Adverse Jupiter strikes again and the Sensex crashes !
The Dow dropped on 28th, as a profit warning from J C Penney raised concerns about slowing consumer spending. Credit related problems plagued the US markets.
In India, ICAI asked companies to disclose losses incurred due to derivatives trade, in order to make the new accounting standard - the AS 30 - mandatory from 1 Apr 2011. This may hit the FY2008 of Indian firms.
IT pivotals took a beating, on fears that the recesion in the US may affect their performance. Infy lost 6.74% and slumped to 1423, Satyam to 391, Wipro to 440 and TCS to 814 !
Banking scrips also declined. ICICI Bank slumped to 790, HDFC Bank to 1316 and SBI to 1628.
Asian markets were trading lower today. Hang Seng declined to 22840, Nikkei to 12525 and Shanghai Composite to 3586 !
Cairns India net loss at 25 cr. Infy falls to 1425. Cairns to 215. HCL Tech to 257. HDFC Bank to 1337.
Jupiter moves to Capricorn on 9th December. So investors, beware !
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