rahul_parab2006
Rahul Parab
Markets tank on global jitters
Once upon a time, there was an equity market. It was a good little market driven by strong fundamentals that tried to do its job, keeping scrips efficiently priced.
But occasionally, it would go into slumps for no good reason. It saw the world becoming a scary place and maybe it thought that if it grew smaller it wouldn't be noticed. So like some caterpillar or it shrunk into itself every time it thought it saw a threat.
Well, that's how the Indian markets seem to be behaving. Among the things that are affecting the market are the outcome of a nuclear meet that only ends on Friday, the job data from the US and the projections by the European Central Bank on inflation and growth as the markets wiped out the gains of Tuesday's meteoric rise.
The BSE Sensex dropped by 415.27 points to end at 14,483.83 or 2.79% down from its previous close of 14,899.10. FMCG was the only sector fast enough to evade the bears snapping at the heels of and bringing down every other sector.
Realty, IT, Bankex and Metal were among the worst hit. Realty lost 4.17%, while IT and Bankex lost 3.52% each. Metal also lost over 3% to climb to the number three spot among the list of losing indices.
The NSE 2.15% to close at 4352.30 with a loss of 95.45 over its previous close of 4447.75. Small wonder that, with 46 declines and only 4 advances among the 50 that comprise the Nifty pack. BPCL, HUL, ITC and ONGC were the top gainers on the NSE. BPCL showed a substantial surge of 8.57% while HUL had an increase of 1.85%.
ITC and ONGC showed gains of less than half a percent each. Losers were aplenty with Ranbaxy and HDFC showing dips of 8.66% and 5.67% while DLF and Wipro had drops of 5.53% and 5.20%. Unitech also made it to the list with a loss of 4.49%.
Among Asian markets, Nikkei and Hang Seng lost 2.75% and 3.12% respectively.
FIIs turned net sellers again, dumping 1857 crore worth of scrips.
We can only hope that the market recovers from its turtle syndrome over the weekend.
Source : Dna India
Once upon a time, there was an equity market. It was a good little market driven by strong fundamentals that tried to do its job, keeping scrips efficiently priced.
But occasionally, it would go into slumps for no good reason. It saw the world becoming a scary place and maybe it thought that if it grew smaller it wouldn't be noticed. So like some caterpillar or it shrunk into itself every time it thought it saw a threat.
Well, that's how the Indian markets seem to be behaving. Among the things that are affecting the market are the outcome of a nuclear meet that only ends on Friday, the job data from the US and the projections by the European Central Bank on inflation and growth as the markets wiped out the gains of Tuesday's meteoric rise.
The BSE Sensex dropped by 415.27 points to end at 14,483.83 or 2.79% down from its previous close of 14,899.10. FMCG was the only sector fast enough to evade the bears snapping at the heels of and bringing down every other sector.
Realty, IT, Bankex and Metal were among the worst hit. Realty lost 4.17%, while IT and Bankex lost 3.52% each. Metal also lost over 3% to climb to the number three spot among the list of losing indices.
The NSE 2.15% to close at 4352.30 with a loss of 95.45 over its previous close of 4447.75. Small wonder that, with 46 declines and only 4 advances among the 50 that comprise the Nifty pack. BPCL, HUL, ITC and ONGC were the top gainers on the NSE. BPCL showed a substantial surge of 8.57% while HUL had an increase of 1.85%.
ITC and ONGC showed gains of less than half a percent each. Losers were aplenty with Ranbaxy and HDFC showing dips of 8.66% and 5.67% while DLF and Wipro had drops of 5.53% and 5.20%. Unitech also made it to the list with a loss of 4.49%.
Among Asian markets, Nikkei and Hang Seng lost 2.75% and 3.12% respectively.
FIIs turned net sellers again, dumping 1857 crore worth of scrips.
We can only hope that the market recovers from its turtle syndrome over the weekend.
Source : Dna India