Monday, March 17, 2008

Sensex lose 951 Points and Nifty dropped 242

Sensex crashes on Black Monday

The Bombay Stock Exchange Sensex extended losses to more than 6 percent today, joining a global equities rout on growing fears of financial trouble after a fire sale of Bear Stearns and the US Fed cut its discount rate.

The 30-share BSE barometer settled the day below 15k level at 14,809.49 points, a loss of 951.03 points. It touched the day's low of 14,838.27 and a high of 15,326.93 points. The key index is closing below the 15k level for the first time since June 29, 2007.

The 50-share National Stock Exchange index Nifty dropped 242.70 points at 4,503.10, after touching a low of 4,482.10 and a high of 4,745.45 points. Nifty's last dip below 4,500 points was on September 17 last year.

Capital goods index bore the maximum brunt of 873.63 points at 12,706.31, followed by banking index by 753.93 points at 7569.16. Bank shares remained the centre of brisk activity after the US Fed decided to cut borrowing rates.

The Fed is stepping up efforts to prevent strains on financial markets from worsening. The rate-cut decision, taken ahead of the Asian trading day, coincided with JP Morgan buying Bear Stearns for about 1/40th its share price of a month ago.

A steep fall in other Asian markets led by Hong Kong also had an adverse impact on the market.

Index heavyweights ICICI Bank and Reliance Industries led the losses.

Second-largest lender ICICI Bank fell 6.5 percent, and largest listed firm Reliance Industries was down 3.5 percent.

Source : saharasamay.com

10 comments:

www.ShareTipsInfo.com Team said...

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
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As we all know major stock market exchanges in India are

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


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9891655316
9899056796
9891890425

KnowYourProfit said...

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.

As such the new Financial year has been started we wish all the visitors Good Luck , further the new support levels for
Nifty is 4650-4610 ,we can a see a rally coming in few days to boom
Indian Stock Market

Sectors whichs seems to gave good return over the period are

1.PHARMA
2.SUGAR SECTOR

Get all your queiries Answered Related to Indian Stock Market

Once Again This New Financial Year Brings Charm to Your Life.

Regards

Team
KnowYourProfit.com Team

www.ShareTipsInfo.com Team said...

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As we all know
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Have a Nice trading days ahead.



Regards


SHARETIPSINFO TEAM

9891655316
9899056796
9891890425


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www.ShareTipsInfo.com Team said...

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.

Again after one week of good gains in
href="http://sharetipsinfo.com" title="Indian stock market "> Indian stock
market
we have seen
title="Nifty">Nifty
and Sensex closing very near to there major Support.
If Nifty breaches 4850 then it can again see a fall till 4600. But
chances of breaching 4850 is very less. Now world markets are recovering at
faster pace
dollar is becoming strong as against Rs. it will give good gains to
exporters and IT sector.

Right now Nifty is in consolidation state it can go to any direction.
We suggest you not to take too long positions right now.



Please feel free to contact us for any query.


Have a Nice trading days ahead.

Regards


ShareTipsInfo Team

+91 9891655316
+91 9899056796
+91 9891890425

TechnoFunda said...

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KnowYourProfit said...

This blog is novice and informative,it is a pleasure to post a comment on this usefull blog created by a webmaster

Now as such the final stages of the formal completion of nuclear deal has come,so we can expect some positive news effecting the
movement of the INDIAN STOCK MARKET which means stocks coming in power sector will take new direction

Companies which will benefited includes mainly

1.Larsen n Tourbo(LT)
2.Hindustan Construction Co. Ltd(HCC)

and the list had few more names..

Happy Trading

Have Query

Feel free to contact us at


Team
www.KnowYourProfit.com
+91-9871142419

INDIAN STOCK MARKET TIPS said...

Hi Everyone
Indian Stock Market is on a jittery note as of now. It is a fight to death of the bulls and bears. Gone are the days when our Stock Market was dependent on other markets.
This may not be the right time for stock Trading / investing, but taking a view for the longterm, this might surely be a good bet. Investing in the SENSEX / NIFTY will be a good bet to take right now for the longterm players.
Regards

Indian Share Tips

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