Indian Market was down by more than 300 points , Intense selling was seen across all sector , supported by weak cues from global markets mainly european market now . All the sectoral indices were in the negative territory with realty, metals and banks the major under-performing sectors.The European markets opened almost 3 Percent low because of fears of eurozone debt crisis. There are reports that Greece would miss a deficit target set a few months ago.
The 30-share BSE Sensex fell 318.69 points to 16,135.07, and the 50-share NSE Nifty slipped 97.05 points to 4,846.20.
Indian shares opened in red and started following the friday trend and it almost fell sharply to a new 14-month low in early trade Monday and still its in red by almost averaging points not less then 450.It just replying to a broad-based sell-off in Asian equities, after a S&P downgrade of U.S. government debt heightened concerns over the growth outlook of the U.S. economy amid fears of a global double-dip recession.The S&P on Friday downgraded the long-term debt rating of the US from AAA to AA+ and continued with its negative outlook. This could lead to some immediate turbulence in financial markets, however, investors are likely to focus on ‘relative’ ratings in their investment decisions.
US market yesterday saw massive crash and All three major markets got into negative territory for the year as investors were rattled over an intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report.
The CBOE volatility index surged more than 35%.Dow Jones Industrial Average slipped 4.31% or 512.76 points at 11383.68. Nasdaq Composite shed 5.08% or 136.68 points at 2556.39. Standard & Poor’s 500 shed 4.78% or 60.27 points at 1200.07.
Market which is battered across all the sector is in deep red for the third day or so.Market might be factoring the Inflation worries and also the earnings worries because of slowdown in growth.
And also Foreign investors have been pulling out money from Indian equities; they were net sellers of around Rs 5,000 crore so far in year 2011 which is just almost 20 days oif business may be,As you know that RBI was hinting that if there is growth in western economy FII would pull out money out of market to invest in the western market.
Sensex closed at 17,051 down by 423.35 or 2.42 Per Cent , the market was volatile until 10 or so and after that the results started pouring in and the market started going down from there after market started hearing Disappointing Q3 results from main company like Larsen Toubro , Icici Bank ,there was also profit booking happening in Banking stocks and most of the PSU stocks .Shipping stocks where hammered after the government announced there is no news of sale in shipping corporation of india to public.
>ICICI Bank net profit declines 13.45 per cent in the December 2009 quarter
>Larsen & Toubro net profit declines 50.09 per cent in the December 2009 quarter
>Kingfisher Airlines reports net loss of Rs 419.96 crore in the December 2009 quarter
>Dow Jones lost 80 points, or 1.2 percent, to end at 6,547.05 to its low as of April 15, 1997.
>S&P 500 (SPX) index lost nearly 7 points or 1 percent, to end at 676.53, to its low since Sept. 12, 1996.
>NASDAQ composite (COMP) lost 25 points or 2 percent, to end at 1,268.64, to its low since Oct. 9, 2002.
What Moved the Market
>Merck and Schering-Plough propose $41 billion merger – No use it dint cheer the market.
>Financial stocks reverse early weakness
>Warren Buffett confident in long-term potential of U.S. economy, but near-term prospects remain challenged. – If this guys is not sure on what the near term is then ?.
US market was getting famous on the negative way , Nasdaq was at its 6 year low , Dow Jones and S&P was at its new 12 year low .Citibank was trading below a dollar yesterday .GM said its very tough to survive.You dont need to serach for any bad news , whatever news coming in was all bad news.
What moved the market.
>Moody’s reviewing Wells Fargo and Bank of America for downgrade; outlook for JPMorgan Chase lowered
>GE executives continue efforts to calm capital concerns
>Initial jobless claims decline more than expected
>Fourth quarter nonfarm productivity turns negative, labor costs rise more than expected, January factory orders decline less than expected
Dow entered the territory of 6000 yesterday going below 7000 and finally Dow and S&P closing at 12 year low after insurance company American International Group’s huge quarterly loss added to worries about the financial sector and the economy.
>Dow Jones industrial average (INDU) lost almost 300 points, or 4.2% to end at 6763.29, its lowest point since April 25, 1997.
>S&P 500 (SPX) index lost 34 points, or 4.7%, ending at 700.82, its lowest close since Oct. 28, 1996.
> Nasdaq composite (COMP) lost 55 points, or 4% to end at 1322.85 above its close of 1316.12 from Nov. 20, 2008.
Yesterday night when i went to bed i watched the US market was in red and i was thinking there would some good news on the banking side and it will come back to green and today morning a wake up and see that it is was still in deep red.
>Dow and S&P 500 wend down to level that was in 1997 the year i was dreaming about to go to America its almost to 12 years low.
>Dow Jones lost almost 250 points, or 3.4 percent, ending almost to the same point it was on May 7, 1997.
>S&P 500 (SPX) index lost 26 points, or 3.5 percent, ending at the lowest point since April 11, 1997.
>Nasdaq composite (COMP) lost 53 points, or 3.7 percent . This is the only index which was better than everything else and its just at its lowest points since Nov. 20, 2008.
