BUY NIFTY @ 4845 TGT 4860-4890
Wednesday, 16 May 2012
Newz - NIFTY
Sentiments are Weak because of USDINR Movements. Sustain BUYING is not Coming. Maximum Down Side 4750.
Oversold Conditions, need to wait for Bounce.
Oversold Conditions, need to wait for Bounce.
Tuesday, 15 May 2012
BREAKING NEWS -Greece to repay €450m bond in full:
Greece to repay €450m bond in full
15 May 2012 - 20:36 pm
Greece made a last-minute decision on Tuesday to pay bondholders who refused to accept a debt restructuring, a move that may set a precedent and infuriate creditors who accepted just cents on the euro for their investment in a historic bond swap.
In an about-face, Greece opted to pay holders of 430 million euros ($552 million) of a May 15 bond, despite having told those who took its bond swap offer in March that they would otherwise get nothing, government officials told Reuters on Tuesday.
The decision averts litigation by the bondholders, and will infuriate the 96.9 percent of creditors, mainly European banks, who agreed to take the deal.
“Greece’s strategy has been to openly say that it won’t pay holdouts, possibly in the hope at least some of them would go away,” said Steven Friel at legal firm Brown Rudnick, who advises creditors holding other Greek bonds that were not exchanged under the swap.
“This decision sets a commercial, if not a legal, precedent that they are willing to meet their obligations to pay bondholders in full for the other international law bonds that will mature in coming years,” he said.
A source close to private creditors involved in the swap, who declined to be identified, called it “scandalous” and wished Greece “good luck for the next restructuring”.
Greece completed a huge debt restructuring in early March, swapping a nominal amount of 177 billion euros of government paper held by private creditors for new securities as part of its second rescue package.
Nearly all bondholders agreed to suffer a loss of 75 percent after being told they had no choice. A few held out, however, demanding to be paid in full. That left about 6 billion worth of bonds that the Greek government must now decide how to handle.
15 May 2012 - 20:36 pm
Greece made a last-minute decision on Tuesday to pay bondholders who refused to accept a debt restructuring, a move that may set a precedent and infuriate creditors who accepted just cents on the euro for their investment in a historic bond swap.
In an about-face, Greece opted to pay holders of 430 million euros ($552 million) of a May 15 bond, despite having told those who took its bond swap offer in March that they would otherwise get nothing, government officials told Reuters on Tuesday.
The decision averts litigation by the bondholders, and will infuriate the 96.9 percent of creditors, mainly European banks, who agreed to take the deal.
“Greece’s strategy has been to openly say that it won’t pay holdouts, possibly in the hope at least some of them would go away,” said Steven Friel at legal firm Brown Rudnick, who advises creditors holding other Greek bonds that were not exchanged under the swap.
“This decision sets a commercial, if not a legal, precedent that they are willing to meet their obligations to pay bondholders in full for the other international law bonds that will mature in coming years,” he said.
A source close to private creditors involved in the swap, who declined to be identified, called it “scandalous” and wished Greece “good luck for the next restructuring”.
Greece completed a huge debt restructuring in early March, swapping a nominal amount of 177 billion euros of government paper held by private creditors for new securities as part of its second rescue package.
Nearly all bondholders agreed to suffer a loss of 75 percent after being told they had no choice. A few held out, however, demanding to be paid in full. That left about 6 billion worth of bonds that the Greek government must now decide how to handle.
Nifty Technical Levels
Below 4865 if trades with volumes…………………Nonstop slide upto 4847-4830—4813 not ruled out.
Below 4813 if trades or closes below then watch panic upto 4745 level.
Below 4813 if trades or closes below then watch panic upto 4745 level.
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