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Sensex closes down 951 pts; 2nd biggest fall ever

Published on Mon, Mar 17 at 09:51 , Updated at Mon, Mar 17 at 19:02
Source : moneycontrol.com

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The markets ended near the lowest point of the day with a sharp cut on account of heavy selling in scrips across sectors. It was the second biggest single day point fall for Sensex ever, down nearly 1000 points. It was the lowest close for Nifty since September 2007 and lowest close for Sensex since August 2007.

 

Broader markets underperformed the benchmark indices and both the midcap and smallcap indices are down over 6% each. NSE advance:decline was at 1:17. All sectoral indices closed in red, not a single Sensex & Nifty stock was in green.

 

Indian markets were the worst performers in Asia underperforming all Asian peers. The cues from US financial markets were extremely negative with credit crisis from US investment bank Bear Stearns that has taken a toll on global markets. India has led the downtrend with losses of over 5% followed by Asian peers Hang Seng and Shanghai Composite.

 

The fall came in after the Fed Reserve cut its discount interest rate at an emergency meeting and JPMorgan Chase agreed to buy Bear Stearns for USD 2 a share.

All BSE sector indices were deep in red. Bankex was top laggard down 9%, followed by realty , metal index down over 8% and oil & gas index were down over 5%.

Sensex closed down 951.03 points or 6.03% at 14809.49, and the Nifty down 242.70 points or 5.11% at 4503.10.

About 427 shares have advanced, 2580 shares declined, and 48 shares are unchanged.

The BSE Midcap Index ended at 6,124.35 down 7%.

The BSE Smallcap Index ended at 7,522.23 down 7%.

The BSE Bankex ended at 7,569.16 down 9%. Bank of India, Andhra Bank, Kotak Mahindra, Oriental Bank, Allahabad Bank moved downwards.

The BSE Capital Goods Index closed down 6.5% at 12,706.31.   Astra Microwave, BEML, Crompton Greave, Thermax, Greaves Cotton, Areva T&D closed lower.

The BSE Auto Index closed at 4,329.46 down 4.6%. Escorts, TVS Motor, Amtek Auto, Cummins, Punj Tractors, MRF closed lower.

The BSE Metal Index closed at 13,725.52 down 7.5%.  Hind Zinc, Sterlite, NALCO, Shree Precoated, Mah Seamless, Jindal Steel, Jindal Saw, JindalStainless closed lower.

The BSE FMCG Index closed down 3.2% at 2,119.60.  Colgate, ITC, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower.

BSE Oil and Gas Index closed at 9,801.86 down 5%. GAIL, Reliance Natura, HPCL, RPL,ONGC, Reliance, ONGC ended in red
 
BSE power index closed at 2,973.68 down 5.6%. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.

The BSE IT Index was down 3.2% at 3,297.71. I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra, TCS, Infosys closed lower.

The NSE cash turnover was at Rs 12916.74 crore and the NSE F&O turnover was at Rs 40058.11 crore. The BSE cash turnover was Rs 5708.13 crore. Total market wide turnover was at Rs 58682.98 crore.

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Messages on Market Outlook - Short Term

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down more than 80% in a single tradingday

In actual term, those stocks are worthless now.. Papers with Zero Value unless some change take place to ensure tha...

in Market Outlook - Short Term - BullSheetRules at 08-Sep-08 11:01

WILL NIFTY HIT 3600 & SENSEX TOUCH 12000

Looking at the chart and data, I doubt that we will see 4650+ level. That is why, I just \\`wish\\` for those Long ...

in Market Outlook - Short Term - BullSheetRules at 08-Sep-08 10:55

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