The 3-day tumble-how & why?

Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news BSE Sensex | Siemens |

The Sensex has tumbled 1000 points in the last three trading sessions. On Friday, 08 Dec '06 it opened above the 14k mark, however, on Tuesday it closed below 13k. Here's a glimpse of the carnage of the past three days.

Let's consider the percentage fall in various indices during 07 Dec '06 to 12 Dec '06. During that period bankex was the major loser; it lost 9.95% or 721 points. Metal index was also down by 9.34% or 859.82 points. Capital Goods, Auto and Oil & Gas lost over 7% each. (see table below)

On Friday, markets opened in the green and breached the 14,000 mark. Thereafter, they slipped on account of profit booking.

Markets ended the day in deep red on account of heavy selling in frontline stocks. There was broad based selling in scrips across sectors and the fall was in sync with some of its Asian peers.

This was the first weekly loss after six weeks of continuous gains.

The fall in midcaps was not as brutal as that of the frontliners.

The Sensex closed at 13,799.49 down 172.54 points and the Nifty closed at 3962 down 53 points.

The NSE cash turnover was at Rs 7548.15 crore and the NSE F&O turnover was at Rs 29146.38 crore. The BSE cash turnover was Rs 4125.1 crore. Total market wide turnover was at Rs 40819.63 crore.

On Monday, the markets opened in negative terrain, still suffering from the jolt it witnessed in the previous trading session. Moderate buying interest was seen in technology and pharma sectors whereas banking, sugar, real estate and construction stocks were down in the morning session. RBI's hike in CRR rates hit the banking sector further.

There was broad based selling with all sectoral indices ending in red.  The Sensex saw a free fall of over 500 points during the day and closed with a loss of 400 points. It was the biggest single day fall for Sensex since June 13.

The Sensex closed at 13,399.43 down 400.06 points or 2.90% at 13399.43, and the Nifty down 112.50 points or 2.84% at 3849.5.

On Tuesday  too, the markets opened in deep red. The correction mode continued as expected by analysts. The Sensex then came back in green in early trade, however it lost stability few minutes later.

It was yet another bad session for the Indian markets as the free fall continued triggered by sharp fall in the industrial output numbers. It ended below key support levels replicating Monday's loss.

 

Capital goods stocks led the downtrend and stocks like ABB , Siemens broke all support levels, followed by metal stocks.

 

The Sensex saw a free fall of over 600 points in the mid session and closed with a loss of 400 points.

 

The Sensex closed at 12,995.02 down 404.41 points or 3.02%, and the Nifty down 132.60 points or 3.44% at 3716.9.

 

The NSE cash turnover was at Rs 11069.71 crore and the NSE F&O turnover was at Rs 45384.87 crore. The BSE cash turnover was Rs 4913.9 crore. Total market wide turnover was at Rs 61368.48 crore.

 

BSE Index	07-12-2006 Close	Current Value	Change (Pts)	Change (%)
Bankex	7253.8	6531.95	-721.85	-9.95
Metal	9201.12	8341.3	-859.82	-9.34
Capital Goods	9474.5	8755.39	-719.11	-7.59
BSE 200	1673.44	1547.68	-125.76	-7.52
BSE 500	5314.93	4919.66	-395.27	-7.44
BSE 100	7066.55	6542.39	-524.16	-7.42
Auto	5479.85	5080.08	-399.77	-7.30
Smallcap	6767.45	6278.75	-488.70	-7.22
Midcap	5779.39	5370.1	-409.29	-7.08
Oil & Gas	6233.37	5792.95	-440.42	-7.07
Sensex	13972.03	12995.02	-977.01	-6.99
FMCG	2050.12	1915.71	-134.41	-6.56
Healthcare	3744.92	3533.28	-211.64	-5.65
CD	3344.28	3170.15	-174.13	-5.21
IT	5161.13	4990.42	-170.71	-3.31