Moneycontrol » News » Markets » Local Markets

Black Monday again: Biggest ever point fall for mkts

Published on Mon, Jan 21, 2008 at 09:33 | Source : MC

Updated at Mon, Jan 21, 2008 at 20:17

Like this story, share it with millions of investors on M3

Share on Tumblr

ALSO READ

Nifty

BSE | NSE 29/05/12

Are Mutual Funds betting on Nifty?

Mkts mayhem: Sensex below 18K; Nifty below 5200

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets at 3:00 pm, Nifty was down 9.5% and Sensex was down 8.5%. Sensex has recovered 700 points from the day's low.

Among the biggest midcap losers Nagarjuna Fert, WWIL, Oswal Chem down 33%, Essar Oil down 30% Ispat Ind was down 30%, Bajaj Hind down 28% and Chambal & Arvind down 26%.

RPL, REL, Bajaj Auto down 19%, Tata Power down 16%.

After stopping for a while; BSE resumed trading again. It cannot happen one exchange stops trade and the other continues.

It has broken all technical and psychological levels. Breadth has worsened and the advance decline ratio is over 1:70. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

India is the worst performing market today and Japan's Nikkei declined 3.865% or 535.35 points, Hong Kong's Hang Seng tumbled 4.425% or 1115.12 points Singapore's Straits Times slipped 3.23 and South Korea's Seoul Composite fell 2.95%.

Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

Unitech down 14%, Reliance Communication 11%, L&T, GAIL, SAIL down over 10%, ICICI, Reliance Enegy, DLF and Bajaj Auto down over 8% Reliance Petroleun down over 7%, VSNL 7.6%, BPCL down 6% and ABB down 7%.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 15%.

Mkts mayhem: Sensex breaches 17K; Nifty below 5K

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets and nearing to hit a down circuit which comes in at Sensex, Nifty down 15%. CNX Midcap is down 15% now. Now the Sensex and Nifty are down over 10%. Sensex is below 17,000 and Nifty is below 5000 and margin call is seen building up. It has been the biggest ever intra day fall for Sensex and Nifty.

After stopping for a while; BSE resumed trading again. It cannot happen one exchange stops trade and the other continues.

Sensex is down over 2000 points and Nifty is down 600 points.

It has broken all technical and psychological levels. Both Sensex and Nifty has fallen 16% from their highs. Breadth has worsened and the advance decline ratio is over 1:70. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

Realty, metal, midcap index have collapsed, however all the BSE indices were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

Ispat down 17%, RNRL down 10%, JP Hydro down 13%.

At 2:20 pm, the Sensex is down 1,557.22 points or 8.19% at 17456.48, and the Nifty down 522.70 points or 9.16% at 5182.60. About 219 shares have advanced, 2740 shares declined, and 22 shares are unchanged.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 8%.

Mkts crash: Nifty below 5,300; Sensex breaches 18,000

It is proving to be an extremely scary session for the markets as fall has continued further. There is panic selling in markets and nearing to hit a down circuit which comes in at 10% down. Now the Sensex and Nifty are down nearly 7%. Margin call is seen building up.

It has broken all technical and psychological levels. The Sensex is down over 1350 points and Nifty is down over 400 points. Sensex is down 18000 mark and India is the worst performing market Nifty has breached 5400 mark is trading near the day's low.

Both Sensex and Nifty has fallen 16% from their highs. Breadth has worsened and the advance decline ratio is over 1:44. According to analyst the scenario is similar to the May 2006 fall. There is pressure due to triggering of margin call. Nifty Futures is trading at 100 points discount.

Realty, metal, midcap index have collapsed, however all the BSE indeces were trading with huge cuts. BSE realty index was down over 9%, followed by metal index was down nearly 7%.

At 12.59 hrs IST, the Sensex is down 1,219.53 points or 6.41% at 17794.17, and the Nifty down 415.75 points or 7.29% at 5289.55.

About 242 shares have advanced, 2715 shares declined, and 24 shares are unchanged.

Midcap index and smallcap index have taken it on their chin. BSE Midcap index and smallcap are down over 8%.

Dealing room check

Nifty 5500 acting at a support
Margin pressure likely if Nifty breaches 5500
Bottom fishing by DIIs and Bank treasury at lower levels
Bounce back may be sold into if supply continues
Selling pressure continues at FII desk
Domestic liquidity a concern in short term
Retail participation very low

Mkts still under pressure; realty, metal, midcaps collapse

The markets have recovered slightly from the early lows but are still trading under immense pressure. Breadth on the NSE are still very weak and the advance decline ratio is over 1:18. Realty, metal and midcap index have collapsed today and are trading with nearly 5% cut each. However, all the key BSE indices are in red.

At 11.45 hrs IST, the Sensex is down 391.59 points or 2.06% at 18622.11, and the Nifty down 128.55 points or 2.25% at 5576.75. About 416 shares have advanced, 2540 shares declined, and 25 shares are unchanged.

Top gainers on the Nifty are Ranbaxy Labs at Rs 390.55 up 0.68%, Reliance Energy at Rs 2,131 up 0.35% and NALCO at Rs 437.20 up 0.17%

Top losers on the Nifty are VSNL at Rs 595 down 7.6%, BPCL at Rs 413.50 down 5.87% and ABB at Rs 1,287.65 down 5.74%.

Mkts witnessing panic selling; breadth extremely negative

The markets are witnessing panic selling pressure and have lost further ground. Weak cues from the global markets followed by the liquidity crunch on the back of mega IPO's in the recent past have been the major factor for this relentless fall.

All the key BSE indices are trading in red with significant cuts led by the realty, midcaps, banking, capital goods and metals. Breadth on the NSE was extremely negative. Advance decline ratio was 1:15.

At 11.05 hrs IST, the Sensex is down 388.65 points or 2.04% at 18625.05, and the Nifty down 126.15 points or 2.21% at 5579.15. About 373 shares have advanced, 2575 shares declined, and 33 shares are unchanged.

Ranbaxy was the only stock on on Sensex which was in green. DLF, ITC and Rel Comm were the leading losers on the Sensex.

On Nifty, major gainers were Suzlon, Ranbaxy Lab, Nalco. However, GAIL, BPCL and Unitech were the top gainers.

Reliance Industries, RNRL, Reliance Energy were the most active counters today so far.

Mkts open with deep cut; power, metal, banks down

The markets opened on extremely weak note following the negative cues from the global markets and liquidity crunch due to mega IPO's in the recent past. Heavy selling was seen across the sectors in the opening trade led by the capital goods, metal, power and banking stocks.

At 9:56 am, Sensex was down 245 points at 18768 and Nifty was down 5624. Major losers in the opening trade were NTPC, RPL, ICICI Bank, Infosys, RIL, Unitech, Rel Comm and VSNL.

Asian markets were trading weak. Hong Kong's Hang Seng slipped 2.51% or 633.15 points at 24,568.72. Japan's Nikkei plunged 3.36% or 466.01 points at 13,395.28. Singapore's Straits Times fell 1.48% or 45.82 points at 3,058.43. South Korea's Seoul Composite declined 1.99% or 34.57 points at 1,700.15. Taiwan's Taiwan Weighted dropped 0.21% or 17.20 points at 8,167.45.

Market cues: