apocalypse Posted January 21, 2008 Share Posted January 21, 2008 MUMBAI: It was one trading day that investors will take a long time to forget. Fears of recession in the US becoming a reality saw global indices tumble. The worst to get affected in this mayhem was the Indian market. The bears went berserk on Dalal Street creating panic to such an extent that trading in Bombay Stock Exchange’s benchmark Sensex was halted briefly. The moment trading resumed, the index recovered some lost ground. According to dealers, “government funds are trying to bring in some stability to the already crumbling market.†Sensex saw the biggest absolute fall in history by falling 2062 points intra-day. It closed at 17,605.35, down 1408.35 points or 7.4 per cent. It fell to a low of 16,951.50. National Stock Exchange’s Nifty plummeted 8.7 per cent or 497 points to close at 5208.80. It slumped to a low of 4977.10. NTPC, down 15.07%, was the worst hit, followed by Reliance Energy (down 14.79%), ACC (14.53%), ACC (14.53%), Reliance Communications (13.84%), Grasim Industries (13.19%) and DLF (9.62%). Bucking the trend, Satyam Computer posted nearly 5 per cent gains after the IT major reported a 29 per cent rise in consolidated third-quarter net profit on continued growth in sales and said it expects a 45-45.2 per cent increase in revenue growth in 2008 over 2007. The company’s net profit for its fiscal third quarter ended December 31 rose to Rs 434 crore from Rs 337 crore reported a year earlier. lag gayi sabki ( Link to comment Share on other sites More sharing options...
talksport Posted January 21, 2008 Share Posted January 21, 2008 Lot of Profit making...I guess Link to comment Share on other sites More sharing options...
apocalypse Posted January 21, 2008 Author Share Posted January 21, 2008 naa no profit making MUMBAI: Investors on Dalal Street have lost over $300 billion (Rs 11,85,285 crore) in the last six days with more than half of the loss coming from Monday's fall of the benchmark index Sensex - its biggest ever. The 30-share index Sensex today witnessed a fall of 1,400 points, tumbling below the 18,000-point to close at 17,605.35. The huge drop in the index was led by blue chip heavyweights - Reliance Energy, ACC, Bajaj Auto, DLF and Reliance Industries. The Sensex has lost 3,222.1 points in last six trading sessions, while investors' wealth - measured in terms of cumulative market capitalisation of all the listed companies - has declined by Rs 11,85,285.46 crore. The total market capitalisation stood at Rs 59,53,525.87 crore at the end of today's trading against Rs 71,38,810 crore before bourses began business last week on January 14. Link to comment Share on other sites More sharing options...
Guest dada_rocks Posted January 21, 2008 Share Posted January 21, 2008 25 times over-subscription of an IPO was saying people have gone crazy so this course correction was on the cards .. but hang in there it will recover back .. Link to comment Share on other sites More sharing options...
goose Posted January 21, 2008 Share Posted January 21, 2008 The markets on US holiday today triggered stops and a rout ensued world-wide. Not over yet...by a long shot IMO. Link to comment Share on other sites More sharing options...
fineleg Posted January 21, 2008 Share Posted January 21, 2008 Irrational exuberance (AG's words) leading to correction. To be expected. Link to comment Share on other sites More sharing options...
sgusa Posted January 21, 2008 Share Posted January 21, 2008 Is this a good time to buy stocks in India ? Or is the bottom still to come ? Buying Blue chip stocks in Indian market when they bottom out would be a good hedge against the falling dollar, I think. Link to comment Share on other sites More sharing options...
fineleg Posted January 21, 2008 Share Posted January 21, 2008 sgusa, if any of us know that for a fact, we'll all be millionaires but invest periodically, so you can spread the buying of indian stocks over a period of time. Link to comment Share on other sites More sharing options...
Guest dada_rocks Posted January 22, 2008 Share Posted January 22, 2008 Oke simple formulae is this.. track the average share price for an couple of year for a given share and if the dip is well below that level close your eys and buy it.. this transient is bound to settle at least to that average value.. Link to comment Share on other sites More sharing options...
Guest dada_rocks Posted January 22, 2008 Share Posted January 22, 2008 recovered 800 points today Link to comment Share on other sites More sharing options...
suma25 Posted January 22, 2008 Share Posted January 22, 2008 felldown down again about 1500 points now . stock market had shut down once today in all probability will shut down once+ again Link to comment Share on other sites More sharing options...
apocalypse Posted January 22, 2008 Author Share Posted January 22, 2008 damn another 800+ nosedive Link to comment Share on other sites More sharing options...
Guest dada_rocks Posted January 22, 2008 Share Posted January 22, 2008 How is reliance's IPO doing or it's yet to be listed ? Link to comment Share on other sites More sharing options...
kumble_rocks Posted January 22, 2008 Share Posted January 22, 2008 How is reliance's IPO doing or it's yet to be listed ? I think it is listed but SAT is looking into some irregularities .. Keep an eye on reliance growth fund DR , has been doing exceptionally well since it has been launched . If the price falls below 300 , then would be a good buy http://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=183 Link to comment Share on other sites More sharing options...
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