GLOBAL CUE IS WEAK HOPE MARKET WILL OPEN IN GAP DOWN,IF NIFTY DOES NOT HOLD 5050 CLOSE ALL UR LONG,LEVEL OF NIFTY 5100 IS CRUCIAL LEVEL,IF DOES NOT SUSTAIN 5100 MARKET COULD COME DOWN TO 4800-4700 LEVEL.FROM THEIR WE COULD EXPECT SHORT COVERING.IN TOTAL MARKET WIDE OPENINTEREST NIFTY IS HOLDING 50%.
Commonwealth Bank of Australia retreated to the lowest in more than two years in Sydney, while Mitsubishi UFJ Financial Group Inc. fell in Tokyo after UBS AG said losses in credit markets may reach $600 billion. Toyota Motor Corp., the world's second-largest automaker, dropped after a gauge of U.S. business activity fell to the lowest level since 2001 and the yen strengthened against the dollar.
U.S. stocks plunged on Feb. 29, capping the market's fourth monthly drop, after the National Association of Purchasing Management-Chicago said its business barometer contracted as production and employment weakened. The Standard & Poor's 500 Index declined 2.7 percent, the most since Feb. 5.
Statutory Liquidity Ratio bonds, a government instrument for meeting financial commitments, are likely to be issued to public sector banks for waiving off Rs 600-billion worth farm loans.
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