Wednesday, January 23, 2008

Bombay Stock Exchange Update (BSE) Indian shares move up on Fed rate cut amid volatility

Amid high volatility, Indian shares moved up Wednesday after opening higher as the US Federal Reserve stepped in to cushion the global financial crisis with a cut in interest rates, triggering positive reactions in stock markets across the globe.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 17,415.26 points, with a gain of 685.32 points, over the previous day's close at 16,729.94 points.
By noon, the index was ruling at 17,311.97 points, with a gain of 582.03 points, or 3.48 percent, data with the bourse showed. All sector-specific indices were also ruling higher.

But lingering uncertainty over possible recession in the US saw the key index fluctuate wildly in a broad range of 725.57 points as investors tried to book profits at every small rise, analysts said.
Considering Tuesday's close, the peak of 17,676.60 points reached minutes after commencement of trading meant a rise of 946.66 points.
The sector-specific index for realty stocks led the upswing, followed by those for oil and gas, power, metals, state-run units, banking, consumer goods and automobiles.
Among specific stocks, Bharat Heavy Electricals Ltd was up 9.06 percent, NTPC was up 8.08 percent, Reliance Communications gained 6.92 percent, Hindustan Aluminium was up 6.72 percent and Reliance Energy rose 6.32 percent.
Ranbaxy Laboratories, Satyam Computers, Housing Development Finance Corp, Reliance Industries, Tata Consultancy, Associate Cement, Mahindra and Mahindra also made moderate gains.
Monday and Tuesday saw the barometer plummet 1,408.35 points, or 7.41 percent, and 875.41 points, or 4.97 percent, on account of panic selling, in line with the movements across the globe from Tokyo to New York.
The authorities at the Mumbai bourse had to suspend trading for an hour Tuesday, as Sensex fell below the circuit breaker level, before a pep talk from Finance Minister P. Chidambaram on the fundamentally strong Indian economy helped ease the losses.
Investors had lost $170 billion Monday in terms of market capitalisation, with another $95 billion shaved off the valuations the next day as scrip after scrip lost ground on account of panic selling.
Stung by fears of a possible recession, The US Federal Reserve had delivered a surprise interest rate cut of 75 basis points early Tuesday, which shored up market confidence across the globe, including India.
Indo-Asian News Service

11 comments:

  1. Dear Visitors,

    This Blog is really nice and informative. We are pleased to know this
    blog is really helping people. Its our pleasure to post
    Informative content on this useful blog created by webmaster.

    As we all know major
    href="http://sharetipsinfo.com/stockexchange.htm" title="stock market
    exchanges">stock market exchanges
    in India are
    href="http://sharetipsinfo.com/bse.html" title="BSE">BSE

    and NSE. Full form of BSE is Bombay stock exchange covering SENSEX
    where as

    NSE is
    National stock exchange covering Nifty and Nifty stocks.

    Now a days USA is facing recession which is affecting world market and
    recently we have witnessed major fall in Nifty and Sensex.

    In this fall many investors were trapped and loosed around 50% to 70%
    of their portfolio which is a major issue and need to be taken care
    of.

    Stock market is risky and will remain risk always still one can
    minimize risk factor in it by using proper stoploss. As the name suggest
    Stoploss , it stops the losses
    which one can incur in the market.

    There are few levels which we call support and resistance level which
    we suggest one should strictly follow for coming days if they want to
    survive in stock market.


    Right now Nifty is direction less

    Major suport-4660 below it next will be 4400.If breached then 4000.

    On upper side Res- 5025 closed above can take Nifty to 5150-5200 . 2-3
    closings above 5200 means 5400.

    We suggest strictly follow these level and enter in market as per these
    levels as these are very crucial levels technically.



    Please feel free to contact us for any query.


    Have a Nice trading days ahead.

    Regards


    SHARETIPSINFO TEAM

    9891655316
    9899056796
    9891890425

    ReplyDelete
  2. 90% accurate stock recommendations in any market condition with exact entry price, exit price & stop loss every single day on your email & mobile thru SMS.
    For more info please visit: www.5minutetrader.com

    ReplyDelete
  3. Dear Visitors, This blog is really nice and informative. We are pleased to know this blog is really helping people. Its our pleasure to post informative content on this useful blog created by webmaster. Currently something is cooking in the Indian stock market, We know it but unfortunately we cant disclose the reason so openly. We strongly suggest everyone not to take any long position at these levels. We will see Pullback in the market very soon but that will be a fake one so don’t consider pullback as opportunity to go Long in market( Delivery based). As after that initial pullback we can see fall once again. As mentioned cant disclose it still giving minor hint see call and put section and think why you are not able to access few options and check December part and think who are the people behind it?? We suggest wait for falls to take delivery till then prefer only intraday else you will find yourself out of BSE and NSE one fine day. For any query feel free to contact us. Regards SHARETIPSINFO TEAM +91- 9891655316 +91- 9899056796 +91 - 9891890425

    ReplyDelete
  4. Visit our website
    www.shareinfoline.com are made easy with our live NSE and BSE market tips. Our trading tips covers NSE and BSE.shareinfoline technical analysts keeps there eyes on this bullish Indian stock market to provide best intraday and long term share market calls daily. Our trading tips covers NSE and BSE.We provide intraday and long term share market calls daily with Equal Emphasising on fundamental and on technicals aspects.Check gainers losers news penny stock IPO Free tips trading tricks.

    ReplyDelete
  5. We found your blog very informative."slow and steady methods can be even more effective than big hitting" great line for investors. .We have more information related to stock market.We would like to share it with users.

    ReplyDelete
  6. This blog is novice and informative,visitors will surely be benefitted,Its our pleasure to post Informative content on this useful blog created by webmaster.


    Now as such we have seen in past few trading sessions that Market has become volatile and also there were also most of the stocks are available in discounts which means that the right time has come when one can invest in this Indian Stock Market with handsome gain in over a period of time along with that one can also opt for doing Intrading Trading now days as stock specific movement is there.

    Quieries are welcomed at:



    KnowYourProfit
    09871142419

    ReplyDelete
  7. Stocks extended gains Wednesday in line with Asian peers. Strong gains in high-beta sectors like capital goods and metals led the up move.

    Bombay Stock Exchange’s Sensex was at 13979, www puntercalls com higher by 125 points while National Stock Exchange’s Nifty rose 78 points to 4052.45.

    “We had a party Tuesday in the markets. Sensex rose just 3%, scores of derivative and midcaps surged like there is no tomorrow. Average gains www puntercalls com in 183 derivatives were about 5%. Markets will need to digest such heady gains before it moves further. 14200 is next resistance and 13600 is support for the Sensex
    Read more detail click on
    http://puntercalls.com/news/positive-start-for-equities-2.html

    ReplyDelete
  8. Wow this blog is magnificent i like studying your posts. Stay up the good work! You already know, many individuals are searching around for this information, you can help them greatly.

    ReplyDelete
  9. largest companies by market cap. stocks were selected using a combination of momentum also volume and relative performance also and chart formation criteria and By the end of the month and Salesforce had gained 2.6% and also PerkinElmer had gained 6.4%. aprdp

    ReplyDelete
  10. This is really marvelous article for me nice post... Thankful to you for sharing.
    Indian best decision maker

    ReplyDelete
  11. data entry servicesMarch 8, 2022 at 11:11 AM

    Nice post. Really awesome content. Would love to read more posts like this.

    data entry services

    ReplyDelete

Related Posts with Thumbnails