01 Jul 2008 | 18:35
Dalal Street continues to sink
Bears
continue to dominate the markets. On Tuesday, the markets opened on a
flat note, dipped into the red, tried to recover but failed. The
markets started slipping by noon and ended near the lows of the day.
The Sensex has lost close to 1500 points over the past three sessions.
High inflation, rising interest rates, record high oil prices (crossed
$143 a barrel) and political concerns continued to haunt the markets.
The Sensex has closed below the psychological 13,000 mark and the Nifty
below 4,000.
While the Sensex closed down 482.94 points or 3.59%
at 12,978.66, the Nifty closed down 143.80 points or 3.56% at 3896.75.
The broadmarket indices also participated in the sell-off. The BSE
Midcap and Smallcap index ended 4.69% and 4.66% lower respectively. The
market breath was pathetic, as A/D ratio was close 1:6 on the BSE. NSE
cash turnover was Rs. 12072.33 cr vs Rs.
11450.59 cr yesterday.
Selling
pressure was seen across the board. The BSE Metal, Bankex and Realty
lost more than 5% each. The only gainer in the BSE-30 was NTPC.
Losers from the Sensex pack included Rel Infra, Rel Comm, M&M, Maruti Suzuki and SBI.
The
markets continue to show weakness. The markets continue to make new
lows everyday. One will have to wait for a bottom to be formed before
venturing into new buying.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
Dalal Street continues to sink
Bears
continue to dominate the markets. On Tuesday, the markets opened on a
flat note, dipped into the red, tried to recover but failed. The
markets started slipping by noon and ended near the lows of the day.
The Sensex has lost close to 1500 points over the past three sessions.
High inflation, rising interest rates, record high oil prices (crossed
$143 a barrel) and political concerns continued to haunt the markets.
The Sensex has closed below the psychological 13,000 mark and the Nifty
below 4,000.
While the Sensex closed down 482.94 points or 3.59%
at 12,978.66, the Nifty closed down 143.80 points or 3.56% at 3896.75.
The broadmarket indices also participated in the sell-off. The BSE
Midcap and Smallcap index ended 4.69% and 4.66% lower respectively. The
market breath was pathetic, as A/D ratio was close 1:6 on the BSE. NSE
cash turnover was Rs. 12072.33 cr vs Rs.
11450.59 cr yesterday.
Selling
pressure was seen across the board. The BSE Metal, Bankex and Realty
lost more than 5% each. The only gainer in the BSE-30 was NTPC.
Losers from the Sensex pack included Rel Infra, Rel Comm, M&M, Maruti Suzuki and SBI.
The
markets continue to show weakness. The markets continue to make new
lows everyday. One will have to wait for a bottom to be formed before
venturing into new buying.Visit site at – http://investorline.co.in/
Newsroom - http://newsroom.investorline.co.in/
Learning Center- http://learning.investorline.co.in/
Mutual funds - http://mutualfunds.investorline.co.in/
Life Insurance - http://insurance.investorline.co.in/
Investor Journal - http://research.investorline.co.in/
Investor Forums- http://forums.investorline.co.in/
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