US stocks continue to slide
New York: U.S. stocks fell for a third day as a direct fall out of the attacks on World Trade Center.

The shares of Mega Corps, General Electric Co., Intel Corp. and Exxon Mobil Corp along with major airlines took major beating, pushing the Standard & Poor's 500 Index below 1000 for the first time in almost three years.

The Nasdaq Composite Index dropped 27.28, or 1.8 percent, to 1527.80 after plunging as much as 6.7 percent. The S&P 500 lost 16.64, or 1.6 percent, to 1016.10, rebounding from a low of 984.62.

More than three stocks fell for every one that rose.

General Electric, the world's largest company, lost $1.35 to $32.50 and is down 17 percent this week. Investors expect the assault to hurt GE's aircraft engine, insurance, airplane leasing and credit card businesses.

Among technology stocks, Intel dropped $1.19 to $22.28, Microsoft Corp. fell 45 cents to $53.87 and Dell Computer Corp. lost 71 cents to $19.08.
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Sensex moves up
Mumbai: The upward movement of stocks on the Indian bourses continued as the Sensex rose by almost 1 per cent today posting a second consecutive day of gains.

The optimism was stated to be on account of RBI's announcement yesterday to allow banks to finance margin trading. According to new RBI guidelines banks can now finance margin trading in 53 scrips at a margin of 40 per cent.

FIIs and local funds managers were also encouraged by the firm trends. Among the top picks, the frontline cement and pharma stocks found buyers. However, technology was once again pushed down as FIIs offloaded large quantities of the software majors.

Cement major ACC took a big leap on value buying, closing with a gain of 10 per cent at Rs 109.

Almost all frontline pharma companies were in the shopping list of buyers. Cipla surged with the highest volumes, closing with a gain of Rs 86.

Zee Telefilms gained for the second consecutive day and so did the Sensex heavyweight Hindustan Lever, which closed at Rs 211 with a gain of almost 3 per cent.

The rupee touched yet another closing low for the tenth successive day slipping below the psychological barrier of 48 against the dollar.
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