U.S. Markets fell as Coca-Cola numbers drop - Nirmal Bang

U.S. stocks fell as Coca-Cola Co.'s profit dropped and a Fed Reserve official called for cuts to stimulus.

Asian stocks dropped, with the regional benchmark index retreating from the highest close in seven weeks, ahead of Fed Reserve Chairman Bernanke's address to the U.S. Congress.

Sensex pared some of the intraday losses and closed near 19,900 as some buying activity picked up in the afternoon after a sharp intraday correction. Realty and banks continued to remain under pressure as the RBI's steps to stem rupee fall lowered hopes of interest rate cut. RBI hiked lending rates for banks and sucked up of Rs 12,000 cr from the system, to make the currency dearer. The MSF rate has been raised 200 bps to 10.25 bps. Market is expected to open on a flattish note and expected to remain range bound ahead of Fed testimony.

Source : Equity Bulls

Keywords