U.S stocks continue to fall - Nirmal Bang

U.S. stocks fell, giving the S&P's 500 Index its first-two day drop in a month, as investors weighed global manufacturing data and earnings reports from Caterpillar Inc. and Apple Inc.

Asian stocks fell, with the regional benchmark index heading for a second day of losses, as investors weighed corporate earnings and awaited U.S. economic data that may shed light on when the Fed Reserve will taper stimulus.

Sensex plunged more than 300 points in afternoon trade on Wed led by sharp decline in banking stocks, after RBI announced additional liquidity tightening measures to contain excessive speculation and volatility in foreign exchange market. The central bank reduced the LAF for each bank from 1% of the total deposits to 0.5%, thus limiting the access to borrowed funds from the central bank. Market is expected to open on a lower note and remain rangebound during the day.

Source : Equity Bulls

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