Monday, March 3, 2008

Black Monday yet again for BSE

It was a Black Monday again. As weak global markets triggered a massive sell-off, stocks across the board went into a tailspin on the major Indian bourses today. So sharp were the losses recorded by blue chip stocks today that the benchmark BSE index Sensex went tumbling down by a massive 5.12% or 900.84 points, recording its second biggest fall ever (in absolute terms) in history.

As fears of growing credit losses and the implications of a weak US economy on other nations continued to dampen the sentiment, it was a virtual one way trip down south for stocks today. Moderation in growth and concerns over rising inflation were the other factors that hurt the sentiment.



While the Sensex, which touched a low of 16,634.63 in late afternoon trade, ended at 16,677.88, the Nifty settled at 4953, a few points off its intra-day low of 4936.05, netting a huge loss of 270.50 points or 5.18%.

Auto and pharma stocks, thanks to certain sops announced in the Budget that was tabled last Friday, found some support. The Auto and Healthcare indices ended lower by just 0.8% and 0.19% respectively!

Mirroring the sharp fall in prices of bank, power and realty stocks, the Bankex, Power and Realty barometers went down by 6.72%, 6.35% and 6.39% respectively. The Capital Goods, Metal, Oil & Gas and PSU indices lost 5.5% - 6%. The Consumer Durables index dropped down by 6.72% while the IT and Teck indices eased by 4.4% and 4.32% respectively. BSE FMCG drifted down by 2.1%.

Among Sensex components, only Cipla (2.15%), Hindustan Unilever (2%), Ranbaxy Laboratories (1.1%) and Maruti Suzuki (0.85%) managed to buck the weak trend today.

Sun Pharmaceuticals (3.1%), Hero Honda (1.75%), GlaxoSmithKline Pharma (0.8%), Zee Entertainment (0.75%), Nalco (0.75%) and BPCL (0.5%) were the gainers from the Nifty index.

State Bank of India (down 8.8%) was the biggest loser from the Sensex. DLF, HDFC and BHEL lost 8% - 8.5%. Hindalco, NTPC, Reliance Industries and ICICI Bank lost over 6% today.

Reliance Communications, Reliance Energy, Satyam Computer Services, Infosys Technologies, Larsen & Toubro, ITC, HDFC Bank, Bharti Airtel, Tata Steel, Grasim Industries, Wipro, Tata Consultancy Services

Suzlon Energy, the biggest loser in the Nifty, went down by 10.4%. Punjab National Bank (down 9.65%), SAIL (down 9.3%), Reliance Petroleum (down 7.9%), Siemens (down 7.35%), Tata Power (down 6.7%), Idea Cellular (down 6.05%), Sterlite Industries (down 6.05%), Unitech (down 5.55%), GAIL India (down 4.65%), Tata

Communications (down 3.95%) and ABB (down 3.55%) also declined sharply. Cairn India, Dr Reddy's Laboratories and HCL Technologies eased by 2.955, 2.05% and 1.4% respectively.

Mirroring the sell-off in midcap and smallcap segments, the BSE Midcap and Smallcap indices fell by over 4% today. The market breadth remained very weak right through the session.

When trade ended, out of a total of 2766 stocks that were seen in action on BSE today, as many as 2330 stocks were down in the red. 396 stocks managed to post gains and 40 stocks ended at their previous closing levels.

The volume of business on the bourses came down a bit today. The National Stock Exchange recorded a turnover of Rs 12,754.20 crore, which was lower by around Rs 3,262 crore than what the exchange had recorded on Friday last week.

3 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. 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.

    Its like NSE and BSE
    both are running out of volumes due to weak stock market trend from the beginning of 2008. We have seen new highs of Nifty and Sensex in the past and now they are trading on lower sides which is hampering the confidence of traders and investors. Fall in BSE
    and NSE
    resulted in lost of around 60% - 70% portfolio of investors though traders are minting money in week market too.

    One point to be noted and learned is that people are investing money by ignoring all fundamentals and technical aspects. We request all of investors and traders that Invest money wisely its hard earned money do research work only then invest if you don't have time to do research work let professionals do it for you.

    Think twice thrice before investing blindly without backed by technical and fundamental research.

    Have a Nice trading days ahead.



    Regards


    SHARETIPSINFO TEAM

    +91 9891655316
    +91 9899056796
    +91 9891890425

    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.

    Its like NSE and BSE
    both are running out of volumes due to weak stock market trend from the beginning of 2008. We have seen new highs of Nifty and Sensex in the past and now they are trading on lower sides which is hampering the confidence of traders and investors. Fall in BSE
    and NSE
    resulted in lost of around 60% - 70% portfolio of investors though traders are minting money in week market too.

    One point to be noted and learned is that people are investing money by ignoring all fundamentals and technical aspects. We request all of investors and traders that Invest money wisely its hard earned money do research work only then invest if you don't have time to do research work let professionals do it for you.

    Think twice thrice before investing blindly without backed by technical and fundamental research.

    Have a Nice trading days ahead.



    Regards


    SHARETIPSINFO TEAM

    +91 9891655316
    +91 9899056796
    +91 9891890425

    ReplyDelete

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