Markets gradually resume
Chicago - After shutting down for two days the markets gradually resumed work Thursday. There was a sharp increase in bond prices, a result of investors' uneasiness about a worsened economic outlook.

Trading was low and subdued as futures activity resumed on the Chicago Board of Trade and Chicago Mercantile Exchange. However, with the New York markets still closed there was no depth in the trading brokers said.

Bond prices had shown a hike even before Tuesday's terrorist attacks in New York and Washington, indicating that investors are seeking safe haven investments. The lack of volatility reflected increasing hopes that the Federal Reserve will lower rates for the eighth time this year.

The Chicago exchanges resumed most of their regular trading in commodities, silver, gold, and some financial instruments related to foreign currencies and interest rates. Trading in US stock-related products remained closed along with the New York Stock Exchange and Nasdaq and other stock markets.
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Markets decline over uncertain outlook in the US
Mumbai - Growing uncertainties over US retaliatory moves to terrorist attack have kept fresh flow of investible funds at bay as retail investors, have opted to postpone investment decisions in equities.

Though the market resumed trading on a better note on Thursday and bluechips recovered from the worst ever shock, US official statements that it was considering various options including massive retaliation pushed investors to offload stocks.

The BSE Sensitive Index opened six points higher at 3039 and rebounded further to touch an intra-day high of 3068. However, selling pressure pulled it down to breach the psychological barrier of 3000-mark again at the close of the session.

The Sensex ended the day at 2987, netting a loss of 45 points or 1.5 per cent. With this, the Sensex crashed 163 points or 5 per cent in the past two trading sessions.

The combined turnover on the National and Bombay stock exchanges was Rs 2,899 crore as against Rs 2,827 crore on the previous day.

Of the 1,206 traded scrips, as many as 109 stocks hit new 52-week lows. The market sentiment was badly hurt by the offloading by US-based funds on Thursday. Stocks like Infosys, Satyam, HCL Technologies, ITC, Reliance Industries and Reliance Petroleum were sold heavily.

On September 12 (the day after terrorist attack on the US), foreign funds sold equities to the tune of Rs 85 crore. The total net sales so far this month has been placed at Rs 183 crore in equities as compared with net purchases of about Rs 12,450 crore in the previous eight months.

Software stocks also continued to reel under selling pressure for the second day in a row. The Digital Equipments scrip crashed 9 per cent to Rs 313 and Satyam Computer by Rs 7 per cent to Rs 146.70. Petroleum stocks too met with heavy offloading following reports of spurt in crude oil prices.
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