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Today on the occassion of diwali NSE and BSE both are conducting muhurat trading, but mood of both invester and broker is sombre.

“No miracle is going to happen in the markets just because it is Diwali. We do not expect clients to conduct any big trades,” said Anita Gandhi, head-institutional business, Arihant Capital Markets.

BSE and NSE both fallen about more than 30% in the october only, largly driven by foreign institutional investors (FIIs) selling and hedge funds faced with redemption pressures back home. Brokers are expecting dull mahurat session.

Kotak Securities is offering incentives for people to trade on the muhurat trading day. In a special offer, Kotak Securities has announced the ‘double dhamaka’ contest, where investors can win prizes if they generate a certain volume through trading tomorrow.

Lakshmi Puja And Muhurat Trading on Tuesday, October 28, 2008

Lakshmi Puja : 4:00 PM Onwards

Muhurat Trading Session Details:

Session Start Time End Time Login 05 : 15 p.m. 06 : 15 p.m. Continuous Trading 06 : 15 p.m. 07 : 15 p.m. Closing 07 : 15 p.m. 07 : 25 p.m. Post Closing 07 : 25 p.m. 07 : 45 p.m.

Economy crisis follows largest layoffs in Indian aviation sector, Jet Airways given pink slips to more than 800 cabin crew and customer care executives. Jet Airways and Kingfisher Airlines had announced a cost-cutting collaboration on Monday October 13. Meanwhile, sources say that Kingfisher airlines is also likely to lay off employees.

The downturn in the world economy has severely impacted the world aviation industry. The rapid increases in and the volatility in the crude oil prices and that of aviation turbine fuel and the slowdown in economic activity has resulted in a decline in air travel both on international and domestic segments of the air travel market.

Source: MC

Update; TOI reports 1000+ layoff

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