12:40 pm Europe opens:
European stocks opened sharply lower as markets digest the latest monetary policy decisions from the US Federal Reserve and Bank of Japan (BOJ) and remain on edge over the upcoming referendum on Britain's membership of the European Union.
The pan-European STOXX 600 was down 1.09 percent. Global markets are reacting to the Federal Open Market Committee's decision to hold its interest rate target at 0.25-0.50 percent on Wednesday, after a two-day policy meeting.
12:30 pm Market Expert:
A serious risk to global markets has emerged in the form of the British referendum slated for next week, says Arvind Sanger of New York-based Geosphere Capital.
In an interview with CNBC-TV18, Sanger said should Britian choose to exit the Eurozone, it would create a flight of capital into safe havens. But should the stay camp prevail, risk assets will make a comeback and India will be a beneficiary, according to Sanger.
"Once we get past Brexit vote, India is a no-brainer," Sanger said, àdding that he was positive on cement, commercial vehicles and road companies in the country.
12:15 pm Interview:
NCC is hoping to garner fresh orders worth Rs 1000 crore in FY17, with an eye on increasing the road projects, says the company's Executive VP - Finance YD Murthy.
In an interview with CNBC-TV18, Murthy said the company is bidding not only for NHAI orders but also road projects at state government level. "We would be looking at hybrid models of build-operate-transfer (BOT) projects," he said.
Murthy also expects their international business to do well this fiscal.
NCC is a billion dollar multinational infrastructure conglomerate, which is into various infrastructure segments like roads, housing, irrigation, railways, power etc.
12:00 pm Market Check
Bears have taken complete control over Dalal Street as equity benchmarks fell 1.5 percent and broader markets lost 1 percent in afternoon trade.
Investors looked more cautious ahead of Britain's referendum that scheduled to be June 23 after digesting Fed event.
The 30-share BSE Sensex plunged 403.67 points or 1.51 percent to 26322.67 and the 50-share NSE Nifty fell 128.70 points or 1.57 percent to 8077.90.About three shares declined for every share advancing on Bombay Stock Exchange.
Asian markets extended sell-off with the Nikkei falling over 3 percent on yen gains and Hang Seng declining over 2 percent. Oil prices fell for sixth consecutive day, following a lower than expected draw on US stockpiles and amid worries Britain might leave the European Union.
Front-month US crude futures were down 53 cents, or 1.1 percent, at USD 47.48 a barrel and Brent crude was 49 cents, or 1 percent, lower at USD 48.48 a barrel. Oil prices have fallen everyday after June 8, losing about 8 percent of their value.
European stocks opened sharply lower as markets digest the latest monetary policy decisions from the US Federal Reserve and Bank of Japan (BOJ) and remain on edge over the upcoming referendum on Britain's membership of the European Union.
The pan-European STOXX 600 was down 1.09 percent. Global markets are reacting to the Federal Open Market Committee's decision to hold its interest rate target at 0.25-0.50 percent on Wednesday, after a two-day policy meeting.
12:30 pm Market Expert:
A serious risk to global markets has emerged in the form of the British referendum slated for next week, says Arvind Sanger of New York-based Geosphere Capital.
In an interview with CNBC-TV18, Sanger said should Britian choose to exit the Eurozone, it would create a flight of capital into safe havens. But should the stay camp prevail, risk assets will make a comeback and India will be a beneficiary, according to Sanger.
"Once we get past Brexit vote, India is a no-brainer," Sanger said, àdding that he was positive on cement, commercial vehicles and road companies in the country.
12:15 pm Interview:
NCC is hoping to garner fresh orders worth Rs 1000 crore in FY17, with an eye on increasing the road projects, says the company's Executive VP - Finance YD Murthy.
In an interview with CNBC-TV18, Murthy said the company is bidding not only for NHAI orders but also road projects at state government level. "We would be looking at hybrid models of build-operate-transfer (BOT) projects," he said.
Murthy also expects their international business to do well this fiscal.
NCC is a billion dollar multinational infrastructure conglomerate, which is into various infrastructure segments like roads, housing, irrigation, railways, power etc.
12:00 pm Market Check
Bears have taken complete control over Dalal Street as equity benchmarks fell 1.5 percent and broader markets lost 1 percent in afternoon trade.
Investors looked more cautious ahead of Britain's referendum that scheduled to be June 23 after digesting Fed event.
The 30-share BSE Sensex plunged 403.67 points or 1.51 percent to 26322.67 and the 50-share NSE Nifty fell 128.70 points or 1.57 percent to 8077.90.About three shares declined for every share advancing on Bombay Stock Exchange.
Asian markets extended sell-off with the Nikkei falling over 3 percent on yen gains and Hang Seng declining over 2 percent. Oil prices fell for sixth consecutive day, following a lower than expected draw on US stockpiles and amid worries Britain might leave the European Union.
Front-month US crude futures were down 53 cents, or 1.1 percent, at USD 47.48 a barrel and Brent crude was 49 cents, or 1 percent, lower at USD 48.48 a barrel. Oil prices have fallen everyday after June 8, losing about 8 percent of their value.
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