Welcome to another pathetic day in the Stock Market today!
The market saw the Sensex and Nifty, both crashing down without any breaks. Both the indices were so low today that they slipped down nearly 500 odd points (Sensex) and 300 odd points (nifty) that they were at 2008’s lowest points.
The market saw the Sensex and Nifty, both crashing down without any breaks. Both the indices were so low today that they slipped down nearly 500 odd points (Sensex) and 300 odd points (nifty) that they were at 2008’s lowest points.
The Sensex closed at 14,571.29, down by 516.7 points or 3.42% while Nifty closed at 4347.55 down by almost 156.7 points or 3.48%. If these were today’s low points on both the indices, then both have crashed so badly that they created the 2008's lowest points since August 29, 2007 when the Sensex was at 14,645.3 and Nifty 4369.8 (August 2007)
So we see that this week has been completely dominated by the Bear speculators who completely ruled out the Bulls. This week the Sensex lost nearly 1200 points with a drastic change of 4% while the Nifty lost 325 points with a change of 3.7%. The investors were made poorer by crores of rupees who unfortunately saw a Bearish week.
The advance decline ratio was like an wide open jaw where nearly 2000 shares declined, sadly to, red and only 500 odd shares advanced in the whole trading session today while almost 200 shares saw no change. This heavy decline was hit almost all the sectors be it Banking, Petroleum, Communication, Real Estates - you name them and you can see your stocks ending in the alarming RED.
Reliance saw the mammoth losses with the Reliance Industries nearly down by 6.63% - on a six month low and Reliance Communications down by 6.68%. Karlo duniya muthi mein?
The majors players like Hindalco and ONGC lost a whopping 6.39% and 1.56% respectively with so many other players like Bharti Airtel, Jai Prakash Associates and others saw their day's lowest point and ended in red.
So you think heavy selling crashed the market so badly? Think again!
This time the reason was the big monster - Inflation, which reached unbelievably to 11.05% resulting in heavy price rise – An enormous 13 year high. The last peak was near to 11% in the year 1995. This left the common man pondering about the reason behind the inflation and it won’t take much time to realize that it was the rise in price of Oil or the Crude. Obvsiouly, increase in price of a commodity price leads to price hike in several other commodities. The Commerce Ministry says that this might continue for the next two weeks.
Is the Indian Stock Market alone in crashing this badly?
To your surprise, if any one of the Global markets goes southwards then it definitely affects the other World Market too. One market never suffers alone while trading either high or low. So if you cry in the stock market, the whole world cries with you.
The Global Markets today are:
NIKKEI [JAPAN] DOWN BY: 1.33%
TAIWAN INDEX SLIPPED: 1.8%
HANG SENG [HONG KONG] DOWN BY: 0.23%
SHANGHAI [CHINA]: Was trading in GREEN and closed at 3.01%
STRAITS TIMES [SINGAPORE]
So we see that this week has been completely dominated by the Bear speculators who completely ruled out the Bulls. This week the Sensex lost nearly 1200 points with a drastic change of 4% while the Nifty lost 325 points with a change of 3.7%. The investors were made poorer by crores of rupees who unfortunately saw a Bearish week.
The advance decline ratio was like an wide open jaw where nearly 2000 shares declined, sadly to, red and only 500 odd shares advanced in the whole trading session today while almost 200 shares saw no change. This heavy decline was hit almost all the sectors be it Banking, Petroleum, Communication, Real Estates - you name them and you can see your stocks ending in the alarming RED.
Reliance saw the mammoth losses with the Reliance Industries nearly down by 6.63% - on a six month low and Reliance Communications down by 6.68%. Karlo duniya muthi mein?
The majors players like Hindalco and ONGC lost a whopping 6.39% and 1.56% respectively with so many other players like Bharti Airtel, Jai Prakash Associates and others saw their day's lowest point and ended in red.
So you think heavy selling crashed the market so badly? Think again!
This time the reason was the big monster - Inflation, which reached unbelievably to 11.05% resulting in heavy price rise – An enormous 13 year high. The last peak was near to 11% in the year 1995. This left the common man pondering about the reason behind the inflation and it won’t take much time to realize that it was the rise in price of Oil or the Crude. Obvsiouly, increase in price of a commodity price leads to price hike in several other commodities. The Commerce Ministry says that this might continue for the next two weeks.
Is the Indian Stock Market alone in crashing this badly?
To your surprise, if any one of the Global markets goes southwards then it definitely affects the other World Market too. One market never suffers alone while trading either high or low. So if you cry in the stock market, the whole world cries with you.
The Global Markets today are:
NIKKEI [JAPAN] DOWN BY: 1.33%
TAIWAN INDEX SLIPPED: 1.8%
HANG SENG [HONG KONG] DOWN BY: 0.23%
SHANGHAI [CHINA]: Was trading in GREEN and closed at 3.01%
STRAITS TIMES [SINGAPORE]
Also ended in NORTHWARDS closing at 0.31%
The European Market surprisingly traded flat.
DOW JONES and NASDAQ [NYSE]: 12,063.09 gaining 34.03 points or 0.28% and the latter at 2,426 gained 32.35 points or 1.33%.
While the culprit Inflation is sending figures doubling up, the RBI says that they will have to use monetary tools but the Finance Ministry say that it may control Inflation through controlling the prices of food grains, vegetables and other commodities.
This ends a sad story hoping that the markets will improve by the next week with the Bulls getting into racing mode so that we see a ray of green in the coming week.
DOW JONES and NASDAQ [NYSE]: 12,063.09 gaining 34.03 points or 0.28% and the latter at 2,426 gained 32.35 points or 1.33%.
While the culprit Inflation is sending figures doubling up, the RBI says that they will have to use monetary tools but the Finance Ministry say that it may control Inflation through controlling the prices of food grains, vegetables and other commodities.
This ends a sad story hoping that the markets will improve by the next week with the Bulls getting into racing mode so that we see a ray of green in the coming week.
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