high tech Nasdaq Composite Index dropped 3.23, or 0.2 per cent, to 2,183.34.
The S&P 500 was down 3.3 per cent on the week and the Dow slipped 2.2 per cent.
Washington - Congress wrestled Friday across party lines over a deeply unpopular financial industry rescue plan as majority Democrats insisted that Republicans get on board before holding a vote.
The White House pulled out all the stops, sending top officials to Capitol Hill, where negotiations continued over the controversial, 700-billion-dollar life raft for Wall Street.
Talks looked likely to continue over the weekend, House Speaker Nancy Pelosi said.
"We'll be in as long as it takes, and we hope it doesn't take long, because the markets need a message from us," she told reporters Friday following another round of meetings on the bailout.
Washington - US stocks were mixed Friday as investors awaited congressional approval of a 700-billion-dollar financial rescue plan.
The Standard & Poor's 500 broad-based index rose 4.09 points, or 0.3 per cent, to 1,213.27. The blue chip Dow Jones Industrial Average increased 121.07, or 1.1 per cent, to 1,1143.13. The high tech Nasdaq Composite Index dropped 3.23, or 0.2 per cent, to 2,183.34.
The S&P 500 was down 3.3 per cent on the week and the Dow slipped 2.2 per cent.
Amman - The US bailout plan is expected to have a "positive impact" on Middle East markets, which plummeted under the "psychological" fallout of the US financial crisis over the past few weeks, financial analysts said Friday.
"We believe the US rescue plan will have a positive impact not only on global markets but also on Middle East markets," Wajdi Makhamreh, Chief Operating Officer at the Sanabel International Holding told the Deutsche Presse-Agentur dpa.
"The scheme will help evade the collapse of the world financial system. However, doubts will continue to be raised as to the effectiveness of the salvage blueprint," he said.
as US Congress failed to come out with a conclusion on the $700 billion plan to bail-out its financial segment.
British Prime Minister Gordon Brown on Friday endorsed President George W Bush's 700-billion-dollar plan designed to rescue the US financial sector and stave off further turmoil in global markets.
Washington - US stocks were mixed Friday as investors awaited congressional approval of a 700-billion-dollar financial rescue plan.
Washington - US stocks were mixed Friday as investors awaited congressional approval of a 700-billion-dollar financial rescue plan.
