Another day of sharp fall
The market tumbled for the second day in a row as margin calls created havoc on the bourses. Though the market ended sharply down, it came off lower level after a huge intra-day fall.
The BSE Sensex lost 801.52 points or 4.55% to 16,803.83, as per provisional closing.
The broader CNX S&P Nifty was down 290.05 points or 5.57% to 4,918.75, as per provisional closing.
Margin calls, both by brokers to investors and by exchanges to brokers, added to the selling pressure after a two-day carnage in share prices. Brokers would not let clients make new purchases until margins were topped up on existing trades, and the exchanges also called margins due from brokers.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation plunged 12.48% to Rs 975 on 7.48 lakh shares. It was the top loser from Sensex pack. The stock though recovered sharply from day’s low of Rs 850.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries was down 7.62% to Rs 2350.35, off sharply from day’s low of Rs 2120. 18.89 lakh shares were traded on the counter
ICICI Bank, the country’s largest private sector bank in terms of net profit, was down 3.68% to Rs 1130, off session's low of Rs 1005.55.
HDFC Bank slumped 3.13% to Rs 1470. It registered 45.2% rise in net profit to Rs 429.36 on on 59.70% rise in total income to Rs 3405.79 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 21 January 2008.
ITC (down 10.50% to Rs 182), Ambuja Cements (down 10.22% to Rs 114.15), and Hindalco Industries (down 11.42% to Rs 147), were the other losers from Sensex pack
Bharti Airtel surged 3.24% to Rs 855.10 and was the top gainer from Sensex pack. The stock recovered sharply from day’s low of Rs 700.
Infosys Technologies (up 2.14% to Rs 1420), Reliance Energy (up 1.35% to Rs 1800), and Bajaj Auto (up 0.75% to Rs 2080), were the other gainers from Sensex pack.
European markets staged a solid intra-day recovery on rumors of a concerted rate cut by the US Federal Reserve, the European Central Bank, the Bank of England. The FTSE 100 index of United Kingdom was up 0.15% to 5,586.80 after a sharp early fall. However France’s CAC 40 index was still down 0.54% to 4,718.99.
Hong Kong's Hang Seng (down 8.65% at 21,757.73), Japan's Nikkei (down 5.65% at 12,573.07), Taiwan's Taiwan Weighted (down 6.51% at 7,581.95), China's Shanghai Composite (down 7.22% to 4,559.71) and South Korea's Seoul Composite (down 4.43% at 1,609.02), declined.
US stock markets were closed on Monday, 21 January 2008 in observance of Martin Luther King Day.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 3296.73 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 3399.20 crore on Monday, 21 January 2008.
FIIs were net buyers to the tune of Rs 1,104.41 crore in the futures & options segment on Monday, 21 January 2008. They were net sellers of index futures to the tune of Rs 1,461.31 crore and bought index options worth Rs 374.46 crore. They were net buyers of stock futures to the tune of Rs 2,195.21 crore and sold stock options worth Rs 3.95 crore.
The US economy has been hit hard by rising defaults in the sub-prime mortgage sector in which Americans with bad credit records are struggling to pay back housing loans given to them during the housing boom.
The BSE Sensex lost 801.52 points or 4.55% to 16,803.83, as per provisional closing.
The broader CNX S&P Nifty was down 290.05 points or 5.57% to 4,918.75, as per provisional closing.
Margin calls, both by brokers to investors and by exchanges to brokers, added to the selling pressure after a two-day carnage in share prices. Brokers would not let clients make new purchases until margins were topped up on existing trades, and the exchanges also called margins due from brokers.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation plunged 12.48% to Rs 975 on 7.48 lakh shares. It was the top loser from Sensex pack. The stock though recovered sharply from day’s low of Rs 850.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries was down 7.62% to Rs 2350.35, off sharply from day’s low of Rs 2120. 18.89 lakh shares were traded on the counter
ICICI Bank, the country’s largest private sector bank in terms of net profit, was down 3.68% to Rs 1130, off session's low of Rs 1005.55.
HDFC Bank slumped 3.13% to Rs 1470. It registered 45.2% rise in net profit to Rs 429.36 on on 59.70% rise in total income to Rs 3405.79 crore in Q3 December 2007 over Q3 December 2006. The results were announced after trading hours on Monday, 21 January 2008.
ITC (down 10.50% to Rs 182), Ambuja Cements (down 10.22% to Rs 114.15), and Hindalco Industries (down 11.42% to Rs 147), were the other losers from Sensex pack
Bharti Airtel surged 3.24% to Rs 855.10 and was the top gainer from Sensex pack. The stock recovered sharply from day’s low of Rs 700.
Infosys Technologies (up 2.14% to Rs 1420), Reliance Energy (up 1.35% to Rs 1800), and Bajaj Auto (up 0.75% to Rs 2080), were the other gainers from Sensex pack.
European markets staged a solid intra-day recovery on rumors of a concerted rate cut by the US Federal Reserve, the European Central Bank, the Bank of England. The FTSE 100 index of United Kingdom was up 0.15% to 5,586.80 after a sharp early fall. However France’s CAC 40 index was still down 0.54% to 4,718.99.
Hong Kong's Hang Seng (down 8.65% at 21,757.73), Japan's Nikkei (down 5.65% at 12,573.07), Taiwan's Taiwan Weighted (down 6.51% at 7,581.95), China's Shanghai Composite (down 7.22% to 4,559.71) and South Korea's Seoul Composite (down 4.43% at 1,609.02), declined.
US stock markets were closed on Monday, 21 January 2008 in observance of Martin Luther King Day.
As per provisional data, foreign institutional investors (FIIs) sold shares worth a net Rs 3296.73 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 3399.20 crore on Monday, 21 January 2008.
FIIs were net buyers to the tune of Rs 1,104.41 crore in the futures & options segment on Monday, 21 January 2008. They were net sellers of index futures to the tune of Rs 1,461.31 crore and bought index options worth Rs 374.46 crore. They were net buyers of stock futures to the tune of Rs 2,195.21 crore and sold stock options worth Rs 3.95 crore.
The US economy has been hit hard by rising defaults in the sub-prime mortgage sector in which Americans with bad credit records are struggling to pay back housing loans given to them during the housing boom.
Labels: Nifty.Sensex
posted by SY at 9:57 PM
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