What Moved the Market
>Reports indicate government may increase stake in Citigroup; helping keep financials in focus
>Government lines up loans in case automakers need bankruptcy financing
Dow Jones is almost down for 6 straight sessions now , The Dow Jones industrial average (INDU) lost 250 points, or 2.9%, now it has reached what it was at Dec. 1.Nothing was going good for the US market .After the market hours Steve Job of Apple said that he is going on medical leave most probably until mid of this year .
What was Moving the Market
>Citigroup and Morgan Stanley establish joint brokerage venture.
>Reports indicate Deutsche Bank will post a fourth quarter loss.
>Companies continue issuing cautious commentary and earnings guidance.
>Advance December retail sales disappoint.
>Nortel one of the big telecom company in Canada filed for bankruptcy.
>Dow Jones industrial average (INDU) lost almost 200 points or so to be correct its 219 points, or 2.5 Percent.
>Standard & Poor’s 500 (SPX) index down by 19 points, or 2.1 percent.
>Nasdaq composite (COMP) down by 27 points, or 1.7 percent. IT was volatile kind of until the last hour and there was lot of profit booking happening so it just went down in the final hours.
What moved the market
>GE has credit outlook lowered to negative
>Initial jobless claims and continuing claims dip, both essentially in-line with expectations
>FedEx, Nike top quarterly earnings estimates
>Reports indicate General Motors and Chrysler reopened merger talks, but GM denies the claim
>Reports suggest $850 billion stimulus in the making, It was i think atleast 750 billion dollar again over a year or so.
The two day green race came to an end today after the market closed in red. Dow Jones industrial average (INDU) ended down 215 points, it almost went to 312 points down.
>Standard & Poor’s 500 (SPX) index fell 2.9% and the
> Nasdaq composite (COMP) retreated 3.1%.
>Jobless claim is still worrying the market
>AT&T planning for job cuts
>Dow components Merck and DuPont guide EPS below expectations for 2009
>Retailers’ November same-store sales hit the wires
Dow jones today crashed by almost 680 points, This is the 4th biggest single day loss in the history.The decline was almost 7.7 percent which is like 12th worst percentage drop on a single day.It all started when the US investors went through the Holiday sales report and also industrial growth which had already crashed the market but the whole market crash happened after the recession data came in from NBER which i have talked about it in the last post.
>U.S. manufacturing contracts more-than-expected in November
> U.S. credit card industry may cut credit lines by over $2 trillion
> Black Friday sales up 3.0%, according to ShopperTrak
> NBER officially declares U.S. recession started in Dec. 2007
US Stock Market crashed by 411 points after recession fear , they can better say that they are in a prolonged recession rather than everyday fearing if they would really have recession or not , nothing was good for US market today , The #1 Consumer retail shop BEST BUY lowered the earnings guidance for fiscal year 2009 , and also they said they have never seen a difficult condition that this , There was another blow from Treasury Paulson saying $700 billion bailout fund will no longer buy troubled assets; may buy stakes in non banking companies.So these all paved way for the Dow to crash by 411 points.
What moved the market
>Best Buy issues downside earnings guidance for fiscal year 2009, says this is the most difficult climate its ever seen
>Treasury Secretary Paulson speaks about $700 billion TARP; will no longer buy troubled assets; may buy stakes in non banking companies
Dow Jones falls by more 777 points biggest ever fall in the history of Dow Jones ,It most looses 1.2 trillion dollar in Market Value.The market started in Red after hearing to Wachovia’s buy by citibank and also after hearing to troubles European mortgage company the market started falling down more after they heard that the house as rejected the Bailout plan.
What crashed the market
>House of Representatives rejects $700 billion financial plan; Stocks plummet most since 1987
>Wachovia banking operations acquired by Citigroup for roughly $2 billion in deal facilitated by FDIC
>Several European financial firms bailed out
>Credit markets remain tight; Investors flock to Treasuries in a flight-to-safety
Market is trading at 52 week low and below 13000 points ,these are the sensex statnding as of 2.40 pm , All the sector was in red , Asian , European market is also trading low , Bank stocks are heavily hit in this market , and Ranbaxy is also heavily hit in this market for the second day straight.
US Market Crashed yesterday and so all asian markets are following the same trend now .
NASDAQ 2321.37 -79.89 -3.33%
DJIA 11453.42 -358.41 -3.03%
S&P 1283.15 -38.82 -2.94%
What Moved the market
Earnings results mixed against estimates
Goldman sees capital raises at select financial firms, issues downgrades for C and GM
Weekly jobless claims exceed expectations, unchanged from prior week
Oil prices rally to all-time high above $140 per barrel
After a big fall in Us market indian market responded to it , it was even down by like 700 points or so during noon , Sensex closed at 15,128.04, down 2.85% or 444.14 points after hitting an intraday high of 15,202.74 and low of 14,846.18. The Nifty ended at new closing low of 4,500.95 for 2008 after breaching previous low of 4448.05; it has hit a high/low of 4626.45 and 4411.60 before finishing the day at 4500.95, down 2.74% or 126.85 points.
Jaiprakash Asso (-8.13%),
DLF (-7.10%), ONGC (-7.09%),
HDFC (-5.37%), Unitech (-8.80%) and
Cairn India (4.51%),
Hero Honda (4.49%),
Ranbaxy Labs (4.16%),
Reliance Comm (1.50%),
Hindalco (1.08%) and
Tata Steel (0.35%).