Wednesday, January 23, 2008

Global Worries Hit Bourses; Sensex, Nifty Break Up

With weak worldwide markets activating a substantial sales event, the Sensex plunged over 650 points to 14, 347.89 as stocks moved into a tailspin in early trading on Bombay Stock Exchange (BSE). Stocks cutting across spheres have broken down on a reactive reaction to the declension in international markets.

At the moment, the BSE Sensex is down with a hefty loss of 622.19 points at 14,378.72. On the other hand, the NSE Nifty that went down to a low of 4171.15 came down with a arresting loss of 4.28 per cent or 187 points at 4183.20.

The market climate is so pessimistic that just a few stocks among BSE 'A' Group directed to make it to the constructive territory in opening trade.

The biggest loser in the Sensex is ICICI Bank, which lost about 6.65 per cent. The other stocks, which have lost between 5-6% include Bharti Airtel, Tata Steel, Reliance Industries, Reliance Communications, State Bank of India, HDFC Bank and Reliance Energy.

Tata Motors came down almost 5 per cent. ONGC, Larsen & Toubro, Hindalco, BHEL,Grasim Industries, Ranbaxy Laboratories, Infosys Technologies, Maruti Udyog, Bajaj Auto, HDFC, ACC, Cipla, Wipro, Tata Consultancy Services, Dr. Reddy's Laboratories, Hindustan Unilever, Ambuja Cements, ITC and Satyam Computers are down 2 per cent - 4.5 per cent from their last closing levels.

Sterlite Industries missed 7.75 per cent. The other stocks that have lost between 3% to 7% include SNL, Suzlon Energy, Nalco, IPCL, Tata Power, Zee Entertainment, Punjab National Bank, Siemens, SAIL, HCL Technologies, GlaxoSmithKline Pharma, Sun Pharmaceuticals, MTNL and BPCL.

Source

Sensex down 1,917 points

he Bombay Stock Exchange benchmark Sensex was lower by 1,917 points at noon with all stocks trading deep in the red.

The Sensex fell by 1916.67 points at 15,688.68 at 1215 hrs as funds undertook heavy selling, creating panic in the market for the seventh straight session.

The 30-share barometer had hit the lower level circuit limit to fall to 15,576.30 within minutes of start of session, leading to suspension of trading for an hour.

The National Stock Exchange Nifty was lower by 584.50 points at 4,624.30.

Source